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
Making sense of the markets this week: March 24, 2024 + MORE Mar 25th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Lower inflation clears runway for rate cuts
Canadians dreading their spring and summer mortgage renewals got some good n.... More »
The latest in mortgage news: OSFI has no plans to loosen the stress test Sep 17th
Despite today's mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canada's banking regulator said no changes to the stress test are imminent..... More »
How to find room to save in 2026—even with tight budgets Jan 11th
Saving more in 2026 is a common new year’s resolution, but with budgets tight and inflation driving the cost of groceries and everyday necessities higher, it’s easier said than done. Financial planning experts say it takes a careful review of where you’re spending to find ways to s.... More »
One quarter of TD mortgages now have an amortization of 35+ years + MORE Dec 4th
Over a quarter of TD Bank's residential mortgage portfolio now has an effective amortization of 35 years or longer..... More »
Mortgage Career: Invis and Mortgage Intelligence + MORE Jul 14th
Company: Invis and Mortgage Intelligence Position: Jr. Compliance Officer Location: Mississauga, ON Apply to: hr@invismi.ca Manager, Marketing Be Bold! National brokerage firms Invis and Mortgage Intelligence are the professional home for mortgage brokers adhering to the highest industry standards.... More »
Down payment verification… a quick checklist to ensure your purchase goes smoothly.
– canadamortgagenews.ca
What you need to know about your downpayment. You’ve got your downpayment and you’re ready to go. Congratulations! Soon, you’ll need to verify that downpayment for your mortgage approval. It’s required by all lenders to protect against fraud and to prove that you are not borrowing your downpayment, which changes your lending ratios and potential […]
New 2nd mortgage options at 3.50% with no legal fee or appraisal fee!
– canadamortgagenews.ca
I’m reposting this article due to the tremendous response and numerous inquiries.. We recently came across a lender that is offering an unheard of offer. Secured lines of credit in 2nd position at Prime plus 0.50%. That’s 3.50% today! We haven’t seen this sort of offer in quite a while for 2nd […]
Is Your Credit Score Mortgage Ready?
– ratesupermarket.ca
May and June are the busiest months for real estate in Canada – and that means home buyers are currently out in full force. It also means many prospective buyers are visiting their lenders, and asking for mortgage financing for their new dream home purchase. However, a new BMO study finds they may be in for a surprise – more than half of Canadians haven’t checked their score prior to their application, and may be blindsided by their credit standing. As banks base their decision on how much money you’ll receive on your credit score and report, some buyers may find they don’t make the credit-worthiness cut.
Here are a few tips for avoiding credit score disappointment when applying for your mortgage.
Also read: Is Closing a Credit Card Bad For Your Credit Score?>
Start Planning Early
It may be too late for the buyers already knocking on bank doors – but for those considering buying a home in the near future, it’s smart to start investigating your credit situation now, and ways to improve it…
Passing your cottage to the kids? Prepare for big tax bills
– moneysense.ca
(Getty Images)Sitting by the lake and watching the grandchildren cannonball off the dock might be the dream of many cottage-owning baby boomers.
But handing down the cottage to those grandkids so that they might one day do the same can trigger big tax bills that could force the sale of the property.
A lakefront cottage purchased for a few thousand dollars decades ago may now be worth hundreds of thousands, perhaps even more. And while you can’t avoid the tax bill, there are ways to make it more manageable.
Mike Laughton, a financial planner at Royal Bank, says one option is to sell or gift the property to your children today.
While that triggers a tax bill now, it puts any future capital gains in the childrens’ hands.
“The sooner you can get it into the beneficiaries’ names, the less future tax liability you’re going to incur upon yourself,” Laughton says.
You can even structure the sale so that you loan the money to your children to buy the property from you. By holding the mortgage, you will be able to spread the capital gains and the associated tax bill over five years and you can forgive the debt in your will if you’re feeling generous…
