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Boc Sept 7th Rate Announcement
Bank of Canada Rate Hike Announcement
After yet another Bank of Canada rate increase, we can expect the banks’ prime rate to increase commensurately. Here is the full fallout of the latest rate hike: ...
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Mortgage Stress test - Everything you need to know and more
Mortgage Stress test – Everything you need to know and more
Many homebuyers ask me how the new mortgage stress test rules affect them. Is the mortgage stress test just for purchasing a home? Do you have to pass the stress ...
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When Do You Need a Co-Signer For Your Mortgage?
When Do You Need a Co-Signer For Your Mortgage?
Mortgage qualifying rules are stricter than ever before. Mortgage rates are rising, and homes are more expensive in Canada. In this market, it's not always easy qualifying for a mortgage ...
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Recent Articles

what are your options for debt relief as a homeowner
When a Homeowner Has Too Many Debts
If you’re a homeowner who wants to get on top of their debts in today's market, we generally offer 3 solutions. This morning, Doug Hoyes and Ted Michalos posted a ...
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Boc Sept 7th Rate Announcement
Bank of Canada Rate Hike Announcement
After yet another Bank of Canada rate increase, we can expect the banks’ prime rate to increase commensurately. Here is the full fallout of the latest rate hike: ...
Read More
Should I Convert My Variable Rate Mortgage to Fixed?
Should I Convert My Variable Rate Mortgage to Fixed?
Homeowners in Richmond Hill, Mississauga, Toronto and the GTA with variable interest rate mortgages watch in dismay as the Bank of Canada ratchets the Overnight Rate. Should you convert to ...
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Variable Rate Mortgages Are About To Hit Their Trigger Rate
Variable Rate Mortgages Are About To Hit Their Trigger Rate
What is about to happen to variable rate mortgages? Most variable rate mortgages have static monthly payments, which protect the borrower’s cash flow from changes to the Prime Rate. Four ...
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COVID-19

How to Fix or Rebuild Credit Fast in Canada
How to Fix or Rebuild Credit Fast in Canada
Situations often arise where a new mortgage application, or car loan/lease, is impacted by a credit score that's lower than ...
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COVID-19 Impact on Canadians' Financial Well-Being
COVID-19 Impact on Canadians’ Financial Well-Being
Running commentary and news updates on COVID-19's impact on banking, real estate, mortgages, government relief programs, personal credit, and other ...
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COVID-19 EI Benefits and CERB Updates -- Q & A from Social Media
COVID-19 EI Benefits and CERB Updates — Q & A from Soc...
Stay at home orders have forced many Canadians to be temporarily out of work and collecting government benefits for the ...
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COVID-19 Q & A: Is It Possible to Renew a Mortgage While In a Consumer Proposal?
COVID-19 Q & A: Is It Possible to Renew a Mortgage While In ...
A reader asks whether COVID-19 has affected her ability to renew a mortgage while still in a consumer proposal, and ...
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Mortgages 101 -- What You Need to Know Before Applying For a Mortgage
Mortgages 101 — What You Need to Know Before Applying For a...
Most first-time buyers lack sufficient funds to purchase their home outright and require loan financing (a mortgage) to make it ...
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Good Credit Hygiene Saves Over $100K On Typical Mortgage
Good Credit Hygiene Saves Over $100K On Typical Mortgage
Many services are available to give Canadians free access to their credit scores, but the problem is they all provide ...
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What Does a Private Mortgage Cost?
What Does a Private Mortgage Cost?
Private mortgages have a number of costs you may not expect, and different terms and benefits than traditional mortgages. Rather ...
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Private Mortgage FAQs: What Is a Private Mortgage and When Would You Need One?
Private Mortgage FAQs: What Is a Private Mortgage and When Would ...
Despite increasing in market share by nearly 50% in less than a year, most Canadians don't know what private mortgages ...
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How To Bypass Canada's Mortgage Stress Test When It Gives a False Negative
How To Bypass Canada’s Mortgage Stress Test When It Gives a...
Canada's mortgage stress test was designed to help ensure Canadians don’t overstep their financial means. However, there are special cases ...
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What is a Consumer Proposal?
What is a Consumer Proposal?
Consumer proposals are an important part of the Canadian insolvency process, and are the main alternative to filing for bankruptcy ...
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Using Home Equity Loan to Pay Off CRA Tax Debt
Using Home Equity Loan to Pay Off CRA Tax Debt
Tax arrears Is a debt that can't be negotiated away, with a creditor you can't afford to ignore. It's never ...
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Mortgage Pre-Approval In Canada: What It Is & How To Get It
Mortgage Pre-Approval In Canada: What It Is & How To Get It
Mortgage pre-approval is used by lenders to “vet” borrowers and estimate spending ability for a home purchase. Seven factors determine ...
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First Time Home Buyers Ontario: Everything You Need to Buy Your First Home
First Time Home Buyers Ontario: Everything You Need to Buy Your F...
In this primer for first time homebuyers, we examine how you know you're ready to take the leap, 7 steps ...
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Can You Be Denied A Mortgage Renewal? Mortgage Renewal Advice From ASKROSS.ca
Can You Be Denied A Mortgage Renewal? Mortgage Renewal Advice Fro...
Canada's mortgage stress test and a new international accounting standard -- IFSR 9 -- are creating tremendous uncertainty for mortgage ...
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mortage renewal 700450X THUMBNAIL (1)
Mortgage Renewal Tips For Ontario
Auto-renewing your mortgage is easy, but can be a very poor financial decision. These top 3 mortgage renewal tips will ...
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Alternative Mortgage Lenders Explained
Alternative Mortgage Lenders Explained
The media paints alternative lenders as shadowy, less-than-reputable lenders who prey on desperate homebuyers. We look at the important role ...
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Buying a Home After a Consumer Proposal
Buying a Home After a Consumer Proposal
Buying a home after a consumer proposal is a real possibility, but you must prepare for the credit history challenge ...
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Two Ways To Pay Off Your Consumer Proposal Early
Two Ways To Pay Off Your Consumer Proposal Early
Once your consumer proposal is approved, a new reality sets in and you adjust to a life of better budgeting ...
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The Myths About Co-Signing For a Mortgage
The Myths About Co-Signing For a Mortgage
What makes a strong mortgage co-signer? Not a great job, nor huge equity with tiny mortgage, nor a fantastic credit ...
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Private Second Mortgage Solved Big Problems
Private Second Mortgage Solved Big Problems
Private mortgages are great tools for solving specific types of problems. Homeowners who need to consolidate debts or pay off ...
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Early Pay Off Of Consumer Proposal Led To Best Mortgage Possible
Early Pay Off Of Consumer Proposal Led To Best Mortgage Possible
When the bank said 'no' to mortgage renewal because of a consumer proposal, switching to an alternative lender and paying ...
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You Must Review Your Credit History Before a Mortgage
You Must Review Your Credit History Before a Mortgage
Discovery of errors on a credit report at the last minute could have cost homebuyers the home they wanted if ...
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Why Refinancing Makes Sense
Why Refinancing Makes Sense
Refinancing your mortgage can be a great tool to achieve many different financial goals, from saving money by lowering your ...
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All Articles

what are your options for debt relief as a homeowner
When a Homeowner Has Too Many Debts
If you’re a homeowner who wants to get on top of their debts in today's market, we generally offer 3 solutions. This morning, Doug ...
Read More
Boc Sept 7th Rate Announcement
Bank of Canada Rate Hike Announcement
After yet another Bank of Canada rate increase, we can expect the banks’ prime rate to increase commensurately. Here is the full fallout of ...
Read More
Should I Convert My Variable Rate Mortgage to Fixed?
Should I Convert My Variable Rate Mortgage to Fixed?
Homeowners in Richmond Hill, Mississauga, Toronto and the GTA with variable interest rate mortgages watch in dismay as the Bank of Canada ratchets the ...
Read More
Variable Rate Mortgages Are About To Hit Their Trigger Rate
Variable Rate Mortgages Are About To Hit Their Trigger Rate
What is about to happen to variable rate mortgages? Most variable rate mortgages have static monthly payments, which protect the borrower’s cash flow from ...
Read More
July 13th Bank of Canada Announcement
July 13th Bank of Canada Announcement
The Bank of Canada has increased the overnight rate by a whopping 1%, which means the chartered banks will most likely raise their Prime ...
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Mortgage Stress test - Everything you need to know and more
Mortgage Stress test – Everything you need to know and more
Many homebuyers ask me how the new mortgage stress test rules affect them. Is the mortgage stress test just for purchasing a home? Do ...
Read More
8 Ways the Federal Budget 2022 Affects You
8 Ways the Federal Budget 2022 Affects You
Federal Budget 2022 - Mortgage and Real Estate Impacts. Last week’s Federal Government 2022 Budget included a much-improved roadmap for first-time homebuyers to potentially ...
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Three Ways To Beat The Mortgage Stress Test
Three Ways To Beat The Mortgage Stress Test
Updated July 18, 2022All major banks are now offering five year fixed rate mortgages at greater than 5%. And the increases are showing no ...
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Rate Hikes Have Begun - What You Need To Do
Rate Hikes Have Begun – What You Need To Do
The rate hikes we have been expecting have started. I recently made a guest appearance on the CBC Radio 1 show, BC Today (starts ...
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Rate Hikes Coming - Here's What To Do
Rate Hikes Coming – Here’s What To Do
There seem to be three big things on everyone's minds these days: The incredible pace at which real estate everywhere is increasing in price.Inflation ...
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When Do You Need a Co-Signer For Your Mortgage?
When Do You Need a Co-Signer For Your Mortgage?
Mortgage qualifying rules are stricter than ever before. Mortgage rates are rising, and homes are more expensive in Canada. In this market, it's not ...
Read More
What Is The Impact Of Rising Interest Rates On Mortgage Pre-Approvals?
What Is The Impact Of Rising Interest Rates On Mortgage Pre-Appro...
With inflation in Canada at its highest levels in 18 years, talk has resumed about the prospect of higher mortgage interest rates much sooner ...
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7 Things You Need To Know About Bridge Mortgages
7 Things You Need To Know About Bridge Mortgages
If your current home will not be sold prior to buying your next home, you probably need a bridge mortgage. The cost and ability ...
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First Time Homebuyer Mortgage Checklist
First Time Homebuyer Mortgage Checklist
When you are making plans to buy your first home, it's impossible to know what you don't know. This first time homebuyer mortgage checklist ...
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What's The Best Mortgage Rate?
What’s The Best Mortgage Rate?
Published: • Reputable mortgage specialists do not believe the number one factor in selecting a mortgage is the interest rate. Once you understand what ...
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Ready To Buy A Home? How To Assemble A Great Support Team
Ready To Buy A Home? How To Assemble A Great Support Team
Everyone needs a home-buying support team that includes a real estate agent, mortgage specialist, and real estate lawyer. As you search for the right ...
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Your Down Payment
Why You Need A Down Payment Strategy
Having the right down payment strategy can save you a lot of money in the long term, and pay back with more equity growth ...
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Mortgage Lingo You Need To Know
Mortgage Lingo You Need To Know
Glossary and explanation of important mortgage terms, with links to relevant articles that discuss the nitty gritty. Links to related concepts make this glossary ...
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Mortgage Pre-Approval FAQs
Mortgage Pre-Approval FAQs
Mortgage pre-approval is essential to knowing what your affordability range is before you make an offer to purchase a home. We explain how lenders ...
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Why Is My Mortgage Application Declined?
Why Is My Mortgage Application Declined?
Mortgage #FAILS. Learn the underwriting risk factors that lenders use when evaluating your mortgage application, and the top 10 reasons why you may not ...
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