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,...
by Allen Ehlert | May 7, 2026 | Mortgage Terms, Mortgages, Personal Finance
… Know the Door Out Before You Walk In When you’re looking at a Private or Heavy Alt mortgage, it’s easy to zero in on the approval and feel relieved once somebody says yes. But in my part of the mortgage world, the real question is not just can you get in—it’s how...
by Allen Ehlert | May 6, 2026 | Insurance, Mortgages, Real Estate
Living in a central location, enjoying the amenities, not having to shovel snow—there’s lots to love about owning a condo. But don’t forget: your condo needs protection just like a house would. In fact, condo units carry risks that freehold properties don’t because of...
by Allen Ehlert | May 5, 2026 | Mortgage Terms, Mortgages, Personal Finance
… And Why It Can Be Smarter Than Refinancing or a HELOC Most borrowers don’t start by asking for a second mortgage. They start by asking a simpler question: “How do I access equity in my property?” And typically, they’re presented with two options: Refinance the...
by Allen Ehlert | May 4, 2026 | Mortgages, Personal Finance
The amount of collateral registered for a collateral mortgage typically depends on the lender’s policy and the borrower’s financial circumstances. Generally, lenders may register a collateral mortgage for up to 100% or even 125% of the property’s value....
by Allen Ehlert | May 3, 2026 | Mortgage Terms, Personal Finance
A closed-end lease, also known as a “walk-away” lease, is a type of vehicle lease agreement where the lessee (the person leasing the vehicle) is not responsible for the vehicle’s residual value at the end of the lease term. Instead, the lessee can...
by Allen Ehlert | May 2, 2026 | Economy, Mortgages, Personal Finance, Real Estate
Mortgage agents are boots-on-the-ground financial professionals who know what is going on in the economy in real time. I spend a big part of my day talking to clients, looking at employment letters, T4s, pay stubs, tax returns, etc. to understand my clients, qualify...
by Allen Ehlert | May 1, 2026 | Mortgage Terms, Mortgages, Personal Finance
…What Goes On Behind the Scenes When I help you with a second mortgage, I want you to understand something: This is not a quick add-on. I don’t treat it like a simple top-up or shortcut. I treat it as a full mortgage file, with structure, risk analysis, and a clear...
