Introducing the 55 / 55 Financing Option

Introducing the 55 / 55 Financing Option

According to the 2016 Census, seniors now outnumber children for the first time in Canadian history. With an estimated 5.9 million Canadian seniors, the population is not only growing older but the pace of change is accelerating. This is all very positive news, but...
DEAL OF THE MONTH

DEAL OF THE MONTH

Mr and Mrs purchased a home in Dundas, Ontario for $2,610,000. Prior to doing so, they consulted with their bank, who assured them there would be no problem with the financing. Based on their bank’s assurance, they made a firm offer to purchase. Their bank backed out...
Winter is just around the Corner

Winter is just around the Corner

Winter is just around the corner. Here are some helpful tips to protect your home, minimize your heating bills and make your winter more pleasurable: A visual inspection of your roof can identify lose or missing shingles and damaged flashing. Spending a little time...
Are You Stressed by OSFI’s ‘Stress Test’ Yet?

Are You Stressed by OSFI’s ‘Stress Test’ Yet?

Effective January, 2018, the qualifying rate for uninsured mortgages, (20%+ down payment), will be the greater of the five-year benchmark rate published by the Bank of Canada, (4.89% today), or the contractual mortgage rate + 2%. In plain English, IF the 5 year...
Valuable Tips about how to Pay off your Mortgage Faster

Valuable Tips about how to Pay off your Mortgage Faster

When shopping for a mortgage, the lowest rate should not be your only concern. Pay attention to the three ‘P’s’: Prepayment privileges By how much can you pay down your mortgage annually without being penalized? Penalties What penalty will you pay to pay your mortgage...