Homeownership remains a major aspiration for many Canadians – but increasingly, it’s becoming more difficult to achieve. According to a recent survey by NerdWallet Canada, featured on BNN Bloomberg, one in three Canadians say that saving for a down payment is the number one reason they can’t buy a home. At Canadian Mortgage Professionals Inc.,…
Big News for Homeowners The Office of the Superintendent of Financial Institutions (OSFI) has announced a significant change in the mortgage landscape that will benefit many Canadian homeowners. Effective soon, borrowers with uninsured mortgages will no longer be required to complete a stress test when switching lenders at renewal time. What Does This Mean…
How much income is required to qualify for a mortgage. Let’s have a look at the rules and qualifiers.
Down payment can be a hurdle for many perspective home buyers. We’ll have a look at 5 options to help your home ownership dream come true.
Renting versus buying, which way to go? Arm yourself with all of the knowledge available when making this very important decision.
This post touches on what exactly is a down payment and the related requirements.