Buying a Pre-Sale Home   With pre-sales if you find a place and write an offer the process is very much similar to buying an existing property except the paperwork and the terms in the contract are a bit different. All pre-sale contracts come with a Recission Period of 7 days. This is like the […]

Post Bankruptcy or Consumer Proposal (CP)      Bad things happen to good people all the time, and bankruptcy or consumer proposal is no longer viewed the same negative way by lending institutions as it once was. If at some point you had no choice but to claim bankruptcy or opted for a consumer proposal, that […]

Converting Your Basement to an Income Suite. With the current interest rates and economic scenarios, many Canadians may be looking for ways to bring in some extra cash. One option for this is to put your home equity to work and consider renovating your basement into a legal income suite! You can do this by […]

It’s Time to Crush Your Credit Card Blues. Although credit cards interest rates have not been affected by the recent surge in the prime lending rate, the fact remains that credit card debt is usually the most expensive debt you can have. The average is around 20% and even the so-called ‘low interest’ cards carry […]

Debt Reduction Key as Interest Rates Soar. There are lots of reasons people fall into debt but only one way out — and it requires a combination of planning, discipline, and persistence. With the rise in interest rates, there is no better time to map out an action plan to reduce your debt. Start by […]

Strata Insurance: The Importance of Deductible Coverage. Strata insurance has been steadily rising across Canada, but many homeowners are unaware of changes to their policies. In some areas, deductibles are doubling (or even tripling!), which can result in extremely high costs if you are not updating your individual policy. To ensure that you remain up-to-date […]

Understanding Mortgage Rates. While not the only factor to look at when choosing a mortgage, interest rates continue to be one of the more prominent decision criteria with any mortgage product. Understanding how mortgage rates are determined and the differences between your typical fixed-rate and variable-rate options can help you make the best decision to […]

Don’t Be House Poor. Having the biggest and best home on the block sounds great – but not if it is at the expense of your life and monthly finances! Be smart about your budget and avoid buying a home at the very top of your pre-approval value, which might lead to cash flow issues […]

How Job Loss Affects Your Mortgage Application. Whether you’ve made an offer on a home already or are still in the process of looking, you already understand that buying a home is likely the largest investment you’ll ever make. When it comes to your mortgage application, there are a few things that you should avoid […]

The Bond Market and Fixed Mortgage Rates We have all heard about the Bank of Canada’s (BoC) aggressive increase in their overnight, rate but many people don’t realize that those hikes affect Variable Rate mortgages and unsecured debt. There is a vast difference in the way Fixed Rate mortgages are determined. Banks buy bonds from […]