The Basics of Pre-payment Privileges

The prepayment privileges are included in most mortgages. They allow you to pay off your mortgage faster and reduce your interest costs. Each lender has their own prepayment privileges, some have up to 15%, 20% + 20%, double up, lump sum, etc. Let us review that 20 + 20 privilege. It allows an annual mortgage […]

Get Back by Going Green and Giving Back to the Environment

If you recently bought a property with less than 20% as down payment you paid a default insurance premium. Luckily the major insurers in Canada, Canada Mortgage and Housing Corporation (CMHC), Genworth, and Canada Guaranty have programs that pay you back for your energy efficient property. These programs were introduced to encourage Canadians to make […]

Canadian Housing Statistics and Data

CMHC annual reports and monthly updates contain current and historical data on housing in Canada — new construction, new home prices and sales, rental statistics and the demographics of housing demand. View and Download Reports

First Time Buyer Plan

Navigating the world of Canadian home buying Step 1: Figure out how much you can afford. Falling in love with a house you can’t afford can be heartbreaking. Avoid disappointment by figuring out your budget before you start looking. – First, decide how much you can afford for your down payment. The Home Buyers Plan […]

2 Out of 3 Do Not shop at Renewal

Every now and then we see a mortgage stat that’s a jaw-dropper. This finding from Manulife Bank is one of them. It suggests there are a lot more people with money to burn than one might expect. Manulife recently surveyed 1,000 Canadian homeowners between the ages of 30 to 59. Among respondents with a mortgage, […]