Breaking your mortgage in Canada might sound intimidating, but for the right reasons, it can be a game-changer for your financial future. Whether you’re eyeing lower rates, refinancing for a better deal, or managing a life change, now could be the ideal time to...
What’s New in Insured Mortgages? Canada’s insured mortgage landscape is undergoing significant changes as of December 2024, aiming to improve affordability and access to housing: Extended Amortization Periods: 30-Year Amortizations Expanded Now available to...
Have you heard about “Cashback Mortgages”? A cashback mortgage is a type of mortgage where the lender provides a cash incentive at the time of closing, to encourage the borrower to go with that specific lender. This incentive is typically a percentage of the mortgage...
Having a good credit score plays an important role in securing a mortgage. Here’s some quick tips on how to improve one’s credit score, feel free to share! 1: Pay bills / credit on time. Even if that means just making the minimum payment. Always pay at...
In June I asked my VIP Club members their thoughts about the pros and cons of buying a home versus renting. Quite a few responses came in, which I’ve summarized below. Pros of Buying A Home Wealth Building and Equity Growth: Building equity and forced savings...
As a homeowner, you may have heard of second mortgages but not fully understood what they are or why they could benefit you. Let me explain. A second mortgage is a loan that uses the equity in your home as collateral. It allows you to borrow against the value of your...
