by Allen Ehlert | June 23, 2026 | Mortgage Terms
A floatdown is an option or feature that allows a borrower to “lock in” a lower interest rate after they have already committed to a mortgage rate, should interest rates drop before their mortgage is finalized. This option provides some flexibility for...
by Allen Ehlert | June 22, 2026 | Mortgage Terms, Mortgages
Did you know breaking a mortgage contract in Canada can cost thousands, even tens of thousands of dollars? This unexpected cost can surprise many homeowners, especially those with fixed-rate mortgages. Mortgage penalties are fees for breaking your mortgage contract...
by Allen Ehlert | June 21, 2026 | Mortgage Terms, Mortgages
Finding a mortgage agent with a strong online presence is important for several reasons, especially in today’s digital world where clients often begin their search for services online. A strong online presence can be an indicator of a mortgage agent’s credibility,...
by Allen Ehlert | June 20, 2026 | Mortgages, Personal Finance
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...
by Allen Ehlert | June 19, 2026 | Mortgage Terms
An earnings statement, also known as a payslip or pay stub, includes various information detailing an employee’s earnings, deductions, and other relevant financial details for a specific pay period. Mortgage agents review and compare the information on an...
by Allen Ehlert | June 18, 2026 | Mortgage Terms, Mortgages, Personal Finance
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...
by Allen Ehlert | June 17, 2026 | Mortgages, Personal Finance
When shopping for a mortgage, or any loan for that matter, it is important to think like a bank. When it comes to securing a mortgage, most people don’t realize they’re stepping into a sophisticated business game. Banks are experts at maximizing profits, and unless...
by Allen Ehlert | June 16, 2026 | Mortgages, Personal Finance, Real Estate
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...
by Allen Ehlert | June 15, 2026 | Personal Finance, Real Estate
No. It may seem like it is illegal, like a scam, but the truth is many people in Toronto’s competitive rental market and other places are paying up to a year’s worth of rent to secure a quality residence. In Ontario, a landlord is only legally permitted to request...
by Allen Ehlert | June 14, 2026 | Mortgages, Personal Finance
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...
by Allen Ehlert | June 13, 2026 | Mortgage Terms
When a lender grants a client a mortgage pre-approval, they provide a formal document outlining the preliminary terms under which they are willing to lend money to the borrower for purchasing a home. A pre-approval is based on the borrower’s financial situation,...
by Allen Ehlert | June 12, 2026 | Mortgages
Who can give you the best mortgage? It’s the biggest financial commitment you’ll ever make. In Canada, there are literally hundreds of mortgage lenders out there offering thousands of different mortgages. Every day, more products are being introduced while others fade...
by Allen Ehlert | June 11, 2026 | Mortgage Terms, Mortgages, Real Estate
Condotels, or condo/hotel hybrids, have piqued the interest of many Canadians, particularly those seeking a flexible investment opportunity. These unique properties offer the ability to enjoy personal use while generating short-term rental income. Whether you’re a...
by Allen Ehlert | June 10, 2026 | Mortgage Terms, Mortgages, Personal Finance
When it comes to mortgages and interest rates, small shifts can significantly impact financial outcomes. These changes are often measured in “basis points” (bps), a term frequently used but not always understood. For Canadian realtors, financial...
by Allen Ehlert | June 9, 2026 | Mortgage Terms
In Canada, a Segregated Fund Annuity Contract is a type of investment product offered by insurance companies that combines the growth potential of mutual funds with the security of an insurance policy. Segregated funds are similar to mutual funds but come with...
by Allen Ehlert | June 8, 2026 | Mortgages, Personal Finance, Realtor
Did you know the average Canadian household spends almost $200 monthly on utilities? This fact is important when looking at utility costs across Canada’s provinces. Knowing what utilities cost is key for budget planning or making your home more energy-efficient....
by Allen Ehlert | June 7, 2026 | Mortgage Terms
In Canada, the Assistance Holdback Amount typically refers to a portion of a financial assistance grant or loan that is withheld by the government or lending institution until certain conditions are met. This concept is most commonly seen in government programs,...
by Allen Ehlert | June 6, 2026 | Mortgages
Purchasing a home is one of the biggest financial decisions Canadians make, whether it’s your first property, an investment, or a new place to call home. Yet, many start their journey by looking at listings or visiting open houses before knowing what mortgage...
by Allen Ehlert | June 5, 2026 | Mortgages
Getting a mortgage in Canada used to be a fairly easy process. You grabbed a couple of pay stubs, got an employment letter from your HR department, and you were good to go. A lot of older Canadians remember applying for a mortgage was just that way. Not anymore. Today...
by Allen Ehlert | June 4, 2026 | Mortgage Terms, Mortgages, Personal Finance, Real Estate
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...
by Allen Ehlert | June 3, 2026 | Mortgage Terms
In Canada, a Graduated Rate Estate (GRE) is a special designation under the Income Tax Act that applies to the estate of a deceased individual for a specific period of time after their death. This designation allows the estate to benefit from graduated income tax...
