Buying a Starter Home

Buy a home that fits within your budget and is a good starter home.

Your dream home isn’t always within reach when it comes to buying a house for the first time. This can lead many first-time homebuyers wanting to wait and hold off for another year before going forward and making an offer on a place. But will you be chasing a dream forever? Should you wait and […]

What’s Stopping You from Owning a Home?

Owning a Home

Owning a home is considered to be a rite of passage for many Canadians. It symbolizes independence. You set the rules, make the decisions, take financial responsibility and invest in your future. Renting doesn’t give you much control over the property. You are under the landlord’s mercy when it comes to following rules written in […]

Saving for a Down Payment

Saving for a Down Payment to Purchase a Home

Saving a down payment to buy a home can be the biggest challenge first-time home buyers’ face. In Canada, the minimum down payment is five percent of a home’s purchase price that is under $500,000. If the home’s purchase price is over $500,000, the requirement is five percent on the first $500,000 and ten percent […]

The Best Time to Buy a New Home

If you are waiting for the perfect time to buy a new home based on market predictions, you are probably going to miss out. Make sure buying a home is the right step for you at this time. Don’t make the decision based on market conditions alone. If owning a home is cheaper than renting, then […]

Changes During a Mortgage Pre-approval

Once you’ve applied for a mortgage pre-approval, don’t make any major changes or significant purchases without speaking to your mortgage broker first. Your mortgage pre-approval is based on your current job, credit, savings, and expenses. Changing any one of these factors could affect or even void a mortgage pre-approval. Are you thinking of buying a […]

Closing Costs to Consider When Buying a Home

Are you thinking of buying a new home? It is important to be aware of closing costs during the home buying process. There is nothing worse than making an offer on a new home and finding out that the extra closing expenses are higher than you budgeted for. Moving can be expensive and there can […]

How A Mortgage Payment Works

Mortgage Payment Frequency

There are many options when choosing a mortgage payment. The best payment choice depends on an individual’s preference and financial goals. Payment frequency and payment acceleration are the two main factors you need to consider. Here is some information to help determine the best mortgage payment type for you. Mortgage payments are made weekly, bi-weekly, semi-monthly […]

Hire a Buyer’s Agent to Buy a Home

Buying a home can be the single biggest financial transaction some people will make. It’s exciting and fulfilling, but it can also be overwhelming at times. Hiring professionals to make the home buying journey go as smoothly as possible is a smart idea. You do not buy a home every day, so why not rely […]

Home Buyers’ Plan for First-Time Home Buyers

Home Buyer's Plan

Saving for a down payment is a challenge for many first-time home buyers. It can be the only hurdle standing in the way of homeownership. The Government of Canada acknowledged the difficulty first-time home buyers were facing and established the Home Buyers’ Plan (HBP). The Home Buyers’ Plan allows first-time home buyers, people who have […]

New Mortgage “Stress Test” Tips

New Mortgage Rule Tips

The new mortgage “stress test” rule is now in effect. It impacts those purchasing a home with less than a 20 percent down payment, therefore requiring default insurance. Canadians applying for a default insured mortgage are required to qualify at the Bank of Canada’s five year posted interest rate (the benchmark qualifying rate) on all […]