Tag: financial

• Simple Answers to 20 Questions About Reverse Mortgages - Questions about reverse mortgages are coming up a lot these days—especially among Canadians close to retirement who are looking to make the most of their home’s equity. With so much talk (and confusion) surrounding how reverse mortgages work, it’s no surprise that the same questions keep popping up. To help bring some clarity, here’s a ...
• Buying A House When You’re Newly Divorced – Yes You Can! - Being newly divorced is emotionally and financially challenging. Once the papers are signed and life starts to settle into the new normal, many people begin to think about their next chapter—including buying a house.  If you’re thinking about your living arrangements, what you’re going to do next, and whether it’s even possible to get a ...
• Should You Use a HELOC to Pay Off Your Mortgage Faster? - If you’re a homeowner, you’ve probably heard people talk about using a HELOC to pay off their mortgage faster. And yes — it can work. But it’s not the kind of strategy you want to jump into without a good understanding of the risks and how it actually plays out in real life. I’ll break ...
• What Every First Home Buyer Should Know About a Mortgage Pre-approval - Getting a mortgage pre-approval should be your very first step when you’re thinking about buying your first home. Buying a home is a big part of the Canadian dream, in fact, about two-thirds of Canadians owned their homes as of the last Census. And for most people, their home ends up being their biggest financial ...
• What Makes a Vacation Home Mortgage Different From a Regular One? - For a lot of people, a vacation home is more than just a weekend getaway—it’s a place to make memories with family, escape the hustle of everyday life, or even settle into retirement. Whether you’re dreaming about cozy summer nights by the lake or looking to invest in a place you can use year-round, there’s ...
• Understanding Your Credit Score and How It Affects Your Mortgage Rate - Buying a home is a big step for most Canadians but, did you know that your credit score plays a huge role in getting approved and the mortgage rate you qualify for? Whether you’re a first time buyer or are renewing your mortgage, being aware of your credit score and keeping it in good standing ...
• Refinance Your Mortgage Now to Make the Most of Lower Interest Rates - If you’re three years into a five-year fixed-term mortgage and interest rates have dropped significantly since you first locked in your rate, you might be wondering if it’s time to refinance your mortgage. Homebuyers today may be paying a much lower rate than you are, so refinancing could be an opportunity to save money in ...
• Consider The Costs of Upsizing Before Making Your Move - Have you been thinking about moving your family into a bigger home but worry about the costs of upsizing? Maybe you’re feeling cramped, need more storage or outdoor space, or you want to make the investment in a bigger home and feel like the time is now.  If you’re thinking about upsizing, it’s important to ...
• Should You Use A HELOC Or Reverse Mortgage To Access Your Home Equity? - A home is often the biggest investment you’ll make, and over time, its value tends to rise, which is why tapping into home equity is a popular lending option. The difference between your home’s current market value and what you still owe on your mortgage is called equity and, as you pay down your mortgage, ...
• Why a Mortgage Broker is a First Home Buyer’s Best Friend - Becoming a first home buyer is exciting, but it also comes with a lot of questions — especially when it comes to securing a mortgage. Many buyers aren’t sure where to begin or how to find the best financing options for their situation. The good news is that a mortgage broker can simplify the process, ...
• The Spring Real Estate Market Is Here, Are You Ready? - The spring real estate market is traditionally the busiest time of year in Canada, and 2025 is expected to be no exception. With lower borrowing costs, pent-up demand, and an increase in listings, experts anticipate an active and competitive season. However, potential economic uncertainty and changing mortgage rules could also influence the market.  Whether you’re ...
• How Downsizing Can Free Up Hidden Home Value - When most people think about downsizing, retirement usually comes to mind—but it’s not just for older adults. Downsizing can be a smart financial move at any stage of life. Maybe you’re a young family looking to free up cash, someone going through a separation or job loss, or just feeling stretched by your housing costs.  ...
• How to Access the Equity in Your Home To Pay For Spring Renovations - If being cooped up all winter has you thinking about some spring renovations, now is the perfect time to refresh your space. Tapping into your home equity can help turn those home improvement plans into reality. After years of paying down your mortgage, you’ve likely built up equity—the difference between your home’s value and what ...
• House vs Condo – Which One is Your Best Investment Option - Trying to decide if the best investment option is a condo or a single-family home? Each option has its own perks and challenges, and the right choice depends on your budget, preferred tenants, and long-term goals. In this guide, I’ll break down the key differences so you can make an informed decision with the advice ...
• 13 Big Mistakes First Home Buyers Make and How to Avoid Them - First home buyers often make common mistakes when it comes to finding their dream home, but you don’t have to let that derail your journey to homeownership. Some buyers jump into house hunting or make offers without fully understanding their financial situation—only to hit roadblocks later. Keep reading to learn about the 12 most common ...
• Why Today’s Lower Interest Rates Make It A Good Time For Real Estate Investments - The Canadian housing market, including real estate investments in residential and commercial properties, is deeply influenced by interest rate trends. With the Bank of Canada cutting its overnight rate to 3% in January— the sixth consecutive reduction — there’s a lot to unpack about how this is impacting real estate investments and the broader market. ...
• A Quick Guide To Mortgage Types in Canada - Mortgages in Canada come in many forms, so understanding mortgage types is key to finding the one that’s right for you. Different mortgages are designed to suit various properties, borrowers, and financial goals. For example, you might end up with a combination like a fixed-rate, high-ratio, open mortgage.  Sound confusing? Don’t worry—that’s why mortgage brokers ...
• Unlock Your Home’s Potential with a Cash-Out Refinance - If you’re a homeowner looking for a way to access extra funds, a cash-out refinance might be just what you need. This option allows you to refinance your mortgage for a larger amount and “cash out” the difference in the form of a lump sum. Whether you’re planning home renovations, paying off high-interest debt, or ...
• Why 2025 is a Good Time to Buy Your First Home - Now that the new year is here, have you decided to make your resolution to buy your first home come true? It seems that 2025 is shaping up to be a great year for home buyers but it’s important to be sure you’re ready for one of the largest purchases of your life. I’ve helped ...
• Questions To Ask Yourself When You’re Thinking About Upsizing Your Home - Dreaming of upsizing to a bigger home? You’re not alone! Whether it’s for a growing family, a home office, or just more room to relax, many homeowners consider upsizing. But before you jump into the house-hunting process, it’s important to plan carefully. Upsizing is an exciting step, but it comes with a few challenges you’ll ...
• Understanding HELOCs and When It’s The Right Time To Use One - Home equity lines of credit (HELOCs) are a popular way for Canadian homeowners to access borrowed funds. And it’s easy to see why: HELOCs typically come with lower interest rates than credit cards or personal loans and offer the flexibility to use the money for just about anything. But what exactly is a HELOC, and ...
• A Private Bridge Mortgage Can Offer a Lifeline When Selling and Buying a Home - Between selling your home and buying a new one, there’s often a gap—and that’s where a private bridge mortgage can be a lifesaver. Let’s face it, managing the sale of your current home while purchasing your next one can feel like walking a tightrope, especially if the closing dates don’t align. It’s even more stressful ...
• The Ultimate Guide to Buying Your Next Home - Thinking about upgrading and buying your next home? One that fits your growing family… It’s an exciting step, but it comes with its own set of challenges. Unlike buying your first home, this time you’ll need to balance selling your current place while finding your next one, which can feel like a lot to handle ...
• How to Tap Into Your Home Equity With A Cash-Out Refinance - Are you a homeowner who’s looking for ways to tap into your home equity and considering a “cash out refinance”? Maybe you need some money for big home renovations or to fund your child’s post secondary education. Or perhaps you want to pay down your high interest credit card debt. A cash-out refinance, or equity ...
• Are You Being Gifted A Down Payment? Rules & Tips You Need to Know… - Being gifted a down payment can really help when you’re buying your first home or upgrading to a bigger place. Homes are so expensive these days, especially in Canada, that coming up with that big down payment can be really tough, especially for first-time buyers. Luckily, a lot of people get help from their parents ...
• Everything You Need To Know About Reverse Mortgages - Reverse mortgages might sound like a puzzling financial product, but for many Canadian seniors, they’re becoming a game-changer in retirement planning. Think of it as unlocking the money that’s been quietly sitting in your home all these years. If you’re an Ontario homeowner who’s been wondering how to boost your retirement income without selling your ...
• Co-ownership May Be The Solution For Young Canadian Home Buyers - If you feel like your dream of owning a home is slipping away, maybe it’s time to think about co-ownership. If you’re a millennial or Gen Z’er, you might be wondering how on earth you’re supposed to buy a house when prices are through the roof, interest rates are sky-high, and you’re barely keeping up ...
• Maximize Your Rental Property Investment By Knowing Your Breakeven Point - Understanding your breakeven point as a landlord is key to making smart decisions about your rental property investment, and for securing a mortgage. Knowing this number helps you assess whether a property is a good investment and gives mortgage lenders confidence in your ability to cover expenses as well. In this article I’ve outlined a ...
• Should You Choose a Fixed or Variable Rate For Your Mortgage Renewal? - Are you one of the many Canadian homeowners who face a mortgage renewal by 2026? Many are wondering what the best options are for their next term. Did you get burned with a variable rate mortgage in your last mortgage term? Or does it seem like the right option with interest rate drops predicted? Both ...
• Is This The Right Time To Refinance Your Mortgage? - Now that interest rates have dropped, is it a good time to look at refinancing your mortgage? If you’ve been keeping an eye on the market, you might be wondering whether to break free from your existing mortgage contract and take advantage of more favourable terms. A mortgage refinance allows you to pay off your ...
• Open, Closed or Convertible Mortgage – Which One Is Right For You? - When you’re buying a house or renewing your current mortgage, you’ll need to decide between an open, closed or convertible mortgage, among other things. There are many options when choosing a mortgage that affect your interest rate including variable and fixed rate options and the length of your mortgage term. All these options are there ...
• Tackling Cottage Renovations with a HELOC Before Moving In - Dreaming of moving to your cottage and turning it into a year-round residence? Maybe you’re getting ready to retire or you have a remote job that lets you work anywhere. Whether it’s a lakeside retreat or a cozy cabin in the woods, moving to your cottage permanently can be a rewarding lifestyle change but there ...
• Is It Time To Go From Renting To Buying? What You Should Know Before Taking The Plunge - Thinking about going from renting to buying a home? You’re not alone. Lots of young Canadians are scratching their heads over this one. Most people think buying is always better, but it’s not that simple. There’s more to it than meets the eye. Right now, mortgage rates are low and house prices are dropping in ...
• Preparing for Mortgage Renewal Amid Life’s Milestones and Challenges - Life is full of changes, and some of these changes can have a significant impact on your financial situation, including your mortgage renewal. Whether you’re dealing with job loss, marriage, divorce, retirement, or the death of a partner, these life events can influence your ability to renew your mortgage and may require you to adapt ...
• A Step-By-Step Guide to Homeownership For First Home Buyers - As first home buyers, sometimes you feel like you need a guide to lead you through the jungle of mortgage financing and paperwork. With so many steps involved, the process can feel overwhelming. From securing the mortgage you need to finalizing the purchase, each stage comes with its own set of challenges and decisions. By ...
• The Challenge Of A Mortgage Renewal When You’re Self-Employed - Understanding the world of mortgages can be challenging for anyone, but for the self-employed, it often comes with added layers of complexity when it’s time to renew. While being your own boss offers freedom and flexibility, it also means that certain financial processes—like securing and renewing a mortgage—can be more difficult.  Unlike traditionally employed individuals ...
• Taking The Mystery Out Of Mortgage Terminology for First-Time Homebuyers - If you’re a first-time homebuyer in Ontario, the mortgage terminology can seem like a maze of confusing words and numbers. However, understanding these concepts is crucial to making informed decisions about one of the biggest financial commitments you’ll ever make. Let’s break down the basics—mortgage rates, terms, and amortization periods—and see how they impact your ...
• Being Aware Of Your Mortgage Renewal Timeline Can Save You Money - Owning a home comes with its share of financial responsibilities, and staying on top of your mortgage renewal timeline is one of the most important. Many homeowners are caught off guard when their renewal date approaches, potentially missing chances to save money or improve their terms. However, by understanding and managing your mortgage renewal timelines ...
• Home Buying Mistakes That First-Time Buyers Make And How To Avoid Them - Starting out on the journey to homeownership is an exciting milestone, but it’s not without its challenges. Many first-time buyers fall into common traps that can turn their dreams into a financial nightmare. Learning what these pitfalls are so that you can avoid them is essential for a smooth home buying experience.  Not Having An ...
• Mortgage Renewals – How To Avoid Penalties & Hidden Fees - You’re sipping your morning coffee, feeling good about your decision to renew your mortgage with a new lender, when suddenly it hits you — there might be renewal penalties. Many Ontario homeowners get caught off guard by the fees and penalties that can lurk in the fine print of mortgage renewals. But don’t worry – ...
• Preparing For Closing Costs When You’re Buying a Home in Ontario - Purchasing a home is an exciting milestone, but it’s important to budget for closing costs as well as the down payment and mortgage. In Ontario, buyers face various closing costs that can add up to thousands of dollars.  Many people looking to buy a home don’t know about these extra costs or how to figure ...
• Your Financial Checklist To Get Your Wallet Ready For Your Mortgage Renewal - Mortgage renewal time sneaking up on you? Don’t leave money on the table. Before you simply sign on the dotted line with your current lender, it’s important to take a good look at your financial health. Is your current lender the best option or can you get a better rate from someone else? Do you ...
• Tips For First-Time Buyers To Boost Their Credit Score For A Better Mortgage Rate - As a first-time home buyer, your credit score plays a crucial role in determining the mortgage rates and terms you’ll be offered. A higher credit score can lead to significant savings over the life of your loan. As a first-time buyer, I know how overwhelming securing a mortgage can be and I’m here to simplify ...
• Hidden Factors You Need To Consider When Comparing Mortgage Rates - So, you’ve been comparing mortgage rates online. You might have spotted some really low interest rates and thought, “Wow, that’s a great deal!” But hold on a second – are you sure you’re comparing apples to apples? There are tons of different mortgages out there, and it’s super important to understand how they’re different from ...
• Financial Support That Can Take You From Renter to Homeowner - Saving money for a down payment is the biggest hurdle every first-time home buyer faces. Not only are house prices in Ontario high, there is low inventory and tough competition. So having your down payment ready and waiting when that dream home hits the market is essential. But how do you save up that all-important ...
• Why Renewing Your Mortgage The Easy Way May Not Be The Smartest Way - You’ve received your mortgage renewal notice from your bank or lender, and the rate is higher than you’d prefer. While simply signing and returning the document is the easiest option when it comes to renewing your mortgage, it might not be the best one. You need to stop and ask yourself “Are you potentially overlooking ...
• Understanding The Mortgage Pre-Approval Process - Did you know that one of the biggest mistakes homebuyers make is looking at rates or making offers without first securing a mortgage pre-approval? This step is essential for understanding how much you can qualify for when it comes to a mortgage and ensures a smooth home buying experience, yet it is often overlooked. If ...
• How To Negotiate The Best Rate On Your Mortgage Renewal - Renewing your mortgage involves important financial decisions that can have a significant impact on your overall financial health. As your mortgage renewal date approaches, it’s essential to prepare and strategize to secure the best possible terms and conditions. But where do you start and how do you best negotiate with your lender for what you ...
• Inheriting a Property With Your Sibs, What Are Your Options? - When you inherit a house or property, especially if you inherit one with siblings, dealing with these assets is often not the first thing on your mind after losing someone close to you. But, unfortunately, finances come into question almost immediately, including wills, taxes, and funeral expenses. There are also many complex legal and financial ...
• What Every First-Time Home Buyer In Ontario Needs To Know - For first-time home buyers, entering the Ontario housing market can feel like diving into deep uncharted waters not meant to be explored with soaring average prices topping $800,000. But, with the right approach, you can land your dream home. Buying your first home is not out of reach. It’s all about being mentally prepared, financially ...
• Understanding Mortgage Renewals, What You Need To Know - Did you receive a mortgage renewal notice from your bank and are wondering what that means? When you bought your home, you signed up for a 5-year mortgage term and that’s coming to a close. If you still owe money on your mortgage, it’s time to renew your mortgage term. But things have changed in ...
• Switching Your Mortgage Lender: What You Need To Know - Switching lenders used to be an expensive and complicated option when you refinanced or renewed your mortgage. If you are approaching your mortgage renewal, it may seem convenient to stick with your current lender. However, this could be the perfect time to explore improved mortgage rates and loan terms with a different provider. Recent regulatory ...
• Mortgage Renewal: What To Know And How To Save On Your Mortgage’s Next Term - Unless you can pay off your mortgage at the end of your term, you will be facing a mortgage renewal. This is your chance to take a closer look at your home loan and make some important decisions. Whether it’s about how often you pay, which lender you prefer, or whether you opt for a ...
• Interest Rates And Your Mortgage: How They Go Hand-in-Hand - There’s a lot of buzz around surging interest rates, fluctuating inflation trends, and whispers of impending recession. These things can affect your mortgage, but understanding how isn’t always straightforward. We know that interest rates play a big role in setting mortgage rates. But it’s not just a simple connection. Fixed-rate mortgages, for example, are linked ...
• Helping Your Child’s Home Buying Dreams Become a Reality - Helping your child buy a home has become a viable option for many Canadians whose millennial children find the dream of home ownership slipping out of reach. According to a 2022 report from the Ontario Securities Commission (OSC) on Millennials and the Markets, only 33% of millennials currently own homes, despite 56% considering home ownership ...
• Mortgage Refinancing: When Does It Make Sense? - Have you been trying to figure out how you can manage that large expense or high interest debt and are considering financing alternatives? Refinancing your mortgage might be the answer. But before you start browsing for different mortgage options and comparing rates, it’s important to understand what’s involved when you refinance your mortgage. Firstly, you ...
• High Mortgage Rates & How To Avoid A Cash Flow Crunch - Are thoughts of higher mortgage rates keeping you awake at night? As your fixed-rate mortgage approaches its renewal date amid persistently high interest rates, the prospect of an increased monthly payment being withdrawn from your bank account can be scary. The uncertainty of how you will maintain your current lifestyle while managing a larger mortgage ...
• Mortgage Renewal Denied? These Are Your Next Steps… - Your mortgage renewal is coming up and you knew that you would be paying a higher interest rate. But, what you weren’t expecting was that your bank would turn you down for your mortgage renewal. Unfortunately, this is more common than you might think, with higher interest rates and debt-to-income ratios making many homeowners ineligible ...
• A Home Equity Mortgage: Is It The Right Choice For You? - A home equity mortgage can be a lifeline if you suddenly face unexpected expenses, leaving you in need of quick cash. While many Canadians rely on their savings accounts, sometimes the funds may fall short. In these situations, turning to loans becomes a common choice. However, as a homeowner, there are additional avenues to explore ...
• Is An Alternative Mortgage Lender The Right Solution For You? - You’ve heard a lot about alternative mortgage lenders and wondered if this is the solution to your home buying woes. If you’re struggling to secure a mortgage for your dream home, you’re not alone. Many prospective homeowners face obstacles when dealing with traditional lenders and their strict requirements. If you have an unconventional income source ...
• Mortgage Amortization – What You Need to Know - Choosing the right amortization period is crucial when selecting the ideal mortgage. While many focus on the mortgage term due to its impact on interest rates, the amortization period plays a significant role too. Despite its longer duration, it’s a vital aspect to ponder whether you’re purchasing your first home, second home, or are renewing ...
• What Interest Rate Hikes Mean For Your Mortgage Renewal - When interest rates are low, renewing your mortgage can be a breeze. However, with today’s higher interest rates, what was once a simple process can suddenly feel daunting. Unfortunately, for homeowners across Canada, this is becoming an increasingly familiar scenario. Since 2020, Canadian interest rates have been steadily inching upwards, signalling impending mortgage rate hikes ...
• How To Boost Your Credit Score In 4 Simple Steps - Why is your credit score important? If you want to get a mortgage, buy a car, take that vacation of a lifetime, or even rent an apartment, you will need a good credit score. This is the first thing that lenders and landlords will check to decide if they will take a risk on you. ...
• What You Need To Know Before Buying Your First Home - So, you’ve decided to take that first big step into adulting and buy your first home. It’s a very exciting time but a little bit scary as well. Luckily, there are expert advisors and government programs that can make your first steps successful in the tough Ontario real estate market. As always, it’s best to ...
• Mortgage Refinancing — A Complete Guide Without The Mystery - Ever wondered about the ins and outs of mortgage refinancing? Simply put, it’s like hitting the reset button on your home loan. You break free from your current mortgage, settle the bill, and jump into a new loan with its own terms and a fresh interest rate. Timing and careful consideration are key to making ...
• Is 2024 the Right Year to Refinance Your Mortgage? - Are you noticing a dip in interest rates across Ontario and wondering whether it’s the right time to refinance your mortgage? If you’ve been hesitating on the sidelines, now might be the perfect time to make a move. Mortgage refinancing opens the door to renegotiating your mortgage terms before your current term ends. Why consider ...
• Demystifying Canadian Mortgage Rates and Terms - Mortgage rates are a hot topic for everyone these days – even if they’re not looking for a home loan. Will rates go up? Will they go down? What will happen to the housing marketing in Canada? But, have you ever wondered how the interest rates on your home loan are decided? Well, it’s kind ...
• A Mortgage Co-Signer or Guarantor…Which Do You Need? - Buying a house in Canada can be tough for first-time buyers. It’s not just about saving money for a down payment – you also need a mortgage to afford a home because of high prices and extra costs. Traditional mortgage loans are harder to get, so some people might need to look for different strategies ...
• Your Guide To Eliminating Credit Card Debt - Having a credit card in today’s world seems inevitable when so many services and sales are often only available to a card holder online. Used responsibly, credit cards can be a beneficial financial tool. But while credit cards can offer rewards and cash back on everyday purchases, taking advantage of these perks hinges on your ...
• Mortgage Application Rejected? 5 Reasons Why And How To Fix Them - Let’s face it – the sting of rejection is never pleasant, especially when it comes to something as significant as your mortgage. While the majority of mortgage applications receive a green light, occasional roadblocks can emerge, leading to the discouraging news of a denial by a lender in relation to your mortgage. Whether you’re just ...
• Why The Holidays Are The Perfect Time To Buy A Home - The countdown to the holidays is on and everyone is in a retail frenzy. Is a home the number 1 item on your wish list this year? Buying a home over the holidays may not be such a bad plan. Surprisingly, this is one of the best times of the year to get into your ...
• The Pros And Cons of A 30-Year Mortgage - Unlocking the door to homeownership often involves navigating a maze of mortgage options. In the Canadian real estate landscape, where housing prices seem to defy gravity, considering a 30-year mortgage might just be the key to making your dream home a reality. While the more traditional 25-year mortgages remain the go-to choice for many Canadians, ...
• Beyond Your Mortgage: The True Costs of Condo Ownership - So, you’ve decided it’s time to step beyond renting and purchase a condo of your own. As you plan your home-buying journey, it’s not just about the mortgage, there are other costs that come with owning a condo. Let’s dive into the other expenses you need to know, so you can budget wisely and enjoy ...
• Dreaming About A Vacation Property For Your Retirement? A Reverse Mortgage Can Help - Embarking on the golden years of retirement often comes with dreams of basking in leisure, and for many older individuals, that dream involves escaping to a vacation home. However, turning that dream into reality can pose a financial challenge, especially when savings are limited or tied up in your primary residence. The key to unlocking ...
• How Investing In An FHSA Today Can Save You Big Money In The Future - Buying a home is a classic life milestone, right? The one that shouts, “I’m officially adulting!” But here’s the rub: with house and condo prices skyrocketing, it’s got a lot of hopeful first-time home buyers wondering if they’ll ever catch a break. According to Statistics Canada, homeownership rates for those aged 30 to 39 have ...
• Why Working With A Mortgage Broker Is Crucial In Today’s Market - When it comes to hunting for the right mortgage, most people usually make a beeline for their local bank. It’s what we’ve always done, right? You sit down with a bank rep who knows all about mortgages, and they lay out your options. But guess what? Just because it’s the usual way doesn’t mean it’s ...
• Creating a Financial Plan For Your Golden Years - Retirement. It’s a dream many of us hold onto while we’re working hard to make a living. Does yours include worry-free days, traveling the world, or spending time with your family and friends? These are all wonderful goals but, if you don’t have an investment plan in place, that daydreamy bubble could burst. Crafting a ...
• Understanding The Difference Between Amortization And Your Mortgage Term - When you’re looking for a new mortgage, or renewing your existing mortgage, sometimes all the different dates and numbers can get a bit confusing – not to mention the wording and contractual obligations. Before you sign on the dotted line, and end up getting yourself locked into something you’re not happy with, let’s look at ...
• Pros & Cons Of The First Time Home Buyers Incentive - Are you dreaming of owning your first home but are struggling to gather that hefty down payment? Well, your dream might be closer than you think, thanks to the First-Time Home Buyer Incentive, or FTHBI. This innovative program offers a helping hand by allowing you to borrow 5% or even 10% of your prospective home’s ...
• What You Need To Know Before Renewing Your Mortgage - When you signed your mortgage contract and got the keys to your new home, thoughts of renewal were a long way off. But now, the time is fast approaching where you’ll have to make some big decisions – should you stay with your existing lender or look for someone new? Whichever you choose, it’s important ...
• Rent vs. Own: Is Now The Right Time To Buy Your First Home? - There was a time when buying your first home and securing your first mortgage was an integral part of the Canadian dream. Fast forward to today, and it’s evident that this dream has undergone a profound transformation. With prices soaring to new heights and housing markets experiencing unprecedented growth, the path to homeownership has become ...
• What To Do When You’re Unhappy with Your Mortgage. - Are you starting to feel like your mortgage may not be the right one for you? Is it time to refinance? Maybe you’ve been plugging away at it for years, and it doesn’t feel like you’re making any headway in terms of paying it off. Maybe you want to find a way to make the ...
• When It Comes To Real Estate Should You Buy First? Or, Sell First? - So, you’ve made the big decision to sell your home, secure a new mortgage, and move into a new home in your dream neighbourhood. It’s an exciting time but can also be stressful. A common question I get asked is whether it makes more sense to buy a home first or sell the one you’re ...
• Dollars and Sense: A Practical Guide to Saving For Your Down Payment - You’ve been dreaming of that perfect home, the one you and your partner have longed for. You’ve been working hard to save up a down payment for the mortgage but every month, it seems that your savings go down and the cost of getting into the market goes up. Just saving for a down payment ...
• What To Do When You’re Feeling The Weight Of Your Mortgage - When you secured your mortgage, you were so excited to find and move into your dream home. Everything was looking rosy and then mortgage interest rates started going up – and up. A variable-rate mortgage seemed like the best option at the time but now you’re worried. The past year witnessed a series of seven ...
• Exploring Cottage Insurance for Your Home Away from Home - In the wake of the COVID-19 lockdown, the demand for cottages has skyrocketed, causing recreational property prices to reach new heights. While many were purchased by city dwellers looking for a weekend escape or as a work-from-home solution, others were bought as a lucrative recreational property investment, largely for vacation home rental. Whether you embrace ...
• From Blueprint to Reality: What You Need to Know About Mortgages & Building Your Dream Home - When searching for a new home, you’ll find one that suits your space and location needs, but does it truly fulfill your dreams? Probably not. That’s where the allure of building a custom home comes in. With a custom home, you have the freedom to design a space that reflects your unique style without having ...
• Is An Income Property A Good Investment? - Maybe you’ve come into an inheritance or received a substantial bonus at work. Or perhaps you’re looking for a way to invest your money that is lower risk and provides you with a retirement income. Either way, investing in a rental, or income property could be a good investment for your future. Although there are ...
• Can You Reverse A Reverse Mortgage? - If you’re nearing retirement you’ve likely heard of a reverse mortgage. But, understanding what it is and if it’s the right financial solution for you at this point in time — that’s tricky! A reverse mortgage is a financial product that allows Canadian homeowners, including those in Ontario, who are typically 55 years of age ...
• Demystifying Mortgage Interest: Understanding How it Impacts Your Home Financing - I’m often asked about mortgage interest and how it impacts a home buyer over the length of their amortization period. The short answer is: Mortgage interest in Ontario refers to the cost you pay to borrow money from a lender to purchase a home. When you take out a mortgage loan, the lender charges you ...
• Mastering Debt, Saving Your Down Payment and Enjoying a Budget-Friendly Summer - Now that the long, cold winter is finally behind us, it can be tempting to forget about our carefully crafted budgets and indulge in the pleasant weather. However, it’s essential to remember that our financial plans remain just as relevant during the summer months, even though sticking to them may feel more challenging. Fortunately, there ...
• Is A Chip Reverse Mortgage The Right Solution For You? - A term that seems to be tossed around a little more lately for those over the age of 55 is CHIP Reverse Mortgage and more and more I have clients asking if it’s a smart tool for them to use. But, before we get too far ahead of ourselves you should know that it’s a ...
• Affordable Financing Options To Make Your Dream Home Renovations Reality - Are you a homeowner looking to turn your renovation dreams into reality but lacking the necessary funds? Don’t worry! There are many financing options you can look at as a homeowner! With the right home renovation loan and guidance providing you with valuable insights and strategies throughout the process, you’ll have the funds for your ...
• Ontario’s New Home Buyer Programs: A Guide for First-Time Buyers - Embarking on the journey to homeownership is an exciting and fulfilling experience. For first-time home buyers in Ontario, there are several government programs available to help turn this dream into a reality. In this article, we will delve into the latest initiatives introduced by the Ontario government, explore the benefits of utilizing a mortgage broker, ...
• Closing Costs Rundown – Everything You Need To Know - Buying a home isn’t as simple as submitting a down payment, signing some papers, and being on your merry way. There are many extra fees that don’t normally come straight to your mind after signing off on your mortgage. Closing costs refer to the fees and expenses associated with the purchase or sale of a ...
• Navigating The Spring Housing Market Like A Pro -   The spring market is in full force! Are you prepared as a first-time home buyer or someone looking to buy their second, third, or fourth home? The spring market is here and we’re speeding ahead into summer which means now is the time to get pre-approved for the mortgage you need.  There are several ...
• Getting The Best Rate When Renewing Your Mortgage - Did you know? 88% of mortgage holders renew with their existing lender. But what if I told you that you may get a better rate when renewing your mortgage with a different lender? At the end of the day, it all comes down to money. Getting a lower interest rate means you will be paying ...
• Breaking The Homebuying Barrier: The Bridge Loan Solution - You’ve discovered your dream home in Barrie and are eager to put the “SOLD” sign up before it disappears from the market. However, there’s a small obstacle: your current house hasn’t sold yet. Or you intend to undertake significant renovations on your new home and want to avoid the hectic mess before moving in. Regardless ...
• Qualifying For A Mortgage As A Single Individual - Qualifying for a mortgage can be a daunting task for anyone, but it can be particularly challenging for single individuals. Without the added financial support of a partner’s income, it can be challenging to meet the income requirements set by lenders to officially become a homeowner in today’s real estate market. However, being single doesn’t ...
• The Good & The Bad of Reverse Mortgages - When thinking about a mortgage, most people just think about the traditional uses for a mortgage, speaking with a mortgage broker to secure it and paying off that mortgage with interest added to it. However, there are so many options to explore when it comes to your mortgage. As a mortgage broker, it’s my job ...
• The Ultimate Guide For Saving Your Mortgage Down Payment - Are you prepared to purchase a home? The down payment is a significant upfront cost when buying a house, and the more you allocate towards it, the lower your fees and interest payments will be over the lifetime of your mortgage. Do you have enough funds saved to secure the mortgage you require? What is ...
• How Credit Scores and Mortgages Work - Getting approved for a mortgage involves being prepared with several things, including having a down payment saved, completing your mortgage application, and collecting all the supporting documents like your ID, employment history, annual income, and other items required by the lender. But aside from all the paperwork, there is one major factor that affects your ...
• What You Need To Know About The New Tax-Free Home Savings Account - If you’re looking to buy your first home in the coming years, I have great news for you! The federal government released its 2022 federal budget and having more affordable housing was high on its agenda. And, drum roll, please…They announced a brand new tax-free savings account for first-time home buyers to help them save ...
• “My mortgage is up for renewal and the rates are higher than I’d like. What should I do?” - Is your mortgage up for renewal? Should you let it automatically renew? Change your lender? Try and tweak your mortgage terms. Before you dive into making that decision, let’s think about it for a moment. Mortgage rates are high right now, so having a financial game plan could save you thousands of dollars on your ...
• Should you buy a home now or wait for interest rates to drop? - Buying a home can be a bit of a gamble but, it’s also one of the best investments you’ll make in your life assuming you do your homework. Maybe you buy a home and find out all the wiring has big problems so you have to hire an electrician to come in to completely redo ...
• Can Renos Offset Falling Home Prices? - We all love a good ol’ home renovation show or a DIY project we come across. But when you’re serious about renovating your home, there are many things to think about. Will the decor choices I make stay in style? Will renovations help your home sell in the future? Can you afford it? Renovations to ...
• Mortgage Amortization – Should You Go Long Or Short? - Wouldn’t it be nice to not have a need for a mortgage? Unless you’re selling your home and downsizing and moving to a lower-cost area, this reality may not be possible. So, if that’s the case, and you DO need a mortgage, the question you might have is “Should you go for a longer mortgage ...
• What Is An Equity Take-Out Mortgage? - If you’re like many Canadian homeowners at the moment, you’re likely looking for different ways to increase your monthly cash flow and how to pay down your debts. Maybe you want to finish paying off your existing mortgage, you want to move into a larger home, or you just want to feel a little more ...
• Investing in a Tontine To Pay For A House - There are many non-traditional ways to save money for a house other than budgeting, using government funding or inheritance money. Have you considered using a tontine to help pay for a new home? Working with a reputable financial advisor is the best way to invest your money if you are thinking of exploring tontine options. ...
• What Is An Alternative Mortgage Lender? - When you’ve decided to buy a new home, whether you’re making the transition from being a renter to becoming a homeowner or you’re leaping into home ownership moving out from under your parent’s roof… The most important part of the process isn’t finding the right house to buy… It’s securing the financing you need to ...
• How To Use Your RRSPs To Save For Your Down Payment - A 20% down payment on a million-dollar home seems like a lot, right? Not many of us have $200,000 in our pockets ready to hand over. However, there are many ways to save up for a down payment of that amount, including contributing regularly to a tax-free savings account (TFSA), looking into the equity of ...
• Should You Refinance Your Mortgage Or Keep Your Sub-2% Mortgage Rate? - By now, I’m sure you’ve heard that interest rates have increased all around, whether it’s on your mortgage or other existing loans But, I want to assure you, now is not the time to stress; there are many options available to you when it comes to your mortgage. As an experienced mortgage broker and financial ...
• How To Finance Home Renovations That Give A Good Return On The Investment - Staring at that old kitchen counter from the 1990s that you wish you could change? Or wishing your basement could be turned into the entertainment center it deserves? Your dreams of home renovations may not be as far out of reach as you think. Having a mortgage is like holding an investment account. Your home ...
• How The International Home Buying Restrictions Are Helping Canadians Buy Homes - Purchasing a home in Canada has become increasingly difficult with changing mortgage rules, the tightening of the stress test, and the impact of inflation over the last few years. In months past we have seen incredible competition for homes and bidding wars were commonplace which drove prices up. However, with all the changes made to ...
• What You Need To Know About Buying A House In 2023 - The past few years have been crazy in the world of real estate. Now that we’re approaching the spring market of 2023, and everything is back to normal since the COVID-19 pandemic, you will notice a slight change in market conditions. If you’re looking to buy a home in 2023, use this as your guide ...
• How To Get Pre-Approved For A Mortgage When Buying A Family Home - If you’ve stumbled across this article, it must mean you are thinking about buying a new home for your family. Whether it’s your first home or tenth, it can be an overwhelming time for you. But I’m here to answer any of your questions that you may have as well as to help you overcome ...
• New Year’s Resolutions For First-Time Home Buyers - Welcome, 2023! If buying a home is on your new year’s resolution list, then we have a lot of work to do! But I’m here to help simplify the process before you start house-hunting. Sure, scrolling on MLS for your “dream home” makes it all that more exciting, but there are some steps you must ...
• There Are Pros & Cons To Selling a House in the Winter - Happy winter! If you’ve lived in Barrie for at least one cold season, you know that we’re used to snow days, keeping an extra shovel handy, and trucking through deep snow on our coffee run. Sure, you can think about your toes freezing, but what about the beauty of the first large snowfall? The quiet ...
• Is Buying A House In The Winter a Good or Bad Idea? - When you imagine buying your first home, or packing up all your belongings in your current house and moving to a new property, I’m sure your “perfect move” doesn’t involve cold, blowing, heavy snow. In the spring, houses in your neighbourhood with a “for sale” will start popping up like weeds. Moving in the winter ...
• How Buyer And Seller Markets Impact Your Mortgage - You most likely have heard people talking about the real estate market lately, asking whether you’re in a seller’s or buyer’s market. Predicting what will happen in the new year in real estate is tricky. The average home price in Barrie in November 2022 was $721,000, as opposed to $760,000 a month ago. Compared to ...
• How To Fund Your Retirement Using Your Home - First off, I just wanted to say congratulations that you’re thinking about or looking into retiring. Retirement is a huge milestone, and I want to ensure the stress of your finances isn’t taking away from your excitement that you’ll have more time in the day to do whatever you would like without pesky work getting ...
• The Blog To Read Before Flipping A House - If you’re like me, home renovation shows get me hooked. Except, they make it look pretty easy when you see professionals with a huge budget being able to flip a rundown shack into a gorgeous tiny home. If you’re up for the challenge of buying a property and flipping it for a profit, you’re in ...
• Things To Consider When Buying Foreign Property - With the colder months fast approaching, we’re already dreaming of sunny beaches, mountain excursions, and sipping on drinks in a hot tub. Sure, you can book a vacation, but if you go down multiple times a year with the entire family, those costs can add up. Have you thought about buying foreign property to spend ...
• 5 Ways To Avoid Mortgage Financing Hiccups - It’s tempting to splurge now and then with a late-night restaurant visit, tickets to your favourite game, or some new home decor pieces. However, these “splurges” can creep up on your wallet. Sure, we can’t be perfect with our spending habits, but it’s important to stay on track with your budget when it comes to ...
• Are You Ready To Be A First-Time Home Buyer? Ask Yourself These 6 Questions First. - Are you thinking about buying your first home? How exciting! Before you choose your paint colours and home decor, ask yourself these 6 questions to see if you can buy now, or if you should wait a little longer. Learning the process of becoming a homeowner will make you less stressed about this huge financial ...
• How Do Mortgage Calculators Actually Work? - Let’s Debunk The Confusion Around Mortgage Calculators Mortgage calculators are a wonderful tool to use whether you are looking to buy your first home or looking to upgrade or down-size your home. These tools are great starting point to see what you can afford and to get an idea of how much your mortgage would ...
• Mortgage Incentives Healthcare Workers Need To Know About - Barrie and the surrounding area is a truly wonderful places to live. Only an hour and a bit from Toronto, it offers you everything including stunning waterfront adventures and the best skiing and snowboarding in the area. Whether you’re moving up north for a job, a vacation home, or because you want to start a ...
• How Mortgage Brokers Save You Money - “I will help you secure the lowest mortgage rate,” “Get pre-approved before you start your house hunt,” “It IS possible for you to afford a home!” These are all statements you must have stumbled upon when looking into the big scary world of mortgages as a first-time home buyer. Don’t let mortgage unknowns scare you ...
• What Do Higher Interest Rates Mean To You? - Interest rates are on the rise, and I want to make sure you’re prepared to know what this means for your mortgage. We all want the lowest rate possible to have extra money to spend on food, entertainment, or a vacation. But, when it comes to interest rates and mortgages why bother spending extra money ...
• How Do You Save A Down Payment? You Make A Plan! - Searching for a new home is the exciting part of your house hunt. Scrolling on the internet, judging each house one by one until you find one that immediately catches your eye and you just know that THIS is the one you must see. You visit the home and instantly fall in love. You could ...
• The Pros & Cons of Owning Multiple Investment Properties - Think it’s hard managing one property? What about several? With the right tools and plan in place owning multiple investment properties you rent out, turning into an Airbnb, or flipping to sell can be a smart strategy. Regardless, it’s always a gamble when buying a property. The real estate market can fluctuate, or the property ...
• Tips For Paying For Your Home’s Summer Renovations - Whether you’re paying for a new roof, backyard revamps, or a kitchen upgrade, it can be overwhelming trying to figure out how to pay for this large expense. Having a new shed, deck, or fence will not only make your backyard look amazing, but will also increase your home’s value. As a financial advisor, I ...
• 8 Secrets To Paying Off Your Mortgage Faster - Wouldn’t it be nice to know that you don’t have to pay your mortgage anymore?! You could save all that money and put it towards your retirement or that vacation you’ve been dreaming of. It’s easy to let money stress you out and get you down. However, if you invest some time and effort, you ...
• Is This The Right Time To Refinance My Mortgage? - There are many benefits to refinancing your mortgage. However, it’s important to weigh the pros and cons to ensure it’s the right time for you to do so. With inflation and mortgage rates rising, be sure to look at your existing contract and assess whether or not refinancing will cost you or save you money ...
• How The Government Is Helping First-Time Home Buyers - For first-time home buyers, it may feel like there are always new obstacles in the way of buying your dream home. But, don’t sweat! There are many options available to help you purchase your first home. The government has many FTHB (first-time home buyer) initiatives to help you get the ball rolling in this tough ...
• Why Is Most Of My Mortgage Payment Going To Interest? - Another paycheque is coming out of your bank account and going straight to your mortgage. It feels like a neverending story — year after year of paying your mortgage so you can have a roof over your head. “Has it been 25 years yet?”, you question yourself. Hate to break it to you but you ...
• The Mortgage Stress Test & How To Pass It In 2022 - No one likes to hear the word “test”. But don’t sweat, this is a test you don’t have to study for. A mortgage stress test isn’t exactly what it seems. Sure, it can still send chills up your spine and you may lose some sleep wondering if you’ll pass, but with an experienced mortgage broker ...
• How Can LGBTQ2+ Couples Find A Mortgage? - Happy Pride Month! This month is all about showing your true colours and celebrating your unique identity with “pride!” Finding a home to live in, no matter who you are, can be challenging in this competitive market, especially as a first-time home buyer. Your sexual orientation shouldn’t affect your chances of finding your dream home ...
• What You Probably Don’t Know About Renewing Your Mortgage - Breakups can be tough… but breaking up with your mortgage doesn’t have to be. What if I told you that you don’t have to renew your mortgage with the same lender as before? It’s nothing personal…it’s just that another lender is stealing your heart with lower mortgage rates and better offers. Forget the dating apps ...
• Which Is Better – a HELOC or a Reverse Mortgage? - Sometimes, life can throw you a curveball and you find yourself in need of an infusion of cash. This could be because of illness, unemployment or a sudden need for repair or replacement of a big-ticket item. You may not have long-term savings to dip into, especially if your priority has been paying your mortgage, ...
• Are You A Credit Risk? How You Can Still Get A Mortgage - We’ve all been there. That moment when we stare at the debt on our credit card statement and think, “How am I ever going to afford a house of my own?”. Your credit score may not be in the best shape due to your car breaking down, having to replace a big-ticket item, getting laid ...
• What You Need To Qualify For A Mortgage On An Investment Property - Have you decided to purchase an additional property as an investment? Do you have the capital or are you looking for a mortgage? If this is your first journey into the real estate investment world, working with a mortgage broker is your best bet to help you get started in this potentially lucrative world. These ...
• What Is A Vendor Take-Back Mortgage? - In today’s volatile real estate market, it may seem impossible for you to afford a house. But let me enlighten you… there are MANY options available when it comes to types of mortgages, loans, and government initiatives to make it easier to become a homeowner. A vendor take-back mortgage may be the best option for ...
• What It’s Like To Be A First-Time Homebuyer in Ontario - You know that feeling when you’re on a roller coaster? It’s scary yet totally thrilling at the same time. Becoming a first-time homebuyer is a bit like that – exciting yet scary! You’re taking the next big leap in your adulthood and officially becoming a homeowner for the first time. But you’re also making the ...
• You’ve Decided to Sell. Now what? - You finally decided that it’s time to sell so you can move up into your dream home, and there are showings booked already! Now, I know this can be stressful, allowing random potential homebuyers into your house and letting them roam around your property while you pack up the family and leave. However, with the ...
• Bracing Yourself For The Spring Real Estate Market - The grass is greener, the flowers are popping up, the sunshine is beaming down on your back deck, and the birds are happily chirping away. It’s finally Spring! No more snow to shovel, just raking, gardening, and grass cutting ahead. However, if you plan on selling your home, you may want to add a few ...
• Tips & Advice For Opening The Cottage - It’s that special time of the year – the first weekend in the new year where you pack up your car, grab the best snacks, and head up to open the cottage! The kids are in the back, kicking the front seat with joy. You’re also excited but, in the back of your mind, you ...
• How to Prepare to Buy a Cottage - It’s that time of year when cottage life is calling your name. You’re itching to go up north, enjoy the outdoors, and escape your responsibilities at home. Sure, renting an Airbnb is nice, but owning your very own cottage is even more exciting! You have free reign to make it your very own home-away-from-home to ...
• Everything You Should Know About Mortgage Rates - We all want the lowest rate possible on our mortgage, right?! It would be nice to have extra money to spend on food, clothing, your brand new truck, and so on. You may feel like most of your income is coming in one door, and immediately heading out the other. However, there are many options ...
• Before You Build Your Own Home? You Should Know… - We all dream about that perfect home and what it would be like to live in it. Some may think it’s a castle in the countryside overlooking open land, while others may think it’s a small home in the city built from storage containers with a very modern spin. Whatever your “dream home” is, it’s ...
• Getting Divorced? These Are Your Options When It Comes To Your Mortgage - Going through a divorce is something that you don’t expect to deal with in life, it just happens. Not only are you dealing with emotional stress, but you have to add financial stress into the equation. Separating all your finances, assets, bills, and credit cards from one another can be a headache and a half. ...
• Is Buying a House with a Group of People a Good Idea? - These days, It can be very overwhelming just thinking about buying a new home with the high housing costs in today’s real estate market. Many people feel like owning a home is out of reach. Because of this, some people are looking for alternative ways to get pre-approved for a mortgage, including buying a house ...
• The Responsibilities of Becoming a Mortgage Co-Signer - Agreeing to become the co-signer of a mortgage for a home you, yourself won’t live in, is a big step. It’s important to trust the person you’re supporting 100%, and you should be aware of the requirements, responsibilities, and risks that come with being a co-signer before signing on that dotted line. Talk to your ...
• The Rules of Gifting a Down Payment in Canada - It’s becoming more and more common for parents to help out their children who are buying their first house by gifting them a large amount of money to use for their down payment. According to Mortgage Professionals Canada, down payment gifts from parents have doubled since 2000-2016 from 7% to 15%. With house prices getting ...
• Things To Consider BEFORE Buying A Vacation Property - These cold winter months in Barrie have us all dreaming about warmer weather on the beach. Wouldn’t it be nice to have your own place in a vacation paradise? We all want that excitement of hopping on a plane or planning a road trip to spend the winter months somewhere warm. Whether you are looking ...
• 2021: The Year In Review - Phew, 2021 has come and gone. I have happy thoughts reflecting on the good that came in the past year, and I have excited thoughts leading into 2022 as well. The pandemic has still been up in the air this past year, but we were able to adapt and shift our ways of living to ...
• New Year; New Home! - Do your 2022 new year resolutions include moving and buying a home this year? Start your new year’s resolution ASAP. The housing market is still hot and interest rates are still at record lows. But, who knows if it will stay that way. Last year, homeowners saw around a 30% equity increase from 2020 to ...
• 9 Questions To Ask Yourself When Preparing For A Mortgage - So, you are ready to take the next step in life and are officially “adulting” by saving up for a mortgage! That’s awesome. Before diving deep into searching for your “dream house” which is a mansion on a private island, take a step back and look to see what you need to prepare for a ...
• What Is A Private Mortgage? - The real estate world is a fast-moving industry where the buyer’s decisions must be made quickly. Sometimes an unexpected house comes up on the market before you have time to get pre-approved for a mortgage through a traditional lender or have time to figure out your finances if your credit score isn’t exactly where it ...
• Getting Pre-Approved For A Mortgage When You’re Self-Employed - It’s that time of year for a self-employed business owner to sit down and file your company’s year-end. But are you planning on buying a house in the near future? Or is your mortgage up for renewal soon? These are important questions to think about if you are a freelancer or entrepreneur. When it comes ...
• How To Afford A Mortgage After A Separation Or Divorce - A divorce is an extremely emotional process that affects all aspects of your life moving forward. You must make a variety of difficult decisions including those that revolve around your living situation. A common debate between couples is what happens to the house after they get divorced? Who will get to keep it? Are you ...
• What To Do If You Didn’t Get Approved For A Mortgage - House shopping is an exciting adventure. It means starting a new chapter in your life for your family and making a new home for yourself. Although it is a time of excitement, it can also seem overwhelming with challenges along the way. For example, what happens if you find out that you didn’t get approved ...
• What You Should Consider Before Downsizing - What You Should Consider Before Downsizing There are many reasons why you may be thinking of downsizing your home. It could be that your children have moved out and you have many empty rooms accumulating dust. Or maybe you want a smaller house so you don’t have to deal with cleaning that unused space. Maybe ...
• Why You Should Work With A Mortgage Broker When Buying A Condo - You’ve decided to move and are now searching for the perfect condo to call home. You’ve researched which neighbourhood you want to live in, what condo buildings are in the area, and even have a plan for which colour you want to paint your bathroom. However, before you find your dream condo, you should take ...
• The Ultimate Guide for First Time Home Buyers - You are finally ready to start searching for your first house! That’s exciting. You and your partner are giddy with excitement; starting the next chapter in your lives. You gather around your dinner table in the apartment that you’ve been renting for the past couple of years and stare at the blank sheet of paper ...
• Is It Better To Rent or Own a House? - There are a lot of considerations when moving into a new home.  For first-time home buyers, or homeowners looking to relocate, one question that is always a factor to think about is, “Should I rent or should I own my own house?”  There are always pros and cons for both, and an experienced and professional ...
• Why Is Your Credit Score is Important When Buying a House? - Buying a house is usually a big and exciting step in our lives. Once you’ve found the house you love, and contact a mortgage broker to secure the mortgage you need to buy it, your credit score is one of the first things that you will be reviewed by your mortgage lender. A Credit score ...
• Reverse Mortgages: The Pros and Cons - Times have changed. In Canada, life expectancy is much longer than it has been in the past. People are living well into their 90s and their savings and pensions don’t always add up to the amount they actually need to live on in retirement. When typical sources of income like these fall short, older Canadians ...
• 4 Reasons You Should Work with a Mortgage Broker - With each passing year, more people like you are looking to buy their first home. You’ve made an offer on the house you want to call home. Now you need to figure out which mortgage lender to work with when it comes to getting pre-approved for the mortgage you need. Navigating mortgage contracts and fully ...
• What’s the Difference Between Fixed & Variable Mortgage Rates? - So you’ve finally found the house of your dreams and can’t wait to call it home. Your finances are in good shape and you want to get pre-approved for a mortgage. You know buying a house is usually a long-term commitment so you want to choose the right mortgage and interest rates. In finance, interest ...
• Why You Need to Get a Mortgage Pre-Approval in 2021 - Buying a home is a goal many young Ontarians have on their to-do list and it’s a lofty one at that. With housing prices soaring in the past couple of years and rent prices increasing at a similar pace, how is one to get far enough ahead financially in order to buy a home? That ...
• Buying a Home in Retirement & What You Need to Know -   Retirement is a time in life that we all dream about. The day we can quit our job, celebrate with a big party and kick back and relax for years to come. The idea of retirement might make you think of spending your days cozied up with a few good books, long walks with ...
• Important Things to Know About Renewing Your Mortgage - Before the end of your term, you will have to renew your mortgage unless you sell your home before your mortgage term ends. A mortgage renewal is the process of taking the outstanding balance of your mortgage loan and renewing that loan for another term at a new mortgage rate. Typically, you want to renew ...
• Using Your Mortgage to Pay Down Debt and Increase Cash Flow - On the surface, your mortgage may be a long-term investment or a way to save for your future. But a mortgage is more than what meets the eye. Even though a mortgage is itself a loan, similar to other types of debt, it can actually provide you with the opportunity to save money and can ...
• First-time home buyers – Does it make sense to buy a house now or wait? - If there is one thing we have all noticed lately it’s how crazy home prices are. If there is a second thing we have all noticed it’s how crazy rental rates are to rent a house or apartment as well. So the burning question of late is: Does it make sense to buy a house ...
• Understanding How Mortgage Penalties Work - It is important before signing any mortgage agreements to read the fine print. Mortgage penalties are an important part of a mortgage agreement; however, most homeowners don’t find out about them until they have to pay them. When shopping for a mortgage, you should carefully consider your options and choose a mortgage that best fits ...
• Top Tips for Getting a Low Mortgage Rate - There is more to getting a great mortgage rate than just comparative shopping. It is also much more than having a good credit score. When you apply for a mortgage, there are many factors your lender will review to determine not only if you qualify for a mortgage, but what interest rate you will pay. ...
• Should you refinance your mortgage? - When you choose to refinance your mortgage, you replace the existing mortgage you have in place with a new one with different terms. There are many reasons a person may choose to refinance their mortgage. Perhaps interest rates have dropped since you signed your mortgage. Or maybe you want to tap into your home equity. ...
• Mortgage FAQs for First-Time Home Buyers - When you buy your first house, you have so many mixed emotions roll through you. From the excitement of buying a home of your very own, to a fear of buying the wrong house, to simply being overwhelmed by the whole process overall. It’s no small decision, buying your first home. That’s why I like ...
• How much of a down payment do you need? - You’re ready to buy a house. You’ve lowered your debt, you’ve been saving for a down payment for a while, and you’re finally ready to take the next step in buying your first home. When buying a house, the down payment is one of the biggest upfront expenses you will have to pay. The more ...
• What is amortization? And other mortgage terms you should know. - If you are a homeowner, or you are a first-time homebuyer, it is important to know at least a few common terms used when talking about mortgages. While you may not need to talk about mortgages very often, you can expect to have a conversation about your mortgage at least every five to ten years ...
• Should you consider Airbnb as an investment strategy? - Do you own an additional space or property that you’re not using? Have you ever stayed at an Airbnb and heard of the lucrative possibilities of owning an investment property? Hosting an Airbnb does present major opportunities for real estate investors. However, hosting an Airbnb does come with some challenges too. This is my shortlist ...
• Everything you need to know about co-signers - Are you having trouble qualifying for a mortgage loan on your own? Or are you not getting approved for a large enough mortgage loan and need to amp up your mortgage application? If you’re having trouble getting approved for a mortgage, a co-signer may be what you need to save the day! But what is ...
• A Quick Guide To Different Types of Mortgages in Canada - Getting approved for a mortgage is an exciting time. While it can be hard work, buying a house is one of the most rewarding experiences people go through in their life. Not only do you have a place to call your very own, but you are also investing your money into your future. However, there ...
• How to afford your first home in Ontario - As it is widely known, Ontario is one of the most expensive provinces to live in, second to British Columbia. According to a recent report, Milton, Mississauga, and the GTA are the three most expensive cities in all of Ontario to buy a house in 2021. Prices are high, and there are tons of first-time ...
• What to do if your debt is in the way of getting approved for a mortgage - Buying a house is exciting but hearing that you can’t get approved for a mortgage can be heartbreaking. However, it doesn’t mean there isn’t any hope. There are many reasons why you may not get approved for a mortgage, or not approved for an ideal amount. For many people, the culprit is their outstanding debt. ...
• What you should know before purchasing an investment property - There are so many great benefits of owning an investment property. Real estate is an excellent avenue to invest your money, receive a passive income, take advantage of income property tax reductions, and so much more. If you’re considering buying an investment property, now is a great time to do so. However, there is a ...
• Renovating your home? Use Your Mortgage & Home Equity! - There are a variety of reasons you may have decided to renovate your house. Perhaps you’re looking to make your house more energy efficient by replacing the windows. Maybe your deck is out of shape and needs repairs. Or you’re simply tired of looking at your dated kitchen and need to spice things up. Whatever ...
• Beyond a Mortgage, what are the costs involved with buying a house? - You’ve decided to buy a house – congratulations! You’ve met with a fantastic mortgage agent or mortgage broker (like me), got approved for a mortgage, and have had your offer approved for the house of your dreams. But if this is your first time buying a house, have you considered what expenses come next? Buying ...
• What is a guarantor on a mortgage? - You’ve tried to get approved for a mortgage, but you didn’t get approved for the amount you were hoping for. What are your next steps? Well, firstly let me start by saying that you still have tons of options. It can be disheartening to hear that you haven’t been approved for the ideal amount. But ...
• How to improve your credit score to secure a mortgage - When getting approved for a mortgage, there are a few things you should come prepared with. There’s having a down payment saved, having your ID and employment history at the ready, but there is another major part of your application — Your credit score. A credit score is a number that is designed to represent ...
• Buying your first home 101 - Thinking about buying your own place? Buying a house is one of the most rewarding and exciting experiences a person can go through. It can also be pretty overwhelming, particularly if you’re a first-time homebuyer looking to secure your first mortgage. Buying real estate is also one of the biggest financial decisions you will probably ...
• Why get pre-approved for a mortgage? - Many people believe that their first step in buying a home is contacting a realtor to start house hunting. What you’ve heard, is untrue. Buying a house doesn’t start in an open house or with a search on MLS, it starts in a mortgage broker’s office. Why? Well, before you start shopping for a house, ...
• First-time home buyers – Should you buy a house now or wait? - It’s no secret that the Canadian housing market is extremely hot right now. Particularly in Ontario, houses are selling at record-high prices. Since the beginning of the global pandemic in March 2020, housing market prices started to increase and are still on the rise in 2021. According to the Toronto Regional Real Estate Board, the ...
• Spring 2021 & The Real Estate Market - 2020 was easily one of the hottest years in the Ontario real estate market to date. There was a huge demand for residential real estate, and it’s a trend we have continued to see throughout the beginning of 2021. There are tons of buyers out there, like yourself, but not quite enough supply for the ...
• Recently divorced? Here’s how to get approved for a mortgage. - Going through a divorce or separation is not an easy process. It’s an emotional, heartbreaking experience that no one can prepare you for. Leaving your partner is not an easy choice to make, and it can drastically change your life in both positive and negative ways. One of the biggest setbacks, in particular, is the ...
• Getting approved for a mortgage if you’re self-employed. - You’re thinking about buying a house, that’s great! Buying your first home is an exciting financial venture to take on. One of the first steps you will take on that journey is finding out how much of a mortgage you can get approved for. But, as someone self-employed, there are a few extra steps you ...
• 5 Tips To Success When Buying a Condo in Barrie - There are many advantages to living in Barrie. Tons of activities to do, beautiful sights to see, and not to mention the top-notch health facilities and highly rated schools in the area as well. Yes, living next to Lake Simcoe is amazing, but do you know what would make it even better? Living in a ...
• What is the Affordable Homeownership Program? - With housing prices on the rise and Barrie becoming one of Ontario’s most sought-after real estate markets, buying a house for many Ontarians may feel close to impossible. But it doesn’t have to be this way. What’s amazing about the province we live in, is that you have options available to help you reach your ...
• Taking the leap from renting to owning a house - To rent, or not to rent? That is the question – whether to continue renting or to buy a house and take on a mortgage. There’s a common misconception that renters are throwing their money away, and another that you need to buy a house as soon as you can afford a down payment for ...
• Got the winter blues? Don’t let them be from mortgage woes. - Is your mortgage giving you a case of the winter blues? You’re not alone. Many of us dream of having our monthly mortgage payments just disappear overnight. Now, overnight may be far too ambitious, but what if I told you that there are ways you can pay off your mortgage faster. Well, there are! These ...
• Falling out of love with your mortgage? How & when to call it off. - Is your mortgage causing you financial grief? Do you feel as though your monthly mortgage payments are draining your wallet? It could be because your mortgage is too high. On average, if more than 30-32% of your annual income is going towards your mortgage payments, you’re paying too much for your mortgage. But there’s no ...
• When & how to access your home equity - When you take on a mortgage, it feels as though you’ve taken on a large amount of debt. Although this is partly true, it’s important to remember that a mortgage is an investment. Your home holds a lot of your financial wealth, which is your home equity. Home equity is the value of a homeowner’s ...
• Financial planning and RRSPs - You’re ready to start financially planning your future, but where should you start? Navigating different savings plans and ways to invest your money can be overwhelming.. I’m here to help simplify your journey. One of the many savings accounts you can choose from to start investing your money in is an RRSP. But, what is ...
• A Home Renovation For Christmas & How To Finance It - Who doesn’t love getting gifts? I know I do. The holidays are here! But due to the COVID-19 pandemic, maybe your Christmas shopping list is looking a little shorter this year. It’s bittersweet, but with the money you’re saving, why not treat yourself to a nice little (or big) gift? It’s time to stop putting ...
• Do you need a mortgage co-signer? - Buying a house is an extremely exciting experience, but it can also be stressful and disheartening to not get approved for a mortgage right away. Just because you didn’t get approved, doesn’t mean it’s impossible to eventually get approved for the mortgage you need to purchase your first home or your dream home. Particularly if ...
• The Pros & Cons of Buying a Home with a Group of People - When it comes to buying a home in Canada, it is getting more and more difficult to do on your own. As property values continue to climb in different areas, it’s also becoming increasingly more hopeless to find a place on your own. That is why you may be considering buying a home with a ...
• 3 Ways To Avoid The Holiday Debt Crunch This Year - The joys of the holidays are fast approaching. The lights, the decorations, the Christmas cheer …and of course – the holiday debt. Money is a big stressor for many of us during the holidays, especially this year with the COVID-19 pandemic, your wallet may be looking a little bit lighter than usual. Your finances don’t ...
• How to reach your down payment goals - You’re thinking of buying a house, that’s fantastic! Buying a house is a rewarding experience but requires a lot of planning and thinking ahead. More specifically, you need to think about your future financially if you choose to buy a house. What is your current financial situation like? Are you in a good enough place ...
• 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, ...
• 5 things to think about before upgrading to a larger home - There’s a lot to think about when buying a new home. Whether you’re still living in the first home you bought or you’re an investment property pro, each house you buy is a major investment that needs to be thought through very carefully. Particularly when you’re about to purchase a larger property, there are going ...
• 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 ...
• First Time Homebuyers 101: Your checklist to take care of before the house-hunt - So, you have decided to buy your first home – congratulations! Buying your first home is an exciting and rewarding experience. There is a lot to look forward to when it comes to shopping for your first home such as checking out different neighbourhoods and browsing houses online, looking at what’s available. However, there are ...
• 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 Keep Your Home In a Divorce. - It’s a common debate between a married couple getting a divorce: who gets to keep the house? However, the question you should be asking yourself is: who can afford the house on their own? A divorce is an extremely emotional process where sometimes our feelings can mask our better judgement. Many of us have emotional ...
• 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 ...
• 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 ...
• 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 ...
• 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 ...
• 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 ...
• 5 Tips to Improve Your Credit Score - Your credit score can make or break your real estate dreams as a first time home buyer. Especially with the stress test looming overhead while you’re scrambling to get your savings together for a down payment. Mortgage lenders always will review your credit score before pre-approving you for a mortgage for a few reasons. So ...
• What are the penalties if I break my mortgage? - The Bank of Canada has announced many dips in interest rates over the past few months, so I thought it timely that we talk about the penalties of breaking a mortgage as I’ve had clients asking me recently if it makes sense for them to break their mortgage to take advantage of lower interest rates. ...
• What happens when you buy a house without a pre-approval - It’s exciting, house hunting for the place you will call home. Especially if it’s your first home buying experience. You look through all the listings online, you make your wish list, you go out and see them in person — or virtually! Then it happens…you fall in love with a home and you are set ...
• 5 things I wish I had known as a first time home buyer - When I look back at the time I purchased my first home, I was far from an expert and I only knew the bare basics of mortgages and what I was getting into. Making the transition from renting an apartment, condo or house to buying your first home is a big leap, though a rewarding ...
• Dealing with Debt, your mortgage & COVID-19: for the self-employed - Looking back at February in 2020, many self-employed individuals and business owners had no idea their world would change come March 15 onward. COVID-19 has had a vast impact on business owners and support from the government has been tough to navigate on many levels from an HR perspective, an operating standing point and cash ...
• The Bank of Canada Just Lowered Interest Rates Again – What You Need to Know - On March 13, 2020, the Bank of Canada made a pretty big cut to interest rates. In their press release, they mention that: “this unscheduled rate decision is a proactive measure taken in light of the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent sharp drop in oil prices”. The ...
• 5 Thoughts to Ponder Before Buying a Condo in Barrie - There are many reasons why you should choose to live in Barrie. The affordable living costs, the amazing balance between urban and rural living, and the lively downtown core. With a Barrie condo, however, you get to experience all of that with the bonus of a killer view and an easy, and a “less-maintenance” lifestyle ...
• Do You Qualify for the Affordable Homeownership Program? - For many renters in Simcoe County, the idea of owning a home isn’t exactly an option due to affordability. Across all the cities in Canada, Barrie was rated the 13th most expensive city to live in. The Canadian Government has implemented different assistance programs such as the First Time Home Buyer’s Incentive. However, these programs ...
• Are You Ready for Home Ownership? - Congratulations! You’re ready to graduate from renting to owning your very own home. However, have you carefully thought about the lifestyle and financial changes that come with becoming a homeowner? Without careful preparation and research, taking the jump from renting to owning a house can come at quite a shock for some people. To help ...
• What is Home Equity? - There are several reasons people consider taking out home equity loans. Perhaps you’re thinking about doing some home renovations. Maybe you’re paying off other large financial debts such as college tuitions, car loans or credit card bills. For some, it may be because you’re paying off a large emergency expense or with longer lasting retirements ...
• Think Before You Spend – Managing Your Inheritance - You’ve just inherited a large amount of money. Inheritances can create excellent opportunities for you depending on how much you received. For some people, the immediate thought is to spend that money right away. However, inheritances can have great financial impacts for you if you treat them carefully. Normally with an inheritance, it involves a ...
• TFSA – What Is It & How Does It Work - Want to start investing and you’re not sure where to start? You’ve come to the right place. In Canada, lots of millennials are saving – in fact, roughly 80% of the generation has savings. But are they really using their money to it’s fullest potential? According to a survey conducted by the Ontario Securities Commission, ...
• Financial Planning of RRSPs, and Why You Should Care - There’s an acronym that keeps popping up recently: RRSP. Unsure of what an RRSP is and how they can help you when buying your first home? Well, you’ve come to the right place. Here’s a quick crash course on RRSPs and how they can make a huge impact on your financial planning strategy. What 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, ...
• A Year in Review – Mortgage Highlights From 2019 - Wow, 2019 sure flew by, as did the entire decade! With the excitement of a brand new year upon us, let’s have a look back at 2019 and unpack some of the key issues that impacted the mortgage world and home ownership in Canada. The mortgage stress test The much-debated mortgage stress test has been ...
• New Year’s Resolutions – Don’t Put off that Home Renovation - It feels like we just began 2019, and now we’re saying goodbye to another year and another decade. It’s a great time to start fresh and tackle something important, like a home renovation or much-needed repair. The problem for many people is…how exactly will you pay for such a project, particularly if your savings aren’t ...
• Do You Need a Mortgage Co-Signer? - For many people with less-than-stellar credit ratings, sporadic (or self-employment) income, or perhaps you’re new to Canada and don’t yet have a credit rating, getting approved for a mortgage can be tough. Even if you know you can afford the mortgage payments and upkeep, lenders may view you as too high a financial risk. That ...
• What’s Trending: Is Buying a Home with Friends or Family for You? - Today’s sky-high housing prices in many areas mean that young people and families are being priced out of home ownership. With record-high rents and limited affordable housing options in some cities, a new trend that is growing in popularity is that of buying a home with other people such as friends, family and coworkers. This ...
• 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 ...
• Going for It: How to Reach Your Down Payment Goals -   If you’re tired of renting or want to move into your very own space, it’s a great time to think about buying a home. Not only are there a lot of affordable options to choose from in Barrie and Simcoe County to meet your specific needs, but there are great mortgage interest rates right ...
• Fall & Winter House-Hunting: Tips for Savvy Buyers - Didn’t get to house hunt during the peak spring and summer months? Maybe you weren’t financially ready or didn’t have the time…but that might not be a bad thing! While the weather may be better for touring homes and it’s easier for families to move during the summer, you may find some big advantages to ...
• 5 Reasons Why You Should Work with a Mortgage Broker -   Want excellent customer service, access to the best mortgage rates and peace of mind knowing you’re in good hands? Then you need to work with a mortgage broker when it’s time to buy your next property, renew your mortgage or take out a home equity loan! It’s an old misconception that a mortgage broker ...
• What You Need to Know Before Buying an Investment Property - Buying an investment property can be a great long-term investment, with the added bonus of enjoying the income from regular rental payments. It also a great opportunity for first-time buyers to break into the housing market, as they can rent it out (or a portion of it) until they’re ready to take it over or ...
• 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 ...
• Digging Deeper – Knowing Your Down Payment Options - Are you excited about the prospect of buying your first home, but just can’t figure out how to get that down payment nailed down? It’s not easy to save up for something as monumental as a down payment, especially when homes are priced so high in many areas. However, having a strategy in place for ...
• Rejected by Your Bank? Mortgage Options You Need to Know - Home ownership is a personal and financial goal for many people, but sometimes it can feel out of reach, especially if you’ve been dealt a rejected mortgage application by your bank. While you may think this rejection is the end of the road for you, there are steps you can take to move forward in ...
• Conditional vs. Firm Offers – What You Need to Know -   Buying a home is a complex process and considering that it’s likely the biggest purchase we ever make, it’s important to understand all the details: personally, financially and legally. One area that can cause a bit of confusion especially for first-time homebuyers is understanding conditional offers compared to firm offers and how to choose ...
• Refinancing & Home Equity 101 - Since it’s back to school time, let’s take a look at a question I’m often asked and learn more about mortgage refinancing and home equity options. There are many reasons why people want to refinance their mortgage and start fresh with something that’s more in tune with their current financial situation. For example, perhaps you’re ...
• Want a Custom Home Build? Here’s How to Finance it: - Have you always dreamed of building your own custom home or cottage exactly the way you want it? You’re not alone! Perhaps you’ve found the perfect plot of land or you’re on the hunt for something super unique…all you need now is the financing. Don’t despair – there is a mortgage you can get for ...
• Home Purchase Professionals You Need for Your Winning Team - It wasn’t that long ago that our Toronto Raptors brought home that long-awaited NBA Championship, and while Kawhi Leonard was undoubtedly a superstar MVP, it was the work of the entire team that earned them their success. The same is true when purchasing a property; you need a solid team of professionals to ensure a ...
• Safe & Sound – Security Tips for Your Cottage - I’ve talked a bit about vacation, cottage and other recreational property purchases recently, so it only seems natural to explore the importance of how to protect your big investment and help to keep it safe and sound, all year round. A cottage or chalet is meant to be your time to relax and escape the ...
• Top 5 Tips for Buying an Investment Property - The lure of owning an investment property is quite appealing, and for good reason. Real estate values keep going up, and the demand for rental properties is high – especially here in our region. Having an investment property can mean you have a steady income from the rental unit(s), as well as a nest-egg to ...
• The “Ins & Outs” of Those Tricky Cottage Expenses - In an earlier blog post, I explored the importance of financial readiness when thinking about buying a cottage or recreation property. As most Canadians know, a cottage is so much more than a relaxing oasis or fun family getaway – it’s a truly magical place. However, it also carries with it financial and maintenance obligations ...
• Are You Ready to Dive In & Buy That Cottage or Vacation Home? - With interest rates low and the current economy feeling pretty stable, many people are turning their thoughts to owning a cottage, cabin or vacation getaway. After all, who doesn’t dream of escaping city life to enjoy boating, fishing, swimming, entertaining friends and puttering around at their very own family cottage from time to time? You ...
• Hot Off the Press! Must-Know Facts About the New First Time Home Buyer Incentive Program - It’s finally here! A brand-new update was released on the much-talked about First Time Home Buyers Incentive program offered by the federal government’s National Housing Strategy. This new program will be administered through the Canadian Mortgage and Housing Corporation (CHMC), and it’s designed for those struggling to find affordable housing, which as we all know, ...
• Financing Options for Your Summer Renovation - Is this the summer you’re going to dig in to that special home project you’ve been wanting to accomplish for years? Many homeowners are eager to make their outdoor living space as perfect as possible by adding a new deck, patio, ‘she-shed’, fence or maybe a swimming pool – just to name a few of ...
• On Your Mark, Get Set, BUY! How to Compete in a Busy Real Estate Market: -   Spring and summer are the most popular times of the year for homes to be listed on the market. There are several reasons for this, such as nicer weather, summer vacations and/or slower business which allows time to prepare a home to sell, and it’s also the ideal time to maximize a home’s outdoor ...
• Buying a Condo? Check Out the Top 4 Condo Conundrums - If you’ve been looking through the local papers or on MLS for properties for sale in Barrie and Simcoe County, you’ve likely noticed that there are a lot more condominiums up for sale, as well as in the construction stage. Condos are definitely on the rise not just in our area, but all across Canada. ...
• 3 Great Ways to Pay for Your Home Renovation - With the spring housing market predicted to remain sluggish, many would-be home sellers are staying put and loving their current home or condo a little longer. This becomes a great time to get those much-needed renovations done once and for all and truly enjoy your home. Whether you’re tired of your tired, outdated kitchen or ...
• Considerations for Purchasing a Cottage or Vacation Property -   With winter finally behind us, it’s time to start thinking about summer and start making those sunny-day plans! Many people dream of owning a cottage or cabin getaway and visualize long, lazy days on the dock, naps in the hammock, fishing and barbeques. There’s only one thing getting in the way however…how to finance ...
• Why You Need a Real Estate Agent - There are many things we can do on our own to save money without the need to call on a professional. For example, lots of us can build a deck, paint our house, or do our own taxes just fine without any outside help. However, when it comes to real estate transactions, it’s not that ...
• Getting a Jump Start on the Spring Housing Market - There’s no denying that winters in Barrie are long, and when spring comes around there’s an energy and excitement in the air that just can’t be beat. The real estate market also revs up in the spring, and in order to take full advantage of it and get that home you’ve been dreaming of, you’ve ...
• Buying Your First Home in Canada? Here’s What You Need to Know - If you’ve just moved to Canada from another country, you’re already in the midst of an exciting transition in your life. As part of this transition, you may be looking to purchase a new home (and maybe even your first home!). Although you may already be somewhat familiar with the purchasing process, here are a ...
• What to Do Before Buying Your First Home in Barrie - You’ve done the math and while you’d love to make your dreams of homeownership a reality, financially, it’s not quite the right time to start your new home search. Don’t fret! Although it may not be the time to buy just yet, there are still things you can do that will move you closer to ...
• How to Prepare for Your First Rental Property - Passive income. A solid, long-term investment (particularly if the value of the property increases). Why wouldn’t you want to own a rental property? Although there are definitely quite a few benefits, there can also be a few downsides if you’re not prepared to buy your first investment property. Here are a few key tips to ...
• Thinking of Buying a Rental Property? Read This First. - You’ve thought about it for years. It’s a great way to make extra money in addition to building more equity. But what about the risks? Are there any downsides you should be aware of? Are you really ready to become a rental property owner? Before jumping in head first and buying a rental property, it’s ...
• What You Really Need to Know Before You Renovate - Your HGTV addiction has finally convinced you – it’s time to renovate! But wait – hold up! Before you grab that paintbrush or rip out those outdated bathroom tiles, there are a few things you really should consider. Here’s the lowdown on what you need to know before you decide to renovate your home: Make ...
• What the Heck is a HELOC? - If you’re a homeowner, you’ve likely come across the term HELOC before. You may have even considered applying for one. But do you really know what the heck a HELOC is? What is a HELOC? To understand a HELOC also known as a Home Equity Line of Credit, it’s best to think of it as ...
• What is the Difference Between an Appraisal & a Home Inspection? - Purchase agreements, chattels, variable mortgages – when it comes to buying a new home, there are quite a few real estate terms that you should be aware of. Two terms that you may have already come across are home inspection and home appraisal. Although somewhat similar, these are not actually the same thing. Here is ...
• 5 Crazy Easy Ways to Stick to Your Budget This Summer - Owning a home – this is the year that you’re determined to make it happen. All you need to do is cut back your spending and put a little extra towards that down payment every month. You also need to stick to your budget. Easy-peasy right? But wait – it’s summertime and the livin’ is ...
• Understanding the Closing Costs on Your Home Purchase - Very few people are lucky enough to simply decide on a whim to buy a home or cottage, and then purchase one the very next day. It usually takes time to carefully save for a down-payment, rearrange finances, get pre-approved by a lender, and decide where to live. Although it’s not always easy when making ...
• What Are Land Transfer Taxes (& Do I Need to Pay Them)? - They say that there are two things in life that are inevitable; death and taxes, and when it comes to buying a home, there are definitely taxes involved that every home buyer needs to know about. One question I get often is about land transfer taxes; specifically, who needs to pay them, how it works, ...
• 3 Easy Ways to Keep Your Credit Score in Good Shape - How healthy is your credit score? It’s not likely something you consider every day, however, it is important to be aware of what shape your credit score is in, especially if you are planning on buying a home and will need to get approved for a mortgage from a mortgage lender. Before thinking about how ...
• 10 Awesome Things to Do in Barrie this Summer - Summer is finally here! How do you plan to make the most out of your summer and make great memories? With consumer debt a growing concern for Canadians, many families in Simcoe County are choosing the ‘stay-cation’ option rather than a costly vacation away in order to save money. If a ‘stay-cation’ is part of ...
• Three High Tech Tools to Help You Save For Your First Home - According to a recent poll, almost half of Canadians who fall between the ages of 25 – 34 dream of buying their first home. Although the intention is certainly there, the poll also suggests that only a quarter of those with home ownership dreams have been able to put money aside in order to make ...
• Are You Really Ready to Buy Your First Home? - As the adage ‘Home is where the heart is’ suggests, our homes are much more than bricks and mortar (or wood and steel). Instead, the place we call home is where we feel happy and safe, where we create memories and where we grow together. Also, for most of us, it’s also our biggest investment ...
• Is Now the Right Time to Buy a Home? - When it comes to the real estate market in Canada, there’s definitely a lot going on! From the recent mortgage stress test regulations and rising interest rates, to a decrease in the number of homes being sold, there has been no shortage of real estate news – news that may have many potential home buyers ...
• Five Tips to Help You Tackle Your Debt This Spring - Ahhh spring… the birds are chirping, the sun is shining, plants are beginning to sprout – it’s the time of year that can inspire many to seek a fresh start. If you, like many Canadians, currently carry quite a bit of household debt, it may be a good idea to focus this fresh start on ...
• Buying Your First Home? Read This First. - The spring season is almost upon us. In addition to nicer weather, spring also brings a surge in real estate activity in Simcoe County, with many individuals and young families looking to purchase their very first home. While it’s an exciting process, the search for your first property can also be a little stressful for ...
• What Exactly is a Conditional Offer? - If you’ve bought or sold a house in the Barrie area or you’re in the process of buying your first property, you’ve likely come across the term ‘conditional offer’ before. Although this is a relatively familiar term, many people are not aware of what a conditional offer really is, including the responsibilities and requirements that ...
• Why January is the Best Time to Buy a Home - Looking to purchase a new home in Barrie? Not sure when is the best time to buy? Although the weather may not be ideal, you may be surprised to learn that the winter season is actually the best time to purchase a home. Why Winter? Although spring is typically thought of as real estate season, ...
• How to Tell If a Bridge Loan is Right for You - You’ve found your dream home in Barrie and need to snap it up before it’s off the market. There’s only one problem. Your house hasn’t sold yet. Or, maybe you’re planning major renovations to your new home and want to complete them before you move in. Whatever the case may be, a bridge loan may ...
• How to Avoid Common Mortgage Mistakes - The search is over. You’ve finally found the property of your dreams and you’re ready to make an offer. Congratulations! While purchasing a home or cottage is definitely an exciting time, it does also come with some associated stress. You have likely heard a story or two about the things that can go very wrong ...
• Venturing Into the Mortgage World – Challenges for Self-Employed Professionals - Love being your own boss? There are certainly many benefits to working for yourself, including control over the type and nature of the work that you do, and the flexibility you can enjoy in terms of your working hours and environment. That’s not to say the freelance life is completely full of free-wheeling ease and ...
• Learning the facts about assumable mortgages - Now that interest rates are predicted to rise, an increasing number of people are talking again about assumable mortgages, also called a mortgage assumption. With an assumable mortgage, the home buyer can take over, or assume, the obligations of the existing mortgage of the seller – but only with the approval of the original mortgage ...
• How Does the Bank of Canada Control Interest Rates? - The Bank of Canada seems to be shrouded in mystery; who are they and how can they control interest rates for an entire country? This unique corporation has an interesting job to do, and as Canadians, it’s rather comforting knowing they ultimately have our backs. What is the Bank of Canada and how does it ...
• New Mortgage Qualifying Rules & What You Need to Know - New mortgage rules were recently released by Canada’s top regulator of federal banks, The Office of the Superintendent of Financial Institutions (OSFI), and will take effect on January 1, 2018. These rules were designed to protect today’s housing market, and help avoid the economic risks associated with even a slight increase in interest rates. Many ...
• Mortgage renewals: time to hit “refresh” on your options - Time flies when you’re…working hard to pay off your mortgage. Before you know it, your mortgage term is coming to an end, and it’s time to renew. Most of us go through mortgage renewals several times in our lifetime; sometimes the interest rates are higher than our current rate, and other times we get lucky ...
• How Does the Equifax Breach Affect Canadians? - As many people may know, there was a massive security breach at Equifax recently. The reason there is such a buzz about it is because Equifax is one of the largest credit reporting companies, and it holds the personal and financial information of hundreds of millions of people. For Canadians, it was reported that approximately ...
• Fixed vs. Variable Mortgage Rates – Lock in your rate, or fluctuate? - If you are looking to renew your current mortgage, or you are a first-time home buyer, you likely already know just how many little details need to be sorted out before deciding on what kind of mortgage you will end up getting. One consideration is whether you should get a fixed-rate or variable-rate mortgage.  If ...
• The real deal on getting a down payment for your new home - If you are applying for a mortgage, you need to have a down payment; there’s no way around it. By law, lenders can only approve a maximum loan of 95% of the value of the home, so the rest is up to you. Mortgages with only 5% down are called “high-ratio mortgages” because the mortgage ...
• When might I need a co-signer on a mortgage application?  - After looking at houses and applying for a mortgage, there’s nothing more disappointing than having an application denied. If your application is rejected, it’s usually because you (and/or your spouse) did not meet all the lenders’ criteria, or, simply put, your application wasn’t strong enough. You may not even have a poor credit rating, it ...
• What does amortization mean, and how does it impact my payments? - Wait! Keep reading! Most people’s eyes glaze over when we start talking about amortization and mortgage calculations, but I am here to simplify and explain this important part of your mortgage. Amortization of a mortgage refers to the length of time it takes to pay off your mortgage loan, and it is impacted by the ...
• Is the bank the only place to get a mortgage? - When you’ve made the decision to buy a new home, whether you’re making the transition from being a renter to becoming a home owner or you’re taking the leap into home ownership moving out from under your parent’s roof… The most important part of the process isn’t finding the right house to buy… It’s securing ...
• What is the best payment frequency for my mortgage? - When it comes to buying a home as a first-time home owner there are so many things to keep in mind, understand and make decisions about, it can be very difficult if you’re not fully understanding how each step in the mortgage process and what each of the decisions you make will mean for you ...
• How Important Is The Financing Waiver When Purchasing Your Home - In today’s real estate market many people have been waiving the financing clause in their offer to purchase a home. Before 2017 adding a financing clause was what most Realtors® would recommend adding to your offer along with an inspection to ensure the home didn’t have any problems that could be a big expense to ...
• When buying a house do I really need a home inspection? - You’ve finally found a house you love and are ready to make the offer to make it your own. As simple as that statement is, it’s a little more complicated than signing on the dotted line and making a cheque out for your deposit. Although it’s easy to get wrapped up in all the excitement ...
• Why Barrie Is A Great Place To Live - As a mortgage broker in Barrie, I’ve become very familiar with the city, and I can say emphatically that Barrie is one of the best places to live in Ontario. Not only does the city have a thriving real estate market and economy, but it has access to some of the premiere natural landscapes in ...
• How Good Does My Credit Score Need To Be To Buy A House - One of the most anxiety-inducing parts of getting a mortgage is wondering if your credit score is good enough to be approved for the mortgage you want. Since your credit score not only determines whether you’re eligible for a mortgage but also has an enormous influence over what the interest rate will be, it’s important ...
• Buying A Home When You’re The Boss: Mortgage Tips For The Self-Employed - In today’s world, a vital backbone of our economic growth comes from those who are self-employed. While self-employment definitely has its benefits, it can be a little tricky when it comes time to apply for a mortgage. However, not to fear, there are several steps you can take to prepare yourself for a mortgage application ...
• How Much Does Default Mortgage Insurance Cost? - If you have less than a 20% down payment to purchase your new home, you may still be eligible for a mortgage with the support of mortgage default insurance. Mortgage default insurance can help you to purchase your new home as long as you have a minimum of a 5% down payment. In fact having ...
• Is Your Rate Too Good To Be True? - With the real estate market being much hotter than the weather these days, you might have noticed that interest rates on mortgages are at an all-time low as well – Making it a fabulous opportunity for first-time home buyers and real estate investors alike. When you compare today’s interest rates to the rates of 5 ...
• Start The Year Off Right With Good Mortgage Behaviour - With lenders eagerly looking to build their client bases and interest rates being low, mortgages are getting approved fairly often these days. However for many buyers, the hard part isn’t getting a mortgage approval – it’s keeping it. There can be unexpected “land mines” buried in the ground you need to cover from the moment ...
• Manage your mortgage by create a household budget - A household budget isn’t a wish list based on how much money you want to have & how you plan to spend it. It’s a step-by step plan of how to spend the money that you actually have & it only works when it’s realistic. If you set up your budget on real numbers you’ll ...
• Mortgage Penalties Can Be Debilitating, Find Out How To Avoid Or Reduce Them - Far too often I see home owners inquiring about refinancing their mortgage in Barrie to consolidate debt, separation/divorce or a major home renovation only to find out that their pre-payment penalty is outrageous.  In most cases it prevents themselves from progressing into a better financial situation.  It is critical to read into the fine print ...
• Why Should I Get a Mortgage Pre-Approval Before Shopping For a Home in Barrie? - Don’t go looking without one but also don’t rely of one too much!  I prefer to call a “pre-approval”, a “rate hold”.  Lenders will guaranty a rate for 90 to 120 days while you are out shopping for a home, if the rate drops over that time period you normally will receive the lower rate.  ...
• Is Rent-to-Own the Right Choice for my Barrie Home Purchase? - You’ve dreamed of buying your own house in Barrie but for some reason you can’t qualify for a mortgage, due to ever tightening qualifying restrictions.  This has frustrated many young families who are struggling to break a cycle of renting.  There are many reasons why someone might not be in a good position to buy their ...
• Is A Fixed Rate Mortgage Now The Right Choice For My Barrie Home? - It is true that fixed rates offer some longer-term deals if rates go up but are they going up anytime soon?  No one truly knows, economics have been wrong for the last 5 years.  So why should we believe them now?  While it’s true that the economy will eventually get stronger, we’re still a long ...
• First-Time Home Buyer’s Down Payment Options - This is a little known Homeownership Program in Simcoe County (Barrie, Orillia, Innisfil, Alliston, Collingwood, Bradford, Midland, Wasaga Beach) that aims to assist low-to-moderate income earners who are currently renting to purchase a home.  The program will provide a 10% down payment in the form of a forgivable loan. This program is designed to free ...
• What to do when you can’t find the “PERFECT” home in Barrie? - So you’ve spent weeks with a real estate agent looking at everything & anything in your price range.  You’re getting frustrated because every property you look at has at least one “x” on your checklist.  Did you know that you have financing options to improve a property so that it meets your needs & wants?  ...
• What to Expect for your Barrie Mortgage in 2014? - You’ll likely see fixed rates start to rise come the summer.  The Bank of Canada recently suggested that strength in the US market over the next few months will help boost the Canadian bond market.  As the bond yield rises you’ll see fixed mortgage rates start to rise as well.  Say goodbye to the record ...
• Barrie Mortgages Made Simple -   Find out more about Oriana Financial and how we can help you get the very best rates and terms for your house purchase in Barrie. I offer the best strategic mortgage advice covering Barrie, Simcoe County and Central Ontario. Purchasing a home is the biggest financial decision most of us will make in our ...
• 5 Tips on Buying a Home in Barrie - Buying a home in Barrie or anywhere across central Ontario can be both an exhilarating and stressful experience. In this article, we offer 5 tips to help make buying a property a smoother and more pain free experience for you. Tip #1 – Educate Yourself Buying a house is a big deal, especially if it”s your first time. ...
• Barrie’s Fall Housing Market Outlook 2013 - The Canadian Mortgage and Housing Corporation (CMHC) recently released the Fall 2013 housing market outlook for Barrie.  In the report it highlighted that house starts would increase, existing home prices would increase beyond inflation & newcomer employment would support the housing market. While still running at a third of their 2002 peak, new home sales ...
• How to Find the Perfect Home in Barrie - Have you ever spent day-after-day touring resale homes in Barrie with a real estate agent but not finding the “exact” match for your family?  There always seemed to be something just not right, maybe it was the kitchen, the bathrooms, missing a fence or the lack of landscaping.  Did you know that the Canada Mortgage ...
• Are you Financially Ready for Home Ownership? - Are you thinking of buying a home in Barrie to take advantage of the record low lending rates? The first step is to take a good look at your finances to see what is affordable for your situation. The Canada Mortgage and Housing Corporation, provides information about how to evaluate your financial readiness. They have ...
• Barrie Housing Market Information – 3rd Quarter 2013 - CMHC (Canadian Mortgage and Housing Corporation) recently released the latest report on the housing market in Barrie, Ontario.  There were a number of interesting insights that can be extracted from the document. New home construction has slowed in the 2nd quarter of 2013, falling to its lowest level in 5 quarters.  Builders started construction on only ...
• Toronto Home Sales Soar and Prices Continue to Climb - The Financial Post reported today that existing home sales in the GTA rose 30% in September. Sales through MLS accounted for 7,411 home sales up from 5,687 a year ago. “It’s great news that households have found that the costs of home ownership, including mortgage payments, remain affordable”, said Dianne Usher, president of The Toronto ...
• GTA Home Sales Skyrocket 29% in Mid – September - The Toronto Real Estate Board announced at 29% increase in home sales over year across the GTA as of mid-September. In addition to skyrocketing sales, prices increased four per cent with the average residential home in the GTA now costing some $514,560. “The strong growth in sales that we have seen over the past two-and-a-half months ...
• Saving for a Down Payment - One of the biggest challenges most first-time home buyers in Barrie run into is saving a down payment.  We are fortunate to have government backed default insurance in Canada.  These programs provide security for potential lenders, allowing them to only require a 5% down payment from well-qualified applicants.  While 5% does not seem like much ...
• Canadian House Sales Up 2.8% in August - “Sales soar as prospective buyers race to beat rising mortgage rates” – CBC stated yesterday in response to the release of monthly real estate figures from The Canadian Real Estate Association. “Canadians continued to snap up housing in August, with home sales up 2.8 per cent from July and up 11.1 per cent from the ...
• iPad Mini Referral Contest Winner! - I like to thank everyone who participated over the last couple of months in my “Win An iPad Mini” referral contest.  The draw was held yesterday & we now have a winner!  I was able to present the prize yesterday afternoon at my office.  …AND THE IPAD MINI WINNER IS… Ilan Kibel from A.Farber & ...
• Is the Variable Rate Mortgage Ready for a Return? - It was only a couple of years ago that 5 year variable rate mortgages were as popular as the 5 year fixed.  Lenders were offering deep discounts of up to .85 or .90% below the Prime rate, that made for a variable rate of 2.15 or 2.10%.  Lenders started to realize that their profit margins ...
• First-Time Home Buyers in Barrie - Buying your first home can be a huge undertaking; researching the Barrie market, working out a budget, understanding the different financing options & knowing where to get help picking the “right” property.  In my experience, I’ve found that buyer’s don’t truly know their down payment options.  I’ve got five options that can either; save you ...
• “No” Means “Yes” if You Have a Co-signer - Though commonly used for smaller purchases such as a vehicle, as lenders tighten their credit guidelines, mortgage co-signers are becoming more and more prevalent in the housing market. Whether you are beginning to establish your credit or you are experiencing a financial set-back, qualifying for a mortgage on your own can be difficult. If you ...
• “Down Playment” to Down Payment - Today, when purchasing a home the desired down payment for a mortgage is typically 20%; however, more often than not, people don’t have that amount of cash available to them without a strategic savings plan in place. There are various ways you can go about saving for a down-payment to buy a home, but ultimately ...
• Mortgage Rules & A Hot Housing Market May Affect Your Wallet - Canada’s housing market is overheated, mortgage rules are stricter and this could affect your wallet – in a bad way. If interest rates begin to rise many Canadians may find themselves in some financial hot water.   The exciting part is that Canada’s housing market is so hot that some home prices are on par ...
• The Importance of a Mortgage Pre-approval in Barrie - You’ve probably heard the old adage “Don’t put the cart before the horse.” That same idea holds true when it comes to home buying in Barrie.  It happens far too often when a person will find that ‘perfect’ place and fall in love with it, only to discover that the home is out of their ...
• Preparing to Apply For A Mortgage to Buy Your First Home - Purchasing your first house is likely one of the biggest and most exciting decisions you will ever make. Although it’s a thrilling time in one’s life, it can also seem like an overwhelming time presenting challenges along the way. Before entering the Barrie realty market, it’s important to establish some key aspects to better prepare you for ...
• The Complicated World of Pre-Approvals - Most home shoppers know that it is important to get “pre-approval” before they start looking around but do they have a true understanding of what they are getting?  Many don’t understand that a standard pre-approval simply confirms that, based on the information provided on an application, they would qualify for up to a $xxx,xxx mortgage.  ...