What You Need to Know: Canada’s First Time Homebuyer Incentive

More affordable housing for over 100,000 Canadians? CMHC, Canada Mortgage and Housing Corporation, has recently released a program, The First-Time Home Buyer Incentive, to help qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens. What you need to know: First time buyers making less than $120,000 per year are […]

To Go Fixed or Variable?

With the current economy and rumours of a recession looming, homebuyers may feel unsure of whether to choose a fixed or variable rate mortgage. What’s the difference? The difference between these two rate types is in their names: one doesn’t change through the mortgage term, while the other can. A variable interest rate loan is […]

Your Mortgage Term Glossary

Your Mortgage Term Glossary Heard a term your unfamiliar with? Here are some answers to help you understand the wording throughout the entire process of getting a mortgage and understanding the industry: A Agreement of Purchase and Sales The legal contract a purchaser and a seller go into. Amortization Period The number of years it […]

Tips for Getting Ready to Apply for Your First Mortgage

Tips for Getting Ready to Apply for Your First Mortgage Buying and getting financing for your first home will involve a medley of feelings. Excitement, happiness, nervousness, uncertainty and stress could describe a few of those. Of course, the best way to rid yourself of the latter examples is to know what you need in […]