Appraisal vs Inspection

Appraisal vs Inspection, what is the difference? An appraisal is completed by a certified property appraiser. It determine's the value of the property. It isn’t always required however it is the lenders choice. Appraisals are usually required when there is more than 20% down payment thus avoiding the insurance premium.…

Standard VS Collateral

Standard VS Collateral Mortgage Lenders vary the way they register your mortgage against your title. I would highly suggest you read the fine print and make sure you understand what it all means. If there is something you don’t understand, then make sure you ask. There are two ways lenders…

Protect Your life

Protecting your life with mortgage insurance is very important to help manage unexpected life events. Insurance protection for both life and disability is yet another cost when purchasing a home however how does one plan on paying the mortgage if one was to die and leave a spouse behind to…

Budget for Closing Costs

If you have been thinking of buying a home, you’ve probably started saving for the down payment. But have you considered how much you will need to save for the closing costs? If you haven’t, you are not alone., most people often forget or do not plan for closing costs.…

Credit Score, what is it?

A Credit Score, what does it really mean? A credit score is a number, generally between 300 and 900, that helps determine your creditworthiness. Credit scores are calculated using information in your credit report, including your payment history; the amount of debt you have; and the length of your credit…

Condo Doc Review

Condo Document Review When you purchasing a condo, you are buying into a business. You want a nice condo, but you also want to buy into a well run and financially healthy condo corporation. During your condo purchase, you will have an opportunity to review the condo documents. They outline…

FTHB Incentive

FTHBI Incentive, What We Do and Don’t Know Since it was proposed back in March, the First-time Home Buyer Incentive (FTHBI) from CMHC is slowly taking shape. While it is being touted as a measure to address affordability by the federal government, the response has been mixed. On one hand,…

Home Ownership

Home Ownership has many steps to go through before getting the keys to your new home. The biggest challenge these days is getting approved for a mortgage. Typically, most buyers visit their bank however in today's changing environment, mortgage brokers have more options to help consumers secure their mortgage. Let’s…

First Time Homebuyer?

What you need to know! If you are ready to step into homeownership by buying your first home, the easiest way to have a smooth and stress-free home buying experience is to do the following: 1. Find A Good Mortgage Broker Ask for recommendations from friends and family. Check them…

New Federal Budget,

What Does it Mean for You? The new Federal budget certainly grabbed the attention of many Canadians. Unfortunately, the announcement turned into a cliff-hanger, as we have to wait for the next episode to find out what is really going to be delivered. The budget contains two key components aimed…