First-Time Buyer
Can I get a Mortgage after a Consumer Proposal?
You’ve had to enter into a consumer proposal, but now you may be asking yourself, how does this impact my home financing options?
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First-Time Buyer
Credit Bureau Reports
Whether you are getting your first mortgage, refinancing an existing mortgage, or getting a new mortgage on a new property, your credit score is a very important factor in your application!
That’s why it is important to know what your credit score is, and how you get, and keep, a good credit score!
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Equity Take-Out
Fixed vs. Variable Rate
Choosing between taking a fixed rate or variable rate mortgage option is a decision every mortgage holder must make!
This decision requires multiple factors to be taken into consideration. Below I will outline some of the things a borrower should consider before choosing which type of mortgage term is right for them.
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First-Time Buyer
New First Time Home Buyer Incentive
The current Liberal government has introduced a new First Time Home Buyer (FTHB) incentive.
This incentive is intended to alleviate some of the strain put on FTHB’s by the increasing cost of real estate in major cities across Canada, as well as to help alleviate some of the impacts from the mortgage guideline changes put in place over the last few years.
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Equity Take-Out
What is a Home Equity Line of Credit (HELOC)?
A home equity lines of credit (HELOC) is an option available to home owners that allows them to leverage the equity they have built up in their homes.
When you apply for this type of loan, you can choose to receive a lump sum of cash to use as you please (Full amount or partial), or borrow the sum over time to use as you please.
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Equity Take-Out
Life Insurance vs. Mortgage Insurance
When you obtain a mortgage the lender may suggest that you take out Mortgage Insurance (also known as Creditor Life Insurance). Many people chose not to take it, but they also don’t have Life Insurance, and this is problematic as you should definitely have one or the other! So let me explain what they are so you can make the right decision.
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