Home / Mortgages / ‘Business for self’ clients are on the rise. How do you secure a mortgage for one? + MORE Feb 24th

‘Business for self’ clients are on the rise. How do you secure a mortgage for one? + MORE Feb 24th

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News

Mortgage Digest: Younger homeowners lead the way in paying down mortgage debt Jan 26th

Younger Canadians are outpacing older demographics in reducing their mortgage debt, new research from Statistic Canada has found..... More »
property

Buying a second home: How it works in Canada + MORE Sep 25th

What does it take to buy a second home in Canada? There’s a lot to consider, from figuring out whether you can afford to buy a second property (and whether it’s worth it) to navigating the down payment requirements and mortgage rules. To help you get started, we’ve answered these questions and.... More »
bank mortgage

TD launches agentic AI for mortgage and HELOC applications + MORE May 24th

The bank says its first autonomous AI model is already reducing parts of the pre-adjudication process from an average of 15 hours to less than three minutes..... More »
bank mortgage

Inside RBC’s acquisition of mortgage fintech Pinch Financial Mar 13th

The Toronto fintech will gain access to RBC’s infrastructure and 17 million clients, but says its platform will remain open to non-RBC partners..... More »

CIBC sees “no areas of concern” as 100,000 mortgage clients renewed at higher rates so far this year + MORE Sep 14th

CIBC reports that its mortgage clients are so far managing to absorb the payment shocks as their mortgages come up for renewal at higher rates..... More »
Ask MoneySense
I have $119,000 room allowed in my RRSP and $81,000 room in my TFSA.

I am 47, live in B.C., currently not earning income as a caregiver for a parent. I have a business with a registered GST number to claim income now or in the future. But for my question, let’s assume I will be claiming $0 for the next three years. 

I have a sum of $250,000 coming to me as a gift, and I am looking to invest/save it. 

I plan to use the portions not contributed into my TFSA and RRSP in investments that will be earning interest as income—likely mortgage investments.

Based on my income projections, what amount makes the most sense to invest into RRSPs at this time? 

Should I spread the amount out over a period of time? Same question for TFSA. 

—Jennifer 

Maxing out registered accounts: TFSAs and RRSPs

Jennifer, you likely want to maximize your tax-free savings account (TFSA), skip the registered retirement savings plan (RRSP) for now, and put the rest of your money into a non-registered account…

Continue Reading On moneysense.ca »

Roughly 2.9 million Canadians were self-employed in 2018, according to Statistics Canada, and many of them are keen to buy a home.

Continue Reading On canadianmortgagetrends.com »

On the surface, the Consumer Price Index data for January looks like inflation has finally been defeated. But soaring food prices and mortgage interest costs are continuing to take a bite out of household finances.

Continue Reading On canadianmortgagetrends.com »

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