Deferring Mortgage Payments. (Covid-19)

Deferring Mortgage Payments. (Covid-19)

In response to the Covid-19 crisis; for those individuals financially affected, banks and government have announced that payment relief may be available for up to 6 months of deferred mortgage payments. As information is changing daily, or hourly, if you have any...
Should I Get A Mortgage Pre-Approval?

Should I Get A Mortgage Pre-Approval?

Should I get a Mortgage Pre Approval? Going through the pre-approval process is important. However, the actual term ‘pre-approval’ is often misunderstood. It’s not magic, and it’s certainly not binding. Let’s be clear, a pre-approval isn’t for the lender; it’s for...
New Stress Test On Insured Mortgages

New Stress Test On Insured Mortgages

Minister Morneau Announces New Benchmark Rate for Qualifying For Insured Mortgages The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of...
Costs Associated with Buying a Property

Costs Associated with Buying a Property

So you want to buy a property, that’s great! Make sure you have your wallet ready to bring to the table. In addition to the downpayment, there are many other costs associated with purchasing a home; typically, these are called closing costs. Your closing costs...