Monthly Archives: Monday May 29th, 2017

Debt consolidation via a mortgage

Monday May 29th, 2017

Debt consolidation via a mortgage

Debt consolidation consists in borrowing a single amount of money with a financial institution to pay all of your debts. This way, you end up with a single payment which greatly facilitates the management of your finances. In addition to streamlining your debts into a single payment, a consolidation loan can offer an interest rate […]
Read more

Find out how to calculate the mortgage you can afford

Monday May 22nd, 2017

Find out how to calculate the mortgage you can afford

First of all, it is important to differentiate between the maximum sum that you can afford and the maximum sum permitted by banking and government regulations. In reality, even if financial institutions are ready to offer you a $400,000 mortgage loan, it doesn’t necessarily mean you can afford it because of many contributing factors which […]
Read more

Taking advantage of the CMHC portability option

Monday May 15th, 2017

Taking advantage of the CMHC portability option

Anna and Jeff own a condo. However, with their third child on the way, they need to buy a larger home. Can they take advantage of the Canada Mortgage and Housing Corporation (CMHC) portability option? What is the CMHC portability option? All buyers who provide a down payment of less than 20% of the purchase […]
Read more

Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

Monday May 8th, 2017

Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

The answer to this question depends on your future projects and your current level of debt. In a nutshell, if you already have credit card debts, a line of credit, a personal or car loan, or a high-interest furniture loan, and if these debts are costing you more in interest than your mortgage will, then, […]
Read more

Is a home inspection a pre-purchase must?

Monday May 1st, 2017

Is a home inspection a pre-purchase must?

Technically, the answer is no. However, as mortgage specialists, we strongly recommend it!  We are strong believers in pre-purchase home inspections because they provide you with a better understanding of the property you are buying. The role of the inspector is to provide you with a thorough report on the quality of the property. Does […]
Read more