Mortgage Tips & Advice

Mortgage Portability Defined: Mortgage portability is when you sell your existing home and transfer your mortgage to your newly purchased home. So just like you, your mortgage can move too! Imagine being in a scenario…

While monthly mortgage payments are the standard for many homeowners, choosing a different mortgage payment frequency can help pay off your mortgage sooner, or at the very least, make it easier to manage your household…

To better understand the differences, we should first understand how a Guarantor and Co-signer are the same. A guarantor and co-signer are both used to help obtain mortgage financing on a property - whether it…

At face value, it might seem self-explanatory, yet we often get asked: What is a mortgage pre-approval, and why do I need one? People are right to ask though and that’s because there is some…

Urgent second mortgages are a very common request, especially in markets with growing home appreciation and increasing household debt. And 2023 is no exception to this as more home buyer's are starting to feel the…

Let’s first understand the difference between different classes of mortgages in Canada: As mortgage professionals, we refer to the 3 major tiers of lending as: A-lender mortgage (or ‘A’ bank mortgage), B-lender mortgage (or Alternative…

Today, clients with a revolving portion of their mortgage (or collateral mortgage as it’s often referred to) can use or reuse up to 80% loan-to-value as the mortgage is paid down. This is inclusive of both mortgage…

Recently the government of Canada announces the launch of a First Home savings account which is geared towards first-time home buyers and designed to help them save for their down payments. The best way to…

Although have the best of intentions, sometimes we find ourselves in financial constraints that cause us to fall behind. Most homeowners will tend to make the difficult choice of having non-payments on their other debts…

Renting and buying a home are two options to consider when deciding to move or plant roots. Both options have their benefits and the one that is right for you will depend on a variety…

If you’re like most people, then you are aware that one of the first steps of the home-buying process is to obtain a pre-approval. However, like most people, you might be under the impression that…

If you’re not familiar with a 2nd mortgage, it is simply a loan that is collateralized by your home as 2nd priority to your existing mortgage. These types of mortgages have become more and more…