When it comes to getting a mortgage, one of the more overlooked elements is the option to be able to port the loan down the line. Porting your mortgage is an option within your mortgage agreement, which enables you to move to another property without having to lose your existing interest rate, mortgage balance [...]
When it comes to purchasing a home, most offers include conditions or subjects, which are requirements or criteria to be met before the sale can be finalized and the property is transferred. Some of the most common subjects include: Financing approval Home inspection Fire/home insurance protection Strata document review if appliable The purpose of [...]
Your payment schedule is the frequency that you make mortgage payments and ranges from monthly to bi-monthly, bi-weekly, accelerated bi-weekly or even weekly payments. Below is a quick overview of what each of these payment frequencies mean: Monthly Payments: A monthly payment is simply a single large payment, paid once per month; this [...]
With interest rate hikes on pause, more buyers are coming off the sidelines and looking to enter the market. Prices are high, so protecting your investment and your home is more important than ever. What insurance will you need to protect your new home? A quick Google search will turn up entries for title [...]
Refinancing Your Home Life happens. Whether you are facing financial emergency, wanting to improve your financial situation, put more into your investment portfolio or simply wanting to spoil yourself with a long overdue trip, mortgage refinancing can be the answer – when done properly! Renewing Your Mortgage When it comes time to [...]
When it comes to finding your perfect home, there are so many more options for potential homeowners! From a single-family dwelling to a townhouse to a modular home, the choices are seemingly endless. But, before you start widening your search, let’s take a look at what makes these home types different – and which [...]
Do you need help to meet your retirement income needs? With rising inflation, accessing sufficient cashflow for your desired lifestyle can be challenging. However, with over 70% of Canadians owning their homes, tapping into home equity can be the cashflow solution you need. Tapping into Home Equity If you want to remain in your current home, [...]
Whether you’ve made an offer on a home already or are still in the process of looking, you already understand that buying a home is likely the largest investment you’ll ever make. When it comes to your mortgage application, there are a few things that you should avoid doing while you’re waiting for approval [...]
Your mortgage amortization period is the number of years it will take you to pay off your mortgage. Depending on your choice of amortization period, it will affect how quickly you become mortgage-free as well as how much interest you pay over the lifetime of your mortgage (longer lifetime equals more interest, whereas a [...]
When it comes to getting a mortgage, there are a few things you can do in advance to make the mortgage process easier! getting pre-qualified The purpose of mortgage pre-qualification is to help you get a general idea of what you can afford when shopping for your new home. Pre-qualification will take your own [...]
