How Rent-to-Own Works : Explaining the Pros and Cons

Homeownership isn’t the ideal option for everyone. It is completely dependent on one’s situation; whether it be your financial situation, employment situation, or you are new to Canada. Other hindrances that may affect this decision are a recent divorce, filing bankruptcy, etc. Don’t feel as though you are at completely dead end in terms of …

All About Joint Mortgages: Can Multiple Parties Obtain a Mortgage Together?

 With homeownership being quite costly and getting more expensive as time goes on, the choice to get a joint mortgage is increasingly becoming a viable option to people. A joint mortgage is a mortgage you can take out with another individual or multiple individuals. Commonly, a joint mortgage occurs when you are taking out a …

To Downsize or Not Downsize: The Advantages and Disadvantages

    Downsizing is a choice for people that want to swap out their home for something that is more manageable or smaller. The primary reason most people downsize is to save money. It is quite advantageous to downsize as you have increased cash flow, lower utility bills, reduced consumption, and minimized stress.   Living …

The More You Save, The Better Your Options Will Be

  Saving for a Mortgage Down Payment   As overwhelming as it may feel having to save for a down payment for a home, you can ease the stress and burden you may feel if you take the essential steps to feel financially secure. A few small changes to your budget plan is a great …

Evaluating a Neighborhood: Finding a Profitable Investment Property

Researching and conducting a detailed evaluation into a property you are opting to invest in is essential. A market analysis should be centered not only on the neighborhood but of the city. The overall housing market could be performing exceptionally but the specific neighborhood you are looking at is doing poorly.   A multitude of …

Private Mortgage Lenders: Criteria, Specialization and Why You Should Be Interested

Many individuals have been excluded from getting a mortgage by strict lending guidelines that are used regularly by a multitude of lenders and banks. Private mortgages are a type of a mortgage loan whereby funds can be sourced from different kinds of institutions rather than borrowing from a bank. Typically short-term in length – for …

Taking out a Mortgage Instead of Buying a Property in Cash

  Though purchasing a property outright with cash may seem like a good idea, there are plenty of reasons why getting a mortgage may be the fiscally smart thing to do. Tying yourself up to a real estate transaction may limit you down the road if other options or needs arise. For instance, if the …
This past year has been quite challenging for the community as the pandemic has left a lot of people feeling quite uncertain about their sense of financial security. Now is the time to budget and save your earnings efficiently. Implementing a financial plan is a great start In order to set yourself up for the …

Bank of Canada Rate Update During The Covid-19 Pandemic

Yesterday the Bank of Canada stated they would continue the overnight rate of 0.25%. The current Bank of Canada rate corresponding 1/2 percent and the deposit rate is a quarter percent. This is also known as a short term liquidly program resulting in a higher functioning market. The intended effect will be reduced market strains. …
mortgage brokers

How Mortgage Broker Makes Your Work Easy

When thinking of buying home in Canada; it can quite expensive. Thus, before spending lump of money go for other options as well. For example, it is better to choose a mortgage. Mortgage, in basic terms, is a loan taken as opposed to a home. It is a loan agreement in which, the borrower, if …