Blog

How to find out about your credit rating.

Monday September 11th, 2017

How to find out about your credit rating.

There are essentially two private credit rating firms that produce credit scores which the banks will consider while analyzing your mortgage application. The most well known is Equifax, the other one is Trans-Union. They gather and process the following information: The current monthly balance on your credit cards, lines of credit, car loans, furniture loans, […]
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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 […]
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What are the potential dangers of dealing with a virtual bank?

Monday September 4th, 2017

What are the potential dangers of dealing with a virtual bank?

Virtual banks such as Tangerine (ING Direct), First National, MCAP, Home Trust,Equitable Bank are more and more present on the market and keep gaining ground every day at the expense of traditional banks. Then, what are the risks of dealing with such financial institutions?  What are your risks as a consumer? The vast majority of […]
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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 […]
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Buying a home when you’re new to Canada: It’s easier than you think!

Monday August 21st, 2017

Buying a home when you’re new to Canada: It’s easier than you think!

Are you new to Canada and think that buying a home is out of reach? Think again! With good planning and sound advice from real estate and mortgage brokers, it can be done.   Common myths New immigrants often rely on information from family and friends. It’s understandable: these are people you know and trust. […]
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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 […]
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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 […]
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A place for your kids to live through university: Better to buy or rent?

Monday July 10th, 2017

A place for your kids to live through university: Better to buy or rent?

With the high cost of rent, especially in Quebec City and Montreal, more and more parents are buying condos for their kids to live in while they’re at school. After all, they could probably sell it for a profit down the road. But is buying always the best option? Why buy versus rent? Living in […]
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What Do I Do If I Have a Variable Rate Mortgage? | Rate Analysis

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 […]
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