A reverse mortgage is a solution that’s designed for Canadian homeowners above the age of 55. The goal of this mortgage is to help a homeowner turn their equity into cash which is tax-free and without the ongoing requirement of monthly mortgage payments. Sometimes you need to put in reverse before you can conquer the road ahead!

Have you ever said that you would build your home differently if you had the proper opportunity to? Building a new home is a dreamy idea for many families and a chance to customize every aspect of the home to create the ideal living space. As you embark on this opportunity, one major component to plan will be a financing solution for the new home build and here’s where a construction mortgage can help turn that dreamy idea into a reality

The new stress test rules coming into effect for June 1, 2021 will have an impact on homebuyers with both insured and uninsured mortgages. For those that may not know, a stress test is a “what if scenario” and in this case, it’s what if the interest rate were to increase by two percentage points?

Somebody once said that “every successful person has a plan” and for those wanting to save for a down payment toward their next home should most definitely should have a plan. In this article we will outline some of the points of the 50-30-20 budget rule that is an easy to follow guideline for those wanting to build that down payment amount or simply for those wanting to have a plan for their monthly family budgets.

This is an opportunity for a homeowner to renegotiate their current mortgage plan and refinance at a new rate or new terms. There could be several benefits such as lowering your current monthly mortgage payment or to access the built up equity from your home for the betterment of your personal finances or home improvement projects. Generally speaking, a homeowner can potentially access up to 80% of their home’s appraised value.