by Allen Ehlert | June 1, 2026 | Mortgage Terms, Mortgages
The mortgage discharge statement is an important document that ensures transparency and accuracy when calculating the total payout for a mortgage transfer. It is critical for refinancing, selling a property, transferring a mortgage, or paying off a mortgage by...
by Allen Ehlert | May 28, 2026 | Mortgage Terms, Mortgages, Personal Finance
When Canadians start shopping for a mortgage, one of the first questions they often ask is, “What’s your best rate?” It’s a natural question—after all, interest rates directly affect monthly payments and the overall cost of a home loan. However, focusing...
by Allen Ehlert | May 27, 2026 | Mortgage Terms, Mortgages
In today’s market, potential homebuyers are not only dealing with high property prices but also facing increasingly stringent lending criteria, brought about by measures such as anti-money laundering legislation, higher loan amounts, and extended loan ratios. The...
by Allen Ehlert | May 24, 2026 | Mortgage Terms, Mortgages, Real Estate
For anyone interested in real estate—whether you’re a realtor, a financial professional, or a homebuyer—condominiums represent a significant portion of the housing market, especially in urban centres. However, not all condos are created equal. Some condos in Canada...
by Allen Ehlert | May 23, 2026 | Mortgage Terms
In Canada, Accumulated Income Payments (AIPs) refer to the income earned on the contributions made to a Registered Education Savings Plan (RESP) that is withdrawn when the funds are not used for the intended purpose of funding a beneficiary’s post-secondary education....
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 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 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 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 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...
