Blog
- Feb 16, 2018
Bridge Financing
Bridge financing is a less common financing option, but it can be ideal for some buyers. Bridge financing is used when you have a firm sale agreement on your home and a firm purchase on a new home – but your new home closing date is sooner than the home they’re selling.
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- Feb 01, 2018
Bankruptcy and getting a mortgage
With the increasing stricter mortgage regulations in Canada has prompted the question, if you have to file bankruptcy is a mortgage still attainable? Most Canadians think of this as not possible, but let’s review what bankruptcy is and how you can rebuild your credit score from such.
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- Jan 12, 2018
What features of a mortgage are important to you?
When you think of what you look for in a mortgage, was rate the first thing that came to your mind? It is the most common feature of a mortgage in which we all focus on. But is it truly the most important?
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- Dec 01, 2017
How to become a real estate tycoon
Have you ever thought about using real estate to increase your overall net worth, or as a way to save for your retirement? Or even as a retirement plan instead of a traditional RRSP?
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- Nov 17, 2017
Closing Costs
Buying a home can be a stressful process and you may not know the full scope of the costs to close and finalize your purchase. Let’s break down what some of these costs can look like in getting a mortgage. Most lenders have a standing guideline of verifying a home buyer has 1.5% of the purchase price in closing costs. For example: 1.5% of a $500,000 would be $7,500. Closings costs can be more than the predicted 1.5%, but to understand that guideline better let’s review the sources of these costs.
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- Nov 03, 2017
All about getting a HELOC: Home Equity Line of Credit
When refinancing your home, a newer trend is the option to put a portion of those funds into a HELOC (Home Equity Line of Credit). A HELOC provides greater flexibility in accessing funds – but it is important to determine if it’s the right choice for your financial situation.
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- Oct 20, 2017
Affordability
Home prices in Canada have been steadily on the rise for the last few years, especially in the hottest markets such as Vancouver and Toronto. The average home price in Canada as of August 2017 was $472,247, whereas if we go back to 2008, before the recession, home prices were only an average of $304,604! And if you were buying in 1988, the average Canadian home would only cost you $129,702!
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- Oct 06, 2017
How to rebuild your credit and pay off debt
Whether you own property or not, there are times when life just happens: an unexpected bill or an emergency arises that puts you in place where your credit is the one to take a hit. Credit can be impacted negatively from cards with balances over 75%, missed payments on trade lines and collections.
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- Sep 22, 2017
Best Fall Renovations
Winter in Canada can be intense, snowy and freezing. Pretty much everywhere. Some provinces experience temperatures below -30 degrees Celsius during their coldest part of the year, so it makes sense to think of better ways to save energy and conserve heat in the winter. Some of these ways require renovations, and fall is the best time to start your home renos, with kids back to school and the summer heat behind you. Then you’ll enjoy the warmth of energy savings during the cold clutches of winter.
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- Sep 08, 2017
Tiny Homes
With the increasing home prices across Canada, consumers have been getting creative with ways to cut costs and live more affordably. One of the ways Canadians have been looking to achieve this is by purchasing or even building their own “Tiny Home”.
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