Mortgage Blog

Category: Mortgage (59 posts)

Canada's New Updated Mortgage Charter

November 23, 2023 | Posted by: Kiruban Kana

The Canadian Mortgage Charter spells out the rights consumers have when they are renegotiating mortgages. It calls on financial institutions to provide better relief measures over the next three y ...

Understanding Fixed vs. Variable Rate Mortgages

November 15, 2023 | Posted by: Kiruban Kana

If you're on the cusp of getting a mortgage, or if you're considering refinancing, you've likely encountered the terms "fixed rate" and "variable rate" mortgage. These are the two primary pathways i ...

Mortgage Renewal Benefits

November 6, 2023 | Posted by: Kiruban Kana

Is your mortgage coming up for renewal? Do you know about all the incredible options renewing your mortgage can afford you?If not, I have all the details here on how to make your mortgage renewal work ...

6 things to know about capital gains and taxes for people across Canada

November 6, 2023 | Posted by: Kiruban Kana

So, you made some cash selling your property or stocks at a higher price than you bought them for? High five! But before you start celebrating, there's this thing called capital gains that might show ...

Bank Of Canada Rate Update October 25, 2023

October 25, 2023 | Posted by: Kiruban Kana

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5% ...

Mortgage Strategies in a Rising Interest Rate Environment

October 24, 2023 | Posted by: Kiruban Kana

Hello dear readers, Let's have a coffee chat, shall we? If we were sitting in a cozy café, sipping on lattes (or your beverage of choice), today's hot topic of conversation would undoubtedly revol ...

Leveraging Your Home Equity to Help Purchase a Home For Your Children: A Prudent Move?

October 6, 2023 | Posted by: Kiruban Kana

Navigating Parental Assistance in Home Purchases The concept of parents aiding their children in stepping onto the property ladder is not a new one yet it is not ubiquitously adopted. A 2021 ...

Understanding and Utilizing Home Equity

October 2, 2023 | Posted by: Kiruban Kana

If you've consistently made mortgage payments over the years, you've been accumulating home equity. As this equity grows, homeowners can access it, converting it into cash for various purposes, from h ...

Can a first-time home buyer have a mortgage co-signer?

September 17, 2023 | Posted by: Kiruban Kana

Can New Home Buyers in Canada Use a Mortgage Co-Signer? Struggling to secure a mortgage or need a financial boost? Consider bringing in a co-signer. Dive deeper into this and other home-buying tact ...

Bank of Canada maintains policy rate, continues quantitative tightening

September 6, 2023 | Posted by: Kiruban Kana

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Infl ...

Top Reasons To Refinance Your Home And Reasons Why You Maybe Should Not.

August 25, 2023 | Posted by: Kiruban Kana

Refinancing a mortgage means replacing your existing loan with a new one, either with your current lender or a different one. Canadians often consider refinancing for various reasons, such as consolid ...

Navigating High-Interest Rates and Inflation: Your Path to Mortgage Resilience

August 5, 2023 | Posted by: Kiruban Kana

Introduction As your trusted mortgage broker, I understand that the current economic backdrop in Canada is presenting challenges for many homeowners. With interest rates on the rise and inflation p ...

Understanding Credit Scores and Maximizing Mortgage Opportunities in Canada

July 29, 2023 | Posted by: Kiruban Kana

Introduction In Canada, your credit score plays a crucial role in your financial life, especially when it comes to major transactions like securing a mortgage. A credit score is a numerical represent ...

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

July 12, 2023 | Posted by: Kiruban Kana

The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. G ...

Some great tips to help you save for a home

June 13, 2023 | Posted by: Kiruban Kana

A home for most all Canadians is likely the most significant purchase you will make in your lifetime, so it is essential to be well-prepared. It is crucial to understand how to budget and save for ...

Strategies for Speeding Up Mortgage Repayment

June 3, 2023 | Posted by: Kiruban Kana

Those of us who desire to own a home often long for the time when our mortgage is paid off. Although the majority of Canadian mortgages are usually amortized over the course of 25 years, there are a ...

Unlock Financial Freedom with Reverse Mortgages and CoffeeandMortgage.ca

June 2, 2023 | Posted by: Kiruban Kana

Unlock Financial Freedom with Reverse Mortgages and CoffeeandMortgage.ca Unlock Financial Freedom with Reverse Mortgages and CoffeeandMortgage.ca Are you a homeowner looking ...

12 things you should know about disability insurance

May 30, 2023 | Posted by: Kiruban Kana

12 things you should know about disability insurance 1️⃣ Disability isn't just physical: Disability claims also cover mental illness, though people often think primarily of disability as a phy ...

First-Time Home Buyer Budgeting: What You Need to Know

May 1, 2023 | Posted by: Kiruban Kana

As a first-time home buyer, budgeting is an essential part of the home buying process. By carefully planning your finances and considering all of the costs associated with purchasing a home, you can e ...

Attention real estate investors! As of May 01, 2023, most Alt-A lenders are making changes to their financing rules.

May 1, 2023 | Posted by: Kiruban Kana

Attention real estate investors! As of May 01, 2023, most Alt-A lenders are making changes to their financing rules. They will be eliminating the “offset” method for the subject renta ...

How to Pay Off Your Mortgage Faster

May 1, 2023 | Posted by: Kiruban Kana

When it comes to homeownership, many of us dream of the day we will be mortgage-free. While most mortgages operate on a 25-year amortization schedule, there are some ways you ...

What to do if You Are Denied a Mortgage

April 14, 2023 | Posted by: Kiruban Kana

What to do if You Are Denied a Mortgage Main reasons Why your mortgage application is Denied and What to do If Mortgage lenders reject Yours Mortgage lenders often reject loan application requests f ...

Selling Your Home in the Winter: How You Can Make the Most of It

April 14, 2023 | Posted by: Kiruban Kana

Selling your home in the winter can be a challenging task, but it can also be an opportunity to stand out in a crowded market. With fewer houses on the market and motivated buyers who are eager to mov ...

Bank Of Canada Rate Update April 12, 2023

April 14, 2023 | Posted by: Kiruban Kana

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4. ...

Bank of Canada Rate Update March 8, 2023

March 8, 2023 | Posted by: Kiruban Kana

Title insurance and home insurance–protect what matters most

February 27, 2023 | Posted by: Kiruban Kana

When something goes wrong with your home and you suffer a loss, you need to be able to rely on your insurance coverage. Knowing which of your insurance policies to turn to isn't always easy. Title ins ...

Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening

January 25, 2023 | Posted by: Kiruban Kana

The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening ...

Should You Spend the Full Mortgage Amount You're Approved For?

December 28, 2022 | Posted by: Kiruban Kana

Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ...

The Pros and Cons of Fixed vs. Variable Mortgages

December 8, 2022 | Posted by: Kiruban Kana

When it comes to choosing a mortgage, borrowers in Canada have two main options: a fixed rate mortgage or a variable mortgage. But which type is best for you? Here, we'll take a look at the pros and c ...

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening

December 7, 2022 | Posted by: Kiruban Kana

The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening ...

Bank of Canada Rate Update October 26, 2022

October 26, 2022 | Posted by: Kiruban Kana

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.75%, with the Bank Rate a ...

Best Ways to Plan for Your Down Payment

October 19, 2022 | Posted by: Kiruban Kana

Best Ways to Plan for Your Down Payment Do mortgages seem unaffordable? These tips will help you plan for your down payment so you can start talking to a private lender mortgage broker in no time. ...

How Mortgage Rates Affect Buying Power?

September 16, 2022 | Posted by: Kiruban Kana

How Mortgage Rates Affect Buying Power? Do You Know How Your Mortgage Rate Affects Buying Power? To maximize your purchasing power, you should understand how interest rates impact your home buying p ...

Bank Of Canada Rate Update September 7, 2022

September 7, 2022 | Posted by: Kiruban Kana

Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.25%, with the Bank Rate ...

Should You Pay Off Your Mortgage Early?

August 24, 2022 | Posted by: Kiruban Kana

It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will explore some o ...

Bank Of Canada Rate Update July 13, 2022

July 13, 2022 | Posted by: Kiruban Kana

Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 2.5%, with the Bank Rate ...

Bank Of Canada Rate Update June 1, 2022

June 1, 2022 | Posted by: Kiruban Kana

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at ...

How a Mortgage Pre-Approval Can Protect You from Rising Rates

May 26, 2022 | Posted by: Kiruban Kana

With interest rates rising, it's important to lock in a lower rate as soon as possible. You can do this with the right home mortgage pre-approval. Find out how! Do you plan on searching for and buy ...

How is a Private Mortgage Different Than a Traditional Bank Mortgage

May 4, 2022 | Posted by: Kiruban Kana

Understanding the difference between private mortgages and traditional bank mortgages can help you make the best decision for financing a new home. Each option provides the money to secure real estate ...

Bank Of Canada Rate Update April 13, 2022

April 13, 2022 | Posted by: Kiruban Kana

Bank of Canada increases policy interest rate by 50 basis points, begins quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% ...

Bank Of Canada Rate Update March 2, 2022

March 2, 2022 | Posted by: Kiruban Kana

Bank of Canada Increases Policy Interest Rate The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is contin ...

Top 10 Questions to Ask Your Mortgage Broker in Ontario

Bank Of Canada Rate Update January 26, 2022

January 26, 2022 | Posted by: Kiruban Kana

Bank of Canada maintains policy rate, removes exceptional forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ...

How Much of A Mortgage Can You Afford?

January 5, 2022 | Posted by: Kiruban Kana

How Much of a Mortgage Can You Afford? Mortgage Application: How Much of A Mortgage Can You Afford? The mortgage application process involves a buyer's due diligence in calculating how much mortgage ...

Prequalification and Pre-Approval—What is the Difference? Home Buying in Ontario

December 15, 2021 | Posted by: Kiruban Kana

What is the Difference Between Pre-Qualification and Pre-Approval? Prequalification and Pre-Approval-What is the Difference? Prequalification is a basic review of the borrower's information to deter ...

7 Steps for Mortgage Prep

December 9, 2021 | Posted by: Kiruban Kana

Step 1 - Your Credit Score Whether you qualify for a mortgage through a bank, credit union or other financial institution, you should be aiming for a credit score of 680 for at least one borrower (or ...