by Allen Ehlert | July 3, 2026 | Mortgage Terms
In Canada, gifts in kind refer to non-cash donations of tangible property, such as real estate, stocks, art, or other valuable assets, made to a charity or other qualified organization. These donations are valued at their fair market value at the time of the gift and...
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 | 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 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...
