When it comes to buying a home, there are many expenses that you need to consider, including the down payment, mortgage, and various other fees. For those who are unable to put down a large enough down payment, mortgage loan insurance is a popular solution. Here, we’ll explore what mortgage loan insurance is and how…

When it comes to getting a mortgage, Canadians have two options: banks or mortgage brokers. But which one is better, and can a mortgage broker actually get a better rate than the bank? Let’s start with the basics. Banks offer their own mortgage products, while mortgage brokers have relationships with multiple lenders and can recommend…

Buying a house is a significant investment, and for many Canadians, the only way to afford it is through a mortgage. Before starting to look for a home, you should get pre-approved for a mortgage. A pre-approval gives you an estimate of how much you can afford to spend and helps you determine your budget….

In Canada, mortgage refinancing has become increasingly popular in recent years, with homeowners turning to it for a range of reasons, from reducing monthly payments to consolidating debt. Put simply, mortgage refinancing is the process of renegotiating an existing mortgage loan agreement in order to either lower your overall payments or borrow additional funds against…

Paying off your mortgage can seem like an impossible task, but it doesn’t have to be. By making a few simple adjustments, you can significantly reduce the amount of time it takes to pay off your mortgage and save yourself thousands of dollars in interest charges. The first step to paying off your mortgage faster…

As an individual who is thinking about buying a home, it is natural to ask the question “How much mortgage can I afford?”. For most Canadians, their home is one of the largest investments that they will ever make, and getting the mortgage right is key to ensure that this investment is a successful one….

When it comes to mortgages in Canada, there is often confusion about what expenses can be tax-deductible. One of the main questions homeowners have is whether mortgage interest payments can be claimed back on their taxes. The answer is not straightforward and depends on how the property is being used. In Canada, the government has…

For many Canadians, purchasing a home is the biggest financial decision they will make in their lives. And for many of them, that decision involves seeking out the expertise of a mortgage broker. Mortgage brokers are licensed professionals who are trained to help borrowers find and secure the best mortgage products and rates from multiple…

A second mortgage is an additional financing option that can be taken out on the same property where an existing mortgage already exists. Essentially, it is a loan that is in second priority to the first mortgage on the same property. There are different types of second mortgages available in Canada, but the most common…

Purchasing a home is often one of the most significant investments one can make. It is an exciting experience, but it also comes with its own set of risks and challenges. One of the major concerns of any homeowner is ensuring that their loved ones will be financially secure if they pass away unexpectedly or…