Mortgages

Reading Time: 4 Min For first-time homebuyers in Canada, it can be difficult to find mortgage rates and terms that suit you and your budget. But what do you do when interest rates constantly fluctuate, and a mortgage agreement that works for you one day might not work the next day? Locking your mortgage allows you to lock in… Continue reading Should I Lock My Mortgage Rate In Canada? The Pros And Cons.

Reading Time: 4 Min For most of us, buying a property is a significant financial decision. A critical aspect of this process is choosing the right mortgage to finance the property. There are two main types of mortgages – open or closed. This article outlines the pros and cons of each type of mortgage and explores how each one… Continue reading Open Vs Closed Mortgage: Which Is The Better Option For You?

Reading Time: 4 Min Refinancing your mortgage can be a strategic financial move for homeowners. It involves replacing your current mortgage with a new one. Homeowners choose to refinance for a wide variety of reasons, ranging from lower interest rates to a changing financial situation. What Does It Mean To Refinance A Mortgage? Refinancing a mortgage in Canada is… Continue reading How to Refinance a Mortgage in Canada: A Comprehensive Guide

Reading Time: 4 Min In the world of home financing, cash-back mortgages have emerged as a popular choice for prospective homeowners. These special mortgage agreements provide borrowers with a lump-sum cash payment upon the finalization of their mortgage contract. But what exactly is a cash-back mortgage? How does it work, and who qualifies for one? This article dives deep… Continue reading What Is A Cash-Back Mortgage? A Comprehensive Guide

Reading Time: 4 Min Buying a new home before your mortgage term ends can be a costly affair due to prepayment penalties. However, homeowners in Canada have the option to bring their existing mortgage to their new home through a process known as mortgage porting.  In this comprehensive guide, we explore everything you need to know about porting a… Continue reading Porting A Mortgage in Canada: The Complete Guide

Reading Time: 4 Min An idea of how much a home renovation could cost is essential. Depending on the extent of your renovation ideas, you could spend a few hundred dollars or several thousand. Various things could impact the ultimate cost, but don’t sweat it – we’re here to break down the regular charges related to sprucing up your… Continue reading The Real Cost of Home Renovations

Reading Time: 8 Min When you’re in the market for a home loan, you’ll face a big decision: choosing between a fixed-rate or an adjustable-rate mortgage. Both types have their perks and points to ponder. Grasping what sets them apart is crucial to picking the one that fits your financial plans and how much risk you’re comfortable with. In… Continue reading The Homebuyer’s Guide to Fixed and Variable Mortgage Rates

Reading Time: 7 Min Buying a home is a long-cherished dream of many Canadians. However, the process is not easy, especially with a limited income. You will have to look at all the options and related risks involved to make a safe decision. One of the things you need to know is the mortgage stress test.

Reading Time: 2 Min   Mortgage Payment Frequency When taking out a mortgage, you have the option of choosing the payment frequency that suits you the most. Canadians have five different mortgage payment frequencies to choose from: monthly, bi-weekly, accelerated bi-weekly, weekly and accelerated weekly. While monthly payments are the most common, you can opt for more frequent payments… Continue reading Mortgage Payment Frequency Explained

Reading Time: 4 Min Home prices across Canada are skyrocketing.According to the Canadian Real Estate Association (CREA), the national average homesale reached $661,788 in July 2021. With homes selling in larger volumes and athigher prices across the country, homeowners considering buying or selling are curious about fees associated with this expensive transaction. In home sales, thelargest fee is the… Continue reading Real Estate Commissions: Everything You Need To Know

Reading Time: 7 Min Are you planning to buy a home? Do you want to know how to make it possible? For many people, having their own home is a lifelong dream. However, the rising housing costs make it nearly impossible to do so.

Reading Time: 4 Min Perhaps you have been thinking about buying a new home and even have your eye on the one that you would like to buy. Before finalizing the process, take the time to know of the need to pay the land transfer tax.

Reading Time: 7 Min   Buying a home means fulfilling a long-cherished dream. However, the process will not be easy, especially with a limited income. You will have to go through all the available options and related risks to make a safe decision. You are here means you have come across the mortgage stress test. You want to know… Continue reading Mortgage Stress Test: All You Need to Know

Reading Time: 2 Min   A mortgage term is defined as the length of time you’re committed to a specified mortgage rate, lender and parameters defined by that lender. At the end of a mortgage term, the borrower can pay off the remaining balance, renew the mortgage term, refinance the mortgage, or change lenders. Canadian homeowners often renew their… Continue reading Mortgage Terms Explained