by Allen Ehlert | August 18, 2026 | Mortgage Terms, Mortgages, Real Estate
When purchasing a condo, buyers often focus on factors like location, amenities, and square footage. However, one of the most critical aspects that can impact both the value and financial health of a condo is the reserve fund. A condo reserve fund is a crucial...
by Allen Ehlert | August 17, 2026 | Mortgage Terms
An Employee Stock Ownership Plan (ESOP) is a type of employee benefit plan that gives workers ownership interest in the company. In an ESOP, companies provide their employees with stock ownership, often at no upfront cost to the employees. ESOPs are typically used as...
by Allen Ehlert | August 11, 2026 | Mortgage Terms, Mortgages, Personal Finance
A Home Equity Line of Credit (HELOC) is not a traditional mortgage but a type of revolving credit secured against the equity in your home. Canadians are very creative in their use of HELOCs using them for everything from investing, to debt consolidation, to using...
by Allen Ehlert | August 10, 2026 | Mortgage Terms
In Canada, the liquidity ratio refers to a financial metric used to measure an individual’s or a company’s ability to cover short-term obligations with their liquid assets. Liquid assets are those that can be quickly converted into cash without significant loss in...
by Allen Ehlert | August 9, 2026 | Mortgage Terms, Mortgages, Personal Finance
When entering the world of homeownership, understanding the dynamics of your mortgage is crucial for financial planning. Among the key concepts in mortgage management is amortization. This article aims to demystify mortgage amortization, differentiate it from the...
by Allen Ehlert | August 7, 2026 | Mortgage Terms
In Canada, an exempt contribution typically refers to contributions made to certain types of registered accounts that do not trigger immediate tax consequences or that do not count against contribution limits in specific situations. The term is most commonly...
by Allen Ehlert | August 6, 2026 | Mortgage Terms, Mortgages, Personal Finance
Home buying is a naturally expensive thing to be doing. You not only have to pay for the house, but you have substantial closing costs as well. You might want to make your new house ‘home ready’ by getting a few new pieces of furniture and don’t forget new window...
by Allen Ehlert | August 3, 2026 | Mortgage Terms
A zero-percent loan is a type of loan where the borrower is not charged any interest over the life of the loan. Essentially, the borrower repays only the principal amount borrowed, with no additional cost for interest. Zero per cent loans are often used as promotional...
by Allen Ehlert | August 2, 2026 | Mortgage Terms, Mortgages, Personal Finance
An emergency fund is an essential financial safety net designed to cover unexpected expenses or financial disruptions without the need to incur debt. It acts as a buffer that can help you maintain your financial stability during unforeseen circumstances such as job...
by Allen Ehlert | August 1, 2026 | Mortgage Terms, Personal Finance
An open-end lease is a type of vehicle lease agreement where the lessee (the person leasing the vehicle) is responsible for the difference between the residual value of the vehicle (the estimated value of the vehicle at the end of the lease term) and the actual market...
by Allen Ehlert | July 31, 2026 | Mortgage Terms
A term loan is a type of loan where the borrower receives a lump sum of money upfront and agrees to repay it over a specified period, or “term,” with fixed or variable interest payments. The term can range from a few months to several years, depending on...
by Allen Ehlert | July 30, 2026 | Mortgage Terms, Mortgages, Personal Finance
In Canada’s diverse mortgage landscape, borrowers have a plethora of options ranging from traditional prime lenders to innovative alternative lending solutions. The rise of alternative lenders has been particularly notable, offering unique advantages that cater...
by Allen Ehlert | July 29, 2026 | Mortgage Terms, Mortgages, Personal Finance
… Keep the Rate, and the House When a marriage ends but the home still makes sense financially and emotionally, the question becomes: how do you keep the house without blowing up the mortgage? One of the most elegant solutions is something called a mortgage...
by Allen Ehlert | July 28, 2026 | Mortgage Terms, Mortgages, Personal Finance
The mortgage stress test, as mandated by the Office of the Superintendent of Financial Institutions (OSFI), primarily applies to federally regulated financial institutions, such as banks. However, private mortgage lenders, which are not federally regulated, are not...
by Allen Ehlert | July 19, 2026 | Mortgage Terms, Mortgages, Personal Finance, Real Estate
Navigating the world of mortgages can be daunting for both new and seasoned homeowners. A fundamental aspect of any mortgage is the “mortgage term,” which dictates several key financial decisions and outcomes over the course of homeownership. My goal in...
