Personal Finance
Securing Your Today and Tomorrow
Lenders’ View: Second Mortgages
Lenders’ View: Second Mortgages. Every lender views second mortgages through a completely different lens of risk, control and structure.
Appraisal Nightmare: Falling Home Prices
Explore how new construction impacts your home’s value and what to do if the appraisal falls short in the current market.
Why Big Banks Love Collateral Mortgages
Collateral Mortgage You know how it goes. You walk into a bank, they greet you with a smile, and before you know it, you’re pre-approved, papers in hand, and ready to sign. The banker casually mentions, “Oh, and your mortgage will be registered as a collateral charge—that’s just how we do things now.”
Who is the Working Poor… It’s Probably You!
You’re doing everything right—working full-time, paying your bills, maybe even picking up a side hustle. But despite the long hours and steady income, you still feel like you’re barely treading water. Sound familiar? You’re not alone. Across Canada, more and more hardworking people are realizing that a decent income no longer guarantees financial stability—especially when it comes to owning a home.
Hard vs Soft Credit Pull
Discover the impact of Hard vs. Soft Credit Pull on your score and how they affect your financial health in Canada. Stay informed with our guide.
Don’t Borrow to Buy!!!
RRSP Loans: You’ve probably seen the video clips on social media: someone cheerfully explaining how you can “stop using your own money” to buy a home. The idea sounds clever — borrow up to $50,000 from the bank, dump it into your RRSP, claim a juicy tax refund, then pull it back out 90 days later under the Home Buyers’ Plan (HBP) for your down payment. It’s marketed as a hack to get into the market faster, maybe even with “free money.”
Buying Out Your Ex: What Happens to the Mortgage During a Divorce?
“Hey Allen, I’m keeping the house, and I’m buying my ex out… What happens to the mortgage? Can I even afford it? Are there penalties?”
Let’s break it down step by step—with plain language, real talk, and expert insight—so you know what to expect if you’re the one staying put and buying your former partner out.
What’s Fair Market Rent?
If you’ve ever tried to use rental income — from a basement apartment, duplex, or investment property — to help you qualify for a mortgage, you’ve probably heard the term “Fair Market Rent.” It sounds official because it is. But it’s also one of those terms that can catch people off guard if they’re not properly prepared.
The Depreciating Canadian Dollar
Depreciating Dollar. Let’s talk about something that’s been quietly eating away at Canadians’ financial future — purchasing power. Sure, your income might rise over time, and the news might say inflation’s “under control.” But if you’ve ever wondered why your parents could buy a house on one income while you’re grinding just to save a down payment, the answer isn’t as simple as the Consumer Price Index (CPI).
Top Credit Score Myths
Discover the truth about Credit Score myths and learn how to gauge your creditworthiness accurately for better financial health.
How Maternity Leave Impacts Your Mortgage
If you’re thinking about buying a home, refinancing, or renewing your mortgage and there’s a baby on the horizon, you might be wondering how maternity or paternity leave fits into the picture. The truth? Lenders love stability — and nothing signals “change” quite like stepping away from your full-time salary to focus on your family, even temporarily.
Smart Ways to Pay Off Credit Card Debt
Smart Ways to Payy off Credit Card Debt. If you’re staring down a mountain of credit card debt — say $60,000 or so — you’re not alone. Between rising living costs, high interest rates, and a few life curveballs, it doesn’t take much for balances to spiral out of control. When that happens, most people start thinking, “Maybe I should just use my home equity to wipe this out.”
How to Write Off Mortgage Interest in Canada
Unlock tax benefits by learning how to write off your mortgage interest in Canada. Follow my guide for smart tax deductions and relief strategies.
Comparing Co-Signor and Guarantor
In Ontario, Canada, the obligations to pay when a mortgage payment is missed differ between a guarantor and a co-signer. Understanding the differences between these roles can help clarify the responsibilities involved in guaranteeing or co-signing a mortgage.
Don’t Get Your HELOC There!
Don’t get your HELOC there! It seems logical. You know the bank, they know you, and it feels easier to keep everything under one roof. But just because something’s convenient doesn’t mean it’s smart. When it comes to tapping your home equity, the bank that holds your mortgage might not actually give you the best deal — or the most flexibility.
How Canada’s Prime Rate Impacts You
Explore how Canada’s Prime Rate affects your mortgage, investments, and savings. Stay informed and manage your finances with confidence.
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