Spousal Buyout of a Mortgage

Spousal Buyout of a Mortgage

When a marriage, common-law arrangement, or another significant relationship ends, the division of assets, such as a mortgage, must be considered before the relationship is completely over. Unfortunately, how a mortgage is handled in this situation isn’t always black and white. Depending on how the partners decide to agree to… Read More


The Canadian Mortgage Stress Test in 2020

The Canadian Mortgage Stress Test in 2020

Meeting the requirements for a mortgage and getting approved are already challenging enough, but securing a mortgage in 2020 is even more of a feat thanks to the mortgage stress test. Starting in 2018, all Canadian buyers who are applying for a mortgage from a federally-regulated lender are now required… Read More


Minimum Credit Score Required For Mortgage Approval in 2020

Minimum Credit Score Required For Mortgage Approval in 2020

Getting approved for a mortgage these days can be a real challenge, especially with housing prices constantly on the rise. In Toronto, for instance, you’ll be paying over $820,000 for a home, which is nearly $100K more than the average price the year before. Unless you’re rolling in cash, that’s… Read More


Features You Want to See in Your Mortgage Contract in 2020

Features You Want to See in Your Mortgage Contract in 2020

Most Canadians who become homeowners typically need to take out a mortgage to help finance such a  purchase. And as you may already be aware of, a lower rate on your mortgage is ideally what you want (or is it? learn more here). After all, the lower the interest… Read More


Mortgage Flexibility

Mortgage Flexibility

If you’re ready to take out a mortgage, you want to do your best to lock in the lowest interest rate possible in order to help you save a sizable amount of money over the life of your loan. But at the same time, you’ll also need to consider how… Read More


What Borrowers Should Know About Working with a Mortgage Broker 

What Borrowers Should Know About Working with a Mortgage Broker 

By: Zoocasa For prospective home buyers, there is a lot to learn about the ever-changing housing market. While looking at listings for properties in a number of different markets, whether Toronto, Ottawa or Guelph homes for sale, it is vital to take a step back and… Read More


Alternative Mortgage Financing in 2020

Alternative Mortgage Financing in 2020

With the implementation of new mortgage rules in recent years, including the introduction of the mandatory OSFI (Office of the Superintendent of Financial Institutions Canada) stress-test in 2018, it’s becoming harder and harder for aspiring homeowners to get approved for the mortgages they need. Since banks, credit unions, and… Read More


How to Borrow Using Your Home Equity in 2020

How to Borrow Using Your Home Equity in 2020

As a homeowner starts to pay down their mortgage throughout the years, they begin building home equity. The more they pay toward their mortgage, the more home equity they gain for future use. Your equity will also rise if and when your property increases in value with the… Read More


Home Equity Loan vs. HELOC

Home Equity Loan vs. HELOC

Owning real estate is a fantastic way to grow your wealth over time, but there are also other perks of homeownership, including accessing your home’s equity when extra cash is needed to cover large expenses. Your equity represents the value of your home minus what you still owe… Read More


Note:

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