Steps to Ensure a Smooth Home Purchase

Chances are, buying a home is one of the most important financial decisions you’ll make in your life. And as mortgage financing can be somewhat confusing at the best of times, to alleviate some of the stress and to ensure your home purchase goes as smoothly as possible, here are six very high-level steps you […]

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  • July 28, 2021
  • Blog

What is a Cashback Mortgage?

As the name implies, a cashback mortgage is similar to a standard mortgage, except that you receive a lump sum of cash upon closing. This lump sum will either be a fixed amount of money or a percentage of the mortgage amount, usually between 1-7%, depending on the mortgage term selected. How you use the […]

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  • July 21, 2021
  • Blog

Buying a Second Property

If you’ve been thinking about buying a second property and you’re looking to put some of the pieces together, you’ve come to the right place! Whether you’re looking to buy a vacation property, start a rental portfolio, or help accommodate a family member, there are many reasons to buy a second property (while keeping your […]

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Reposition Your Debts Through Mortgage Financing

If you’re a homeowner looking to optimize your finances, consider taking advantage of your home’s equity to reposition any existing debts you may have. If you’ve accumulated consumer debt, the payments required to service these debts can make it difficult to manage your daily finances. A consolidation mortgage might be a great option for you! […]

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  • June 30, 2021
  • Blog

How To Avoid An Accidental Home Purchase

Buying a property might actually be easier than you think. So, if you have NO desire AT ALL to qualify for a mortgage, here are some great steps you can take to ensure you don’t accidentally buy a property. Fair warning, this article might get a little cheeky. Quit your job. First things first, ditch […]

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  • June 23, 2021
  • Blog

What Banks Won’t Tell You About Mortgage Financing

If you’re looking to buy a property or have a mortgage up for renewal, and you’re thinking about connecting with your bank directly, save yourself a lot of money and regret by reading this article first.  Here are four things that your bank won’t tell you, accompanied by four reasons that explain why working with […]

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  • June 16, 2021
  • Blog

Standard or Collateral Charge Mortgage. What’s best for you?

When arranging mortgage financing, your mortgage lender will register your mortgage in one of two ways. Either with a standard charge mortgage or a collateral charge mortgage. Let’s look at the differences between the two. Standard charge mortgage This is your good old-fashioned mortgage. A standard charge mortgage is the mortgage you most likely think […]

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  • June 2, 2021
  • Blog

New Stress Test Qualifications as of June 1st. 2021

As of June 1st. 2021, if you’re looking to qualify for mortgage financing (either uninsured or insured), you will have to qualify at the greater of the contract rate plus 2% or a new “floor rate” of 5.25%. A little background. In early April, the Office of the Superintendent of Financial Institutions (OSFI) proposed changes […]

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  • May 24, 2021
  • Blog