March 22nd, 2018
According to the National Reverse Lenders Association, more than 1,035,000 households had utilized an FHA-insured reverse mortgage by 2017. The equity value of homeowners age 62 and older exceeded $6.3 … [read more]
March 2nd, 2018
If you’re an aspiring first-time home buyer in Toronto, we get it: It seems like everything from government intervention, rising home prices, and increasing mortgage rates are conspiring against your … [read more]
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February 16th, 2018
If you’re switching jobs or plan to in the near future, you might want to know how that impacts your ability to buy a house. After all, purchasing a home … [read more]
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February 8th, 2018
The percentage of non-permanent residents (NPR) living in Vancouver who hold mortgages in the city increased from 3.3% in 2014 to 3.9% in 2016, according to new CMHC data, and … [read more]
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January 26th, 2018
All five of the major Canadian Banks, BMO, CIBC, Royal, Scotiabank, and TD, raised interest rates on their bank prime rates by a quarter percentage point. There is no difference … [read more]
Comments Off on Canadian Banks Match Bank of Canada’s Interest Rate Hike are Impacting Mortgages & Loans
January 25th, 2018
Having a home to your name is the best thing you can have but getting from the homeownership dream to actually owning a home is a tough journey. With financial … [read more]
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January 24th, 2018
The Greek Stoic philosopher Epictetus once stated, “Wealth consists not in having great possessions, but in having few wants.” One may be tempted to dismiss Epictetus’ advice since, born a … [read more]
Comments Off on What to Expect When Renewing the Mortgage in 2018
January 24th, 2018
As expected, the Bank of Canada hiked its target for the overnight rate Wednesday morning, giving current and potential homebuyers cause to consider their future mortgage options. “As expected the … [read more]
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January 16th, 2018
There are several factors that go into the decision to approve or deny your mortgage request when you buy a home: your income, your debts, the appraisal on your chosen … [read more]
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January 15th, 2018
Probably the biggest difference between a real estate investor and a homeowner is how they approach financing a property purchase. Investors look for creative financing solutions that meet their investing … [read more]
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January 8th, 2018
The decision to buy your first home is a major milestone, and homeownership is a point of pride for many Canadians. The latest RBC home ownership poll reveals a majority … [read more]
Comments Off on Saving for A Down Payment Takes Patience & Discipline
January 5th, 2018
If you’re someone who keeps a lot of cash in long-term savings, the thought of an interest rate hike is thrilling. However, most other consumers greet the news with dread … [read more]
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January 3rd, 2018
The process of buying a home is a very involved one, and can be daunting, especially for first-time buyers. It’s often a whirlwind of paperwork, credit reports, and scrambling to … [read more]
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December 20th, 2017
Time is running out before new Canadian mortgage rules kick in, which could potentially make it harder for first-time buyers to get a mortgage. On January 1, the Office of … [read more]
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December 19th, 2017
Buying a home, and especially obtaining your first mortgage, is a major responsibility, not to mention a significant marker of life transition. Say you’re a newly minted university grad and … [read more]
Comments Off on Pros & Cons of Co-Signing Arrangements on A Mortgage
December 14th, 2017
For most people, purchasing a home is one of the biggest investments they’ll make in their lives. For this reason, it is imperative to carefully consider and review each step … [read more]
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December 12th, 2017
A good strategy to save the down payment and closing costs to purchase a home requires several steps. While saving money towards the down payment is always good, it’s not … [read more]
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November 30th, 2017
When our parents were young and buying their first homes, the career expectations were simple: go to school, get a good job, work hard, and you’ll be rewarded for your … [read more]
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November 28th, 2017
Being a first-time home buyer can be overwhelming: Not only must you find an option that suites your family, neighbourhood and amenity needs (not to mention your budget), chances are … [read more]
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November 27th, 2017
So you finally found a home of your dreams but the big ‘F’ is the problem. You have no idea where you will get the money. Your credit history is … [read more]
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November 24th, 2017
High real estate prices and new mortgage rules designed to clamp down on risky lending have made it harder than ever for first-time buyers to own a home. So it’s … [read more]
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October 25th, 2017
The Bank of Canada has hiked its trend setting interest rate twice this past year and – a mere month ago – was strongly expected to do so in October, … [read more]
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