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Is Now The Time to Get a Variable Rate Mortgage

Something strange has been happening on the mortgage front. While the big banks have been hiking interest rates on their fixed mortgages, the interest rates on variable mortgages has been going down. ...

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Should I Consider a Mortgage from a Private Lender?

Homeownership is a source of pride among many Canadians. But what do you do when your ability to purchase or stay in your home is compromised by little or poor credit? Sometimes the answer is to go to...

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Mortgage Advice for First Time Home Buyers

Not gonna lie – buying your first home is kind of a big deal. It’s both exciting and scary. There is a huge sense of accomplishment when you are finally ready to invest in a home of your o...

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Five Reasons to Get a Mortgage Preapproval

When you are finally ready to purchase your first home it can be incredibly exciting. You imagine the type of neighbourhood you want to live in, how you are furnish the living room, and maybe where yo...

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Five Things to Consider Before You Refinance

Refinancing your mortgage can be a great strategy when you need to consolidate debt or gain access to extra cash – but it can also be an expensive strategy if not handled in the right way. Also,...

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Get Ready for Higher Interest Rates

According to some analysts, the Bank of Canada will likely raise interest rates when it meets on July 11th. If it does, this will mark the fourth hike in a 12 month period. For Canadian consumers, thi...

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Poll Shows Canadians Are Divided on Fixed vs Variable Rate Mortgages

According to a recent poll by CIBC, Canadians are divided over whether they would choose a fixed or variable rate mortgage if their mortgage was up for renewal today. Even though 72% of respondents sa...

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The Bank Turned Me Down for a Mortgage... Now What?

The prospect of owning a home is an exciting one. You imagine how you will decorate and furnish your new place. Perhaps you entertain thoughts about having summer barbeques with the neighbours or curl...

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Good News for Entrepreneurs! It’s About to Get Easier to get a Mortgage

Business owners are important to our economy. Not only do they provide goods and services that make our lives easier, but they also create jobs and spur innovation. It’s frustrating therefore to...

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How to Make a Private Mortgage Work for Everyone

A private mortgage can seem like a perfect solution if you have been turned down by a traditional bank. Or maybe you are considering offering a private mortgage because it seems like a good way to hel...

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Tips to Help You Prepare Before You Apply for a Mortgage

Whether you are getting ready to make your very first house purchase or whether you are looking into other mortgage tools such as refinancing, second mortgages or reverse mortgages, you want everythin...

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Five Crazy Reasons You Might Get Turned Down for a Mortgage

Imagine. You are good with your money. You have a good job. And somehow, your mortgage application still ended up in the “reject” pile. Sadly, this situation is more common than ...

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What Happens at Mortgage Renewal Time?

Remember when you got your very first mortgage? At the time you were probably really excited about finally becoming a home owner. And the farthest thing from your mind was your mortgage renewal. But b...

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Is a Reverse Mortgage Right for Me?

Many homeowners in Canada who are age 55 or older are opting for a financial product called a reverse mortgage. A reverse mortgage is essentially a loan that lets you take advantage of some of the equ...

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Can a Home Equity Line of Credit Help Me Buy a Piece of Paradise?

As summer comes to an end, it is common for sun-lovers to dream of how they might extend the summer lifestyle or even start thinking about their own retirement on the sunny shores of Mexico or Costa R...

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Is Getting a Mortgage Debt Consolidation Loan a Good Idea?

It is no secret that many Canadian households struggle with consumer debt. If you live in one of these households, then you may be considering using your mortgage (or more accurately, your home equity...

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Is Rent to Own a Good Solution?

Most Canadians have probably heard the term “rent to own” but are likely unfamiliar with exactly what it means or how it works. While this type of arrangement is fairly common in the U.S.,...

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Common mistakes that people make when they apply for a mortgage

Shopping for a home can be an amazing experience, it is both extremely exciting and exhilarating to become a homeowner. The process however can be exceptionally daunting especially for first time home...

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It just got easier for entrepreneurs to get a mortgage!

Are you a relatively new entrepreneur? If you are, you may have discovered that getting approved for a mortgage – or switching lenders in the case of a mortgage renewal – hasn’t been...

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Can a mortgage broker save you money?

With interest rates on the rise and the cost of living going up, we as Canadians are taking deals wherever we can find them. Perhaps you have taken to coupon clipping or shopping around for a better p...

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Are variable rate mortgages still a good choice or should you lock in your rate?

Since July of 2017, the Bank of Canada has raised interest rates four times going from 0.5% to 1.5% and there is speculation by many economists that we can expect to see at least one more hike before ...

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Is refinancing a good way to get out of debt?

Whew! Where has the summer gone? Warm summer evenings, it seems have been traded for chilly fall nights, and before we know it the Christmas holiday season will be upon us. While the coming festive se...

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To rent or to buy... that is the question!

As a mortgage broker, many people come to me after they have made a decision to buy their first home. But before they come to see me, they often struggle with the question of whether it is better to b...

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Do These Five Things Before Renewing Your Mortgage

Once upon a time, homeowners actually looked forward to renewing their mortgage because they knew that they could negotiate a better rate and save themselves a bit of cash. But my how times have chang...

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How Long Should You Amortize Your Mortgage?

When you’re buying a house there are so many options and decisions to be made, you might feel as though you’re on information overload. Chances are you’re also figuring out the detai...

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Is Home Ownership on Your 2019 To Do List?

Is owning a home on your list of resolutions for 2019? If it is, then congratulations – I wish you all the success in the world. But now for a dose of reality – most people give up on thei...

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Is a Five Year Fixed Mortgage the Right Choice?

Have you been shopping around for a mortgage lately? If you have, you probably noticed that seemingly every lender is promoting their five-year fixed rates. What’s with that? I mean, there are l...

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Understanding the Difference Between Mortgage Pre-Qualification and Pre-Approval

If you are ready to purchase your first home in 2019 and have started looking at mortgage rates, you’ve probably started to notice the terms pre-qualification and pre-approval.But do you truly u...

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Good News for Borrowers: Spring Set to Heat Up Competiton Among Mortgage Lenders

The spring housing market is just around the corner, and with it you may be able to get a better rate on a five-year fixed mortgage. Last week Canada’s largest bank, RBC announced a rate reducti...

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How Your RRSP Can Help You Become a Home Owner

This is a time of year when we probably thinking more about our RRSPs. If you have a good financial advisor, they have probably taken some time to remind you that you only have a few weeks to contribu...

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Tips For Managing Your Credit Score

A credit score is one of those things you hear about but maybe don’t really worry about or talk about until it’s time you need it, but it turns out having a good (or even great) credit sco...

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Top Tips For Getting Pre-Approved for a Mortgage

You know you want to buy a house, but it’s such a big purchase that maybe you just don’t know where to start. Very few people are able to pay for a house in cash so you’ll likely nee...

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How to Pay Off Your Mortgage Faster

What would you do with an extra $1000 or more a month? For many Canadians, the easiest way to discover that is to pay off their mortgage. And while it can feel like it is taking forever to pay off, th...

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Mortgage Rates Lowest in Two Years

Even though housing prices are continuing to climb in most parts of the country, fixed mortgage rates have fallen to a two year low. At this point, fixed rate mortgages are almost as cheap as variable...

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Where Should I Go to Find The Best Mortgage?

Whether you are shopping around for your very first mortgage or whether your mortgage is one of the one in six that are coming up for renewal this year, there are no shortages of products out there fo...

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Everything You Need to Know About Home Appraisals

In most cases, when you get a mortgage, you will also need to get an appraisal. This is a professional assessment of the property’s value. Lenders often require appraisals before they will give ...

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Assembling the Right Team for Your Real Estate Investment Venture

With housing prices going up the way they have in recent years, many people are considering whether they should start investing in real estate. While it’s true that you can make decent money wit...

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Questions You Should Ask Your Mortgage Broker

If you’ve never bought a house before, the whole process of getting a mortgage and signing all those papers can be really overwhelming. Your house will, likely, be the biggest purchase you ever ...

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How Are Mortgage Rates Determined?

If you have spent any amount of time shopping for – or even thinking about – a mortgage, chances are that you’ve seen a number of advertisements by various lenders promoting their mo...

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Tools and Resources for Home Buyers

Buying a new home is often really exciting. But it can also be complex and even overwhelming. Fortunately, you don’t have to do it alone. There are a wide range of tools and resources that homeb...

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Why Fall is a Great Time to Buy a House

If you’ve never purchased a home before you might not know that there are better times of the year to purchase than others. Fall is one of the better times to purchase a home, and here’s w...

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Questions and Answers About Second Mortgages

A second mortgage is a financial tool that homeowners often use when they need to consolidate high-interest debt or when they need cash for a large purchase or investment such as a home renovation or ...

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Tips for Negotiating a Better Rate at Mortgage Renewal Time

Your home is likely the biggest, and most important, purchase you will make in your lifetime. There are very few people who have the ability to pay for their home in cash, so most of us need a mortgag...

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How a Mortgage Broker Can Help You Get Out of Debt Faster

Making payments on debt is no fun. Not only are we seeing our hard-earned money go toward paying interest that could have stayed in our pocket, but half the time we can’t remember what we bought...

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Why are millenials lying on their mortgage applications? (And what should they do instead?)

According to a recent report by Equifax, 23% of millennials think it’s ok to lie about their incomes on their mortgage applications and 19% have admitted actually doing this. While mortgage frau...

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5 Things You Should Do BEFORE You Pay Off Your Mortgage Early

If you are a homeowner with a mortgage, chances are you dream of the day when you will be mortgage free. You might imagine what you are going to do with the extra thousand-plus each month. Maybe you&r...

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Household Debt in Canada - How Big is the Problem?

Purchasing a home is one of the biggest milestones in anyone’s life, and it’s an investment in your future. When shopping for a home, equating a purchase price to actual monthly costs can ...

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What You Need to Know About the First-Time Home Buyers Incentive

Buying your first house is a big step in setting yourself up for your future: it’s an investment, of course, but it’s also going to be your home and possibly where you start your family or...

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Five Reasons Why Winter Can Be a Great Time to Buy a House

When winter comes, our natural response is to hibernate and enjoy our warm and cozy homes while avoiding being outside as much as possible. It only makes sense that we wouldn’t want to pack up a...

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How to Find the Best Mortgage Broker in Niagara

Buying a home – whether it’s your first or your tenth – can be a really stressful time for most people. There are so many documents you need to sign, information you need to provide ...

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Variable vs Fixed Rate Mortgages - which is right for me?

When you are shopping for a house, you are also – usually – shopping for a mortgage. A mortgage isn’t just a mortgage, though. There are so many options for picking the right mortgag...

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Avoid this big mistake when you renew your mortgage

If you are like many Canadians, you might have your mortgage with your bank. If you do, when your mortgage comes due for renewal, you might be tempted to simply sign your renewal offer at whatever rat...

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Should you change jobs before your mortgage closes?

Just like you never know when the right home is going to come along, there’s no real way to know when the potential for advancing your career will come your way. So what if the offer you put in ...

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What does COVID-19 mean for your mortgage?

It’s impossible these days to turn on the news or look at your social media feed without getting the latest update on the COVID-19 pandemic. Between school closures, event cancellations, and the...

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Should you defer your mortgage payments during COVID-19?

As the COVID-19 crisis continues to play out, many Canadians are feeling the very real economic consequences. In Ontario, all businesses deemed non-essential have been ordered to close or to have thei...

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Is Now the Right Time to Refinance Your Mortgage?

COVID-19 is more than a health crisis. It is also an economic crisis. Companies have been shut down. Workers have been laid off. Millions of Canadians have applied for EI. And not unsurprisingly, folk...

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How to work with your mortgage broker during COVID-19

The COVID-19 pandemic and the social distancing measures that have been put in place to help flatten the curve has made it necessary for many professionals to pivot and change the way that they do bus...

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COVID-19 is driving up demand for reverse mortgages

The COVID-19 pandemic, and subsequent lockdown, has been the cause of a lot of financial difficulty for many Canadians as they have seen their home values and their retirement portfolios decline drama...

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Collecting CERB? Here’s what you need to know about your mortgage

The time we’re living in are unprecedented and scary. For many of us, we’ve never experienced as much economic uncertainty like this: some companies have laid off employees, others are shu...

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What is behind your mortgage rate?

Making the decision to buy a home is, likely, the biggest decision and biggest investment you’ll make in your life. The majority of homeowners do not have the cash at their disposal to just outr...

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What You Need to Know about the New CMHC Mortgage Rules

As of July 1, 2020 it will become a lot harder for Canadians, from coast to coast, to obtain a mortgage underwritten by the federal government. The restrictions being brought in are meant to be good f...

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Mortgage Rates Keep Setting Record Lows

There have been articles written about how qualifying for a mortgage is starting to get tougher, with more requirements to qualify, but recent mortgage lending rates are continuing to drop – eve...

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Mortgage Rates During and Post Pandemic

When buying a home, one of the biggest determining factors as to how much your house will cost you is your mortgage interest rate. Thankfully, for many years, the interest rates in Canada have been lo...

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Tips for Keeping a Healthy Credit Score

Building a credit score and credit history is vital for so many large purchases you’ll make in your life: financing a vehicle, getting a mortgage, even getting loans at low interest rates depend...

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Five Tips for Saving for a Home Down Payment

One of the biggest parts of purchasing your home is the amount you can put towards the down payment, and it hinders many would-be homeowners from ever signing those mortgage papers. If you’re al...

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Will a home renovation increase the value of my home?

This year, with COVID-19, most homeowners are spending so much more time at home. With all this extra time at home most people are noticing renovations and projects that they want to get done, and sin...

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With rates this low, is it time to convert your variable rate mortgage to a fixed rate?

During the course of the COVID-19 Pandemic, the Bank of Canada has slashed its prime rate several times in its efforts to help keep the economy afloat. As a result, mortgage rates got lower as well &n...

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What to do if you cannot pay after your mortgage deferral expires

This year has brought up many challenges for Canadians across the country, especially when many people have been off work for months on end.With COVID-19 leaving many Canadians without a paycheck for ...

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How you can manage a mortgage in retirement

It was not long ago that people simply assumed that they would no longer have a mortgage when they entered retirement. But between rising home prices and people purchasing homes later in life, more an...

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Mortgage and Home Buying Tips for First Time Home Buyers

Buying your first home is an exciting and, possibly, scary time. There are a few details that you might now know about because you haven’t purchased a home before, and you don’t know exact...

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Tips for Getting Pre-Approved for a Mortgage

So, you’re pretty sure you’re ready to buy a new home. Maybe it’s your first home or maybe you need more space for your growing family – whatever the reason, you’re looki...

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Why Buying a Home Over the Holidays Can be a Good Thing

When we think about the holidays, buying and selling a home are not usually included amongst the fun family dinners and parties we are used to, but it could actually be one of the best times to buy yo...

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How to Improve Your Financial Health this Winter

For many of us 2020 has been a very challenging year: some of us lost our jobs or had hours cut so our incomes were significantly impacted. This change to our financial situations can leave many of us...

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Mortgage Preapproval 101

If you are looking to become a homeowner in 2021, one of the first steps that you will have to take is to get pre-approved for a mortgage. Getting your pre-approval through a mortgage brokers suc...

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Buying Your First Home in 2021? Read this First!

Buying your first home is very exciting, but the mortgage process can seem really daunting and intimidating to anyone who has never bought a house before. To buy your first home in 2021, you need to u...

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Steps to Take Before Refinancing Your Mortgage

As homeowners, we know that there will come a time when we need to renew our mortgage but for some of us we may need to refinance our mortgage. What does it mean to refinance? Should you do it? How do...

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5 Things to Know About the RRSP Home Buyers Plan

Many Canadians think of RRSPs as a tool to save for retirement, but that isn’t the only way investing in an RRSP can help you in building a future life for yourself. In general, the funds in you...

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Should you refinance your mortgage to buy an investment property/

You have spent years paying down your mortgage, and you have all this equity built up but what do you do with it? Almost every financing company has all these ideas about what you should do with the e...

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Pros and Cons of Getting a Private Mortgage

There are various reasons you may be having difficulty qualifying for a traditional mortgage, and you may feel like you’re running out of options for purchasing a home or getting the appropriate...

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Could Mortgage Rates Go Higher in 2021?

Mortgage rates in Canada are lower than they have ever been, which means borrowing is becoming much more affordable for Canadians everywhere. These new home buyers coming into the market are driving u...

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How to secure the best mortgage rate in 2021

Over the last year, Canadians everywhere have seen incredibly low mortgage rates which means more and more people are entering into homeownership. We knew, though, that those rates couldn’t stay...

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Why it could be time to switch to a variable rate mortgage

For the last year or so, fixed rate mortgages have been at historically low rates. These low interest rates have allowed many Canadians to enter into home ownership when they previously couldn’t...

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Should you worry about the new tougher stress test?

If you’ve ever purchased a home, you may have heard the term stress test. As long as you were able to purchase your home, this might have been a fleeting thought and you didn’t put too muc...

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Facts You Might not Know About Second Mortgages

As a homeowner, you’ve likely heard about second mortgages – you may even know someone who has taken out a second mortgage on their home. However, for many homeowners, there is a lot of co...

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First Time Homebuyer Incentive 2.0

Buying a home is the dream for many Canadians, but sometimes it can seem like it’s out of reach for Canadians because they don’t have the upfront capital but they are fully capable of maki...

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The Mortgage Stress Test Just Got Harder - Now What?

As if buying your home isn’t stressful enough, now you start to hear talk about an increased stress test to make sure you can financially afford your home and you start to think about whether or...

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Tips for Saving for a Down Payment on Your First Home

With the way the real estate market is right now, owning your own home might seem like this far off, distant dream you will never achieve. Saving up for the amount of a down payment you will need for ...

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How much mortgage can I afford?

Buying a house is a really exciting time, but it is still the single biggest purchase most of us will ever make in our lives so making sure you can afford the house you are buying is important. Before...

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5 Ways to Save Money before the Bank of Canada Increases Interest Rates

For a while now there has been a lot of talk about The Bank of Canada increasing prime, which would affect interest rates for anyone that has borrowed money or will be thinking about borrowing soon. I...

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What happens if I lose my job before closing?

Buying your first house, or even just that bigger house for your family, is a really exciting time for anyone. There is, however, usually some time between the day your offer is accepted and the day y...

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