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How to Qualify for a Higher Mortgage Amount
When the mortgage rules changed for insured mortgages (those with less than 20% down) in October of 2016, the most constant question I had was, “How do I qualify for more?”. Borrowing power for those [...]
How are the New Changes Effecting your Mortgage in Regina
The new rule changes for mortgages set out by the federal government beginning January, 2018 will effect anyone with an “uninsured mortgage”. This means any mortgage in which a person is not paying mortgage default [...]
Top 5 Ways to Improve Your Credit Score
Pay off any outstanding collections. These are debts that haven’t been paid that were sent to a third-party collection agency for them to collect payment on behalf of the creditor. Many companies (not just credit [...]
Are Lenders Obligated to Renew Mortgages?
It's a common held belief that if you've made your mortgage payments on time throughout the entirety of your mortgage term, that your lender is somehow obligated to renew your mortgage. This is simply not the case. [...]
Creating Stability in the Canadian Housing Market
This morning, Finance Minister Bill Morneau announced new housing measures, changes meant to alleviate risk in Canada's current housing market. The measures include: Standardizing lending criteria for high- and low-ratio mortgages, including a mortgage stress [...]
Avoid This Mistake When Shopping for a House
No doubt about it, buying a home is an emotional experience. It's a game of balancing needs and wants, while trying to be honest with yourself about those very needs and wants. It's hard to [...]
Further Tightening of the Mortgage Belt
Before reading this you should be warned that the following content is pretty dry... like eating 8 saltine crackers without drinking water dry. If you need to go and get something to drink before proceeding, no worries, [...]
Use Low Rates to Your Advantage!
In an article I recently published called "Is Now a Good Time to Buy?" we identified that interest rates are at all time Canadian lows and as it's never been cheaper to borrow money, now is a good time [...]
Bank of Canada Rate Announcement Sept 7th, 2016
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per [...]
Is Now a Good Time to Buy?
If you're getting tired of all the media headlines claiming impending housing market and economic doom and gloom, you're not alone. It seems every time you browse the news another US economist is predicting terrible things for [...]
What is Mortgage Fraud?
Have you ever wondered about how to protect yourself from mortgage fraud? Although the chances of you becoming a victim of mortgage fraud is relatively small, if you do become a victim, it will certainly have a [...]
A Conversation About Mortgage Pre-approvals
Thinking of buying a property, but don't know where to start? Well... that's where a mortgage pre-approval comes in. Start here. Just like you wouldn't go into a restaurant without having enough money to buy [...]
Finding Money For Closing Costs!
https://youtu.be/Tl-e7tIgcl0?list=PLlv-v0mrsq3pCHeE4XyXtT7Bb8RtJNRGZ If you are planning on purchasing a property in the next couple of years, here is a really good video that will explain how you can find some extra money to put away into [...]
Negative-Yield Bonds – Pay to Save?
There is a good chance that if you skimmed the news headlines this last week, you passed right on over a piece called CIBC sells negative-yield bonds for 1st time. No one blames you, because let's face [...]
How (Not) to Consolidate Debt
By Sandi Martin of Spring Personal Finance.The point: it doesn’t matter what method you use to pay off debt, or if you use any method at all. What matters is that you stop creating new [...]
10 Tested, Proven Ways to Become Less Productive
Let’s face it: while there is an abundance of articles on how to become more productive, there aren’t a lot on becoming less productive. With that in mind, I decided to put this article together. [...]
How To Save $1 Million For Retirement
Starting to save early for retirement is extremely beneficial in the long run, especially if you have the dream of retiring with $1 million as so many Canadians do. It’s not an easy feat, but [...]
Verico Q3 2016 Economic Update with Michael Campbell
VERICO’s Economic Consultant Michael Campbell has just released the Economic Update for Q3 2016, a VERICO Exclusive.“Brexit is important but it’s part of a much bigger story…The key to know is that the Brexit vote [...]
Bank of Canada Rate Announcement July 13th, 2016
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per [...]
Welcome to Canada | Finding a Home
https://www.youtube.com/watch?v=Q9EZ0z8FceY Welcome!We're so glad you decided to make Canada your new home. It can be rewarding, and sometimes challenging to find a place to live that's comfortable, safe, and affordable.CMHC is here to help! Consider these things as you look [...]
More Oversight for Mortgages in Canada?
Although no firm changes have been announced regarding mortgage regulations, it looks like this might be the beginning of something. The following is correspondence shared by Mortgage Professionals Canada by email to the mortgage industry, it [...]