THE BLOG
How Much Difference Will Extra Payments Make Towards My Mortgage?
Have you ever wondered how much difference extra payments actually make in paying down your mortgage? Let's take a look and maybe do a little math. The first (and largest) factor to look at is the amortization, which is the remainder of your mortgage’s life. A...
New Construction Assignment
One of the benefits of working with an independent mortgage professional is having lots of great financing options! Rather than dealing with a single lender who has one set of products, brokers work with multiple lenders who offer a wide selection of mortgage...
Mortgage Documentation, Plan Ahead!
Collecting the right documentation to prove you are a worthy candidate to borrow a lot of money to buy a property can be an arduous task. The most recent government rule changes and tightening of mortgage qualification isn't making things easier. If you seem to think...
Avoid This Mistake When Shopping for a House
No doubt about it, buying a home is an emotional experience. It's a game of balancing needs and wants, while trying to be honest with yourself about those very needs and wants. It's hard to get it right, figuring out what's negotiable and what isn't... what you can...
Using Your RRSP To Help Buy A Home
Did you know that you can use your RRSP to help buy a home? In fact, you can, it’s called the RRSP Home Buyer’s Plan (or HBP for short). Here are a few things you need to know! It needs to be your first home (with some exceptions). Technically, you must not have owned...
Mortgage Options Into Retirement
Although it’s ideal to have your mortgage paid off by the time you retire, in today’s economy, that isn’t always possible. The cost of living is considerably higher than it has ever been, and as a result, a lot of Canadians are putting off retirement, hoping to make...
How Can I Pay Down My Mortgage Faster?
Although getting a mortgage is exciting as it allows you to become a homeowner, a mortgage is, in fact, a lot of debt. So if you have a mortgage, your goal should be to get rid of it as quickly as possible. Here are four things you can do to help pay off your mortgage...
What You Should Know About the Government’s New FTHB Incentive
Launched on September 2nd 2019, the first time home buyer’s incentive is designed to help qualified first time home buyers reduce their monthly expenses. The goal is to make housing more affordable. The government of Canada has set aside $241M for the program and has...
The Interest-Only Mortgage
Relatively self-explanatory, an interest-only mortgage is one where your entire mortgage payment goes to interest and does not pay down the principal mortgage amount at all. So at the end of your term, you will owe the same amount as when you got your mortgage. So you...
Maternity/Parental Leave, and Qualifying for a Mortgage
So your family is growing! Congratulations! If you’ve thought now is the time to find a new property to accommodate your growing family, but you’re unsure how your maternity or parental leave will impact your ability to get a mortgage, you’ve come to the right place!...
Why The Property Matters
When looking to qualify for a mortgage, typically a lender will want to review four main areas of your mortgage application. Income, credit, downpayment/equity and the property itself. Assuming you have a great job, excellent credit, and sufficient money in the bank...
What You Should Know About Buying A Home With a Rental Suite
Thinking about buying a home with a rental suite? This can be a great idea if you want to help offset the cost of your home expenses, and it can also potentially help with qualifying for a mortgage on your new purchase, but there are some things you should know up...
GET IN TOUCH
Cynthia Dreger | Mortgage Consultant
