Cash Back Mortgages

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Cash Back Mortgages, What You Need to Know: Purchasing a home is a major decision and takes a lot of planning. It requires a huge chunk of your savings to finance the purchase. After saving up for the down payment, you may realize that there isn’t enough money left over…
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High ratio mortgage?

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When you purchase a home with less than 20% down payment it is called a high ratio mortgage. The “high-ratio” part refers to the ratio of the loan to the purchase price, also known as loan-to-value. If there is less than 20% down payment on a purchase, an insurance premium…
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Variable vs Fixed Rate?

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The differences between a variable vs fixed-rate mortgage are important when considering a loan. Whether you are buying, refinancing, or doing a debt consolidation, understanding the differences between the two can help save you money and meet your financial goals. • A Variable rate mortgage is where the mortgage payment…
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Early Mortgage Renewal

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Canadians have been keeping track of the low-interest rates and wonder whether an early mortgage renewal could save them money. An early mortgage renewal or renewal, in general, provides an opportunity to negotiate the interest rate. It's an opportunity to capitalize on today’s low-interest rates before they go up. An…
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Vacation Homes

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Dreaming of ducks and docs at a vacation home as a retreat from concrete and congestion? You are not alone. Many people dream to own their own private little getaway whether on a lake or in the mountains. Financing these property types is very different than financing a home in…
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Convert a home to a rental

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Are you buying a home and want to convert your home to a rental property? Many clients buying a new home dream of keeping their existing home as a rental property. Qualifying for another mortgage plus maintaining the current one is more difficult with the rule changes. Consumers view things…
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Buying a Home in 2020

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Buying a home in 2020? How to navigate the Uncertainty The coronavirus outbreak has challenged every level of our financial system. It's affected our Government, retail stores, and the biggest impact has come from changes to interest rates and mortgage lending. Naturally, with interest rates so low, everyone is wondering…
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Prepayment Privileges?

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Prepayment privileges allow a borrower to prepay a portion of the mortgage principal before it's due without a penalty. There are limitations to this. It's basically paying more than your agreed upon mortgage payment and is applied directly to the principal amount owing. Types of Prepayment Privileges If you have…
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6 Tips to Get Approved

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6 Tips to Get Approved for a Mortgage Often consumers think getting a mortgage is as simple as getting a car loan, however, it is very different. Educating yourself is the key, and there are a number of ways to avoid heartache and disappointment when applying for a mortgage. Getting…
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