The History Of The Mortgage Industry In Ontario Obtaining a mortgage is, and has long been, the most conventional way to join the housing market. While the objective of these loans has remained unchanged, they have progressed from a simple repayment arrangement to a far more intricate financial transaction. Prior to what we now know …
Key Steps To Boost Your Retirement Savings Finances can be challenging to balance, particularly if you have a low income, or are having problems affording your obligations. It’s easy to become overwhelmed when it comes to making your retirement plan. It’s never too early to start putting money aside for your retirement. Regardless of your age, …
  The Bank of Canada Increases Interest Rate The Bank of Canada has announced April 13th that it has raised the overnight rate by .50% to 1.00% to help curb worsening inflation. The Bank will also stop reinvesting and start quantitative tightening starting April 25th. Maturing Government of Canada bonds will no longer be replaced, …

How Can You Contact Your Mortgage Agent & Broker?

  Different Ways To Speak With Your Mortgage Lender These days, we now rely on our devices more than anything. Luckily, because of this, we do not necessarily need to see the client in person. This has benefited us tremendously in the last 2 years where it has been extremely difficult to have meeting in …
  Understanding Your Debt Ratios When determining the mortgage amount you qualify for, lenders look at two ratios that reflect how much you can afford. These ratios are known as Gross Debt Service (GDS) ratio and Total Debt Service (TDS) ratio. These ratios take into consideration your capability of being able to repay the mortgage …
The 50/30/20 Rule Have you ever had difficulties creating and sticking to a personal budget? Thankfully, there are several rules of thumb when it comes to personal finance. Budgeting is a practical and an informative method of determining your spending boundaries. It is also important to keep in mind for you to stay within your …
How To Create A Budget For The Holidays With the holiday season right around the corner, comes the holiday shopping and high credit card statements. Why not rely on a budget to keep your finances on track this season? It is always best to plan ahead as much as you possibly can when it comes …
What You Should Look Out For Home inspections provide an opportunity for a buyer to identify any major issues with a home before closing. The most important reason to have a home inspection is to see if there are any major concerns of the structure of the home as they can be very costly. Home …

Can You Use Your Investments As A Down Payment?

What Makes Up Your Mortgage Payment? For many homebuyers, scraping up a down payment take years of penny-pinching, but not for everyone. Many buyers have used a down payment from a sale of previous home or investments. A lot of people choose to use their TFSA, Mutual Funds, RRSP's, Stocks and Bonds. Each option depends …
What Makes Up Your Mortgage Payment? Purchasing a home is a dream for everyone and understanding your mortgage payments will help you in keeping on track and pay down your mortgage in less time. Your mortgage payments are made up of principal payments and interest payments. The principal payments go directly to pay off your …