Blog tagged as Financial

Let's say you have a mortgage commitment from a lender, and prior to the closing date, rates change and come down a bit. Today, we will discuss how this change in rates can potentially benefit you and save you some money in interest expense; or how a rate change can affect how much more you cou...

When shopping for a new mortgage, a common source of confusion is the difference between the mortgage term, which is normally 1 to 5 years, and the amortization period, which is normally 25 or 30 years.

The basic explanation for the difference between the two timelines is that the mortgage term is th...

So, let's talk about the new CRA T3 filing requirements for people who have co-signed on a mortgage. You might be wondering why this is even a thing, and what it means for you. Well, don't worry, because I'm here to break it down for you. First things first, let's quickly go over what a co-signer is...

The First Home Savings Account (or FHSA) is a government program designed to help Canadians save money for purchasing their first home. It's a special type of registered savings account that allows you to deposit money on a tax-free basis, with the added bonus of earning tax-free income on the inves...

Managing a mortgage is a journey that requires careful navigation. Mortgage brokers understand the challenges and uncertainties homeowners face when it comes to their mortgage payments. Today's economic climate can be unpredictable, but with the right strategies, you can manage your mortgage effecti...