by Allen Ehlert | February 12, 2025 | Mortgages, Personal Finance, Real Estate
In the quaint town of Cobourg, Ontario, nestled between rolling hills and sparkling waters, lived Tom and Elaine, a couple well into their retirement years. Their life was peaceful, filled with garden walks and afternoon tea sessions, but their hearts often wandered...
by Allen Ehlert | February 11, 2025 | Mortgages, Personal Finance
Qualifying for a mortgage in Canada hinges on many factors, but none are as critical as income. Lenders scrutinize earnings to gauge an applicant’s financial stability and capacity to service debt. While salaried employment remains the gold standard, the modern...
by Allen Ehlert | February 10, 2025 | Mortgage Terms, Mortgages, Personal Finance
In the ever-evolving landscape of Canadian real estate, rising home prices have made it increasingly challenging for many buyers to enter the market. As a result, gifted funds for down payments have become a significant enabler for many prospective homeowners,...
by Allen Ehlert | February 8, 2025 | Mortgages, Personal Finance
Where you get your mortgage can have a big impact on how much you have to pay in regular mortgage payments, how fast you can pay off your house, and what you need to do and have to qualify for. When asked, most Canadians think that ‘the bank’ is the only...
by Allen Ehlert | February 7, 2025 | Mortgage Terms, Mortgages, Personal Finance, Real Estate
Navigating the complexities of mortgage management can be daunting, especially when life’s changes necessitate a move. One valuable feature offered by many mortgage lenders in Canada is the ability to port a mortgage. This article delves into what it means to...
by Allen Ehlert | February 5, 2025 | Personal Finance, Real Estate
Canadian REITs have faced challenges in the past year, but there is hope for a rebound. In this blog post, we dive deeper into the factors influencing the performance of Canadian REITs and explore why the sector needs more capital. From leasing spreads to market...
by Allen Ehlert | February 3, 2025 | Mortgage Terms, Mortgages, Personal Finance
The mortgage stress test in Canada is applied to determine whether homebuyers can afford their mortgage payments under higher interest rates than the actual rate being offered by the lender. This test is a key requirement for both insured and uninsured mortgages....
by Allen Ehlert | January 28, 2025 | Mortgages, Personal Finance
Mortgage Finance Companies (MFCs) in Canada are financial institutions that specialize in providing mortgage lending and related services. MFCs offer an alternative to traditional bank mortgages (prime lenders) and cater to a variety of borrowers, including those who...
by Allen Ehlert | January 26, 2025 | Mortgages, Personal Finance
The implementation of the mortgage stress test in Canada has been a significant regulatory measure with far-reaching implications for the mortgage industry, housing market, social dynamics, financial stability, and the broader Canadian economy. This article provides...
by Allen Ehlert | January 25, 2025 | 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 | January 23, 2025 | 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 | January 20, 2025 | Mortgage Terms, Mortgages, Personal Finance
Mortgage providers in Canada are either federally or provincially regulated. Canada’s chartered banks are federally regulated while many other lenders (see below) are not. Getting a mortgage from a non-federally regulated mortgage provider in Canada has both...
by Allen Ehlert | January 17, 2025 | Mortgages, Personal Finance
With interest rate hikes, homeowners are facing the potential detonation of a financial bomb tied to their mortgages, the trigger rate. Let’s get into how a trigger point on a fixed-payment, variable mortgage can have such a strong impact on Canadians: Impact of...
by Allen Ehlert | January 9, 2025 | 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 | January 3, 2025 | Mortgages, Personal Finance
As a homeowner in Canada, the idea of breaking your mortgage may have crossed your mind at some point. Whether it’s due to unexpected life events, new financial opportunities, or personal circumstances, the decision to terminate your mortgage can have...
