Many Canadians renew their mortgages without asking questions or doing their research, which often leads to paying a higher rate on a mortgage product that doesn’t suit their needs. But, if you are nearing your time of renewal, it pays to do your due diligence so you get the best financing offer and mortgage agreement that works for you. Before you renew your mortgage, here are five things to consider: Start early Don’t wait until the last minute to act on your mortgage... [read more]

Like most millennials, you’re in the stage of life where you are moving on from being a student and into your professional career. You may also feel weighed down by student loans and high costs of living, especially if you reside in the city. You might also be ready to purchase your own home in the near future.  Like every other generation of home buyers, you share the same concerns of saving for a down payment and securing a mortgage at a good interest rate. However, millennials... [read more]

You may have heard of the term “second mortgage,” but have never given the topic much thought. Like other types of loans, consumers take out second mortgages to cover big ticket purchases or large expenses, such as home repairs, post-secondary education tuition costs or debt consolidation.  As the name suggests, a second mortgage is a secondary loan that you take out on your home. You can borrow up to 80 percent of the appraised value, minus the balance on your first... [read more]

Do you ever dream of paying off your mortgage and owning your home free and clear? What immense freedom that would be! For many homeowners, this reality may feel like a far-off dream, especially with the cost of real estate nowadays. But, like all dreams in life, they are worth working for – and paying down your mortgage is no different. To help you pay less interest and own your home faster, consider implementing these changes to make your mortgage disappear sooner than you ever... [read more]