What Is A Mortgage Deposit?

Only Half of Canadians Know! Many Canadians have a good understanding of financial services terms. A recent Angus Reid survey revealed that 51 percent of respondents were confident they knew what a mortgage deposit was, with 48 percent admitting they were “not very confident” or “not at all confident” they understood the term. It’s easy to see why there’s some …

2020 Buyer Trends

Another year has come and gone, and with a new year comes new goals. Whether you’ve decided this is the year you’re going to sell your home or if you’re just considering it, you need to know which buyer trends to expect in 2020. We’ve laid out the most important trends for this year and how it could affect your …

5 Things I Wish I Knew Before Buying My First Home

We know that the home buying process is daunting, and it might seem like you have a million tasks on your plate. Everyone is giving you advice, but what should you really spend your time worrying about? We asked a recent first-time homebuyer what she wishes she knew before she bought her home. Here are the 5 pieces of advice …

How Much Do I Need for a Downpayment?

We often get questions about down payments. So here is the lowdown on how much you need, and how you might get it. How much do you need? It is not surprising that most Canadian homebuyers purchase a property with the absolute minimum downpayment. The thing is, the minimum can vary, so you want to be sure you know how …

Mortgage Basics

You will have many options when it comes to choosing a mortgage. Your lender or broker will help you find the mortgage that best matches your needs. Become familiar with the following terms and options to help with your decisions. Amortization period: The length of time you agree to take to pay off your mortgage (usually 25 years).  Payment schedule: How …

RBC Spring Promotions

RBC has some very exciting mortgage offers, designed for everyone from first time home buyers to those of us who love to travel! The offers include: A $750 gift Westjet gift card when you switch your mortgage. An 18 month complimentary FCT Home Protection Plan with up to $20,000 in coverage. $750 in cash for first time home buyers. These are time limited offers and conditions apply, …

Maintaining Your Home and Protecting Your Investment

Becoming a homeowner is a major responsibility. It’s up to you to take care of your home and protect what is likely your biggest investment. Here are a few things to keep in mind: Make your mortgage payments on time. You can make our mortgage payments weekly, every two weeks or once a month. Whichever schedule you choose, always make …

6 Reasons to Work with an Expert on Your Mortgage Renewal

Given the large financial commitment of a mortgage, it’s surprising that so many homeowners sleepwalk through the mortgage renewal process and don’t look at all their options in the marketplace. Many accept whatever their lender offers or just have a short negotiation to shave a few points off. While it’s tempting to choose what is easiest, it’s so important to …

Wedding vs Home? — The Decision Facing Many Young Canadians

Young Canadians are facing difficult financial decisions with the cost of living increasing and the cost of becoming a first-time homebuyers unaffordable for many. That means that the high cost of a wedding — average $46,000 — may be the difference between homeownership as singles or married life as renters. An analysis from RateSupermarket.ca found that an overwhelming 84% of …

January Sales up Compared to December 2018

Toronto Real Estate Board (TREB) President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6 percent compared to January 2018. Sales were up by 3.4 percent compared to December 2018. “It is encouraging to see the slight increase in January transactions on a year-over-year basis, even with …