If you have bad credit, you know that you are in a tight spot - especially if you are looking for a mortgage. However, even with what often feels like mounting financial woes and credit agencies calling your daily, there is a light at the end of the tunnel. And, believe it, or not that [...]
There are a number of ways that you can save for a downpayment on a home. But which ones actually work? Here we have put together a list of things that you can do that are proven to be effective in helping you to save for a downpayment on a home. While we focus on [...]
Canadian’s who are looking to enter the real estate market has been through a lot. Between sky-high prices and what feels like never-ending bidding wars in most markets, it is no surprise that many potential buyers have delayed taking the leap. And now, they face another dilemma: whether or not they should consider buying when [...]
Canadian Mortgage Stress Test to Become More Lenient For the first time since the federal government implemented the new stress test rules on Canadian home loans, the standards have been lowered. In other words, a potential homebuyer could be approved for a bigger mortgage today than what they would have been yesterday. Since the [...]
How Home Equity Can Be Used to Payoff CRA Debt It is not unusual to learn that you owe some money to the Canada Revenue Agency (CRA) after you file your personal tax returns. This is especially true if you have neglected to do them for a year or two. Like any other unexpected [...]
Mortgage Insurance in Canada Mortgage insurance is a kind of insurance that was developed to compensate financial institutions or investors should a homeowner default on their loan. It is required for any mortgage where the downpayment is less than 20%. Whether the mortgage insurance is public or private will depend on the institution that [...]
With the recent release of the 2019 federal budget, many Canadian’s were surprised to find out that the liberal government is making it easier for homeowners to purchase their first home. They are doing this by increasing the amount that buyers can borrow from their retirement savings to put towards their down payment - should [...]
Mortgage insurance is a kind of insurance that was developed to compensate financial institutions or investors should a homeowner default on their loan. It is required for any mortgage where the downpayment is less than 20%. Whether the mortgage insurance is public or private will depend on the institution that lends the funds. Where Can [...]
What Canadian’s Should Know About Debt Consolidation and Refinancing For a lot of Canadian’s today, one of the biggest hurdles to financial security is paying off their debt. Unfortunately, because of how easily we can acquire debt - credit cards, lines of credit, auto loans, home equity loans - for many this task feels [...]
Toronto’s Effort to Increase Affordable Housing in 2019 For years, the city of Toronto has been known as one of, if not the most expensive places to purchase a home in the entire country. However, recently, city officials have taken steps to help increase the number of affordable homes in the city. This was [...]