On August 31 the Office of the Superintendent of Financial Institutions (OSFI) announced it will begin phasing out the payment deferral programs related to COVID-19 relief. Specifically, the OSFI stated it will begin phasing out special treatment of payment deferrals. What does this mean for mortgage holders?...
The Bank of Canada announced on August 13 that it was lowering the benchmark five-year mortgage rate to 4.79. This was the third cut to the rate since the beginning of the pandemic, easing a key stress test faced by borrowers. With low mortgage rates available...
Whether it’s your first condo, a family home, or an investment, buying property is an expensive undertaking. From the down payment and closing costs, to budgeting for monthly expenses, it takes a fair amount of financial planning and preparation, sometimes years in advance. Aside from...
While small to medium size businesses are often cited as the backbone of the Canadian economy, you might be surprised to learn that those business owners can sometimes struggle to obtain financing from A-lenders. That’s because self-employed individuals are often turned down by top-tier banks,...
With tightening lending regulations and a newfound degree of uncertainty surrounding the fallout from COVID-19, having a good credit score is more important than ever. This is especially true if you hope to buy a home in the near future. What is a credit score exactly?...
Planning to enter the housing market and become a new homeowner can be stressful under the best of circumstances. Add to it the uncertainty created by the COVID-19 situation and it’s understandable why many new home owners are feeling daunted by the process. Thankfully, proper...
If you’re thinking about buying your first home it’s essential to have a real understanding of what you can afford based on your financial situation as well as your lifestyle. The best way to go about making that determination is to consult with a mortgage...
Each year thousands of Quebecers contemplate buying their first home and many have been saving for years in order to make what is often the largest transaction of their lives. Saving in advance for all of the expenses related to purchasing a home – from...
Not everything goes according to plan in life. Indeed, some clients’ financial profile may make their lending experience a little more trying than others. Typically, big banks and major lenders cater to a specific type of clients that meet their stringent criteria. Thankfully, through the...
With COVID-19 creating a whole new reality for the real estate sector, it’s only natural that people are seeking clarity. After all, clients need to understand this fluid environment in order to make decisions about their own lives. We appreciate how confusing this situation has...
