Blog
What does it mean to refinance?
“My friend rolled their car loan and other debt into their mortgage. Can you do that for us?” When someone says this to me, I know what they really want to do is use the equity they’ve built up in...
The Five “C”s of Credit
If you're a newcomer to Canada, self-employed, working on commission, or have a poor credit history, you may think your chances of qualifying for a mortgage are slim. Think again! The trick is to see yourself through the eyes of...
Using Equity To Renovate Your Home
Selling your existing home and buying another home can be very costly and stressful. Suppose you like your current home or your location. In this case, you may want to consider staying where you are and renovating—allowing for you and...
Collateral versus Standard Charge mortgages
More lenders today are moving towards collateral charge mortgages. Why? Because it glues you to "that" lender. It's not necessarily a bad thing, but you should know what you are signing as it's becoming increasingly important to understand the difference...
Bridge Financing What you need to know
A bridge loan is a short-term loan that you give yourself. You are borrowing money against your existing home's sale to facilitate the down payment on the home you are purchasing. Bridging is a tool that helps you "bridge" the...
Fixed Vs. Variable Rate
What's better, a fixed rate or a variable/adjustable rate? Before I answer this question, you must understand the difference between a fixed-rate mortgage, adjustable-rate, and a variable rate mortgage. An educational moment is coming up. Fixed-rate mortgage: - A fixed-rate...
Financial Stress Tips
Let's start with a reminder. This is a judgment-free zone. Taking advantage of the financial options available to you does not make you a failure or a cheat. It makes you a person with resources. Financial stress can take a...
Explanation of fixed and variable
Let’s talk about rates! Here’s the short story. Yes, the Bank of Canada dropped its interest rate. But it doesn’t affect all mortgages. Specifically, if you have a fixed rate there are no changes for you. Now for the...
Why Choose An Accelerated Payment?
Accelerated payments are payments that increase slightly to allow you to pay down your mortgage faster. There are two common types of accelerated payments: bi-weekly and weekly. Of the two options, bi-weekly accelerated is the most common choice because it...
Mortgage options you might not know about… because no one has told you!
Whether you’re a first-time homebuyer, renewing your mortgage, getting back into the market, or buying a vacation or rental property, there are probably some mortgage options available that you’re not aware of. And they might be options your lender doesn’t...
