Real Estate

How do mortgages work in Canada

How do Mortgages Work in Canada?

Have you ever wondered how do mortgages work in Canada? To simply put it, a mortgage is a loan that you get to help you purchase a home. That said, there are different types of mortgages and options available. Understanding the ins and outs of mortgages is vital since they’ll significantly impact your purchasing decision…

Read More
What is the First Home Savings Account

What is the First Home Savings Account?

What is the first home savings account? The First Home Savings account (FHSA) is a new tax-free account proposed by the Liberal Party of Canada. While we are still waiting for the full details to be released, the First FHSA will allow young Canadians to save up to $40,000 tax-free to be used towards the…

Read More
First-Time Home Buyer Incentive

What is the First Time Home Buyer Incentive?

Have you wondered what is the First Time Home Buyer Incentive (FTHBI)? This new government program is meant to help you become a homeowner, but admittedly, it’s quite confusing. Essentially, it’ll help you reduce your monthly mortgage payments, but the government takes a share of your equity. While there’s no denying that the First-Time Home…

Read More
What do condo fees cover

What do Condo Fees Cover?

If you’re thinking about buying a condo, you’ve probably asked what do condo fees cover? Generally speaking, condo fees (or strata fees) cover building maintenance, amenities, and utilities. Some people think condo fees are a rip-off, but if you own a freehold home, you pay maintenance fees too. You just get to decide when to…

Read More
Fixed vs Variable Mortgage

Fixed vs Variable Mortgage: What’s the difference?

Buying a home is one of the biggest financial decisions in many of our lives. Rather than paying fully in cash, most homebuyers will choose to borrow money from the bank to pay for their home. In today’s competitive housing market, understanding how mortgages work is extremely important for those who are looking to buy…

Read More
Martin's Mortgage Maneuver

Martin’s Mortgage Maneuver Explained

Have you heard of Martin’s Mortgage Maneuver? It’s sometimes referred to as Martin’s Money Mortgage. Essentially, it’s a loophole that allows you to avoid the insane fees that banks charge when you break your mortgage. Funny enough, the calculation used by banks to come up with your penalty is a loophole itself since it uses…

Read More
addy invest review

addy Invest Review

When it comes to investing, real estate tends to be one of the most lucrative options. But, let’s be honest. Real estate is expensive and property prices just keep getting higher and higher during the pandemic. Many people now assume that investing in real estate is out of reach but that may no longer be…

Read More
mortgage stress test

What is the Mortgage Stress Test?

Are you looking to buy a home in Canada but have no idea what is the mortgage stress test? Even though the Canadian government announced the mortgage stress test back in 2017, it still causes a lot of confusion among potential buyers. It doesn’t help that the rules have changed a few times, so knowing…

Read More
Home Buyers Plan Explained

Home Buyers’ Plan Explained

Do you want to know how the Home Buyers’ Plan works? Anyone in the market for the first home is likely worried about their down payment? The prices of Canadian homes are skyrocketing and while you only require a 5% down payment to buy, that 5% is still a pretty steep price for most people.…

Read More
Do mortgage brokers actually get the best rates

Do mortgage brokers actually get the best rates?

Whether it be a new home purchase or you’re looking to refinance your home, getting a new mortgage requires is usually a simple process. That said, with so many mortgage products and different rates available, many people use a mortgage broker to help them with their needs. Many people don’t realize that bank mortgage brokers…

Read More