What is the maximum mortgage amount one now qualifies for with the rules that came into effect on October 17th? Short answer: LESS. A minimum of 20% less, in fact. But only if you put less than 20% down which would require mortgage insurance. These new rules only impact insured mortgages. Before October 17th, the lenders […]

Many of us have had life experiences in which we have accumulated debt.   Maybe it was for a wedding, maturity leave, a sick relative, a slow patch in business, a lost job or job change, and sometimes all of these can even happen all at once!   It can feel like a crushing weight on your […]

Many of us have had life experiences in which we have accumulated debt.   Maybe it was for a wedding, maturity leave, a sick relative, a slow patch in business, a lost job or job change, and sometimes all of these can even happen all at once!   It can feel like a crushing weight on your […]

Evan Siddall is President and CEO of Canada Mortgage and Housing Corporation. Finance Minister Bill Morneau announced a broad suite of initiatives on Oct. 3 to ensure that overheated housing markets do not compromise Canada’s economic growth. Canada Mortgage and Housing Corporation welcomes these initiatives and indeed had a hand in developing them with the […]

Evan Siddall is President and CEO of Canada Mortgage and Housing Corporation. Finance Minister Bill Morneau announced a broad suite of initiatives on Oct. 3 to ensure that overheated housing markets do not compromise Canada’s economic growth. Canada Mortgage and Housing Corporation welcomes these initiatives and indeed had a hand in developing them with the […]

1. Make a double mortgage payment whenever you can. Doing this once a year can shave over 4 years off the mortgage! Sometimes you can skip a payment later on too…if you really, really need to. Try not to. If your payment is $2,000 a month, four years of no payments is $96,000!! 2. Increase […]

1. Make a double mortgage payment whenever you can. Doing this once a year can shave over 4 years off the mortgage! Sometimes you can skip a payment later on too…if you really, really need to. Try not to. If your payment is $2,000 a month, four years of no payments is $96,000!! 2. Increase […]

It’s that time of year again when property taxes are coming due. Did you know that the average homeowner saves $570.00 with the home owners grant? On the bottom of your property taxes you will notice a section called “Home Owner Grant Application”. Make sure you take the time to fill that out! Below is […]

It’s that time of year again when property taxes are coming due. Did you know that the average homeowner saves $570.00 with the home owners grant? On the bottom of your property taxes you will notice a section called “Home Owner Grant Application”. Make sure you take the time to fill that out! Below is […]

Your Credit scores are like report cards for grown‐ups. The score you get ranges from 300 to 900. Your score indicates your creditworthiness to potential lenders, banks, landlords, insurance companies, and even to some employers. The higher your score the better. 1. GET A COPY OF YOUR CREDIT REPORT Make an inquiry once a year, […]