Tag: toronto
How to boost your down payment with shared equity programs
Leveraging shared equity programs to boost your down payment Dreaming of owning a home but finding saving enough for the down payment to be daunting? Here’s a bit of good news: you may be able to make your homeownership fantasy a reality sooner, with the help of shared equity programs. Here are some pros and […]
Mortgage after bankruptcy – how to get a fair deal
How to get a fair mortgage deal after bankruptcy Buying a home is a significant milestone, and it can feel daunting, especially after going through bankruptcy. However, owning a home after bankruptcy is achievable with careful planning and a proactive approach to securing a mortgage. In Canada, there are specific steps and strategies to help […]
Private mortgage lenders: how to use them successfully
If your mortgage broker suggests a private lender mortgage, you’ll probably have many questions. That’s a good thing! In order to use private lenders successfully, you need to make sure you understand how this choice will work for you. Just as importantly, you need a plan for how you’ll move on and replace the private […]
Seniors and reverse mortgages: unlocking your home’s value
Aging in place with confidence: how reverse mortgages can benefit you If you’ve reached that point in life where you’re thinking about the years ahead and what you want them to look like, your financial plan plays a big part in the options available to you. The idea of ‘aging in place’ – staying in […]
How to buy your first home by 29
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 […]
How using a mortgage broker reduces your rate by 17.5 basis points
Mortgage brokers drive mortgage rates down A 2011 Bank of Canada study said that “the average impact of a mortgage broker is to reduce rates by 17.5 basis points.” In fact, controlling for certain variables such as borrower income, they actually found that “borrowers using a broker got a discount of approximately 32 basis points.” (See the […]
Mortgage rates going up: the Trump effect
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 […]
Going, going, gone! [New mortgage rules and conventional mortgages]
Down payment of 20% plus? New mortgage rules that affect you With all the media hubbub recently, you probably know that the Canadian finance minister announced stringent new mortgage rules on October 3, 2016. If you are looking to buy a new home or refinance, you maybe be affected, even if you have 20% down or […]
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