Personal Finance

Securing Your Today and Tomorrow

Housing as Income Percentage

Financial planners generally advise spending no more than 28% to 30% of your gross monthly income on housing. This guideline is known as the "front-end ratio" and primarily covers housing expenses like mortgage payments, property taxes, homeowner's insurance, and...

Accessing Your Credit Score

In Canada, understanding and monitoring your credit score is crucial for managing your financial health. This score, a numerical representation of your creditworthiness, impacts various aspects of your financial life, from securing loans to negotiating better terms on...

Mortgages: You Better Shop Around

When shopping for a mortgage it is important to think like a bank. Don’t pay the loyalty penalty, get the advantage of having Allen Ehlert shop the market and get you your best mortgage

Property Tax Calculations

Understanding property taxes and their calculations in Canada is essential for homeowners, prospective buyers, and real estate professionals alike. Property taxes are a significant source of revenue for municipalities and directly impact local services and...

Is It a Scam to Pay a Full Year’s Rent in Advance?

Learn what is legal and what is practised when competing for a place to rent.

10 Commandments of Mortgages

Looking to buy your new home is an exciting experience. All the possibilities. You look and you look and you look. You go to open houses, have your realtor take you into house after house, then all of of sudden you walk into one house and bang it hits you, home! You...

Basis Points: Key to Smarter Mortgage Decisions

Learn what basis points are, why they are used and their impact on the mortgage application process.

Canadian Utilities Costs

Explore the cost of utilities in Canada to manage your household expenses better. Gain insights into average rates and cost-saving strategies.

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.

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

Mortgage Term: Closed-End Lease

May 3, 2026

Discover what a closed-end lease is and the options and benefits.

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The Cost of Mortgage Refinancing

Refinancing a mortgage in Canada can be a powerful financial tool, whether a homeowner is looking to access equity, lower their interest rate, or consolidate debt. However, it’s essential to understand the costs associated with refinancing before making a decision....

Non-Conforming Apartment Income

As a mortgage agent who underwrites mortgages, I’ve come across countless applications where homeowners and investors alike want to leverage rental income from basement suites or converted spaces to boost their borrowing power. It's a smart move in theory, but the...

What is a Second Mortgage?

A second mortgage is a loan that is secured against a property that already has an existing mortgage. It is considered "second" because it is subordinate to the first mortgage in terms of priority—meaning that if the homeowner defaults, the first mortgage lender gets...

Getting a Second Mortgage

If you have a first mortgage, can you just go out and get a second mortgage? The short answer is not always. While it is possible to obtain a second mortgage if you already have a first mortgage, several factors must align for you to qualify. You cannot simply go and...

Temporary Worker Mortgage Application

Temporary workers in Canada—those employed on a fixed-term contract, through an agency, or seasonally—often face additional challenges when applying for a mortgage. Because lenders prefer stable, long-term employment, temporary workers are seen as higher-risk...

Using Foreign Funds for Down Payment

Owning property in Canada is an attractive prospect for many, from newcomers and investors to Canadian expatriates looking to return home. However, financing a mortgage with funds sourced from outside of Canada presents unique challenges. Lenders, banks, and...

What Kind of Employee Are You?

Employment in Canada is not a monolithic concept. It is a dynamic structure shaped by economic demands, industry standards, and government regulations. Whether someone is a salaried professional, a contract-based consultant, or a gig worker juggling multiple roles,...

Getting Mortgage Documents Translated

In Canada, the mortgage application process is highly regulated, requiring strict compliance with financial and legal documentation standards. For borrowers whose mortgage application documents are in a language other than English or French, lenders demand certified...

Is Ontario’s 407ETR the World’s Most Expensive Highway?

Real Estate > Personal Finance > Mortgage The 407 ETR (Express Toll Route) in Ontario, Canada, is renowned for its cost, often considered one of, if not the most expensive toll roads in the world. If you ask a person in Ontario, they will tell you they think the...

How Assets Support a Mortgage

Securing a mortgage in Canada has long been an income-driven process. Lenders scrutinize pay stubs, tax returns, and employment history to determine whether a borrower qualifies. However, in today’s evolving financial landscape, assets play an increasingly significant...

Canada Child Benefit and Your Mortgage

Raising a family in Canada comes with significant financial responsibilities, from childcare costs to daily household expenses. For many families, the Canada Child Benefit (CCB) serves as a crucial financial lifeline, providing tax-free monthly payments to support...

Price of Commuting: The Daily Journey into Toronto

Real Estate > Personal Finance > Mortgage In the golden light of dawn, while much of Ontario still slumbers, thousands of commuters from suburbs like Whitby and Oakville embark on their daily pilgrimage to Toronto. This journey, often romanticized as a quest for...

Price of Commuting: Lost Time, Lost Life

Real Estate > Personal Finance > Mortgages In the bustling city of Toronto, like many other major cities around the world, the daily commute is an accepted part of working life, especially for those living in the suburbs. However, this seemingly mundane aspect...

What Does the Stress Test Prevent?

What could happen OSFI did not mandate the implementation of the stress test? If the Office of the Superintendent of Financial Institutions (OSFI) had not mandated the implementation of the mortgage stress test in Canada, several potential risks and consequences could...

Difference between the Economy and Markets

The stock market and the economy may appear to be closely interconnected, but are they truly? Let's unravel the intriguing dynamics and discover the stark differences. The Analogy of the Man and the Dog New York Trader Josh Brown uses the description of a man walking...