News

September 23, 2024

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…

How a Legal Basement Suite Can Help You Qualify for a Mortgage

September 16, 2024

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…

Do You NEED 20% Down for Your Next Home?

September 9, 2024

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…

Can You Still Get a Mortgage With Bad Credit?

September 4, 2024

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…

The Impact of Bank of Canada Rate Cuts on Fixed Mortgage Rates

Mr. Bongo

August 27, 2024

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…

The Hidden Costs of 30-Year Amortizations

August 19, 2024

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…

What the Bank of Canada Rate Cuts Mean For You

Mr. Bongo

August 12, 2024

The Bank of Canada recently dropped their key lending rate in July… Before you get too excited, it’s important to understand what these rate cuts really mean for you as a homebuyer. The Reality Behind Rate Cuts Rate cuts generate excitement, especially after the significant rate increases we’ve seen in…

30 Year Amortizations Are Back – Here Are the Conditions!

August 2, 2024

Since August 1st, 30-year amortizations have made a comeback in Canada! However, there are a few important details you need to be aware of. Who Qualifies for a 30-Year Amortization? 30-year amortizations are only available to first-time homebuyers who have less than 20% for a down payment. Also, it’s only…

Can You Roll Renovations into a Mortgage?

July 15, 2024