As a self-employed person myself I was happy to hear that CMHC is willing to make some changes that will make it easier for us to qualify for a mortgage. In an announcement on July 19, 2018 CMHC has said “Self-employed Canadians represent a significant part of the Canadian workforce. These policy changes respond to […]

We are in a rising interest rate environment and it would be wise to consider where you are in your current term and where rates may land at maturity. What are the implications of refinancing now for a better rate?  If you are 3-4 years into a 5-year mortgage term you still have 1-2 years left. […]

So, you’ve decided to jump into the real estate market – good for you! It will be extremely beneficial to start paying your own mortgage instead of a landlord’s. If this is your first home purchase there are some definite advantages available to you. There is a national program called the Home Buyer Plan where […]

The Simple Truth About Your Debt-Service Ratio (DSR) If you want to borrow money there is a simple way that banks determine if you can afford it. How much of your annual income can comfortably make the payments on what you owe to creditors? Simple, right? The rule of thumb for unsecured debt (credit cards, […]

Yesterday I was enjoying the magic of the Super Bowl with friends in the comfort of my own living room and it occurred to me how privileged I am to have a place I can call home. I have been a homeowner for years and am so happy not to have to answer to a […]

The mortgage market is still adjusting to the new rules that came into effect on January 1, 2018. With all borrowers now having to qualify at the Bank of Canada Benchmark Rate (currently 5.14%) or the contract rate plus 2% regardless of how much down payment they have, we are seeing a drop of about […]

A recent article featured on www.mortgagebrokernews.ca brings up some interesting points to consider. With approximately 47% of mortgages in Canada coming up for renewal in 2018 and in a rising rate climate it would be wise to consider the impact on our personal mortgage. What will these increases mean for you? 70% of Canadians are […]