Debt Consolidation in the New Year

consolidate-debt

Credit cards: those two little words that can cause a mountain of debt and stress that can derail your short- and long-term financial ambitions. Falling into the pits of debt can easily feel like a form of suffocation without the right strategies and solutions that can help alleviate that burden. Debt consolidation can offer you … Continued

A New Landscape for Home Buyers

A New Landscape for Home Buyers

  With so many changes in the mortgage and housing industry recently, getting ready to buy a house can be more than a little overwhelming. Here is what you need to know about the changes and some of the impacts:   New Qualification Rules New qualification rules were rolled out last October by the Department … Continued

3 Red Flags After Making an Offer for Purchase

3-red-flags

Finding a home that you think might just be “the one” can be an exciting feeling, but it can also be overwhelming until that closing date finally arrives. It takes a lot of steps to get to that moment, from finding a real estate agent to viewing a multitude of open houses and securing mortgage … Continued

A Deeper Look into Mortgage Pre-Approval

A Deeper Look into Mortgage Pre-Approval

Whether you are a first-time homebuyer or looking to upgrade your existing house, the house hunt process should always start in the same place; with your mortgage advisor. There is no sense viewing houses before you have a clear picture of what your spending limit is. Obtaining a mortgage pre-approval should always be your starting … Continued

Making the Best of the New Approval Rules

Making the best of new approval rules

With the stricter mortgage qualification rules that went into effect in October, many people won’t receive approval for as high of a mortgage as they may have in the past. Although this may dampen the search for your perfect house, there are many ways you can make the most of the new situation. The rules … Continued

To Relocate or Renovate?

tips to relocate or to renovate.

You purchased your first home what seems like a lifetime ago. Maybe it was just you and your spouse at the time and the house seemed so spacious. But time has passed and now you have a few kids and a dog or two and suddenly the house is bursting at the seams! You ask … Continued

How to Pay Off Your Mortgage Faster

How To Pay Off Your Mortgage Faster

When you receive a mortgage, typically the numbers are so high that paying it off doesn’t seem like an attainable goal. But if you are intent on paying off the largest loan you will likely ever receive faster than anticipated, then you just need to make smart decisions at the inception of your mortgage loan. … Continued

Can You Afford To Ignore The Mortgage Rule Changes?

Can You Afford To Ignore The Mortgage Rule Changes?

The Department of Finance announced several new regulations early October that will have significant impact on the mortgage industry which in turn will affect you the consumer. The first one, which was put into place on October 17, 2016, requires that all insured mortgages, regardless of term (fixed or variable) will now have to QUALIFY on … Continued

4 Smart Ways to Save for a Down Payment

4 Smart Ways to Save for a Down Payment

Since a house is likely the most expensive purchase of your lifetime, a deposit on the house will not be a small amount of money. Most lenders require a minimum of 5% down as a down payment prior to initiating the mortgage loan for the remaining amount. The higher your down payment, the less money … Continued

The New Rules

Mortgage Rate Stress Test

Understanding the Government changes affecting the mortgage industry. Your answers to the What, Who and Why, and How The Mortgage Advisors can help! New: Mortgage Rate Stress Test   WHY did the Department of Finance implement these new changes as of October 17, 2016? The new regulations are intended to help protect the Canadian financial … Continued