Category Archives: Articles

Mortgage Rule Changes Reflect Economic Worries

Jim Flaherty’s recently announced changes to mortgage rules reflect his views on where the economy and interest rates are going. If your view is that interest rates are going to rise, and that rising interest rates will cause problems for Canadians who are carrying too much debt, then the changes to the mortgage rules make sense. Flaherty has given CMHC new rules about which mortgages they can insure. Gone are … Read More

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Property Virgins

Home buying is a daunting task for people who have been through the process before. If you are a property virgin the learning curve can look like Mount Everest. But if you start at the beginning, and take it step by step, before you know it you’ll be schlepping boxes into your new house. Round up your cash. As a new buyer, you will need a minimum of 5% of … Read More

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Pay Down Your Mortgage Faster

Everyone who has a mortgage wishes they didn’t. They’re just waiting for the day that their mortgage is paid off and they are living home free. Most mortgages in Canada are between 25 and 35 years long, but here are 5 tips that you can use to pay off your mortgage faster; Pay bi-weekly instead of monthly. A monthly payment equals 12 payments per year. If you divide your payment … Read More

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It’s Not All About Money

Well – actually it is – sort of… When we go looking for a mortgage everyone wants to talk to us about interest rates, but there are a number of other things to consider besides interest rates before you sign on the dotted line. The first thing you want to discuss with your mortgage lender is your amortization, or the length of your mortgage. How many years you take to … Read More

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First Time Homebuyers Save Thousands

Eligible first time homebuyers in Ontario can claim a number of tax rebates which could add up to thousands of dollars in your pocket. Eligible means – you and or your spouse (partner), who are over 18, have never owned a home before anywhere in the world, and must move into the home within the first nine months after you buy it. If you have never owned a home before, … Read More

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