Group mortgages: more attractive in today’s market?
Posted on Sep 19, 2021 in Mortgages
Affordability is the word that’s heard whenever real estate is mentioned in conversation, it seems. A housing market with higher prices driven by a lack of inventory has led younger Canadians to become creative in trying to find their way into a market that continues to become more expensive for first-time buyers.
In search of alternatives to the co...
Interest rates lowering bar for Stress Test?
Posted on Aug 13, 2020 in Mortgages
The “stress test” is back in the news. This time, it’s positive news, at least relative to its last few news releases.
This time, it means mortgages will be slightly easier to qualify for and that means borrowers will be able to spend slightly more on a house and still qualify for the mortgage.
A story on cbc.ca details how — in theory — the most rec...
Simplifying mortgage jargon for new buyers
Posted on Nov 14, 2019 in Mortgages
Newcomers to mortgages sometimes find the terminology confusing. So what follows is Mortgage 1.0, a snapshot of the terms you’ll need to know when you go shopping for that first house.
Fixed-rate mortgage: the interest rate that will apply for the term of your mortgage
Term of mortgage: the length of time for which interest rates apply, not to be con...
First Time Mortgages for First Time Buyers
Posted on Sep 23, 2019 in Mortgages
The federal government’s latest “stress test” places considerable emphasis on first-time home buyers.
With that come first-time mortgages.
To help simplify that process, first-time home buyers want to be up to speed on the three stages of securing a mortgage.
One is called Pre-Qualification.
Two is Pre-Approval
Three is Approval.
All are explained in com...