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...
by Allen Ehlert | June 2, 2026 | Mortgage Terms, Mortgages, Personal Finance, Real Estate
“Think you’re ready to buy your dream home? Well, hold on a minute! There’s a document that could make—or completely break—your deal: the mortgage commitment letter. If you don’t know what it is or why it’s so important, stick around, because I’m about to...
by Allen Ehlert | June 1, 2026 | Mortgage Terms, Mortgages
The mortgage discharge statement is an important document that ensures transparency and accuracy when calculating the total payout for a mortgage transfer. It is critical for refinancing, selling a property, transferring a mortgage, or paying off a mortgage by...
by Allen Ehlert | May 31, 2026 | Mortgages, Personal Finance, Real Estate
Gifts are often restricted or treated with caution in Net Worth Programs for a few key reasons. Since these programs focus heavily on a borrower’s financial strength and stability, lenders want to ensure that the assets being used to qualify for the mortgage are...
by Allen Ehlert | May 29, 2026 | Mortgages, Personal Finance, Real Estate
John and Mary Canuck have aspirations of improving their financial position, enhancing their future financial security, and generating wealth by using the existing equity in their home to purchase a new home to live in and rent out the home they presently live in....
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...
