by Allen Ehlert | October 23, 2026 | Mortgage Terms, Mortgages, Personal Finance
Temporary workers in Canada—those employed on a fixed-term contract, through an agency, or seasonally—often face additional challenges when applying for a mortgage. Because lenders prefer stable, long-term employment, temporary workers are seen as higher-risk...
by Allen Ehlert | October 22, 2026 | Mortgage Terms, Mortgages, Personal Finance
A second mortgage is a loan that is secured against a property that already has an existing mortgage. It is considered “second” because it is subordinate to the first mortgage in terms of priority—meaning that if the homeowner defaults, the first mortgage...
by Allen Ehlert | October 20, 2026 | Mortgage Terms, Mortgages, Personal Finance
If you have a first mortgage, can you just go out and get a second mortgage? The short answer is not always. While it is possible to obtain a second mortgage if you already have a first mortgage, several factors must align for you to qualify. You cannot simply go and...
by Allen Ehlert | October 19, 2026 | Home Specifications, Lender, Mortgage Terms, Mortgages, Personal Finance, Real Estate
As a mortgage agent who underwrites mortgages, I’ve come across countless applications where homeowners and investors alike want to leverage rental income from basement suites or converted spaces to boost their borrowing power. It’s a smart move in theory, but...
by Allen Ehlert | October 15, 2026 | Mortgages, Personal Finance
Breaking a mortgage in Ontario, Canada, before the end of its term can lead to significant penalties. It’s important to understand these penalties and how they are calculated. Here are the key points to consider: Types of Penalties Interest Rate Differential...
by Allen Ehlert | October 14, 2026 | Mortgages, Personal Finance, Real Estate
Locking in a good mortgage rate is a key step in the home-buying process, especially in a fluctuating interest rate environment. Here are steps and strategies to help you secure a favourable rate: Understand Rate Locks Monitor Interest Rates Improve Your Credit Score...
by Allen Ehlert | October 13, 2026 | Mortgages, Personal Finance
When opting for a variable-rate mortgage, it’s important to have strategies in place to manage the potential fluctuations in interest rates and to maximize the benefits of this type of mortgage. In this article, let me give you 10 effective strategies to help...
by Allen Ehlert | October 12, 2026 | Mortgage Terms, Mortgages, Personal Finance
Refinancing a mortgage in Canada can be a powerful financial tool, whether a homeowner is looking to access equity, lower their interest rate, or consolidate debt. However, it’s essential to understand the costs associated with refinancing before making a decision....
by Allen Ehlert | October 10, 2026 | Mortgages, Personal Finance
Ahmed and his wife, Aisha, recently immigrated to Canada from the UAE and settled in Mississauga, Ontario. Ahmed secured a high-paying job in IT, earning $120,000 per year, while Aisha works remotely as a consultant. They wanted to purchase a $750,000 townhouse but...
by Allen Ehlert | October 9, 2026 | Mortgages, Personal Finance, Real Estate
Private mortgages in Canada serve as an alternative financing solution for borrowers who do not meet the strict lending criteria of traditional banks and credit unions. These loans are typically short-term, high-interest financing options that provide quick access to...
by Allen Ehlert | October 7, 2026 | Mortgages, Personal Finance
There was a time when buying a home was as simple as flipping through a real estate magazine, picking a house, and heading to the bank with little more than a job letter and a pay stub. But today’s mortgage landscape is vastly different. Modern mortgage underwriting...
by Allen Ehlert | October 6, 2026 | Mortgage Terms, Mortgages, Personal Finance, Real Estate
In the intricate world of mortgage financing, ensuring the security and legitimacy of property transactions is paramount. Fidelity National Financial (FNF) and First Canadian Title (FCT) play critical roles in protecting lenders, homebuyers, and financial institutions...
by Allen Ehlert | October 5, 2026 | Mortgage Terms, Mortgages, Personal Finance
A second mortgage is a loan that is secured against a property that already has an existing mortgage. It is considered “second” because it is subordinate to the first mortgage in terms of priority—meaning that if the homeowner defaults, the first mortgage...
by Allen Ehlert | October 3, 2026 | Mortgage Terms, Mortgages, Personal Finance
Notarization is the process of certifying the authenticity of a document, signature, or translation by a notary public—a legally authorized official. Notarization ensures that documents are legitimate, trustworthy, and legally recognized by courts, financial...
by Allen Ehlert | October 2, 2026 | Mortgages, Personal Finance, Real Estate
The “trigger rate” in the context of a mortgage, particularly a variable rate mortgage with fixed payments, is a specific interest rate at which the fixed monthly payments are no longer sufficient to cover both the interest and principal repayment. When...
