Could your home be an income property?
Income / Rates & Terms / Rental Properties / Variable Interest Rates

Could your home be an income property?

With more houses for sale and many homeowners conscious of their current equity position, renting out your property may make sense. Although glamorized on shows like HGTV’s ‘Income Property’, there are a number of factors to take into consideration when making the decision to rent out your home or a secondary property. Take a look at … Continue reading

Should I renew my mortgage early?
Credit / Debts / Documents / Income / Lenders / Mortgage Renewal / Qualifying / Rates & Terms

Should I renew my mortgage early?

The quick answer is, it depends on why. If you plan on staying with the same lender and you’re worried rates will be higher when your actual renewal date is here, then yes- renew your mortgage early. BUT, before you do that, ensure you’re aware of the other options available to you. Not shopping around … Continue reading

4 Important questions to ask before applying for a mortgage
Credit / Debts / Documents / Downpayment / Income / New to Canada / Purchase / Qualifying

4 Important questions to ask before applying for a mortgage

A mortgage professional can guide you along the road to financing approval, but it’s up to the borrower to provide directions on the way. What I mean by that is a mortgage professional cannot make the decisions for you, we’re not the ones making the payments. On that note, I believe an educated borrower is … Continue reading

How to successfully sell & buy a home at the same time
Downpayment / Lenders / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties / Rules

How to successfully sell & buy a home at the same time

Tips for smoothly navigating two home transactions simultaneously You own a home now, but it’s time to make a change. If you’re moving up or downsizing, you probably have questions about how it all works. That is, the logistics of buying another home while you still own your existing property. Here are 10 facts you need … Continue reading

Can I get a mortgage without credit?
Bankruptcy / Credit / Debts / Documents / Downpayment / Lenders / Purchase / Refinance

Can I get a mortgage without credit?

Qualifying for a mortgage should not be too complicated and this week I want to cover a few reasons why a lender could decline a mortgage application. If only one of the below items applies, it’s very likely you can still get a mortgage, however, if your financial profile fits under more than two of … Continue reading

How to increase home equity
Lenders / Mortgage Renewal / Pre-Payment / Rates & Terms / Refinance

How to increase home equity

Maximizing pre-payment privileges Making a decision to focus on quicker mortgage repayment not only saves you thousands in interest costs, it also allows you to greatly reduce your mortgage balance which ultimately increases the home equity. A lower mortgage balance owing is also a positive if rates have increase significantly by your renewal date, the lower … Continue reading