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
Why Mortgage Rates Vary by Province, and How You Can Level the Playing Field
Homes in and around the Greater Toronto Area may come with some hefty price tags, but if you’re property shopping in Canada’s largest housing market, you’ve got one thing working in your favour: cheaper mortgage rates versus the rest of the country. Ontario mortgage rates are currently… Read More
Co-buying: Should You Consider Buying a Home with a Friend?
By: Zoocasa If you’ve been looking at MLS listings in Toronto or other cities like Vancouver, you’ll have noticed that home sale prices have been increasing, making it harder to buy a home on a single income. However, that might not mean that your dream of… Read More
How Car Loans, Student Debt, and Credit Card Balances Impact Mortgage Affordability
By: Zoocasa Extremely few Canadians pay for their house in cash — almost all of us will be forced to borrow in order to buy a property. In 2016, mortgages accounted for 80.7% of the total debt carried by Canadian families, up from 77.4% in 1999, according to… Read More
What is The New CMHC First-Time Home Buyer Incentive?
Depending on where you live, the price of homes could be extremely high and often out of reach, especially for those who have yet to crack the real estate market. Young adults are often fraught with student debt and have yet to accumulate any type of wealth that older Canadians… Read More
Canadian Mortgage Rate History
If you’re in the market to buy a new home and take out a mortgage, then you’ll be very interested to know what mortgage interest rate you’ll be offered. After all, mortgage rates will directly influence how expensive or affordable your mortgage will be. Obviously, lower rates will translate into… Read More
Who is Genworth Canada?
With housing prices as high as they are, most consumers wouldn’t be able to afford a home purchase without the help of a mortgage. But the lenders who provide mortgages place themselves at great risk considering the fact that borrowers may be unable to continue making their mortgage payments at… Read More
Buying a House in Canada With Bad Credit in 2019
Bad credit can happen to anyone. A job loss, an illness or a few not-so-great decisions can have long term consequences for your credit score. One of those consequences is that it can be hard to buy a house; banks use credit scores to determine how trustworthy borrowers are,… Read More
Avoid These Common Mortgage Application Mistakes
Mortgages are incredibly important types of loans that make it possible for Canadians to make the biggest purchase of their lives. Considering how important mortgages are, it’s essential to ensure that all steps toward applying for a mortgage are done correctly in order to avoid any issues with approval. Unfortunately,… Read More