by Allen Ehlert | July 2, 2026 | Mortgage Terms, Mortgages, Personal Finance
… What Your Contract Rate Isn’t Telling You About APR and EAR When you’re shopping for a mortgage, it’s easy to get laser-focused on the interest rate. You hear “4.79%” or “5.09%” and naturally assume the lower number is the better deal. Fair enough — that’s how most...
by Allen Ehlert | July 1, 2026 | Commercial, Economy, Mortgage Terms, Mortgages, Personal Finance, Real Estate
…. A Digital Deadbolt for Your Credit Ontario has just added a powerful new consumer-protection tool to your financial toolbox: the ability to lock or freeze your credit file. Think of it like putting a digital deadbolt on your credit report. It will not stop every...
by Allen Ehlert | June 30, 2026 | Mortgage Terms
A revolving loan is a type of credit that allows the borrower to access funds up to a predetermined credit limit on a recurring basis. Unlike a traditional loan, where you receive a lump sum upfront and repay it over time, a revolving loan allows you to borrow, repay,...
by Allen Ehlert | June 29, 2026 | Commercial, Mortgages, Real Estate
When you are selling one home and buying another, there are a lot of moving parts. You have the realtor, the mortgage agent, the deposit, the closing date, the moving truck, the insurance, the kids, the pets, the utility companies, and probably a dozen sticky notes on...
by Allen Ehlert | June 29, 2026 | Mortgage Terms, Mortgages, Personal Finance
As a professional mortgage underwriter in Canada, I often emphasize the importance of the Loan to Value (LTV) ratio in the mortgage qualification process. The LTV ratio is a critical factor in determining the terms of the mortgage for which a borrower qualifies,...
by Allen Ehlert | June 28, 2026 | Mortgage Terms, Mortgages, Real Estate
When considering the purchase of a condominium in Canada, it is essential for potential buyers to understand condominium fees. These fees are a significant component of condo ownership, affecting both budgeting and financing. Here, we will explore the nature of these...
by Allen Ehlert | June 27, 2026 | Mortgage Terms
In the context of U.S. tax law, a resident alien is a foreign national who is not a U.S. citizen but who meets certain criteria to be treated as a U.S. resident for tax purposes. Resident aliens are generally subject to the same tax rules as U.S. citizens, meaning...
by Allen Ehlert | June 26, 2026 | Investing, Mortgage Terms, Mortgages, Personal Finance, Real Estate, Uncategorized
“Wait… We’re Paying Land Transfer Tax Again?” A lot of homeowners think adding a HELOC is just paperwork. You sign a few documents, the lawyer registers a new charge, and away you go. Easy peasy, right? Well… sometimes. But every now and then, a refinance or HELOC...
by Allen Ehlert | June 25, 2026 | Mortgage Terms, Mortgages
The mortgage pre-approval process is the process taken to get a borrower a pre-approval letter from a lender. It’s important to understand that being pre-approved for a mortgage requires a vigorous investigation of the borrower’s personal, financial, tax, and...
by Allen Ehlert | June 24, 2026 | Mortgage Terms, Mortgages
When purchasing a home in Canada, one of the most significant decisions buyers face is how much to put down as a down payment. While a 20% down payment might seem like the ideal, it’s often out of reach for many Canadians—especially first-time homebuyers. This is...
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,...
