by Allen Ehlert | May 28, 2026 | Mortgage Terms, Mortgages, Personal Finance
When Canadians start shopping for a mortgage, one of the first questions they often ask is, “What’s your best rate?” It’s a natural question—after all, interest rates directly affect monthly payments and the overall cost of a home loan. However, focusing...
by Allen Ehlert | May 27, 2026 | Mortgage Terms, Mortgages
In today’s market, potential homebuyers are not only dealing with high property prices but also facing increasingly stringent lending criteria, brought about by measures such as anti-money laundering legislation, higher loan amounts, and extended loan ratios. The...
by Allen Ehlert | May 26, 2026 | Lender, Mortgages, Personal Finance
… Get into the minds of mortgage lenders When it comes to second mortgages in residential lending, most people assume it’s simply a question of qualification. It’s not. It’s a question of how lenders think about risk. Every lender—from the major banks to private...
by Allen Ehlert | May 25, 2026 | Mortgages
Please note: The mortgage market is a fast-evolving ever shifting landscape. ‘B’ lenders are starting to move into the pre-approval space as the line between prime lenders and alternative lenders continues to be blurred. Most alternative lenders do not...
by Allen Ehlert | May 24, 2026 | Mortgage Terms, Mortgages, Real Estate
For anyone interested in real estate—whether you’re a realtor, a financial professional, or a homebuyer—condominiums represent a significant portion of the housing market, especially in urban centres. However, not all condos are created equal. Some condos in Canada...
by Allen Ehlert | May 23, 2026 | Mortgage Terms
In Canada, Accumulated Income Payments (AIPs) refer to the income earned on the contributions made to a Registered Education Savings Plan (RESP) that is withdrawn when the funds are not used for the intended purpose of funding a beneficiary’s post-secondary education....
by Allen Ehlert | May 22, 2026 | Mortgages, Personal Finance, Real Estate
How do you get a mortgage when you have a lot of assets, because you are relatively wealthy, so much so, that you don’t have to work? Nice problem to have! But here’s the thing, most conventional mortgages require you to have a substantial income so you can make...
by Allen Ehlert | May 21, 2026 | Mortgage Terms
In Canada, a Qualified Investment for a Registered Disability Savings Plan (RDSP) refers to the types of investments that are eligible to be held within an RDSP account. These investments are regulated by the Canada Revenue Agency (CRA) to ensure that the funds within...
by Allen Ehlert | May 20, 2026 | Mortgages, Personal Finance, Real Estate
In Canada, saving for a down payment is considered one of the biggest challenges for many aspiring homeowners. According to recent surveys, around 76% of Canadians planning to buy a home in the next five years say saving for a down payment is their primary financial...
by Allen Ehlert | May 19, 2026 | Mortgages, Personal Finance
Canadians frequently need to refinance their mortgage. In fact, each year,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...
by Allen Ehlert | May 18, 2026 | Mortgage Terms
A recourse loan is a type of loan where the lender has the right to pursue the borrower’s other assets beyond the collateral if the borrower defaults on the loan. This means that if the borrower fails to repay the loan and the value of the collateral (such as a home...
by Allen Ehlert | May 17, 2026 | Mortgages, Personal Finance
When applying for a mortgage, you are required to provide a large amount of personal and financial information to be approved and receive financing. As our world has become increasingly complex and the loan amounts have increased substantially, the amount of...
by Allen Ehlert | May 16, 2026 | Mortgage Terms, Mortgages, Personal Finance
… “Wait—You Need Permission for That?” Introduction (Client Conversation Style) If you’re thinking about adding a second mortgage, there’s something important we need to talk about—because this is where a lot of people get caught off guard and because not everyone out...
by Allen Ehlert | May 15, 2026 | Mortgage Terms, Mortgages, Personal Finance
… When a Second Mortgage Is a Hard No A second mortgage can be a powerful tool. Used correctly, it can preserve a great first mortgage, unlock equity, and give you flexibility without restructuring your entire financial position. But here’s the part most people don’t...
by Allen Ehlert | May 14, 2026 | Mortgages, Personal Finance
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. Learn how to send money...
by Allen Ehlert | May 13, 2026 | Mortgage Terms
The IRS Form W-8BEN is a form used by foreign individuals to certify their non-U.S. status for tax purposes and to claim any applicable benefits under an income tax treaty between their country of residence and the United States. The full name of the form is...
by Allen Ehlert | May 12, 2026 | Insurance, Mortgage Terms, Mortgages, Real Estate
Title insurance is one of the most important yet often misunderstood components of the real estate purchase process in Canada. While most homebuyers are aware of closing costs, mortgage insurance, and property inspections, many overlook the critical role that title...
by Allen Ehlert | May 11, 2026 | Mortgage Terms
A large, lump-sum payment due at the end of a mortgage’s term. You make a balloon payment when you pay out your mortgage, renew, refinance, or transfer your mortgage to another lender for better rates and terms. A balloon payment is often part of loans that have lower...
by Allen Ehlert | May 10, 2026 | Mortgage Terms
In Canada, blend and extend is a mortgage refinancing option offered by some lenders that allows homeowners to extend their mortgage term and blend their current mortgage interest rate with a new interest rate. This option is often used by homeowners who want to take...
by Allen Ehlert | May 9, 2026 | Commercial, Investing, Mortgage Terms, Mortgages, Personal Finance, Real Estate
…. Market Rent Appraisals in Mortgages 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. So allow me to go over: When and why lenders...
by Allen Ehlert | May 8, 2026 | Mortgages, Personal Finance
Allowances are additional payments provided by an employer to an employee, often to cover specific expenses related to the job. On a Canadian paystub, allowances typically appear in the earnings section, either as part of the gross pay or as a separate line item,...
