In the recent Fall Economic Statement (FES), the Liberal government introduced the Canadian Mortgage Charter (CMC) as a measure to assist homeowners facing financial challenges amid rising interest rates. This initiative aims to provide clear guidelines for financial institutions on how to support vulnerable borrowers. In this blog post, we’ll break down what the Canadian…
Proposed New Mortgage Regulations Be prepared – Stricter rules around qualifying for a mortgage could be coming this spring. Canada’s banking regulator OSFI (The Office of the Superintendent of Financial Institutions) proposed three new regulations that could further restrict mortgage lending. A review is underway. Potential additions come as OSFI is saying risk around loans…
Home appraisers look at two key things when making their home assessment.
CO-SIGNING A MORTGAGE With our current real estate market, getting a Mortgage is not as easy as it has been in the past. With rising rates, and more qualification criteria, it is certainly more challenging. But don’t worry – There are many ways that home buyers can get approved more easily. One of the most…
What exactly is a credit report and why is it so important when it comes to obtaining a mortgage?
Insurance required or offered when you get a mortgage can be confusing. In this post, we explain the different kinds.
Learn the difference between a conventional mortgage versus a high ratio mortgage, and how mortgage default insurance comes into play.
Assumable mortgage – is it for you? Lets review some details.
What on earth is HELOC? In this post, we talk about what this strange acronym is and how this can help you buy a home
Mortgage payment deferral – what you need to know. Key points reviewed.