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  • How to manage your inheritance - Receiving an inheritance usually means the death of a loved one or a close friend, so firstly my condolences for your loss. Losing someone you love is never easy. But if you have recently received an inheritance, there is a silver lining. Whether it’s big or small, an inheritance can provide you with a life-changing ...
  • RESPs…For Christmas? - The holidays are upon us. Which means it’s time to start wrapping up our Christmas shopping, finish decorating the tree, and getting ready for the annual Christmas feast (which may look a little smaller this year with safety guidelines). But do you know what the best gift to give your child is? The gift of ...
  • Fixed vs variable mortgages – what’s the difference? - Buying a home is an exciting time, but it’s also a big financial step in your life that can be stressful and overwhelming, especially as a first-time homebuyer. One of the first things you must decide as a new homebuyer is choosing what type of mortgage to get. Wait…there are different kinds?! Yes, there are, ...
  • How much mortgage can you afford? - Buying a home is an exciting time. You get to look at different homes, check out different neighbourhoods, get to decide what colours to paint the walls – but there’s a lot that has to happen first before that sold sign goes up on the front lawn. Before you even begin to start looking at ...
  • For the love of Barrie – in the fall. - There is so much to discover in the beautiful city of Barrie. From its lively arts and culture scene to fun family weekend activities, there is lots to do in Barrie that’s fun for you and the family! Although COVID-19 regulations are still in effect, there are still tons of activities that you can participate ...
  • How to finance an investment property to create a second stream of income - Whether you’re interested in a new and exciting business venture or are looking for a way to create another stream of income outside of your regular salary, an investment property may be a great opportunity for you. What’s an investment property? An investment property is a property owned with the intention of earning a return ...
  • How to prepare for a possible rise in interest rates — especially if you have multiple mortgages - As someone who has invested in real estate, you are probably keeping a close eye on interest rates. Not that we can predict when and if interest rates will increase again soon, but it’s important to always be prepared financially in case they do – especially if you have multiple mortgages. A rise in interest ...
  • 5 things to think about as a first-time home buyer (beyond your down payment) - So, you’ve been saving for your first home, and you now have enough for a decent-sized down payment. That’s great news! The bigger the down payment you have, the better. However, just because you have a great down payment, doesn’t always guarantee you will be approved for a mortgage and there are a few other ...
  • Did your mortgage application get rejected? Here’s what to do - Having your mortgage application get rejected can be disheartening. However, just because you have been rejected by one lender doesn’t mean you can’t get a mortgage. Every bank has different criteria as to what is required to be approved for a mortgage – so don’t let yourself get discouraged by one rejection. But, if you ...
  • 3 Key steps to take when looking to build instead of buying your dream home - Whether you’re a picky home buyer or looking to take on a new and exciting creative challenge, building your own home is an extremely rewarding experience. In doing so, you’ll have the benefit of controlling every creative decision that goes into your house, making it the perfect place for you and your family to call ...
  • Mortgages and rental properties. What you need to know. - If there is one thing that many of us have learned in the past few months, it might be that it’s really hard to create financial security with only one stream of income. With layoffs sadly being a large contributor to the increase in unemployment because of COVID-19, many families in Barrie and the surrounding ...
  • The challenges of getting a mortgage when you’re self-employed - Being self-employed makes a business owner feel truly independent. It’s a big responsibility finding your own customers or clients, doing the work, taking care of the paperwork, payments, and accounting. With all that on your to-do list, you’d like to think securing a mortgage wouldn’t be a trying task to take care of. However, what ...
  • What happens to your mortgage if you get divorced? - Once upon a time, in a house, you both adored, you were equally happy. But, as life changes, and sometimes divorce happens, you might be wondering someday, what would happen to the house you bought together if you were to get divorced. It’s a fair question and can be an emotional one at that. To ...
  • What is mortgage insurance and why you might need it? - When you buy a home in Ontario there are a few things you need to know about securing a new mortgage. One of which is knowing how much of a down payment you’ll need in order to be able to buy a home, and then how much that mortgage will cost you each month until ...
  • Understanding the basics of a mortgage - You’ve been wanting to become a home owner for a while now and you’ve heard you need a mortgage to buy a home but, you’re not sure how it works or what is involved. To help you understand the process of applying for and securing the mortgage you need to buy your first home I’ve ...
  • Rent It or Flip It? That is the question - Creating wealth long-term is tricky. Do you invest in life insurance? In stocks? In RRSPs? In real estate? If you’re thinking of investing in real estate, do you look for a home to buy low and flip high? Or, do you look for a home that has income potential with multiple units you can rent? ...
  • You have the cash…Should you pay off your mortgage in full, in the midst, of COVID-19? - The year 2020, has been a whirlwind. What started off for many as the year they planned to level up their finances and get ahead in building that nest egg for retirement, COVID-19 hit us all out of nowhere. We’ve watched the numbers go up and down, rates drop, real estate prices drop and small ...
  • My Mortgage is Up For Renewal, Now What? - When you buy your first home, securing your mortgage and wading through all the paperwork that comes along with it seemed overwhelming. Then, you got the keys, moved in, and forgot all about your mortgage, aside from paying your mortgage payments that is. That mortgage contract you signed was good for a few years but, ...
  • Trade Secrets First-Time Home Buyers Need To Know About! - When you’ve never bought a home or property before, the entire process can be daunting. You get excited looking at homes online every chance you get. You get butterflies thinking about your new home and all the amazing features your dream property will have. But, what you might not get excited about and should, is ...
  • 5 Things to Know If Your Mortgage Renews in 2020 - The year 2020…will be one to remember for years to come. The year that the world nearly stopped but then happily restarted a few months later. The year we all realized we were too busy for our own good. The year we had to socially distance ourselves in our homes. It’s also the year mortgage ...
  • What Are Closing Costs? And, How Much Are They Going To Cost Me? - You’ve got your financial ducks in a row. You’ve got your down payment together. You’ve got the paperwork you think you might need to get pre-approved for the mortgage you want but, are you prepared for the extra closing costs? What are closing costs? Closing costs are a couple of extras that you might not ...
  • Breaking into the real estate market as a first time home buyer – what you need to know - Being a first time home buyer is really exciting, but can also be scary, intimidating, and overwhelming at times. Looking at a home and picturing yourself living there can also be tough. Don’t sweat it though, I’ve helped many first time home buyers through the process from start the finish many times. From figuring out ...
  • Gearing up for the spring real estate market in the shadow of COVID-19 - In February 2020, the real estate market was seeing increases in house prices, bidding wars, firm offers, and a whole lot of competition when it came to buying a home in Barrie and the surrounding area. Now looking ahead after the rise of COVID-19 and on-going; lockdowns and lay-offs, the market has cooled faster than ...
  • Dealing with Debt, your mortgage & COVID-19: As a laid-off employee - 2020 has been a year of ups and downs already and we haven’t even hit the spring housing market yet. Many of us are waiting in limbo to see how long COVID-19 is going to stick around, keeping us cooped up indoors while the weather outside is getting warmer by the day. I’ve had many ...
  • Recently Separated? Here’s What You Need to Know About Getting a Mortgage - Separating from a partner is no easy task and can be an emotionally draining and stressful experience. However, it isn’t an experience to feel ashamed of as many of us go through a divorce during our life journey. If you are recently divorced or separated, typically there is a need to start again on a ...
  • A Quick Guide to Mortgages for the Self-Employed - Canadians who are self-employed are trailblazers for our economy. However, when you’re self-employed, there are more hurdles to overcome when trying to get approved for a mortgage. Some lenders typically don’t see self-employed people as ideal borrowers and it can be difficult to find a lender who even wants to work with someone who is. ...
  • New Year, New Financial Success - Many people make resolutions each year to get organized, eat healthy or exercise more. While those are all great pursuits, it’s also important to get your finances in order and work towards the goal of achieving more positive results where your money and lifestyle is concerned. More and more Canadians are getting deeper into debt, ...
  • RESPs As a Holiday Gift Idea - Thinking of a great gift for your kids, grandkids, nieces or nephews this Christmas? Have you considered contributing to their Registered Education Savings Plan (RESPs)? While it may not offer that giggly delight upon opening as some toys or trending gifts might, it sure does a lot to help them reach their life goals in ...
  • Top Tips to Keep Out of Debt this Holiday Season - There’s a lot of pressure every holiday season to spend, spend, spend! From gifts for friends, family and coworkers, to decorations, dinners and parties; the money just flies out of the wallet! While it’s definitely challenging to stick to financial goals and avoid going deeper into debt this time of year, there are ways to ...
  • Tips for Closing up the Cottage - We’ve certainly enjoyed great weather this summer, but now that fall is officially here, it’s time to start planning the cottage close up. Whether it’s a tiny cabin, a waterfront oasis or a woodland retreat, there are certain maintenance essentials that must be tackled when closing your cottage before winter sets in. Here is a ...
  • Don’t Get Lost When It Comes to Closing Costs - A big part of a mortgage application involves assessing what clients can afford in a home based on their current income and assets. However, that doesn’t just involve the home purchase price and the down-payment…it also means talking to clients about closing costs. Often this is a topic they aren’t very familiar with, yet it’s ...
  • Earth Day – 3 Ways to Help Out Around Your Home - With Earth Day just around the corner, a lot of folks will be putting in that extra effort to help care for our amazing planet. There are several local clean-up initiatives in and around Barrie and Simcoe County going on that we can take part in, but the spirit and energy of Earth Day can ...
  • Time to Renew Your Mortgage? Read this First. - A lot of people cringe at mortgage renewal time and think it’s a complicated, awkward process. However, when armed with a bit of time to research and shop around, renewal time doesn’t have to be difficult at all, and it will help make future renewals a piece of cake. When we arrange for our first ...
  • RRSPs – Cool Facts & How to Axe the Tax - Since we are knee-deep in tax season, it seems the perfect time to continue to explore the topic of RRSPs. We know that saving for our retirement is important, especially now that we’re living longer, and contending with a high cost of living and dwindling Canada Pension Plan and Old Age Security coffers. When we’re ...
  • I’m Young – Do I Invest in RRSPs or TFSAs? - Young people today have a much different life and lifestyle compared to just a generation or two ago. They don’t follow the path their parents or grandparents may have taken which involved getting married, buying a house, having a couple of kids, and keeping a full time, permanent job often in the same line of ...
  • What’s Your Investment Risk Profile? - Deciding to get more serious about your current investments or thinking you would like to set up your first official portfolio? Before doing so, you need to think about not just how much you’re willing to invest, but how much your willing to risk. All investments come with risk, some more than others. Understanding your ...
  • Saving for Your Child’s Education – Where to Start - With many families working towards reducing debt, saving for a down-payment, and investing in our retirement, the thought of finding ways to start saving for our child’s education seems like an unattainable goal most days, especially if it’s 10 or even 18 years in the future. Post-secondary education can get quite expensive as we all ...
  • RRSP Basics & Beyond -   Most Canadians know a little bit about RRSPs (Registered Retirement Savings Plan), but it still seems to be a murky topic overall. So, let’s learn a little more about them and why they are important, no matter what your financial situation is currently. RRSPs have been around since the 1950s, with the simple aim ...
  • What to do with an Inheritance? - At first, it may seem like a silly question; receiving an inheritance would be a welcome financial windfall, despite the sad circumstances. For most of us, even a small amount could make a big impact and reduce some of the financial stress we tend to carry around with us. However, it’s important to carefully plan ...
  • Counting on an Inheritance for your Retirement? Key Issues to Consider - Saving for retirement is an important topic. With our unpredictable economy, increasing debt loads, student loans, and high home prices – combined with the fact that more and more people are working part-time, contract or self-employment work with no pension options, the future may seem pretty darn uncertain. Many Canadians (almost half according to a ...
  • Retiring with More Wealth -   If you’re dreaming of retiring, but not sure how you’ll afford it, you’re not alone. Canadians are living longer, but with the cost of living so high, it’s difficult to plan financially for a much-anticipated retirement. While many people are happy to work long past the traditional retirement age of 65 years old, we ...
  • What’s The Difference Between a Broker VS a Banker? -   As a first-time home buyer, it’s intimidating even just thinking about stepping into the world of home ownership. It’s also a very rewarding experience, as well but, when it comes to house hunting the first place to start is really investigating your mortgage options to learn what you can and possibly can’t afford. I ...
  • Getting ready – What you need to get that mortgage pre-approval - Things move quickly these days. Order online & your package can be there the next day! Message your friend & you get a reply in a millisecond. However, when applying for a mortgage, the process doesn’t happen in a flash; it can take several days or longer for the paperwork to be reviewed and documents ...
  • Easy Ways to Save Money & Reach Financial Goals - As a new year creeps up on us, we often find ourselves thinking about resolutions and goals we want to set. Resolutions are all about striving for success – whether it’s related to our health, fitness, careers, personal goals or finances. In this line of work, I talk to a lot of folks who are ...
  • The Renovation Rundown - With home values and interest rates being unpredictable this past year, many people are deciding to hold off on selling or purchasing a home until they are more confident in the market. The good news is that it can be a great opportunity to renovate – either to enhance future resale values, or simply to ...
  • Interested in Interest Rates? Here’s What You Need to Know - Interest rates in Canada have been a pretty popular topic as of late. Although the Bank of Canada has kept interest rates at the same level in March, previous increases and the prediction that interest rates could soon rise again have Canadians curious about how this rate change may affect their mortgage (including mortgage renewals), ...
  • My Credit Is Good, Do I Really Need A Mortgage Broker? - If my credit is good, I don’t need to work with a mortgage broker, right? Actually, no. It’s a common misconception that mortgage brokers can only benefit first-time homebuyers or those struggling with a bad credit rating. The truth is, brokers work with a range of different clients with varying budgets and mortgage needs, from ...
  • Should I Ever Waive The Financing Condition? - For first time home buyers, the process of purchasing your very first home can often be described as an interesting mix of thrills, excitement and terror. After all, your home is one of the largest purchases and investments that you will make in your lifetime. It’s also one of the most complex, which means it’s ...
  • What Happens To My House in a Bankruptcy? - Are you struggling to deal with overwhelming debt? Rest assured, you’re definitely not alone. In fact, a recent report shows that Canadians now carry the biggest debt-to-income load, with the average Canadian owing $171 for every $100 dollars of disposable income. This is significantly higher than even one year ago, and it means debt loads ...
  • Home Values in Simcoe County – What Do Falling Prices Mean for You? - Home appraisals in the last few weeks suggest a new trend in real estate in Simcoe County – the value of home prices in our area is on the decline, with the average home appraisal coming in 10 percent lower. This news will have a definite impact on home sales moving forward in 2018. Although ...
  • Why Was my Home Appraised at Less Than the Realtor’s Appraisal? - Imagine going off to finalize the purchase your first home, which you love, and the price is right. You sign the purchase agreement, head over to see your lender, who states they will get the home appraised and get back to you. The next thing you hear, the appraiser has come back and has valued ...
  • Why the best mortgage rate is not always the lowest - I love my job as a mortgage broker, and my clients love that I help them navigate the complicated world of mortgages! They rely on me to help get the best rates and are sometimes surprised to learn that it doesn’t always mean the lowest rates. Let me explain… Just like shopping for a vehicle; ...
  • How To Improve Your Credit Score To Make The Mortgage Approval Process Easier - For many people, the term “credit score” can give them goosebumps. If you’ve struggled with debt in the past, getting a good credit score may feel like it is impossible, but with time, effort and these 5 tips you can drastically improve your score. There are many factors that go into determining what your credit ...
  • How Are Mortgage Pre-Payment Penalties Calculated? -   You’ve done it! After years of saving, careful financial planning, and a little bit of luck, you’ve cobbled together enough money to pay off the mortgage. In fact, you’re way ahead of schedule! Years, even. So obviously, it’s time to make the final payment, pop open the champagne, and toast to your new status ...
  • How To Access The Extra Cash AKA The Equity In Your Home - If you own your home but suddenly find yourself in need of cash, then you might want to consider accessing the equity in your house to use as your own personal loan. Your “equity” is the list price of your house minus any debts you currently owe on it. This could translate to hundreds of ...
  • When Is The Best Time Of Year To Buy A House? - Making a deal on a house is like any negotiation: It’s all about leverage. No one wants to pay the list price, but if you don’t think about your negotiating position before making an offer, you might end up paying even MORE than the list price. With that in mind, the most important way to ...
  • To Buy Or To Rent… That Is The Question. - Have you ever heard the old real estate saying, “Why rent when you can buy?” If it’s so often said, you’re probably beginning to wonder if it’s true. They say it all the time, it just has to be true, right? If you should rent or buy depends on a variety of factors, but buying ...
  • The 5 Biggest Mistakes First-Time Homebuyers Make - The process of buying a house is filled with unknowns and missteps so common any new home buyer seasoned or not could fall prey to them. If you’re entering the real estate market for the first time, then it makes sense to learn from the mistakes others have made before you, so that your quest ...
  • What’s the Difference Between Being Pre-Qualified For A Mortgage VS. Pre-Approved? - Ah, the age-old question! These two terms have been confusing home buyers for years, and while they sound like the exact same thing, they’re actually worlds apart. In fact, the difference between them could derail your chances of buying a house! We’ve talked before about why it is vital to get a pre-approved mortgage, but ...
  • 3 Reasons You NEED to get Pre-Approved for a Mortgage - In my last post, I mentioned that getting pre-approved for a mortgage before you sell your house is a wise move. With the real estate market moving as quickly as it is, I wanted to take a deeper dive into why getting a pre-approved mortgage isn’t just recommended, it’s vital. (To be clear, a pre-approved ...
  • 5 Things to Keep in Mind When Selling Your Home -     A hot real estate market can be very exciting for homeowners new and seasoned, especially if you’re thinking of selling your home. The thought of having more buyers than homes listed is incentive enough for most to sell with the hope of receiving an optimal offer for your home. However, you should take ...
  • Saving For School: Everything You Need To Know About RESPs - As tuition prices climb and the need for a post-secondary education becomes more and more of a requirement in the job market, it is no wonder that parents across Canada are starting to sweat about the cost of sending their child to college or university. However, with the help of an RESP you can alleviate ...
  • Planning Ahead: How To Save For Post-Secondary Schooling - Covering the cost of education today is no laughing matter. With tuition rates on the rise, and more and more jobs requiring a post-secondary education, adding up the costs can be a major stressor. However, opening a savings account can help you stash away some cash to help cover the costs, and give you peace ...
  • Stashing Cash: How To Save For Your Down Payment - One of the biggest struggles when looking to buy a home is saving for your down payment. While the initial cost can be hard to swallow, making a solid target and plan for your savings can make it much more feasible. Let’s take a look at some simple steps you should follow to help lower ...
  • APPROVED: 5 Ways To Help The Approval Of Your Mortgage - The process of applying for a mortgage to buy a new home is a very exciting time. Whether it’s your first home, or you’re upgrading to a larger home because of your growing family, the idea of buying a house to become a home can bring on a lot of emotion. However, when a mortgage ...
  • First Time Homeowners – What You Should Know Before You Buy - Buying your first home can be a very exciting time, however, it can also be a very stressful and action packed process. From saving your down payment to a mortgage approval, all the way to finding the perfect home – It all takes time and effort. While it’s a bit of an adventure for a ...
  • Life Insurance vs Mortgage Insurance: Which Is The Better Option? - When it comes to buying a home, a major step of the process is deciding on insurance to protect your new investment. With various terms and financial jargon being tossed around, it can be tough to understand exactly which option is best suited for you when it comes to choosing between mortgage insurance and mortgage ...
  • Borrowing Against Equity: Everything You Need To Know About Reverse Mortgages - When it comes time to retire from the workforce, it can bring on mixed emotions. What should be a time of celebration and relaxation can often be overshadowed by worries and financial stress. Taking a big loss in income can take its toll on your lifestyle and your financial freedom. However, with the help of ...
  • Mortgage Roadmap: CMHC Releases Home Buying Guide - Buying a home is typically the single most important investment you will ever make, so it’s no wonder that becoming a first-time home buyer can be a time of both excitement and confusion-fueled stress. For most first-time buyers, the process of purchasing a home comes with many steps, questions, and uncertainties revolving around the mortgage ...
  • The Golden Years: How To Get Money From Your Home In Retirement - The golden age of retirement, a time that most of us spend our lives waiting for. While it’s often painted as a picture of relaxation and leisure, there can be financial concerns attached to it. With a lower income and tapping into your savings, retirement can bring up a lot of worry and stress. However, ...
  • IRD: Why Breaking Your Mortgage Can Cost You - When it comes to finalizing a mortgage, both the lender and the borrower sign on under the expectation that the length of the agreed term will be lived out. Not only does this give the borrower a lengthy amount of time to pay off their loan, it also gives the lender a steady line of ...
  • Mortgage Myths First-Time Buyers Fall For - With such a plethora of mortgage information floating around the internet, it can be confusing for a first time home buyer to understand what is fact and what is fiction. Falling for the major mortgage myths can often deter a first-time buyer from following through with mortgage applications, and more so, can cause a lot ...
  • Get GO-ing: Why Everyone is Getting On Board With GO - With the housing costs in the Greater Toronto Area continuing to rise, it’s no wonder that so many city-dwellers are packing up, moving north and commuting to the city during the work week. While most of us would dread that slow-crawling commute each morning on the DVP or the 401, many have opted to trade ...
  • Buyer Beware: What You Need To Know About Financing Conditions & Firm Offers - When it comes time to buy a home, it is important to understand all of the conditions that come with making an offer of sale. Having a financing condition as part of your purchase agreement can not only give you a legal ‘out’ for any financial liabilities, but it can also prevent you from losing ...
  • Debt Debacles: Should You Settle or Consolidate? - When it comes to debt, it’s much like the common cold; everyone experiences it at some point. The trick is to monitor your debt and weigh all your options for repayment before you slip into a financial mess. While many financial institutions offer debt settlement and consolidation, it’s important to know and understand exactly what ...
  • Playing It Safe: Everything You Need To Know About Mortgage Default Insurance - Whether it be when you’re applying for a new mortgage or updating an existing one, mortgage default insurance is always a viable option to help protect your financial liabilities and obligations, especially when crisis strikes. Let’s take a look at some key points to know about insuring your mortgage, to help you better understand what ...
  • How To Apply For A Mortgage After Bankruptcy - Having bankruptcy on your financial record can often feel like you’re wearing the scarlet letter when it comes to filing for a mortgage. However, mortgage brokers are here to help. While a previous bankruptcy can cause its fair share of hiccups in your mortgage application, there are steps you can take in order to become ...
  • Brokers vs Banks – Which Is The Right Mortgage Lender For You? - A common question asked by those seeking a mortgage is whether or not to use a mortgage broker or a bank as their lender. While both may seem to offer the same services, each comes with its own set of stipulations and provisions. Let’s a take a look at the difference between a mortgage broker ...
  • Bad Mortgage Behaviour: 8 Ways to Halt Your Mortgage Approval - When looking to buy a home, the application for a mortgage can be a lengthy process from start to finish. However, during that time, issues can arise and changes in income, employment and credit can bring your application to a screeching halt. Let’s take a look at some bad mortgage behaviour that can prevent your ...
  • Keeping A Clean Record: How Your Credit Score Affects Your Mortgage - While everyone’s financial situation varies, one thing that remains the same is that everyone has a financial finger print known as their credit score. Your credit score is a number on a spectrum that indicates your capability to repay a loan. This number is what lenders use to evaluate not only if you qualify for ...
  • Rookie Mistakes: 5 Errors First Time Home Buyers Make - Purchasing your first home can be a very exciting and almost overwhelming experience, especially if you’re unsure of the steps to take. So often first-time home buyers make classic major mistakes in the home buying process that can leave them disappointed, and more so, in some financial hot water. Let’s take a look at the ...
  • What are my options when I renew my mortgage? - If your mortgage is soon coming up for renewal, you’ll want to do your research well in advance to make sure that you get the best rates along with the best terms from your lender. One of the worst mistakes home owners in the Barrie and surrounding area tend to make is to let their ...
  • Determining your Default Insurance - When you borrow money towards the purchase of a home, a mortgage broker or lender will most likely require default insurance. This insurance acts as a sort of safety net for the broker and lender, should anything go sour in the agreement. It is not an uncommon cost, but the amount and how it’s paid ...
  • How To Prepare Your Home To Become A Rental Unit - In today’s job market, more and more people are turning their attention to generating extra income by becoming a landlord, investing in rental property. While it can be a difficult process and requires constant attention and upkeep, owning a rental unit can prove to have its financial benefits. But before you go collecting rent cheques, ...
  • Time’s Up! What To Do Before You Renew Your Mortgage - When it comes time to renew your mortgage, there can be many changes to be made. From smaller scale changes like frequency of payments to making big decisions in terms of switching financial lenders for better terms or more savings, there are several major steps you should take before you renew. Let’s delve into the ...
  • What You Need To Know Before You Buy An Investment Property - Buying an investment property is often seen as a quick and easy way to bring in some extra money. However, while the profits from a rental property can be fantastic, it’s not without hard work. Before you sign on the dotted line to purchase a secondary property to lease, here are a few things you ...
  • Amortization: What It Means & How It Affects Your Mortgage - A common word heard when discussing mortgages is “amortization”. Basically, the word refers to the time period in which it will take you to repay your mortgage in full. So, how do different amortization periods affect you? Due to interest, it goes without saying that the longer the amortization period, the more you end up ...
  • Becoming A Landlord: Your Rights, Rules & Regulations - Becoming a landlord to a rental unit you’ve just purchased as an investment property can be a great way to create some extra income. However, there are some things you should know before you decide to sign on for the job. Both tenants and landlords have rights, rules and regulations they must follow, and a ...
  • Up, Down & Unpredictable: Where Are Mortgage Rates Heading - Whether it be first time buyers or those looking to refinance, one of the most common questions I get asked is, “what is “typically” a good mortgage rate?”. Especially for first time home buyers, evaluating the mortgage rates over the past few years can give you an idea of where the trend in pricing is ...
  • The Top 5 Tips To Renting A Property You’ll Want To Know Before Becoming A Landlord - Are you thinking of purchasing an investment property or are looking to rent out a unit within your home? While being a landlord can turn an easy profit, it can also be a lot of work with a great deal of preparation before that moving van arrives. Let’s explore some of my top tips you ...
  • Top Tips For Buying An Investment Property - A common question asked in today’s housing market is whether or not an investment property is a feasible purchase. While a great deal of that answer is dependent on your income, expenses and debt, there are a slew of other factors to consider before investing in another property.   By definition, an investment property is ...
  • Land Transfer Tax: What It Is & Who Pays It - When you’re buying a home, an additional cost to the home purchase that is often overlooked is the cost of the LTT, or Land Transfer Tax. In Ontario, LTT is an amount paid upon the closing of a home sale based on the amount paid on the land. While the LTT is the responsibility of ...
  • Porting A Mortgage: What Is It & Is It Right For Me? - The idea of porting a mortgage technically means to transfer an existing mortgage from one property to another, basically moving the debt from one home purchase to another, providing the original home is sold and the rates & terms of the mortgage remain the same. In a nutshell “porting a mortgage” means, you would be ...
  • Can I Afford To Buy A Cottage? - Buying a cottage to escape the busy city life is an active part of most Canadian’s aspirations. However, with the high prices & higher resale risk, purchasing a cottage can prove to be less affordable than once thought, with financial specialists going as far as calling it a “lifestyle choice” rather than an investment. On ...
  • What Does It Mean To “Assume A Mortgage”? - A term you might have heard when financing the purchase of a new home is “mortgage assumption”. The concept behind assuming a mortgage is decades old but offers a list of pro and cons for both the buyer and the seller. What is Mortgage Assumption? Assuming a mortgage is basically a financing agreement in which ...
  • Bad Credit Have You Stressed? - Having the looming knowledge of a poor credit score can haunt you every day. However, fixing it can be easier than you think if you make a plan and stick to it. Here are some simple ways you can turn your poor credit score around. Keep Balances Low It’s easy to max out a credit ...
  • What Makes Variable Interest Rates Rise And Fall? - This summer we have seen both fixed and variable interest rates consistently at historical, rock-bottom lows and in previous blogs we have explained what impacts the rise and fall of fixed mortgage rates, but what impacts the rise and falls in variable rates is still a burning question. Your variable interest rate on your mortgage ...
  • What Impacts Fixed Mortgage Rates And Cause Them To Fluctuate? - With the real estate market being sizzling hot, and mortgage rates at all-time lows now is the time to become a first-time homeowner. Though as many young professionals are boarding the boat for this new adventure in their lives, some are concerned that interest rates are about to change. What we  have seen in the ...
  • Why You Shouldn’t Just Sign Back Your Mortgage Renewal Letter - As a homeowner, dealing with the paperwork when it comes to your initial real estate offer, your home insurance, and your mortgage are all tasks that we tend to push off until the last possible moment. When it comes to your mortgage specifically after signing off on your initial lender’s agreement it can be very ...
  • Should You Roll Your Property Taxes Into Your Mortgage Payments or Pay Them Directly? - When finalizing the mortgage for your new home one of the questions you will have to answer is whether you would like to pay your property taxes through your municipality or if you would like to roll those tax payments into your regular mortgage payments. For some, one option makes more sense than the other ...
  • What is a Refinance Plus Improvements Mortgage & Why Would You Want One? - When it comes to renewing your mortgage one of the biggest missed opportunities that I see is people just letting their mortgage auto-renew. It’s a missed opportunity because after reviewing your current mortgage, its terms and your family’s current situation, you could be not only saving money long term by locking in at a lower ...
  • Is Your Dream Home More Possible Than You Think? - House hunting in today’s hot market, while also working within a limited budget hoping to land a great deal on your dream home can be a difficult task to undertake. But if the homes you’ve been looking at have the potential of becoming your dream home with a few renovations, a purchase plus improvements mortgage ...
  • 6 Home Improvement Secrets To Increasing The Value Of Your Home - Whether you’re ready for a change around the house or you’re looking to list your home for sale in today’s hot market, you might be contemplating a few renovations. But, what renovations give you the best bang for your buck and will help you not only improve the visual of your home but also increase ...
  • What is an Assumable Mortgage and What is the Benefit of Having One? - The options when securing a mortgage to fund the purchase of your dream home can seem endless when weighing the pros and cons of each. When doing so, be sure to ask your mortgage lender any questions that pop into your head, so that you have a full understanding of what you’re signing on for. ...
  • What is a Portable Mortgage? - When your hunting for your dream home, there’s so much to think about. Between finding the perfect backyard oasis and the kitchen that you’ve always wanted, it can be very easy to sign off on your new mortgage pre-approval without really investigating your options. Some might not even realize that there are a variety of ...
  • The Challenges That Come With The Joys Of Buying A Cottage - As life gets busier with kids, work, and long highway commutes, we find ourselves daydreaming more and more of having a quiet Muskoka cottage to escape to. Waking up to the loons cooing on the lake, teaching your son to sit patiently enough to catch a fish and relaxing on the deck after a great ...
  • A Secured Line of Credit is a Great Safety Net - A line of credit is a great way to prepare for a “rainy day,” because although we like to think of a positive future, it’s a good idea to make sure there’s a safety net in place for unforeseen financial emergencies.  Like a credit card, a line of credit (LOC) allows you to access funds ...
  • A Secured Line of Credit Can Be a Big Help in the Future - No matter how carefully we prepare for “the future,” it’s always a mystery. It can hold adventure, and pleasant surprises; the future can also throw little bumps into the road like fiscal hardships or emergency situations. You may find that you need a little help paying the bills or filling in financial gaps from time ...
  • Be Prepared For Mortgage Renewal At A Higher Rate - Experienced home buyers will tell you that over the lifetime of a mortgage, you’ll definitely have to renew at a higher rate at some point. For the past six years, homeowners have been lucky to be in the position of renewing at similar, or lower rates. This fortunate streak won’t last forever. In order to ...
  • When mortgage rates go up, affordability goes down. - The debate as to whether or not Canada has a housing bubble is long-standing. However experts pretty much agree that low interest rates play a major part in holding up Canada’s house prices. Now, interest rates seem to be on the rise – and some insist that this is just the beginning. Because the dominant ...
  • How Much Mortgage Can I Afford? - Buying a home – especially your first home – can be thrilling. It’s easy to get carried away when you see that tantalizing property you really want. Many people convince themselves that it’ll be easy to squeeze that extra few hundred dollars out of their budget each month to “make it happen.” but in the ...
  • What is the Maximum Amortization Period Allowed in Canada? - As the market becomes less stable, insurable amortization periods have been shortening. The Canadian Mortgage and Housing Corporation (CMHC) has been Canada’s authority on housing for more than 65 years, offering objective housing research to Canadian governments, consumers and the housing industry. One of their cornerstones is prudent risk management. When the CMHC predicts a ...
  • The Benefits of Making Extra Mortgage Payments - Paying off your mortgage faster is an attractive idea for pretty much… every person, ever.  There are lots of ways to “get’r done” more quickly, such as increasing the amount of your regular payments, or choosing an accelerated option for your payment plan. But what are the benefits of making extra mortgage payments along the ...
  • The Benefits of Having a Shorter Amortization Period - Last week we defined amortization, and how it affects your interest rates. Amortization is a dense topic, and this week there’s a lot more that we would like to cover when it comes to encouraging you to choose a shorter amortization period on your mortgage. Let’s discuss the ways in which a shorter amortization period ...
  • How Does Amortization Impact Interest Rates? - When buying a home, there are several different paths you can explore when considering which type of mortgage, or loan, is best for you. This is a decision that will impact your finances for many years, and so it’s wise to gather as much information as you can before signing on the dotted line. Amidst ...
  • How to Use a Mortgage to Consolidate Debt - Debt is a stark reality that the majority of us face on a daily basis. Credit cards, a line of credit and auto loans are the most common examples of debts with high interest rates. Some of these rates reach a staggering 29%. These obligations will have you running on a treadmill that keeps you ...
  • Why Do I Need a Real Estate Lawyer? - Buying property and/or a home is one of the heftiest decisions, and one of the largest purchases, some people will make over the course of their entire lifetime. During this overwhelming experience, it’s easy for convoluted details to slip through the cracks. Money for fees that don’t need to be paid can get doled out ...
  • Why Do Lenders Require Title Insurance? - When you buy a home, you aren’t just buying bricks, mortar, furniture, appliances and some great new curtains for the parlour. You’re buying all the land, underneath and surrounding your new house as well. In official terms, you are buying the “title” to the entire property, which is commonly referred to as a “deed,” or ...
  • Why Use a Mortgage Broker? - Buying a home can be an exciting experience. Once you decide to take the plunge, “Mortgage” becomes the word of the day, though “Getting a mortgage” isn’t as simple as it sounds. In fact it’s notoriously hard to secure a mortgage you can afford, especially if you’re a first-time buyer. Some people go to their ...
  • The Importance of Property Maintenance - If you’re thinking about selling or refinancing your property, the importance of its maintenance can’t be overstated. Lenders will look at the condition of your house under a microscope, and will even decline an application if the property is deemed “fair.” Why is property maintenance an important key in the deciding factor? On a basic ...
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