Most first-time buyers lack sufficient funds to purchase their home outright and require loan financing (a mortgage) to make it work. In this article, we cover the basics of getting your first mortgage.Read More
Many services are available to give Canadians free access to their credit scores, but the problem is they all provide different results. No industry standards exist to ensure credit score consistency. The solution is to worry about overall 'credit hygiene' rather than any specific credit score. We provide nine strategies to manage credit hygiene and...Read More
Private mortgages have a number of costs you may not expect, and different terms and benefits than traditional mortgages. Rather than just focusing on the interest rate, it's important to understand the total cost of a private mortgage before deciding this product is suitable for your needs.Read More
Despite increasing in market share by nearly 50% in less than a year, most Canadians don't know what private mortgages are. This primer answers commonly asked questions: what is a private mortgage, why would you want one, what problems do they solve, how they are priced, is this the right product for your needs, etc.Read More
Canada's mortgage stress test was designed to help ensure Canadians don’t overstep their financial means. However, there are special cases where it makes sense to bypass this process, yet still keep affordability top of mind. The question is how to safely bypass the stress test and secure the mortgage financing you need when the banks...Read More
Consumer proposals are an important part of the Canadian insolvency process, and are the main alternative to filing for bankruptcy. We answer 5 of the most common questions about consumer proposals.Read More
Tax arrears Is a debt that can't be negotiated away, with a creditor you can't afford to ignore. It's never fun being hit with a large tax assessment, but homeowners have some good options to leverage home equity to settle their debt.Read More
Mortgage pre-approval is used by lenders to “vet” borrowers and estimate spending ability for a home purchase. Seven factors determine the amount, both for pre-approval and final approval.Read More
In this primer for first time homebuyers, we examine how you know you're ready to take the leap, 7 steps to become a homeowner, and 5 common mistakes that first time homebuyers often make.Read More
Canada's mortgage stress test and a new international accounting standard -- IFSR 9 -- are creating tremendous uncertainty for mortgage renewals, including for some borrowers, shockingly high interest rates.Read More
