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
What is a Cash-Out Refinance?
There are certain things in life that are very expensive and may require more cash to cover than the majority of us might have in our bank accounts. That’s why many consumers tend to take out loans to cover such expensive costs. People who own homes may also consider… Read More
Retiring With a Mortgage in Canada
After spending your entire life working hard at your job and paying all of your bills, retirement should be a time to finally be rid of the daily grind and the mounting bills. While there are obviously still bills to pay in retirement, one large bill that many retirees tend… Read More