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GTA Tag

People who work for themselves often run into problems in the mortgage market because income is variable and unpredictable. As of October of last year, buying a home became easier for the self-employed to secure a mortgage. According to CMHC, the self-employed make up about...

It is no secret that the family home is the most significant asset many families have.  So, what happens to this home if the couple ends up getting a divorce? Most couples begin saving for the down payment of this home as soon as they...

In a previous blog, we explained what “appraised value” means when it comes to a home as well as how the entire process is done. This blog addresses the other side of the equation: when is this appraisal required? Remember that an appraisal is a...

Are you currently working as a mortgage agent for a bank? Would you ever consider making the transition from the branch to the brokerage? There are many advantages in taking this step. As usual, we like using real life examples to demonstrate each topic we...

Envision this scenario: living in retirement should be easy and pleasant as you are enjoying some time to yourself after a lifetime of work. But is it really that easy? Whether you are retired or planning to retire soon, there are things to take into...

Simply put, closing costs are fees incurred in completing your real estate transaction.  They may be charged by your bank or mortgage company, a government entity, the buyer, seller or a third party. Due to the complexity of real estate transactions, there are usually a...

Your credit report contains your credit history as reported to the credit reporting agency by lenders who have extended credit to you, as we have written about in previous blog posts. The information in your credit report is also used to generate credit scores. If...

This is a scenario we hope every person can avoid. However, we cannot stress enough the importance of being informed and the process of defaulting on a mortgage is an important one. A mortgage default means that you violated one or several of the terms...

In your search for which mortgage can suit you best, you may encounter the term “high yield mortgage”. Basically, a high yield mortgage is a loan with a higher than average interest rate. The yield refers to the compound interest charged on the mortgage, also...