Personal Finance
Securing Your Today and Tomorrow
Understanding Amortization
Understanding Amortization: This article aims to demystify mortgage amortization, differentiate it from the mortgage term, provide insights into how amortization schedules work, and explain how various payment strategies can impact your financial obligations over the life of your mortgage.
What Happens When the Mortgage Falls Apart?
It’s one of the scariest “what if” scenarios in real estate: the buyer waives the financing condition, the deal goes firm, and then… BAM! The lender says, “Sorry, we can’t fund this anymore.” Suddenly, everyone’s scrambling—buyers, sellers, agents, lawyers—and what started as a celebration becomes a nightmare of deposits, lawsuits, and finger-pointing.
Understanding ‘Approval’ Terminology
If you’ve ever been through the mortgage process, you’ve probably heard people throwing around words like pre-qualification, pre-approval, commitment, and funding like they’re all interchangeable. Spoiler alert: they’re not. And if you don’t understand the difference, you could find yourself in hot water right when you’re trying to buy your dream home.
Strive: Rental Property Lender
As a licensed mortgage agent committed to helping Canadians build long-term wealth through real estate, I make it a priority to introduce my clients to lenders who think beyond rigid formulas — lenders who understand the unique needs of rental property investors. One such lender making a name for itself across Canada is Strive.
Doing the Financial Work
You’ve got a lot on your plate—family, work, keeping the house in one piece—and then a mortgage renewal letter shows up. At first glance, it feels like a gift: a quick signature and you’re done for another five years. But here’s the thing—that first offer from your lender? It’s almost never their best. They’re betting you won’t question it. They’re counting on you not wanting to “do the financial work.”
Spousal Buyout Calculator User Guide
When those relationships end, the emotional toll is heavy—but the financial questions can hit just as hard. Who gets the house? How much is one partner entitled to? Can one partner afford to buy the other out without selling the family home?
That’s where Allen Ehlert’s Ultimate Canadian Spousal Buy Out Calculator comes in. It’s designed to take some of the mystery—and stress—out of a separation by giving you the numbers you need to move forward. Whether you’re divorcing or separating as common-law partners, this calculator helps you figure out exactly what a buyout looks like.
Non-Resident Speculation Tax Rebate
Foreign buyers who have paid the 25% Non-Resident Speculation Tax (NRST) may be eligible for a full rebate if they meet specific residency, employment, or education requirements within a set period. The Ontario government provides these rebates to encourage long-term...
Spousal Buyout Mortgages: Start Fresh
A spousal buyout mortgage is a smart solution that lets one spouse keep the home, refinance the mortgage, and pay out the other spouse’s equity.
“We’re Splitting Up and Selling the House—Now What?”
Divorce is never simple—but when real estate’s involved, things can get especially tangled. If you’re in the middle of a separation and you and your ex have decided to sell the home and go your separate ways, the big question becomes:
“How do we actually make this happen—without turning it into a financial disaster?”
“Can I Rent Out My Home If I Said It Would Be Owner-Occupied?”
It may be possible to rent out your home even if you told your lender it would be owner occupied. Let me show you how…
You Can’t Afford to Divorce
Right now, there are people all across the country wondering about the future of their marriage and whether they should stay married. I am not in a position to give any sort of marriage counselling, but I can tell you about your financial options, especially when it comes to your home and your mortgage. And your options are few and far between. Divorce. Spousal Buyout.
“We’re Getting Divorced… What Happens to the Mortgage?”
Divorce is hard. Emotions run high, there’s a lot of paperwork, and suddenly, questions about money become front and centre—especially around the mortgage. Whether you’re staying civil or things have gotten messy, navigating the financial side of a separation is no walk in the park. But if you’ve got a mortgage together, you need to know what happens next.
It’s Worth Getting Your Docs Together
Let’s break down how a little effort today—getting your documents together—can pay off in a big way over time. Spoiler: it’s not just about rate, it’s about real dollars saved, better options unlocked, and smarter financial planning.
Understanding Scotia Creditor Insurance
Today, I want to introduce you to a valuable, yet often misunderstood, offering from one of Canada’s Big Five banks: Scotiabank’s Creditor Insurance. Whether you’re a first-time buyer, refinancing, or renewing your mortgage, understanding what this insurance entails could change the way you think about mortgage protection.
Riding Out the Storm
Hard Economic Times. Life has its ups and downs, and so do economies. Just like the seasons change, so too do financial cycles—sometimes we’re basking in the sunshine of growth, and sometimes we’re caught in the storm clouds of a recession. The truth is, hard times are not a fluke—they’re a normal, expected part of the economic cycle. If you own a home, or you’re planning to, being prepared for those stormy patches can make all the difference between riding them out comfortably or getting knocked off course.
Using Foreign Income
Some Canadian lenders may consider foreign income when underwriting a mortgage, but there are strict guidelines and additional documentation requirements. Many will not. Whether a lender accepts foreign income and the limitations on accepting such depends on their...
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