January 2021

Tips for Planning and Managing Your Mortgage

Posted on Jan 28, 2021


When financing a home, make sure you’re prepared to deal with any challenges that come up. These can include a loss of income, increased expenses, or rising interest rates. The following tips can ensure you’re financially stable through many ups and downs.

• Choose a smaller mortgage. Get a smaller mortgage than the maximum amount you can afford. T...

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Finding the Right Mortgage For You

Posted on Jan 28, 2021

You will have many options when it comes to choosing a mortgage. Your lender or broker will help you find the mortgage that best matches your needs. Become familiar with the following terms and options to help with your decisions.

Amortization period: The length of time you agree to take to pay off your mortgage (usually 25 years)

Mortgage term: The...

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Reference Guide

Posted on Jan 27, 2021

Adjustable interest rate mortgage: A mortgage where both the interest rate and the monthly payments vary based on changes in the market rates.

Amortization: The period of time required to completely pay off a mortgage if all conditions are met and all payments are made on time.

Application: A form used to apply for a mortgage. It includes all of th...

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Who is on Your Home Buying Team

Posted on Jan 27, 2021


Your home buying team: Who should you call? Whether it’s your first time buying a home, or you’ve done it before, it’s good to have a team of experienced professionals to help you along the way.

Real estate agent: An agent can help you find a home, tell you about the community, make an offer for you and negotiate the best deal. They can also help yo...

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Planning for Home Ownership 

Posted on Jan 27, 2021

The Canadian housing market is on the rise, and while conditions for buying a home have improved, there are still numerous misconceptions.  To help combat the misconceptions, we have listed the 5 most common home-buying questions with answers below: 

1.     Is right now the best time to buy a home?
2.    What type of home is right for me? What’s the differe...

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How Much House Can You Afford? 

Posted on Jan 27, 2021

Calculate how much you can afford to spend on housing each month without putting your financial health at risk. These two simple rules will show you what you can afford to pay for a home. Understanding these rules can also help you when it’s time to get approved for a mortgage. 

Affordability rule 1: As a rule, your monthly housing costs should be n...

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