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Mortgage Deferrals Coming to an End
When the pandemic hit Canada in March, and we were asked to stay at home, and that all but essential services remain open, many were concerned about how they were going to pay the bills, including their mortgages. To their credit, lenders and mortgage insurers stepped...
How To Qualify For A Mortgage In An Uncertain Market
With COVID-19 challenges that include layoffs and deferred mortgage payments, getting a mortgage may be a bit tougher for some, whether it’s for a first home, or refinancing to consolidate debt, or simply renewing your existing mortgage with a new lender to take...
The Ten Commandments of Buying a Home
Here are some tips for anyone that has been approved for a mortgage. Once you have been approved and provided all of your supporting documents to your mortgage broker there are some guidelines to follow to ensure that you do not run into any problems with your...
Canadian First Time Home Buyer Incentive Program
On September 2, 2019 the federal government launched a new program called First-Time Home Buyer Incentive (FTHBI). The program is for interested first-time home buyers to help ease the carrying cost of a mortgage. The program offers buyers up to 10% of the purchase...
Fixed vs Variable…How do you Choose?
The age-old question…do I go variable or fixed? Fixed mortgage rates are more popular and represent about 70% of all mortgages in Canada. With a fixed rate mortgage, you can “set it and forget it” as you are protected against interest rate fluctuations, so your...
Is Refinancing a Good Idea? The Right (and Wrong) Time to Refinance
Do you want to reduce your monthly mortgage payments, get cash from your home equity, or get a better rate on your mortgage? It may be time to think about refinancing your mortgage. A 2018 study found that 47 percent of Canadians may need to take on more debt to pay...