MORTGAGE 101: Understanding Different Mortgage Options + MORE Mar 27th

Interested in learning more about property mortgages in Canada? Look no further!
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Should You Apply For a Loan or Line of Credit? Apr 8th

Banks offer a variety of products to give you access to cash. But is every borrowing option the same? If you’re weighing the alternatives, you may struggle with the choice between a loan and line of credit. Only you can decide what’s best for you, but there are some factors to consider..... More »

Construction Mortgages: What They Are and How to Get One + MORE Apr 24th

Needless to say, building your dream home involves a lot more work as opposed to buying a ready-build – it’s more than just drawing floor plans and picking out counter finishes. Buying a piece of land and constructing your own home from scratch also requires you to get a different type of mortg.... More »
 line of credit

Taking on a “Fraction” of the Cost; Vancouver Start-Up Promises a Better Incentive for Home Buyers than CMHC + MORE Apr 2nd

An incentive for first-time home buyers offered through the Canadian Mortgage Housing Corporation (CMHC) was only announced a week ago, promising to provide $1.25 billion over three years to help lower mortgage costs for eligible Canadians. However, a new company is now also promising to provide an.... More »
 home equity

CMHC Makes Dividend Payments to Government: What are They and Who do They Help? + MORE Apr 5th

  Starting in 2017, the Canada Mortgage and Housing Corporation (CMHC) has been making both special and regular dividend payments to its shareholder, the Government of Canada. The largest sum was for $4-billion in June 2017, which was spread over two years. At that time they announced the impl.... More »

Impacts of the Stress Test


There’s been a lot of talk about the government’s mortgage stress test recently—particularly since it was left untouched in last week’s federal budget, despite high expectations of at least some tweaks. But a recent report from Teranet shows some of the tangible impacts the stress test has had on the mortgage market, namely that Canada’s […]

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MORTGAGE 101: Understanding Different Mortgage Options
To new buyers, the real estate market can appear intimidating with jargon like amortization, mortgage insurance, fixed vs variable and so on.
Here are some of the key terms and mortgage types you’ll encounter when shopping for your home loan.
What is a Mortgage?
A mortgage is a loan offered by financial institutions to make the process of owning a real estate property feasible. Interest is charged on the Principal amount and each mortgage payment consists of repayment of the principal, plus some of the interest.
In Canada, potential home buyers pay at least five percent of the total cost of the house upfront.
Now let’s explore the different types of mortgages that the Canadian market holds:

High Ratio Mortgage: Refers to the loan to value ratio of the loan. If you pay less than 20 percent of the property cost as a down payment the loan has a high LVR. In this instance, it is mandatory to attain Mortgage Insurance, also referred to as CMHC (Canadian Mortgage and Housing Corporation) Insurance…

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Why are We Being Poorly Advised Against Homeownership?
Something strange has been going on over the past decade. We’re often being told – and, in many cases, convinced – that it’s better to rent than to own.
I firmly believe everyone should own their home. In fact, I think we should own at least one investment property… and, in many cases, more than one, but I’ll get to that in a minute…
I can understand why many people, particularly Millennials, are believing it’s better to rent than own. After all, it’s easier to rent. Just look online for a condo or house for rent. Apply, sign the lease and you’re done. We’ll call this the Convenience factor.

Compare this with buying. You need to find a home, negotiate the price, get a lawyer to check out the property, have a home inspection, and then apply and qualify for a mortgage (which is a little harder now thanks to all the wonderful Federal government mortgage rule interference – I mean tightening. Uh, no, I mean changes – so we don’t take on too much debt)…

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