11 Steps to buying a home

Buying a home in can be one of the most exciting and rewarding things you ever do, or it can be one of the biggest nightmares you will ever go through. How you experience the home buying process depends entirely on how well prepared you are and how knowledgeable the people helping you are. The

Rental Property Financing

Lending requirements about the purchase of rental properties are almost as varied as the number of lending institutions. I would definitely discuss your present circumstances and the kind of rental property you would like to buy with your mortgage broker. If you are looking to buy a house in Ontario for you to move into,

Mortgage Application Basics

At some point during the purchasing process your mortgage broker will need to complete a mortgage application on your behalf. The following information will be needed for each applicant and any guarantors. Full name and date of birth Address and postal code, how long you have lived there Previous address and how long you lived

Mortgage Discharge Penalties

This is the most difficult topic related to mortgages and it will continue to be confusing until the laws in Canada are changed to require consistency on how lending institutions charge their penalties. Most lenders charge an early payoff penalty on closed mortgages if the debt is paid prior to the maturity of the term.

How the mortgage market works in Canada

In Canada, mortgage rates are set by the major financial institutions, in a “follow-the-leader” manner, with one of them, usually a major bank, taking the “leader” role. All major financial institutions earn a large part of their income on the “spread”, which is the difference between loan/ mortgage rates they charge to borrowers and the