Utilizing Mortgage Refinancing in 2025
Mortgage refinancing can be a great financial option for various reasons. Some homeowners believe that refinancing is only possible when their mortgage term ends, but in reality, you can refinance even before your mortgage matures. Refinancing can be used to leverage home equity for major expenses such as home renovations or college tuition. In other […]
How Should You Prepare for Your Mortgage Renewal?
Many Canadians are approaching their mortgage renewal period this year. However, simply waiting until the renewal date arrives is not the best approach. The sooner you start preparing, the more opportunities you’ll have to secure better terms. Additionally, considering refinancing during the renewal process can help consolidate other debts or adjust your monthly payments. So, […]
5 Benefits First-Time Homebuyers Shouldn’t Miss!
Buying your first home is a significant milestone in life! If you’re considering your budget and the type of home you want, here’s an update on the latest benefits available to first-time homebuyers in 2025. New Home or Newly Built Home Mortgage with 30-Year TermDid you know that first-time homebuyers purchasing a newly built home […]
2025, Bank of Canada Interest Rate Announcements: 8 Key Opportunities to Watch
In 2025, the Bank of Canada (BoC) is set to deliver eight key interest rate announcements, signaling important information about the domestic economy. These announcements have a direct and indirect impact on mortgage rates, making them crucial for both homeowners and potential buyers. Why the Interest Rate Announcements Matter BoC’s interest rate policies aim to […]
New Mortgage Renewal Policy : No Stress Test Required
Since November 21, 2024, a newly implemented government policy has brought great news for those considering mortgage renewal. Now, when transferring an existing mortgage to another bank under the same terms, borrowers no longer need to undergo a stress test. What is a Stress Test? A stress test is an evaluation process that determines whether […]
3 Benefits of Mortgage Pre-Approval
Mortgage pre-approval is a process where a lender reviews the submitted documents based on your current income and credit history and then confirms your loan eligibility and loan amount in writing. Pre-approval typically specifies the term, interest rate, and mortgage amount, and it is valid for 120 days, subject to meeting specific conditions. Here are […]
Mortgage Interest Strategy for Buying a Home in 2024
Many people are currently concerned about mortgage interest rate changes in 2024. As the economic situation continues to evolve, the impact these changes have on homebuyers and homeowners is crucial. Here are some tips regarding mortgage interest rate predictions that might be helpful for you. So, what kind of mortgage interest rate should you choose? […]
Closing Costs You Must Know When Buying a Home
When purchasing a home, many buyers have their down payment plan well-prepared, but they often forget about the additional costs involved. I will guide you through these closing costs in detail! Closing costs are one-time expenses related to the home purchase, separate from the down payment or deposit you paid when buying the home. Typically, […]
Insured Mortgage Policy Change
An insured mortgage refers to a mortgage where customers who make a down payment of less than 20% pay an insurance premium. This is a policy aimed at minimizing the bank’s risk due to the smaller down payment. With an insured mortgage, the maximum price of a home that can be purchased is $1 million, […]
