Blog

  • New CMHC mortgage rule changes impact non-wealthy borrowers

    CMHC has announced new mortgage rule changes that will come into effect on July 1.  Here are the changes: They are discontinuing the “Flex-down” mortgage product. This program is not being used very often, but it now disqualifies you from using borrowed money (aka line of credit) to use as a down-payment to purchase a home.…

  • CBC: Chartered bank charges $30,000 mortgage penalty to woman forced to sell home due to pandemic

    I was reading through the news yesterday when I came across this article about mortgage penalties that chartered banks are charging their mortgage clients to break their mortgage. This case was a TD mortgage. However, they also mentioned another example in the article that was a CIBC mortgage. I have written about this and told…

  • How does the COVID-19 epidemic affect your mortgage

    With the COVID-19 pandemic reaching its second week of interrupting our regular daily lives, there have been increasing questions in the wake of business closures and layoffs about how mortgage companies will face the significant disruption to the lives home owners.

  • COVID-19 update

    The news of the COVID-19 pandemic weighs heavily on all of us, from the public in general, to my mortgage clients, my brokers and to ourselves and our families.

  • RRSP deadline is coming – max out your contribution room for mortgage down-payment

    This is just a quick note to let everyone who is looking to buy a home know that they can max out their RRSP contribution room before the 2nd of March and get a tax receipt for this year AND be able to use up to $35,000 per person under the Home Buyers Plan.

  • What line of credit mortgage means and how it can be beneficial for you

    You can experience unexpected expenses in your life. You may need money for maintenance or to complete a home project. In such cases, you need to access the assistance of a trusted financial partner who can offer the right suggestion to get you out of the financial need. Canada Innovative Financial is one such mortgage…