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 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 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 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 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 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, 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...
