Embarking on life after separation demands astute financial navigation, particularly when it comes to your mortgage. In this guide, we’ll delve into essential strategies for financial navigation after separation, ensuring you master the challenges and safeguard your financial future post-separation.
Continue reading →Divorce
Bank of Canada Rate Announcement – June 7th 2023
The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is also continuing its policy of quantitative tightening.
Continue reading →Bank of Canada Rate Announcement Apr 12th, 2023
The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.
Continue reading →What Is A Spousal Buyout?
Divorce or separation can be a challenging time, especially when it comes to dividing assets like property. However, there is a little-known mortgage product that can make the process easier. The spousal buyout program allows you to refinance your property and buy out your ex-spouse or allow your ex-spouse to buy you out, up to 95% of the property’s value. Here are some frequently asked questions about this program.
Continue reading →The Best Time to Sell: The Week of April 16-22
Wondering when the best time to sell is? “Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2023 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”
Continue reading →Mortgage Options At Renewal
It’s a commonly held belief that if you’ve made your mortgage payments on time throughout the entirety of your mortgage term, that the lender is somehow obligated to renew your mortgage.
Continue reading →Bank of Canada Rate Announcement Mar 8th, 2023
“In Canada, economic growth came in flat in the fourth quarter of 2022, lower than the Bank projected…Employment growth has been surprisingly strong, the unemployment rate remains near historic lows, and job vacancies are elevated… Overall, the latest data remains in line with the Bank’s expectation that CPI inflation will come down to around 3% in the middle of this year.”
Continue reading →Top 5 Checklist: Does Your Home Still Match Your Lifestyle?
Change is inevitable. We change things almost daily, from our wardrobe to our meal choices to the activities we to enjoy on the weekend. But how about where we live and spend most of our time? Your home was the perfect havn when you bought it. But how about now? We’ve listed our 5 key areas that are worth weighing up to check if your home is still right for you…
Continue reading →Why The Subject Property Matters
When looking to qualify for a mortgage, typically, a lender will want to review four areas of your mortgage application: income, credit, downpayment/equity and the property itself. Assuming you have a great job, excellent credit, and sufficient money in the bank to qualify for a mortgage, if the property you’re looking to purchase isn’t in good condition, if you don’t have a plan, you might get some pushback from the lender.
Continue reading →Parental Leave
Chances are if the title of this article piqued your interest enough to get you here, your family is probably growing. Congratulations! If you’ve thought now is the time to find a new property to accommodate your growing family, but you’re unsure how your parental leave will impact your ability to get a mortgage, you’ve come to the right place!
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