Blog

There are two types of mortgages – Open vs. closed. Most homeowners obtain closed mortgages when they expect to own the home for a longer period. These mortgages offer lower rates as compared to Open…

In Canada, financial institutions offer many types of mortgages, including closed and open-term mortgages. While open-term mortgages allow flexibility to borrowers to exit without penalty (only per diem interest payable), most borrowers in Canada have…

What is it? Although not directly tied to mortgages, the Land transfer tax is an important cost and consideration for all home buyers when purchasing a property. In Ontario, when you purchase (or acquire) land…

All mortgages in Canada (regardless of the bank) fall into one of 2 categories: Insured or uninsured mortgages. One of the great benefits of being a first-time home buyer in Canada is the option to…

Removing a spouse from a mortgage in Canada is the most common request we get, typically during a legal separation. However, a legal separation isn’t the only reason one might want to remove a name…

First, let’s discuss why credit is important and what constitutes a good credit score in Canada from 2022/2023 onwards.   Why is a Good Credit Score Important? Credit scores (aka FICO Scores) are very important…

You might be surprised to learn just how common “bad credit Mortgages” are. If you were to consider the entire pool of homeowners out there today, chances are that many of them have less than…

What is Home Equity? First, let’s talk about home equity. In Canada, home equity can be extremely useful to help push homeowners forward financially or pull homeowners out of a financial bind. Luckily (in Ontario…

In preliminary steps, yes, they are useful. However, to rely on mortgage calculators 100% - we advise against this.   There are two types of mortgage calculators that mortgage seekers often search for: Mortgage affordability…

To first understand what a Mortgage Agent is, or does, we must first understand the term ‘Agency’. Agency, or an Agency Relationship, is when one party acts on behalf of another party.  In the case…

As many people are aware, three main types of lenders offer mortgage solutions. By default, most people strive to get their mortgage with an A lender, but the B and C lenders do offer value…