On April 1st, the federal government launched the First Home Savings Account (FHSA) to assist first-time home buyers. This program allows them to save up for a down payment.

You will have many options when it comes to choosing a mortgage. Become familiar with the following terms and options to help with your decisions.

Getting pre-approved for a mortgage is essential before looking for a home. It can save you time and the heartache of falling in love with a house out of your range.

This is the first blog in a four-part series designed for First Time Home Buyers. Even if you have purchased a home before, it’s a great refresher.

Purchasing a home is one of the most significant financial decisions people make. Therefore, it’s essential to understand the terminology used in the home-buying process, including the difference between a deposit and a down payment. These terms are often used interchangeably in Canada but have distinct meanings.

With so much misinformation floating around, many common misconceptions surround the mortgage process. We have broken down a few of them here.

The idea of purchasing a new construction property is appealing to many homebuyers. From the ability to customize your home to the smell of a shiny new unlived-in home, there are many benefits to buying new construction. However, there are some drawbacks to consider.

On January 25th, the Bank of Canada raised its benchmark interest rate for the eighth time to 4.5%. Mortgage lenders and banks have followed suit, increasing their prime rate to 6.7% (TD at 6.85%).

If you’re a homeowner looking to optimize your finances, consider taking advantage of your home’s equity to reposition any existing debts you may have.

Chances are if you’re applying for a mortgage, you feel confident about the state of your current employment or your ability to find a similar position if you need to. However, your actual employment status probably means more to the lender than you might think. You see, to a lender, your employment status is a strong indicator of your employer’s commitment to your continued employment.

If you have a variable rate mortgage and recent economic news has you thinking about locking into a fixed rate, here’s what you can expect will happen.

If you’re looking to buy a property or have a mortgage up for renewal, and you’re thinking about connecting with your bank directly, save yourself a lot of money and regret by reading this article first.

If you need to borrow money to finance any property, working with an independent mortgage professional will save you money, time, and provide you with better options than your bank.

So you’re thinking about co-signing on a mortgage? Great, let’s talk about what that looks like. Although it’s nice to be in a position to help someone qualify for a mortgage, it’s not a decision that you should make lightly. Co-signing a mortgage could have a significant impact on your financial future. Here are some things to consider.

Being a home owner is excellent, having a huge mortgage isn’t. So, if you have a mortgage that you’re looking to get rid of as quickly as possible, here are four things you should consider doing.

Although it’s ideal to have your mortgage paid off by the time you retire, that isn’t always possible in today’s economy. The cost of living is considerably higher than it has ever been, and as a result, many Canadians are putting off retirement, hoping to make just a bit more money to add to that nest egg.

If you’ve been thinking about buying a property, whether that be your first home, next home, forever home, or a home to retire into, the current state of the Canadian economy might have you wondering: Is this really the right time to make a move? There is certainly no shortage of doom and gloom in the news out there.

Your credit score and how you manage credit are huge factors in qualifying for a mortgage. If you want the best interest rates and mortgage products available on the market, you want a high credit score. Here are a few things you can do to improve your credit score.

If you’re new to managing personal finance and you want to learn about credit, you’ve come to the right place. Establishing new credit is a bit of a catch-22. To build a credit history, you need credit. But it’s hard to get credit without having a credit history. So, where do you start?

Whether you want to set aside money to buy a car or take a vacation, save up for a down payment on a property, or plan for your retirement, the principles are the same.