Deposit vs Downpayment

Deposit vs Downpayment

As part of the mortgage and real estate processes, there’s a lot of confusion around the differences between the deposit and the downpayment. It's important to understand what sets them apart so you don’t get confused when it’s time to secure financing on a property...

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Is Right Now a Good Time to Buy?

Is Right Now a Good Time to Buy?

If you've been thinking about buying a new home; whether that be your first home, your next home, your forever home, or your retirement home, the doom and gloom of it all might be causing you to question... is right now a good time to buy a home? Well... what if I...

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I Missed a Credit Card Payment… Now What?

I Missed a Credit Card Payment… Now What?

If you've missed a payment on your credit card (or line of credit) and you're wondering how this will impact your creditworthiness down the road, this article is for you. But before we get started, if you have an overdue balance on any of your credit cards at this...

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Online Mortgage Calculators, Can You Trust Them?

Online Mortgage Calculators, Can You Trust Them?

You'd think an online calculator is a pretty straight forward device, one that you should be able to place your full confidence in, and for the most part they are. Calculators calculate numbers, the numbers are reliable, but how you interpret those numbers... not so...

Can I Give Someone The Downpayment to Buy My House?

Can I Give Someone The Downpayment to Buy My House?

Although it might not always be this straightforward, the question "Can I give someone the downpayment to buy my house?" presents itself in many different ways. And the answer to all of them is no, well... except in one circumstance, but we will get to that later....

Bank of Canada Rate Announcement Oct 30th, 2019

Bank of Canada Rate Announcement Oct 30th, 2019

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent. The outlook for the global economy has weakened further since the Bank’s July Monetary Policy Report...

Avoid This Mistake When Shopping for a House

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 get it right, figuring out what's negotiable and what isn't... what you can...

Improving Your Credit Score

Improving Your Credit Score

Along with employment stability, and downpayment/equity, your credit score and how you manage your credit is a huge factor in qualifying for a mortgage. If you want the best interest rates available on the market, the higher your credit score the better. However, if...

Should I Get A Mortgage Pre-Approval?

Should I Get A Mortgage Pre-Approval?

Should I get a Mortgage Pre Approval? Going through the pre-approval process is important. However, the actual term ‘pre-approval’ is often misunderstood. It’s not magic, and it’s certainly not binding. Let’s be clear, a pre-approval isn’t for the lender; it’s for...

Can’t Find the Perfect Property In Your Price Range?

Can’t Find the Perfect Property In Your Price Range?

You're pre-approved for a mortgage, you've been shopping with location in mind, but unfortunately the perfect property isn't jumping out at you. There is no doubt about it, finding the perfect property (within your price range) is a difficult task, especially for...

Mortgage Post Bankruptcy

Mortgage Post Bankruptcy

This should come as no surprise, but sometimes life throws you a financial curveball. Bankruptcy and consumer proposals happen. It doesn't mean your life is over, and it doesn't mean you won't ever qualify for a mortgage again. The key here is to get a plan in place...

How to Not Qualify for a Mortgage

How to Not Qualify for a Mortgage

If you have no desire at all to qualify for a mortgage, here are some great ways to make sure you don't accidentally end up buying a house and taking out a mortgage to do so. One of the best ways to ensure you won't qualify for a mortgage is to be unemployed. Yep,...

Bank of Canada Rate Announcement Sept 4th, 2019

Bank of Canada Rate Announcement Sept 4th, 2019

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent. As the US-China trade conflict has escalated, world trade has contracted and business investment has...

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