Relocating to a new country presents an exciting opportunity for personal growth, career development, and creating lasting memories in a new homeland. However, for newcomers to Canada, the process of obtaining a mortgage and purchasing a home may feel overwhelming and complex.
Read MoreMortgage refinancing is taking out a new loan to repay your existing mortgage. You may do this to take advantage of lower interest rates, to change the term of your loan, or to tap into the equity you've built up in your home.
Read MoreGetting your mortgage rejected can be hard to get over if you're just beginning your home search or bidding on the next place you're staying. You'll probably run through possible reasons the bank turned down your loan and some tips on how to deal with it. However, if you've been rejected for a mortgage, you may be more inclined to give up and move on.
Read MoreYour debt-to-income (DTI) ratio is the percentage of your monthly income that you spend on debt payments. Lenders use your DTI to decide whether to give you a loan and how much you can afford to borrow.
Read MoreIf you're looking to save money on your mortgage, you may consider refinancing mortgage strategies in Canada. Refinancing is the process of taking out a new loan to replace your existing mortgage. This new loan can have different terms than your original loan, saving you money over the life of the loan.
Read MoreConstruction loans in Canada are becoming increasingly popular as more people look to build their own homes. Of course, you might still be scratching your head, wondering if you should opt for construction loans or go with a typical mortgage. Well, there are a few things to understand before you make that decision, and today, we'll help you make that decision!
Read MorePurchasing a summer cottage or vacation home is one way that families are choosing to live differently and it’s more accessible than you think with the proper planning.
Read MoreAs a homeowner who wishes to unlock the equity that you’ve already built up in your current property, you might have been toying with the idea of getting a second mortgage. However, you might be wondering if it is indeed the best choice for you.
Read MoreFairly dividing debt obligations can be difficult during a divorce or breakup. Your mortgage is typically your largest liability, and it must be managed fairly in the face of high emotion and arguments at home. While you may be worried about what's going on inside your relationship, your mortgage lender will never know how you feel about the split.
Read MoreAs COVID-19 escalates dramatically in the second week of March 2020, several changes in the mortgage world directly start to affect homebuyers in both advantageous and potentially detrimental ways.
In the webinar above, Paul Davidescu speaks to the record low mortgage rates and how they are starting to trend upwards as lenders put in extra precautions and some even close their doors. We also cover the new-new stress test which replaces the one announced last month, and finally, we cover what else you can do as a current homeowner or renter to thrive in times of uncertainty.
Read MoreSelf-employed Canadians are finding it increasingly difficult to qualify for their ideal mortgage, as stress tests (which qualify you for a mortgage loan) and financing tighten up. But that doesn’t stop entrepreneurs like you who are competitive and persistent. Instead of giving up or taking no for an answer, you find inspiration and seek answers by looking to other people's wins and how they got ahead.
Read MoreWith the stress and hard work of being Self-employed, people often forget to plan for the foundations of setting themselves up for their future mortgage.
Additionally, Self-employed Canadians are finding it increasingly difficult to qualify for their ideal mortgage as stress tests and financing get tougher. It’s hard to balance out saving taxes with reduced income declarations and the realities of stress tests.
Here are three foundational things to not forget to do before you’re ready to actively find a mortgage that’s best for you.
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