House rich: How to access the equity in your home Nov 16th

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News

Romy Bowers Named New CMHC CEO as Outgoing Evan Siddall Addresses Off-the-Mark Forecasts + MORE Mar 5th

The Canada Mortgage and Housing Corporation has named its new CEO, capping what has been an extended search to replace outgoing chief Evan Siddall. Romy Bowers, CMHC’s current Vice President of Client Solutions, will succeed Siddall and officially begin her five-year term starting April 6. .... More »
 mortgage buyout

Because not everyone fits into the same box Dec 11th

You might have seen the headline “HSBC crushes mortgage records with 0.99% variable rate”. No doubt about it, this is a great rate. However, it’s not for everybody. It is important to remember, like most deals, there are some restrictions. Among other things this offering is li.... More »

Interest Rates to Stay As-is for Now. But When Will They Rise Again? May 4th

The Bank of Canada governor, Till Macklem, made no change to interest rates on April 21st, the 3rd of 8 annual meetings dates. This comes as no surprise, though, There wasn’t a chance of an interest rate hike anyway. You can read more on this here . When Might We See Interest .... More »
 mortgage penalties

This 34-year-old hospital worker has three kids and a mortgage to pay off. Making $104,000 a year, he wants to save $50K each for his kids. How can he start? Dec 23rd

Mel would also like to save enough for retirement, at least $1 million each for him and his wife, and also purchase a second real estate property to rent out..... More »
With the national average home price up a record 18.5% in August 2020 compared to the same time last year, more Canadians than ever have a significant portion of their wealth tied up in their homes.
Who are these “house rich” homeowners? They range widely—from retirees on a fixed income, to baby boomers who’d like to help their adult kids financially, to young parents struggling to save due to the high cost of living and childcare.
Many are now looking at ways to access the  equity in their homes. These include refinancing their traditional mortgage, obtaining a home equity line of credit (HELOC) or getting a reverse mortgage. But how can you determine which option is best for you? To help you decide, we’ve outlined four common scenarios of house-rich homeowners, and how—or if—they should go about tapping into the equity in their properties.
Scenario 1: Pensioners who need to increase cash flow
While lucky enough to have company pensions, these retirees underestimated their post-work cash-flow needs…

Continue Reading On »


Compare insurance quotes through - save time and money!