Minimum Down Payment in Canada: How the Rules Work The minimum down payment in Canada isn’t one flat percentage. It depends on the price of the home, and the rules work in tiers. Here’s how they work on an insured purchase, with some examples so you can...
Fixed, Variable or Adjustable: How Each Mortgage Rate Type Works When you set up a mortgage, the rate type is one of the first decisions. Fixed, variable and adjustable all sound similar, but they behave differently in two places: what happens to your payment when...
Mortgage Programs for Different Incomes, Backgrounds and Plans Not everyone qualifies the same way. A steady salary, a down payment and a straightforward purchase is one path, but lenders also have programs built for other situations: different kinds of income,...
THE CLOSING FREEZE: 10 THINGS NOT TO DO BEFORE YOU GET THE KEYS Your offer is firm, the conditions are waived, and the hard part feels like it’s over. For many buyers, this stretch between a firm deal and closing day is when they finally relax. It’s also...
I see this question every single day in Facebook groups, Reddit threads, and my DMs: “Here’s our income, our savings, and our debt. Are we ready to buy?” And the answers they get are usually terrible. Either wildly optimistic (“Just go for...
Can Teachers Really Afford Toronto? There’s a common question I get from teachers who have been working for two, three, maybe five years with the TDSB, Catholic Board, Peel, or York Region: “I have a great career and I love my students. But I’m carrying student debt,...
