by Allen Ehlert | March 16, 2025 | 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 | March 14, 2025 | 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 | March 12, 2025 | 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 | March 10, 2025 | Mortgages, Personal Finance
Owning property in Canada is an attractive prospect for many, from newcomers and investors to Canadian expatriates looking to return home. However, financing a mortgage with funds sourced from outside of Canada presents unique challenges. Lenders, banks, and...
by Allen Ehlert | March 8, 2025 | Mortgages, Personal Finance
Employment in Canada is not a monolithic concept. It is a dynamic structure shaped by economic demands, industry standards, and government regulations. Whether someone is a salaried professional, a contract-based consultant, or a gig worker juggling multiple roles,...
by Allen Ehlert | March 6, 2025 | Mortgages, Personal Finance
In Canada, the mortgage application process is highly regulated, requiring strict compliance with financial and legal documentation standards. For borrowers whose mortgage application documents are in a language other than English or French, lenders demand certified...
by Allen Ehlert | March 4, 2025 | Mortgages, Personal Finance, Real Estate
Real Estate > Personal Finance > Mortgage The 407 ETR (Express Toll Route) in Ontario, Canada, is renowned for its cost, often considered one of, if not the most expensive toll roads in the world. If you ask a person in Ontario, they will tell you they think the...
by Allen Ehlert | February 26, 2025 | Mortgages, Personal Finance
Securing a mortgage in Canada has long been an income-driven process. Lenders scrutinize pay stubs, tax returns, and employment history to determine whether a borrower qualifies. However, in today’s evolving financial landscape, assets play an increasingly significant...
by Allen Ehlert | February 23, 2025 | Mortgage Terms, Mortgages, Personal Finance
Raising a family in Canada comes with significant financial responsibilities, from childcare costs to daily household expenses. For many families, the Canada Child Benefit (CCB) serves as a crucial financial lifeline, providing tax-free monthly payments to support...
by Allen Ehlert | February 21, 2025 | Economy, Mortgages, Personal Finance, Real Estate
Real Estate > Personal Finance > Mortgage In the golden light of dawn, while much of Ontario still slumbers, thousands of commuters from suburbs like Whitby and Oakville embark on their daily pilgrimage to Toronto. This journey, often romanticized as a quest for...
by Allen Ehlert | February 19, 2025 | Mortgages, Personal Finance, Real Estate
Real Estate > Personal Finance > Mortgages In the bustling city of Toronto, like many other major cities around the world, the daily commute is an accepted part of working life, especially for those living in the suburbs. However, this seemingly mundane aspect...
by Allen Ehlert | February 17, 2025 | Mortgage Terms, Mortgages, Personal Finance
What could happen OSFI did not mandate the implementation of the stress test? If the Office of the Superintendent of Financial Institutions (OSFI) had not mandated the implementation of the mortgage stress test in Canada, several potential risks and consequences could...
by Allen Ehlert | February 15, 2025 | Economy, Mortgages, Personal Finance
The stock market and the economy may appear to be closely interconnected, but are they truly? Let’s unravel the intriguing dynamics and discover the stark differences. The Analogy of the Man and the Dog New York Trader Josh Brown uses the description of a man...
by Allen Ehlert | February 14, 2025 | Mortgages, Personal Finance, Real Estate
Real Estate > Personal Finance > Mortgage In recent years, North American cities, particularly Toronto, have witnessed a significant shift in the commercial real estate landscape, marked by increasing vacancy rates in office buildings. This trend, initially...
by Allen Ehlert | February 13, 2025 | Mortgage Terms, Mortgages, Personal Finance
A “living inheritance” is a financial strategy that has gained popularity among older generations looking to support their children’s futures while still alive. This approach involves transferring wealth to children or grandchildren during the...
