Category Archives: Refinancement

Itching to renovate your home? Here’s how to make it happen.

Monday April 23rd, 2018

Itching to renovate your home? Here’s how to make it happen.

After a visit with me at my office, Vanessa and Thomas decided to renovate their home to bring it up-to-date. They even took the opportunity to add a garage! Fifteen years ago, they paid $130,000 for their home, which is worth $275,000 today. They have a mortgage balance of $62,000. The estimated cost of the […]
Read more

Refinancing a property can be advantageous.

Monday February 12th, 2018

Refinancing a property can be advantageous.

Certain situations make it worthwhile to refinance your property: To maximize your RRSP in the framework of a plan drawn up by a financial planner; To finance a project at a lower cost (lower interest rates) such as; Purchasing a motor vehicle Renovating a home Installing a swimming pool Changing the windows Installing a heat […]
Read more

Christmas was magic! Now, how do I pay the debt racked up on my credit cards?

Monday January 15th, 2018

Christmas was magic! Now, how do I pay the debt racked up on my credit cards?

It’s January, cold and dark, and here you are, faced with a pile of debts and credit card bills that reflect your over-spending on holiday celebrations! You’ve received one or more bills? Can you pay them all off? If this is the case, congratulations! If not, take a few minutes to do the following exercise. […]
Read more

Refinancing your mortgage can make your dream kitchen a reality!

Tuesday October 10th, 2017

Refinancing your mortgage can make your dream kitchen a reality!

You may wonder whether there is a way to use your mortgage to finance a specific project, such as a kitchen renovation. Let’s take a look at how it is not only possible, it is actually the most cost-effective way to finance these types of costs. How does it work? First of all, you must […]
Read more

Important changes coming to mortgage financing standards

Monday September 18th, 2017

Important changes coming to mortgage financing standards

The Office of the Superintendent of Financial Institutions (OSFI) is currently studying the possibility of applying another major change that will affect anyone looking to purchase or refinance a property (1 to 4 units) and having at least 20% in down payment and/or equity for mortgage refinancing: Primary residence Secondary residence Income property (1 to […]
Read more

Important Notice: If you have a Variable mortgage rate, what should you do?

Thursday September 7th, 2017

Important Notice: If you have a Variable mortgage rate, what should you do?

To the surprise of many economists and analysts the Bank of Canada (BoC) has decided to increase its key lending rate for the second time in 2 months by another 0.25% on September 6th 2017.  This brings its target overnight rate to 1% and the variable mortgage prime rate to 3.20% for most banks. The […]
Read more

Can refinancing my home solve my debt issues?

Monday August 28th, 2017

Can refinancing my home solve my debt issues?

This is a question frequently asked concerning mortgage financing… I have credit card debt. Could my house be the solution to my debt issues? The answer is YES, if you have the necessary equity to refinance your property. The principle is simple: calculate 80% of the market value of your home and then subtract the […]
Read more

Your home can be used as financial leverage.

Monday August 7th, 2017

Your home can be used as financial leverage.

Geneviève and Éric bought their home 8 years ago.  By refinancing their home for the maximum allowed (80% of the market value), they were able to free up $100,000 that they used as a down payment on the purchase of an 5-Plex costing $600,000. Because the $100,000 withdrawn from their home was used for an […]
Read more

A fourplex property investment

Monday July 31st, 2017

A fourplex property investment

Here is the story of Jean-Francois and Charles. Both own their own home and would like to invest in real estate in order to diversify their savings. After months of searching with their real estate agent for a profitable well-built property, complete with good tenants, they finally found their diamond in the rough. Unfortunately, they […]
Read more

What Do I Do If I Have a Variable Rate Mortgage? | Rate Analysis

business chart
Friday June 30th, 2017

What Do I Do If I Have a Variable Rate Mortgage? | Rate Analysis

A lot of panic has been created from the recent Bank of Canada (BoC) rate hike possibility as its next meeting is set for July 12th 2017.  Although any rate hikes are always a little scary, we need to take the time to analyze the market and take each mortgage on a case per case […]
Read more
Page 1 of 3123