It’s time to get serious about saving for that ‘rainy day fund’ The global pandemic has reinforced the need for Canadians to take a more responsible approach to managing spending habits. The need for a savings pool that is not earmarked for a vacation or future spend...
Let’s consider your income, credit, down payment, liabilities, pre-payment options, pre-payment penalties, mortgage restrictions, portability, assumption options, amortization, age, location, rents, and more. Wait, what was your question? Your goal is to obtain the...
You are buying your next house. You ask your realtor what their role is in the process. 9 out of 10 realtors will give you these two standard responses; “My role is to find you a house that meets your requirements and negotiate the best price for you”. (Don’t take my...
The COVID-19 pandemic has shone a spotlight on what we have known for some time. As a country, Canada is unprepared to house and care for an ageing population. Waiting lists are now months if not years, to get a spot in retirement and nursing homes. Not enough new...
No, you don’t get 6 months of mortgage forgiveness during the COVID-19 crisis. I am fielding many calls during the current COVID -19 crisis from clients who are assuming they don’t need to pay their mortgage for the next six months, at no consequence to...
Refinancing a mortgage is inevitable for most people who own a home. Are you guilty of one or more of the following mistakes? Accepting the written offer your lender presents to you Lenders are famous for sending a renewal notice in the mail and asking you to select...
When the Government of Canada introduced the First Time Home Buyer Incentive (FTHBI) effective September 2, 2019, I expected more buzz in the mortgage community. The program is available to first time home buyers with household income under $120,000 for mortgages not...
Since cannabis legalization came into effect on October 17, 2018 nationwide, many Canadian landlords are wondering about their rights and how the legalization will affect their rental property investments. New rules allow cannabis to be used recreationally and enable...
When you think of what you look for in a mortgage, was rate the first thing that came to your mind? It is the most common feature of a mortgage in which we all focus on. But is it truly the most important? Let’s explore the features of a mortgage and why they are all...
When it comes time to purchasing a home, do you choose the more expensive but brand-new home – or do you go for that fixer upper with the potential to become your dream home? In order to make this important decision, you will need to consider if renovations are a fit...
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