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Divorce and Your Mortgage: Why a Separation Agreement Matters
folder_openMortgages, Purchasing a new home
No one enters a marriage expecting to separate or divorce, but it happens – and when it does, one of the big questions that arises is: What do we do with the house? Whether one person keeps the home or you both decide to sell it and buy new houses,…
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Variable VS Fixed Mortgage Rates – Which Should You Choose?
folder_openMortgages, Purchasing a new home
As interest rates have fallen consistently over the last few months, many homeowners and buyers ask an important question: should I choose a fixed or variable rate mortgage? Let’s break down what’s driving these rate changes and what you should consider when making your decision. Why Are Interest Rates Falling?…
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New Rules for Canadian Mortgage Amortizations!
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There is big news for Canadian homebuyers: the federal government has expanded access to the 30-year amortization for those putting down less than 20%. Previously, the longer amortization option was only available to first-time buyers purchasing newly built homes. Now, the rules are more accessible – read on or watch…
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What Canada’s Higher Insured Mortgage Limits Mean for You
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The Canadian government has announced big news regarding first-time homebuyers and insurance limits. This announcement may impact your ability to purchase a home with less than a 20% down payment. Higher Maximum Purchase Price for Low Down Payments The federal government increased the maximum purchase price for homes that qualify…
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How a Legal Basement Suite Can Help You Qualify for a Mortgage
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These days, many people look for creative ways to qualify for their mortgage, and one popular strategy is to buy a home with a legal basement suite. Whether it’s a new home or an existing property, having a legal suite can make a big difference when it comes to qualifying…
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Do You NEED 20% Down for Your Next Home?
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There’s a common misconception that every home purchase requires a 20% down payment. While it’s ideal to have a larger down payment as you move up the property ladder as you age, the reality is that you can still buy a home with less than 20% down – even if…
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Can You Still Get a Mortgage With Bad Credit?
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Many people obsess over their credit scores when it comes to getting a mortgage. While having a high score is great, if your score is over 700, it doesn’t really matter whether it’s 710 or 820! The real challenge starts to arise when your credit score drops below 650, and…
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The Impact of Bank of Canada Rate Cuts on Fixed Mortgage Rates
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Recent rate cuts by the Bank of Canada have sparked a lot of excitement, and many people assume that fixed mortgage rates will drop accordingly. However, the relationship between the Bank of Canada’s key lending rate and fixed mortgage rates isn’t as straightforward as it seems. In this blog, I’ll…
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The Hidden Costs of 30-Year Amortizations
folder_openMortgages, Purchasing a new home
Recently, I discussed the return of 30-year amortizations for first-time buyers purchasing a brand-new home. While this change might seem like a great way to make homeownership more accessible, it’s important to understand the drawbacks before jumping in. Check out my video for more information: The Upsides and Downsides of…
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