Search Results for 'credit'

Understanding mortgage rates

August 9, 2018 | By | Add a Comment

This is why mortgage rates are suddenly way more complicated If you’ve been shopping for a mortgage lately, you’ll have noticed that rates can be all over the map. That’s because new mortgage rules have made the mortgage pricing matrix is much more complicated, and online mortgage quotes are less reliable. That’s why it’s important […]

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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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The numbers

March 6, 2018 | By

What’s your home buying budget? Buying your first home will require a fair bit of number crunching. How much can you afford? Do you know what the maximum sticker price is for your new home?  In other words: what is your home buying budget? Yes, budgeting is a four-letter word Ugh…  As much as you might […]

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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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Stress test yourself!

November 13, 2017 | By | Add a Comment

Do your own personal stress test There’s been a lot of freaking out about the latest rendition of the mortgage stress test (even from me, I admit it!). These days, there’s no purchasing power boost if you put more than 20% toward your home purchase rather than 5%. That’s because everyone putting more than 20% down […]

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New mortgage stress test for 2018 – why you might want to buy or refinance *now*

October 20, 2017 | By | 2 Comments

Purchase – or refinance – before the rules change in January If you’re looking to buy with a down payment of more than 20 percent, or if you’re considering refinancing, then you might want to do so before January 1st.  Why?  On October 17, the Office of the Superintendent of Financial Institutions (OSFI) released new […]

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Difficulty making mortgage payments?

September 19, 2017 | By | Add a Comment

Many factors can make it hard to make your mortgage payments Sometimes unforeseen financial circumstances can result in your having difficulty making mortgage payments.  Or perhaps your financial stress results from taking on too much other high-interest debt. It can be tempting to want to conceal your debt problem for as long as possible. But […]

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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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