Mortgage Articles
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Canada’s Mortgage Process
Today getting a mortgage is a complex process involving the collection and submission of a large amount of documentation, 6 to 7 times more than previously. This can be daunting for a lot of borrowers. This is why it is critical to work with a mortgage agent to help you through the mortgage application process. It’s also why partnering with a mortgage agent is the very first thing you should do and the first step to getting home.
Using a Cash-Back Realtor
In today’s real estate market, many Canadian homebuyers don’t know about the benefits of a cash-back realtor. Imagine getting a part of the agent’s commission for every property deal. This is what cash-back home buying offers, making homes more affordable in Canada.
Mortgage Commitment: What You Must Know Before Waiving Financing
Discover what a mortgage commitment is and its importance in regards to waiving conditions on your offer to buy a home. Learn what you need to know before waiving financing.
Mortgage Discharge Statement
Learn why the mortgage discharge statement is an important document that ensures transparency and accuracy when calculating the total payout for a mortgage transfer.
Gifts Ineligible for Net Worth Programs
Discover why gifts are not generally eligible to be used as part of the down payment or source of income for people applying for a mortgage under the Net Worth Program
Smart Second Mortgages
Smart Second Mortgages: A smart second mortgage is more than a fallback, it’s an intelligent strategic tool.
John and Mary Canuck: Refinancing Strategy
Learn how Canadians are leveraging home ownership to generate income, reduce taxes, and build wealth.
What’s Your Best Rate?
Rate is important, but going for the lowest rate mortgage could cost you far, far more. Learn about the ‘hidden’ risks of low-rate mortgages and discover your best rate.
There’s a Mortgage for Everyone
. The current reality for many Canadians is a complex financial profile, uncertain employment, and varied income streams, all of which make qualifying for a mortgage more challenging. However, the good news is that a wide variety of mortgage programs exist to cater to different borrower needs, making homeownership an attainable goal for many.
Lenders’ View: Second Mortgages
Lenders’ View: Second Mortgages. Every lender views second mortgages through a completely different lens of risk, control and structure.
‘B’ Lenders Don’t Pre-Approve
Discover why Pre-Approval B Lenders offer a fresh start with alternative mortgage options for those with credit challenges in Canada.
Avoid Blacklisted Condos
A blacklisted condo is a condominium that certain mortgage lenders have categorized as high-risk and are unwilling to finance. Learn the reasons why a condo is blacklisted and what to do about it.
What is a Net Worth Program?
Learn what a Net Worth Program is and how it assists individuals with substantial net worth to qualify for a mortgage.
Sources of Home Down Payment
Discover reliable sources for your home down payment in Canada. Learn about savings options, grants, and assistance programs to make homeownership a reality.
Why Refinanced Mortgages Are Always Uninsured
Discover why refinanced mortgages in Canada are always uninsured and the opportunities refinancing your mortgage provide you.
Protecting Your Personal and Financial Information
Discover how Allen Ehlert protects your personal and financial information so you can be secure when applying for a mortgage knowing your information is safe and secure.
‘Consent to Second Mortgage’
Consent to Second Mortgage: Understanding the document that enables you to get a second mortgage.
Second Mortgage Hard No!
Second Mortgage Hard No! Discover when getting a second mortgage is either a bad idea or completely not allowed.
Fees: Receiving and Sending Money Internationally
When receiving or sending large amounts of money internationally from a Canadian chartered bank, several types of fees may apply. These fees can vary depending on the bank, the transfer amount, the destination country, and the method used.
Your House? Better Get Title Insurance
While most homebuyers are aware of closing costs, mortgage insurance, and property inspections, many overlook the critical role that title insurance plays in protecting their property ownership rights.
Understanding Market Rent
Understanding Market Rent: More homebuyers today rely on rental income to qualify for mortgages. If you’re one of them, you’ll often need a market rent report or rent letter to “prove” that income to the lender.
Allowances and Your Mortgage
Discover what an allowance is, the different types of allowances, and how allowances can support your mortgage application.
Understanding Exit Strategies
Understanding Exit Strategies. How getting out of a Private mortgage is more important as getting in.
Do You Need Title Insurance for a Condo?
Learn about the special risks that come with condominium ownership and while having title insurance is important.
When a Second Mortgage Makes Sense
Second Mortgage: When it Makes Sense and when and why it can be the better move.
Collateral Mortgage: How Much Collateral to Register?
Learn what a collateral mortgage is and how to determine how much collateral to register on a collateral mortgage.
Canada’s Employment Crisis
Mortgage agents are boots-on-the-ground financial professionals who know what is going on in the economy in real time. As I talk to people, I often feel like a counsellor, as people share with me what is going on in their lives and what is happening with their employment situation.
How I Structure Second Mortgages
Second Mortgage Structure: How I treat your second mortgage as a full mocrtgage file with structure, risk analysis and a clear strategy.
10 Reasons Canadians Refinance Their Mortgage
Every year, about 15% of Canadians refinance their mortgage to take advantage of better mortgage terms (reduced rate, amortization, or mortgage feature), improve their financial condition, buy out a partner, or take advantage of an investment or business opportunity.
The 5 C’s of Credit and Your Mortgage
Unlock the secrets to mortgage approval in Canada by mastering the 5 C’s of Credit, crucial for securing your dream home.
Is Title Insurance Transferrable?
Learn about the different types of title insurance available to Canadians. What their different purposes are, and whether title insurance is transferrable.
Rebuild Your Credit Using Credit Cards
Discover how to use credit cards strategically to rebuild bad or bruised credit.
Mortgage Challenges When You Are a Contractor
Many people today than ever work on contract. They usually are incorporated (especially if they want to work on government contracts), work through a recruiting firm for a client, invoice the recruiting firm for their hours, and pay themselves out of their...
What is Your Principal Residence
Everybody needs a place to live, a place to call home. Legally, a principal residence is defined as a property that you, your spouse or common-law partner, or your child ordinarily inhabit at some point during the year. The property can be a house, cottage,...
4 Ways To Refinance Your Mortgage
15% of Canadians refinance their mortgage every year. Learn about the 4 ways Canadians refinance their mortgage and discover which approach is right for you.
Understanding Bank Posted Rates
Understanding Bank Posted Rates. You can’t calculate your bank’s mortgage penalty without knowing your bank’s posted rates.
Breaking Your Mortgage: Canada vs United States
Discover the big difference between the costs Canadians pay to refinance their homes compared to the costs paid by Americans and why such a big difference.
Featured Publications
Articles
- Extended Amortizations and Hypothetical Calculations
Office of the Superintendent of Financial Institutions (OSFI) - Minimum Qualifying Rate for Uninsured Mortgages
Office of the Superintendent of Financial Institutions (OSFI) - Residential Mortgage Underwriting Practices and Procedures
Office of the Superintendent of Financial Institutions (OSFI) - Guideline on Existing Consumer Mortgage Loans in Exceptional Circumstances Financial Consumer Agency of Canada
Book: “The Program”
- Part 1 – Building Your Down Payment
- Part 2 – Mortgage Payoff Strategies
- Part 3 – Building Wealth Through Real Estate