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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...
When it’s time to rebuild: Using your mortgage to recover financially
Your mortgage is probably the largest debt you’ll ever take on. Signing a binding contract that instantly puts you hundreds of thousands of dollars into debt can be a daunting notion, even for those who aren’t first-time homebuyers. But taking...
Do I really have a choice? Mortgage options lenders can’t provide
Sometimes it feels like we don’t have a choice. We’re expected to just take what the banks give us, and accept it. But I’m telling you, you do have a choice. You’re not bound by what the bank offers you....
Your mortgage rate is too high? Focusing on the rate alone can cost you more
In Ottawa, when the Bank of Canada announces a change in its prime-lending rate, it’s always big news. The Mortgage Rate is Always News The media seeks out analysis from economists and banking and business experts. Inevitably, talk turns to...
