Spousal Buyout Mortgage? If you happen to be going through, or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property in order to buyout your ex-spouse. For most couples, their property is their largest asset and where the majority of their […]

Insured, Insurable & Uninsurable vs High Ratio & Conventional Mortgages You might think you would be rewarded for toiling away to save a down payment of 20% or greater. Well, forget it. Your only prize for all that self-sacrifice is paying a higher interest rate than people who didn’t bother. Once upon a time we […]

Mortgage changes are coming—are you prepared? We know – more changes?! How can that be! With this ever-changing landscape, mortgages continue to get more complicated. This next round of changes is predicted to take affect this coming October 2017 (date not yet available). These new rules contain three possible changes, the most prominent being the […]

10 things NOT to do when applying for a mortgage – buying a home or refinancing Have you been approved for a mortgage and waiting for the completion date to come? Well, it is not smooth sailing until AFTER the solicitor has registered the new mortgage. Be sure to avoid these 10 things below or […]

35% Down… The New Conventional Mortgage? If you’re looking to buy a new home, one of the most difficult things can be putting together a down payment for the mortgage. So how much do you really need to put together before you can get into the home of your dreams? Let’s take a look at […]

What Happens When a Home Sale Falls Through? Every homebuyer eagerly anticipates closing day. With the home purchase process completed, ownership of the property transfers from the seller to the buyer – you! Closing date is negotiated as a condition of sale. You’ll typically have several weeks between the date that your agreement to purchase […]

Banks & Credit Unions vs Monoline Lenders We are all familiar with the banks and local credit unions, but what are monoline lenders and why are they in the market? Mono, meaning alone, single or one, these lenders simply provide a single yet refined service: to fulfill mortgage financing as requested. Banks and credit unions, […]

Summary of the New Mortgage Market There have been a lot of changes in the mortgage market over the past few months so many Canadian’s plans regarding homeownership may have shifted quite a bit from last year. First, new qualification rules came to pass in October where even though actual contract rates are sitting at […]

2016 Property Assessments vs. Market Value SHORT VERSION: Do not rely on your provincial assessment for a fair market value of your property. The value printed on that document was arrived at during a time in the previous year, the market may have changed a bit since then, and not in the direction you might think. Do […]

Top 5 costly financial mistakes homeowners make with their mortgage 1. Not consolidating high interest debt into low interest mortgage. 2. Paying “fees” to get the lower rate 3. Not looking at their long term forecast 4. Taking a 5 year rate when 3-4 years can be cheaper 5. Having their mortgage with a lender […]