Search Results for 'pre-approval'

Pre-approvals made simple

March 24, 2017 | By | Add a Comment

The ins and outs of mortgage pre-approvals When you’re house hunting, it’s important to know the amount of mortgage you qualify for, your monthly payments, and that your interest rate will be held for a specified period of time i.e. 120 days.  Getting a mortgage pre-approval ensures that you can shop within your price range, […]

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The down payment

April 4, 2018 | By | Add a Comment

So you’ve decided you’re ready to buy a home… but what about the down payment? How much will you need? Is there any hope of saving up enough? Finding the funds for a down payment – yes, even in today’s market – may be well within your reach. And it may not take as long […]

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How to buy your first home by 29

February 26, 2018 | By | 3 Comments

What’s the rush?  The financial “why” HSBC did an interesting study in the UK in 2014.  It suggested that if you buy your first home by 29, you create a positive cycle that not only benefits your own financial situation, but that of your future children as well.  Buying early gives enough of a boost that you […]

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“Conditional on financing”: the most important part of your offer

January 22, 2018 | By | 1 Comment

“Conditional on financing” – do I need this? When you find the condo or house of your dreams, and want to make an offer to purchase it, do you need a financing condition? Unless you can pay cash for the home, then yes, you do. That little phrase, “conditional on financing”, is important protection for […]

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After the rate hike…what’s next?

August 8, 2017 | By | Add a Comment

On July 12th, for the first time in seven years, the Bank of Canada increased the overnight rate by .25%, withdrawing some of the stimulus that was needed after the oil price collapse and 2008 financial crisis. Variable rate mortgages and lines of credit will see higher rates and modest payment increases. Fixed-rate mortgages – […]

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Mortgage rates going up: the Trump effect

November 14, 2016 | By | 2 Comments

Lenders advise: mortgage rates going up We’ve just received several notifications of mortgage rates going up, imminently.  Rob Carrick’s latest article in the Globe and Mail highlights the impact of the U.S. election on bond rates. “Mr. Trump’s plan is to stimulate the slow-growing U.S. economy by spending big on infrastructure, and that has financial markets worrying […]

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Want to avoid homebuying mistakes?

February 8, 2016 | By | Add a Comment

Set yourself up for homebuying success Buying a new home soon – say in the next year or two?  It’s a very exciting time!   Even if you’re not a first-time homebuyer, you might have heard that mortgage rules have changed since the last time you bought.  I’m sure you want to avoid the top homebuying […]

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Single and want to buy your first home?

January 25, 2016 | By | 4 Comments

Here’s what you need to know One of the fastest growing trends in Canada is single people buying their first home on their own, rather than waiting for a partner.  According to CMHC, in 2011 a full 42% of owner-occupied condos housed singletons, and single person households are expected to continue growing. Are you wondering if […]

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