The housing market continues to favor sellers as we move into the summer months. If you’re thinking of selling, this is a great time to do so! Not only will your home likely be listed on the market for a shorter period of time, but most sellers are currently receiving multiple offers on their sale. This is due to the increasingly high demand for housing with limited homes currently available on the market. However, even in a seller’s market, there are some things you can do t

For many Canadians who are looking to retire but currently facing high debt load and ongoing expenses, as well as reduced income, it can be a challenge. This is where the reverse mortgage can help! This product is also a great option for anyone wanting to assist their elderly parents. Instead of selling the home and moving them to a care home or assisted living, a reverse mortgage is a terrific way to access the equity in the home, month by month, to pay for in-home and ongoi

With the latest stats claiming that about half of marriages end in divorce and with around three-quarters of Canadians being homeowners, it’s important to know how to handle your mortgage if you decide to separate. Here’s a quick list of things to consider. Keep making your payments. A mortgage is a legally binding contract between you and the lender. It doesn’t take marriage into account. If your name appears on the mortgage, you're responsible for making sure the regular

As a first-time buyer, I am here to give you some tips on homebuyer mistakes to be on the lookout for so you can avoid them for the best experience possible! Thinking You Don’t Need a Real Estate Agent You might be able to find a house on your own, but there are still many aspects of buying real estate that can confuse a first-time buyer. Rely on your agent to negotiate offers, inspections, financing and other details. The money you would have saved on commission can be quick

Effective May 3, 2021, the Federal Government will be expanding the First Time Home Buyer Incentive program to enhance eligibility in Toronto, Vancouver and Victoria Census Metropolitan Areas (CMA) as defined by Statistics Canada. What you need to know In Toronto, Vancouver and Victoria CMAs, the: Maximum total qualifying annual income is $150,000 (an increase from $120,000) Maximum mortgage loan amount plus incentive cannot exceed 4.5 times the total qualifying income (an in

Did you know? Reverse mortgages are continuing to gain popularity for 55+ homeowners in Canada! For many Canadians who are looking to retire but currently facing high debt load and ongoing expenses, as well as reduced income, it can be a challenge. This is where the reverse mortgage can help! This product is also a great option for anyone wanting to assist their elderly parents. Instead of selling the home and moving them to a care home or assisted living, a rever

Since it was launched in 2019, the FTHBI has struggled to gain traction among first-time buyers. As of Sept. 30, 2020, the Canada Mortgage and Housing Corporation (CMHC), which administers the program, said it has received just 9,520 applications worth about $173 million in shared equity mortgages. When the program was first announced, the government earmarked $1.25 billion over three years with the goal of assisting 100,000 homebuyers to purchase homes. Under the program,

Here is what you need to know about the new shared equity program offered by CMHC and the other insurers that launches today.