Upcoming changes to mortgage qualification made by Ottawa could affect your ability to purchase a home after October 17th, 2016 The Federal Government will be requiring mortgage lenders in Canada to conduct what is being termed a ‘stress test’ for mortgage borrowers taking out a fixed rate mortgage of 5 years or longer. The stress test involves qualifying…
Home ownership is a dream nearly all Canadian’s share The purpose of this article is to provide a recent immigrant and new Canadians with a step by step guide for mortgage qualification. How to qualify for a mortgage as a new immigrant Just as we’ve discussed before, there are three basic criteria for mortgage qualification: credit…
Mortgage Renewal Season is just around the corner. How well prepared are you? In Edmonton, the vast majority of real estate transactions occur during the Spring and Summer months. The weather is nicer so potential home buyers are more active, and homes generally show better with some greenery so sellers are more likely to list…
Mortgage Tips for Couples Dealing with Divorce/Separation – Part 3 The purpose of this article is to provide existing, and even potential homeowners who are, or soon will be dealing with divorce with some mortgage tips to help simplify the process of moving forward financially. Before going forward, I have to acknowledge that I am…
How to minimize the cost(s) of financing a rental/investment property Owning a rental property is a lot like owning a corporation in the sense that minimizing costs, and maximizing profitability. The cost(s) of owning a rental property generally break down as follows: Mortgage Interest Cost Maintenance Property Taxes HOA/Condo Fees Utilities For the most part,…
