Building a Solid Credit History in Canada: A Guide for Newcomers
Building a Solid Credit History in Canada: A Guide for Newcomers If you’re new to Canada, you might not be too familiar with credit, credit cards, or how your credit history works here. Understanding how credit operates can make it easier to handle your daily expenses and set you up for a stronger financial future […]
Top 10 Mistakes to Avoid as a First-time Home Buyer
Top 10 Mistakes to Avoid as a First-time Home Buyer Are you searching for a home with your kids? Do you find yourself falling for the staged furniture? Here’s what to watch out for when house hunting. 1. Getting captivated by staged homes If you’re thinking about buying your first home, doing some research is […]
How to Know How Much Home You Can Afford
How to Know How Much Home You Can Afford Before you begin your home search, it’s crucial to determine your budget to avoid wasting time on properties beyond your financial reach. Knowing your limits helps prevent disappointment when you view homes that are more affordable. To gauge what you can afford, consider the following factors: […]
How to Borrow Against Home Equity in Canada
How to Borrow Against Home Equity in Canada Life can be unpredictable, and there are moments when you might suddenly need extra funds right away. Whether it’s covering medical bills, paying for tuition, handling urgent home repairs, or consolidating debt, you have options. One effective way to access the cash you need is by leveraging […]
Should You Co-Sign A Mortgage?
Should You Co-Sign A Mortgage? Sometimes, not everyone meets a bank’s rules for getting a mortgage. When people can’t qualify on their own, they might ask someone with better finances to co-sign their mortgage. This means they use the other person’s good credit to help them qualify. Co-signing a mortgage can be a helpful strategy […]
How B Lenders Can Help You Get A Mortgage in Canada
How B Lenders Can Help You Get A Mortgage in Canada If a bank or credit union denies your application for a prime mortgage, you still have alternative financing options. Many homebuyers in this situation turn to B lenders, with more flexible approval criteria than major banks and other “A lenders.” Homeowners seeking to refinance […]
Preparing for Mortgage Renewal In Canada: 8 Essential Tips
Preparing for Mortgage Renewal In Canada: 8 Essential Tips Is your mortgage term ending soon? If you’re not ready to pay off everything you owe, you’ll have to renew your mortgage, refinance, or change lenders. Since renewing your mortgage involves signing a new contract, it’s essential to be ready with the correct information to make […]
Reverse Mortgage in Canada: Is It Right For You?
Reverse Mortgage in Canada: Is It Right For You? If you’re 55 or older and own a home in Canada, a reverse mortgage might interest you. With this, you can get up to 55% of your home’s current value as cash without having to sell or refinance your house. Reverse mortgages have become quite popular […]
Early Mortgage Renewal: How Does it Work and What Are the Pros and Cons?
Early Mortgage Renewal: How Does it Work and What Are the Pros and Cons? Many Canadians renew their mortgage more than once before finishing paying it. When they renew, it depends on how long their mortgage lasts, which could be a few months or even over 5 years. You might have heard about people renewing […]
Does Owning n Investment Property Disqualify You from the First-Time Homebuyer Incentive in Canada?
Does Owning an Investment Property Disqualify You from the First-Time Homebuyer Incentive in Canada? I have encountered this question several times: does owning an investment property disqualify you from the First-Time Homebuyer Incentive in Canada? The straightforward answer is no. The First-Time Home Buyer Incentive (FTHBI) offers a valuable opportunity for Canadians to enter the […]