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
What First-Time Buyers Worry About When Applying For a Mortgage
By Newinhomes.com Are you feeling anxious about borrowing hundreds of thousands of dollars for a new home? You’re not alone. Applying for a mortgage can be stressful. Buying a home is the largest purchase you’ll ever make, especially if you’re a first-time buyer. Here are a few things that… Read More
The Canadian Mortgage Stress Test in 2019
Meeting the requirements for a mortgage and getting approved are already challenging enough, but securing a mortgage in 2019 is even more of a feat thanks to the recently introduced mortgage stress test. Want to know the minimum credit score required for a mortgage in 2019? Find out here. Read More
Single Awareness Day: Buying a Home with a Single Income
Although dual-income households can improve purchasing power and the ability to qualify for a mortgage, a significant number of home buyers are going through the process solo. But how affordable is it to buy a home on a single income in Canada? A study by Zoocasa looks at the… Read More
Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom
You may have heard of my story. I’m the guy who paid off his mortgage by age 30. CBC News filmed my mortgage burning party a little over three years ago and it went viral. While a lot of people know I’m mortgage-free, I wanted to share… Read More
Mortgage Closing Costs in Ontario
A home is a significant purchase, and odds are, you’ll need a mortgage to support such a cost. But the mortgage payments themselves, while hefty, aren’t the only financial aspects of buying a home that you need to budget for. When buying a home in the GTA, there are several… Read More
Mortgage Prepayment Penalty
A mortgage is a hefty financial commitment to repay a large sum of money to a lender to buy a home. Considering this, the thought of paying all the money that you owe before it’s actually due might be far from your thoughts when you initially take out a mortgage. Read More