When it comes to buying a home, the purchase price is just the beginning. It’s crucial to understand the full range of expenses involved in the home-buying process before you make an offer. Jill HollandHi, I’m Jill, your mortgage pro. I am here to make the world of mortgages less confusing so you can feel …
As part of Canada’s 2024 budget, the government has extended amortization periods for insured mortgages to 30 years, effective August 1, 2024. This extension is available to first-time buyers purchasing newly constructed homes. The strict criteria for this program significantly limits the number of buyers it will assist, but it will be beneficial for some. …
New 30-Year Amortization for First-Time Home Buyers & Newly Constructed Homes Read More »
One of the trickier parts of the mortgage approval process can be verifying your down payment. Providing the right documentation can be a pain point depending on your situation. Why do Lenders need to Verify Down Payment? First things first, why do we even need to verify your down payment? It’s all about compliance with the Money …
Are you eyeing up a house that you love but it needs a little something? Imagine finding your dream home and being able to add the features and upgrades you want, all wrapped into your mortgage. With our Purchase Plus Improvements program, you can make it happen. Let’s take a closer look at this opportunity …
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Choosing your payment frequency is one of the decisions you will need to make as we progress your mortgage application. Most lenders offer 6 options: Monthly Semi- monthly Bi-weekly Bi-weekly accelerated Weekly Weekly accelerated The most important thing to consider when choosing your payment frequency is your monthly cash flow. You want to set up …
As a mortgage broker, one of my primary roles is to guide prospective homebuyers through the complex world of real estate financing. When I pre-qualify you, I will give you the maximum loan amount that the bank is willing to lend. This may not be what you can comfortably afford. We want you to be …
Getting a mortgage for your dream home? As exciting as that might be, when you take on a large debt like a mortgage it is important to think about how you or your loved ones will manage if you experience a major life event like an injury, illness or death. Life is unpredictable; mortgage insurance …
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What is the First Home Savings Account (FHSA)? The First Home Savings Account (FHSA) is a specialized savings account introduced by the Government of Canada on April 1, 2023. Its primary purpose is to assist Canadians in saving for their first home. The FHSA is a government-backed initiative aimed at making homeownership more accessible and …