Mortgage Blog

Category: Mortgage (70 posts)

Mortgage For self Employed

Mortgage For self Employed

April 18, 2024 | Posted by: Sarabjit Dhuna

If you are self employed and thinking about getting mortgage for home? Mortgage application process can be complicated and lengthy. However, its possible to get mortgage at best lending rates. There a ...

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 Timeline for Mortgage Approval

Timeline for Mortgage Approval

April 16, 2024 | Posted by: Sarabjit Dhuna

Timeline for Mortgage approval can depend on many factors like efficiency of Lender, fluctuation of market, choice of lender etc. In addition, timeline can be few days to few weeks. Sometime potential ...

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Paying off your mortgage early - The Pros and Cons

Paying off your mortgage early - The Pros and Cons

April 10, 2024 | Posted by: Sarabjit Dhuna

Certainly! Paying off your mortgage early is a significant financial decision that many Canadians grapple with. It can be an appealing goal, offering both financial freedom and peace of mind. That sai ...

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April 10-2024 - Bank of Canada maintains policy rate, continues quantitative tightening

April 10-2024 - Bank of Canada maintains policy rate, continues quantitative tightening

April 10, 2024 | Posted by: Sarabjit Dhuna

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The Bank ...

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All About HELOC

All About HELOC

March 28, 2024 | Posted by: Sarabjit Dhuna

HELOC (Home equity line of credit) is revolving secured loan using your home as collateral. HELOC is usually use for debt consolidation, home renovation and emergency funds. HELOC is good compared to ...

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The Impact of Canadian Economic Trends on Mortgage Rates: What You Need to Know

The Impact of Canadian Economic Trends on Mortgage Rates: What You Need to Know

March 27, 2024 | Posted by: Sarabjit Dhuna

Navigating the world of mortgages can sometimes feel like trying to predict the weather in Canada: just when you think you've got it figured out, things change. But unlike the weather, understanding ...

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How To Improve LTV (Loan to Value) ratio

How To Improve LTV (Loan to Value) ratio

March 26, 2024 | Posted by: Sarabjit Dhuna

First of all, What is LTV(loan to Value)? In simple words, LTV is ratio of the amount of the mortgage in your property to appraised value of that house. Lenders use this metrics to asses the risk asso ...

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Unlocking the Door to Home Ownership: Simple Tips to Boost Your Credit Score

Unlocking the Door to Home Ownership: Simple Tips to Boost Your Credit Score

March 20, 2024 | Posted by: Sarabjit Dhuna

Hello, homebuyers and financial enthusiasts! Today, we're diving into a topic that's as crucial as it is misunderstood: your credit score. Think of your credit score like a key. The higher it is, the ...

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How to save on your Mortgage

How to save on your Mortgage

March 19, 2024 | Posted by: Sarabjit Dhuna

It's better from the start that you get the best and lowest rate possible so you can save thousands of dollars. We have access to lenders who can give you the lowest rate possible. If you are look ...

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Recommendation for First home Buyer

Recommendation for First home Buyer

March 19, 2024 | Posted by: Sarabjit Dhuna

Finding first home is always exciting and at same time complicated or complex. From finding a home to mortgage closing is lengthy and complex process. We will give you some recommendations for your ...

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Getting mortgage for pre-construction home

Getting mortgage for pre-construction home

March 7, 2024 | Posted by: Sarabjit Dhuna

Since Last 2 to 3 years, many Canadians are facing high interest rate and highly priced house. One of the solutions to reduce costs is to buy pre-construction home or condo. In addition, homeow ...

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Everything about Variable vs Fixed mortgage rate

Everything about Variable vs Fixed mortgage rate

March 7, 2024 | Posted by: Sarabjit Dhuna

You have two options for mortgages after you purchase home.1. Fixed Mortgage rate2. Variable Mortgage rate Fixed Mortgage: - your mortgage payment, interest rate and length of the mortgage is already ...

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Private Mortgage vs Bank Mortgage

Private Mortgage vs Bank Mortgage

March 7, 2024 | Posted by: Sarabjit Dhuna

Both Private mortgages and bank mortgages have their pros and cons. It depends on needs and preference of individuals about which mortgages are better. Let's first talk about Private mortgages and Ba ...

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Bank of Canada maintains policy rate, continues quantitative tightening

Bank of Canada maintains policy rate, continues quantitative tightening

March 6, 2024 | Posted by: Sarabjit Dhuna

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. Global e ...

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All About 2nd Mortgage

All About 2nd Mortgage

February 22, 2024 | Posted by: Sarabjit Dhuna

In simple language, 2nd mortgage is the mortgage that is taken out from your property’s equity that already has 1st mortgage on it. There are two types of 2nd mortgage 1. HELOC(home equity lin ...

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Managing Your Mortgage Renewal in a High-Rate Environment

Managing Your Mortgage Renewal in a High-Rate Environment

February 10, 2024 | Posted by: Sarabjit Dhuna

Hello homeowners. With interest rates higher than they have been in many years, many of you might be anxious about your upcoming mortgage renewal. It's completely understandable, and you're not alon ...

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Mortgage Refinancing In Canada

Mortgage Refinancing In Canada

February 6, 2024 | Posted by: Roar Solutions

One of the most usual question for homeowners that should we refinance our mortgage or not Our expert can help you to decide whether its right choice or not . Now question come to mind that what is M ...

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Bank of Canada maintains policy rate, continues quantitative tightening

Bank of Canada maintains policy rate, continues quantitative tightening

January 24, 2024 | Posted by: Sarabjit Dhuna

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. Global e ...

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Navigating High Interest Rates: Strategies for New Home Buyers Across Canada

Navigating High Interest Rates: Strategies for New Home Buyers Across Canada

December 19, 2023 | Posted by: Sarabjit Dhuna

Introduction In today's economic landscape, we're seeing a trend that can be quite intimidating for anyone looking to step into the world of home ownership – high interest rates. But fear not! This ...

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Navigating Your Mortgage: Practical Tips from the Experts

Navigating Your Mortgage: Practical Tips from the Experts

December 14, 2023 | Posted by: Sarabjit Dhuna

Managing a mortgage is a journey that requires careful navigation. Mortgage brokers understand the challenges and uncertainties homeowners face when it comes to their mortgage payments. Today's e ...

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Bank of Canada maintains policy rate, continues quantitative tightening

Bank of Canada maintains policy rate, continues quantitative tightening

December 6, 2023 | Posted by: Sarabjit Dhuna

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The ...

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Navigating the New Normal: How Remote Work is Reshaping the Canadian Mortgage and Real Estate Landscape

Navigating the New Normal: How Remote Work is Reshaping the Canadian Mortgage and Real Estate Landscape

December 3, 2023 | Posted by: Sarabjit Dhuna

In recent years, we've witnessed a seismic shift in our work lives, notably the rise of remote work catalyzed by the COVID-19 pandemic. This change isn't just about swapping office desks for dinin ...

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Canada's New Updated Mortgage Charter

Canada's New Updated Mortgage Charter

November 23, 2023 | Posted by: Sarabjit Dhuna

The Canadian Mortgage Charter spells out the rights consumers have when they are renegotiating mortgages. It calls on financial institutions to provide better relief measures over the next three y ...

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Understanding Fixed vs. Variable Rate Mortgages

Understanding Fixed vs. Variable Rate Mortgages

November 15, 2023 | Posted by: Sarabjit Dhuna

If you're on the cusp of getting a mortgage, or if you're considering refinancing, you've likely encountered the terms "fixed rate" and "variable rate" mortgage. These are the two primary pathways i ...

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6 things to know about capital gains and taxes for people across Canada

6 things to know about capital gains and taxes for people across Canada

November 2, 2023 | Posted by: Sarabjit Dhuna

So, you made some cash selling your property or stocks at a higher price than you bought them for? High five! But before you start celebrating, there's this thing called capital gains that might show ...

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Bank Of Canada Rate Update October 25, 2023

Bank Of Canada Rate Update October 25, 2023

October 25, 2023 | Posted by: Sarabjit Dhuna

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5% ...

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Mortgage Strategies in a Rising Interest Rate Environment

Mortgage Strategies in a Rising Interest Rate Environment

October 24, 2023 | Posted by: Sarabjit Dhuna

Hello dear readers, Let's have a coffee chat, shall we? If we were sitting in a cozy café, sipping on lattes (or your beverage of choice), today's hot topic of conversation would undoubtedly revol ...

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Leveraging Your Home Equity to Help Purchase a Home For Your Children: A Prudent Move?

Leveraging Your Home Equity to Help Purchase a Home For Your Children: A Prudent Move?

October 6, 2023 | Posted by: Sarabjit Dhuna

Navigating Parental Assistance in Home Purchases The concept of parents aiding their children in stepping onto the property ladder is not a new one yet it is not ubiquitously adopted. A 2021 ...

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Understanding and Utilizing Home Equity

Understanding and Utilizing Home Equity

October 1, 2023 | Posted by: Sarabjit Dhuna

If you've consistently made mortgage payments over the years, you've been accumulating home equity. As this equity grows, homeowners can access it, converting it into cash for various purposes, from h ...

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Can a first-time home buyer have a mortgage co-signer?

Can a first-time home buyer have a mortgage co-signer?

September 17, 2023 | Posted by: Sarabjit Dhuna

Can New Home Buyers in Canada Use a Mortgage Co-Signer? Struggling to secure a mortgage or need a financial boost? Consider bringing in a co-signer. Dive deeper into this and other home-buying tact ...

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Bank of Canada maintains policy rate, continues quantitative tightening

Bank of Canada maintains policy rate, continues quantitative tightening

September 6, 2023 | Posted by: Sarabjit Dhuna

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Infl ...

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Top Reasons To Refinance Your Home And Reasons Why You Maybe Should Not.

Top Reasons To Refinance Your Home And Reasons Why You Maybe Should Not.

August 23, 2023 | Posted by: Sarabjit Dhuna

Refinancing a mortgage means replacing your existing loan with a new one, either with your current lender or a different one. Canadians often consider refinancing for various reasons, such as ...

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Navigating High-Interest Rates and Inflation: Your Path to Mortgage Resilience

Navigating High-Interest Rates and Inflation: Your Path to Mortgage Resilience

August 5, 2023 | Posted by: Sarabjit Dhuna

Introduction As your trusted mortgage broker, I understand that the current economic backdrop in Canada is presenting challenges for many homeowners. With interest rates on the rise and inflation p ...

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Understanding Credit Scores and Maximizing Mortgage Opportunities in Canada

Understanding Credit Scores and Maximizing Mortgage Opportunities in Canada

July 27, 2023 | Posted by: Sarabjit Dhuna

Introduction In Canada, your credit score plays a crucial role in your financial life, especially when it comes to major transactions like securing a mortgage. A credit score is a numerical r ...

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Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

July 12, 2023 | Posted by: Sarabjit Dhuna

The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. G ...

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Some great tips to help you save for a home

Some great tips to help you save for a home

June 13, 2023 | Posted by: Sarabjit Dhuna

A home for most all Canadians is likely the most significant purchase you will make in your lifetime, so it is essential to be well-prepared. It is crucial to understand how to budget and save for ...

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Strategies for Speeding Up Mortgage Repayment

Strategies for Speeding Up Mortgage Repayment

June 3, 2023 | Posted by: Sarabjit Dhuna

Those of us who desire to own a home often long for the time when our mortgage is paid off. Although the majority of Canadian mortgages are usually amortized over the course of 25 years, there are a ...

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First-Time Home Buyer Budgeting: What You Need to Know

First-Time Home Buyer Budgeting: What You Need to Know

April 20, 2023 | Posted by: Sarabjit Dhuna

As a first-time home buyer, budgeting is an essential part of the home buying process. By carefully planning your finances and considering all of the costs associated with purchasing a home, you can e ...

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Bank Of Canada Rate Update April 12, 2023

Bank Of Canada Rate Update April 12, 2023

April 12, 2023 | Posted by: Sarabjit Dhuna

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4. ...

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Bank of Canada Rate Update March 8, 2023

Bank of Canada Rate Update March 8, 2023

March 8, 2023 | Posted by: Sarabjit Dhuna

Bank of Canada maintains policy rate, continues quantitative tightening The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at ...

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Selling Your Home in the Winter: How You Can Make the Most of It

Selling Your Home in the Winter: How You Can Make the Most of It

March 5, 2023 | Posted by: Sarabjit Dhuna

Selling your home in the winter can be a challenging task, but it can also be an opportunity to stand out in a crowded market. With fewer houses on the market and motivated buyers who are eager to mov ...

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Title insurance and home insurance–protect what matters most

Title insurance and home insurance–protect what matters most

February 27, 2023 | Posted by: Sarabjit Dhuna

When something goes wrong with your home and you suffer a loss, you need to be able to rely on your insurance coverage. Knowing which of your insurance policies to turn to isn't always easy. Title ins ...

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Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening

Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening

January 25, 2023 | Posted by: Sarabjit Dhuna

The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening ...

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Should You Spend the Full Mortgage Amount You're Approved For?

Should You Spend the Full Mortgage Amount You're Approved For?

December 28, 2022 | Posted by: Sarabjit Dhuna

Before you start shopping for a new home, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualify for may not ...

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The Pros and Cons of Fixed vs. Variable Mortgages

The Pros and Cons of Fixed vs. Variable Mortgages

December 8, 2022 | Posted by: Sarabjit Dhuna

When it comes to choosing a mortgage, borrowers in Canada have two main options: a fixed rate mortgage or a variable mortgage. But which type is best for you? Here, we'll take a look at the pros and c ...

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Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening

December 7, 2022 | Posted by: Sarabjit Dhuna

The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening ...

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Bank of Canada Rate Update October 26, 2022

Bank of Canada Rate Update October 26, 2022

October 26, 2022 | Posted by: Sarabjit Dhuna

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.75%, with the Bank Rate a ...

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Best Ways to Plan for Your Down Payment

Best Ways to Plan for Your Down Payment

October 19, 2022 | Posted by: Sarabjit Dhuna

Best Ways to Plan for Your Down Payment Do mortgages seem unaffordable? These tips will help you plan for your down payment so you can start talking to a private lender mortgage broker in no time. ...

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How Mortgage Rates Affect Buying Power?

How Mortgage Rates Affect Buying Power?

September 16, 2022 | Posted by: Sarabjit Dhuna

How Mortgage Rates Affect Buying Power? Do You Know How Your Mortgage Rate Affects Buying Power? To maximize your purchasing power, you should understand how interest rates impact your home buying p ...

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Bank Of Canada Rate Update September 7, 2022

Bank Of Canada Rate Update September 7, 2022

September 7, 2022 | Posted by: Sarabjit Dhuna

Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 3.25%, with the Bank Rate ...

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Should You Pay Off Your Mortgage Early?

Should You Pay Off Your Mortgage Early?

August 24, 2022 | Posted by: Sarabjit Dhuna

It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will explore some o ...

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Bank Of Canada Rate Update July 13, 2022

Bank Of Canada Rate Update July 13, 2022

July 13, 2022 | Posted by: Sarabjit Dhuna

Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 2.5%, with the Bank Rate ...

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Bank Of Canada Rate Update June 1, 2022

Bank Of Canada Rate Update June 1, 2022

June 1, 2022 | Posted by: Sarabjit Dhuna

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at ...

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How a Mortgage Pre-Approval Can Protect You from Rising Rates

How a Mortgage Pre-Approval Can Protect You from Rising Rates

May 26, 2022 | Posted by: Sarabjit Dhuna

With interest rates rising, it's important to lock in a lower rate as soon as possible. You can do this with the right home mortgage pre-approval. Find out how! Do you plan on searching for and buy ...

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How is a Private Mortgage Different Than a Traditional Bank Mortgage

How is a Private Mortgage Different Than a Traditional Bank Mortgage

May 4, 2022 | Posted by: Sarabjit Dhuna

Understanding the difference between private mortgages and traditional bank mortgages can help you make the best decision for financing a new home. Each option provides the money to secure real estate ...

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Bank Of Canada Rate Update April 13, 2022

Bank Of Canada Rate Update April 13, 2022

April 13, 2022 | Posted by: Sarabjit Dhuna

Bank of Canada increases policy interest rate by 50 basis points, begins quantitative tightening The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% ...

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Bank Of Canada Rate Update March 2, 2022

Bank Of Canada Rate Update March 2, 2022

March 2, 2022 | Posted by: Sarabjit Dhuna

Bank of Canada Increases Policy Interest Rate The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is contin ...

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Bank Of Canada Rate Update January 26, 2022

Bank Of Canada Rate Update January 26, 2022

January 26, 2022 | Posted by: Sarabjit Dhuna

Bank of Canada maintains policy rate, removes exceptional forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ...

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Top 10 Questions to Ask Your Mortgage Broker in Ontario

Top 10 Questions to Ask Your Mortgage Broker in Ontario

January 19, 2022 | Posted by: Sarabjit Dhuna

Top 10 Questions to Ask Your Mortgage Broker The mortgage world can sometimes be difficult to navigate when buying a home. However, an experienced Mortgage Broker can help walk you through the proces ...

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How Much of A Mortgage Can You Afford?

How Much of A Mortgage Can You Afford?

January 5, 2022 | Posted by: Sarabjit Dhuna

How Much of a Mortgage Can You Afford? Mortgage Application: How Much of A Mortgage Can You Afford? The mortgage application process involves a buyer's due diligence in calculating how much mortgage ...

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Prequalification and Pre-Approval—What is the Difference? Home Buying in Ontario

Prequalification and Pre-Approval—What is the Difference? Home Buying in Ontario

December 15, 2021 | Posted by: Sarabjit Dhuna

What is the Difference Between Pre-Qualification and Pre-Approval? Prequalification and Pre-Approval-What is the Difference? Prequalification is a basic review of the borrower's information to deter ...

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Bank Of Canada Rate Update December 9, 2021

Bank Of Canada Rate Update December 9, 2021

December 8, 2021 | Posted by: Sarabjit Dhuna

Bank of Canada maintains policy rate and forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent ...

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What to do if You Are Denied a Mortgage

What to do if You Are Denied a Mortgage

November 24, 2021 | Posted by: Sarabjit Dhuna

What to do if You Are Denied a Mortgage Main reasons Why your mortgage application is Denied and What to do If Mortgage lenders reject Yours Mortgage lenders often reject loan application requests f ...

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How to Know if it's Time to Refinance

How to Know if it's Time to Refinance

November 3, 2021 | Posted by: Sarabjit Dhuna

How to Know if it's Time to Refinance According to mortgage advisors, mortgage refinancing is one of the ways to make and save money from your home loan. When done right mortgage refinancing benefits ...

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Bank Of Canada Rate Update Oct 27, 2021

Bank Of Canada Rate Update Oct 27, 2021

October 27, 2021 | Posted by: Sarabjit Dhuna

Bank of Canada maintains policy rate and forward guidance, ends quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with ...

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What Is Home Equity and How Can I Build It?

What Is Home Equity and How Can I Build It?

October 6, 2021 | Posted by: Sarabjit Dhuna

Home equity is an essential asset for creating wealth and income. Learn how home equity is calculated, why it's important, and five steps you can take to build it. As you make monthly mortgage paymen ...

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Bank Of Canada Rate Update Sept 8, 2021

Bank Of Canada Rate Update Sept 8, 2021

September 8, 2021 | Posted by: Sarabjit Dhuna

Bank of Canada maintains policy rate, continues forward guidance and current pace of quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower boun ...

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Getting a Mortgage as a Student

Getting a Mortgage as a Student

August 18, 2021 | Posted by: Sarabjit Dhuna

Purchasing a home is most likely one of the most sizable purchases most of us will ever make, and finally, buying a home is a dream come true for most. For students, it may seem like this dream is fo ...

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What Happens if You Lose Your Job Before Closing?

What Happens if You Lose Your Job Before Closing?

August 4, 2021 | Posted by: Sarabjit Dhuna

A job loss a few days or weeks prior to closing your home purchase can be distressing; especially when you have no alternative source of income. Getting a new job can ease the situation, but it's not ...

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How a Funding Condition Can Secure Purchasers From Financial and Legal Penalties in  Ontario

How a Funding Condition Can Secure Purchasers From Financial and Legal Penalties in Ontario

July 21, 2021 | Posted by: Sarabjit Dhuna

When you make a deal to buy a home, in addition to thinking about how much money to provide, you likewise need to think about any conditions that you want to include. Some common conditions deal with ...

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