Mortgage Blog

Category: Mortgage (143 posts)

Mortgage Renewals in Early 2025 – Where Might Rates End Up?

May 4, 2025 | Posted by: Sarabjit Dhuna

A friendly guide for Canadian homeowners who are about to renegotiate one of the biggest contracts of their lives. Introduction - Why Everyone Is Talking About 2025 Renewals If your mortgage is co ...

How to utilize most of the home equity?

May 1, 2025 | Posted by: Sarabjit Dhuna

Making the most of your home equity means leveraging the value you’ve built up in your home to improve your financial situation or achieve other goals. Here are the main ways to do that: 1. Hom ...

April 16 - 2025 - Bank of Canada holds policy rate at 2.75%

April 16, 2025 | Posted by: Sarabjit Dhuna

The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. The major shift in direction of US trade policy a ...

What is Commercial Mortgage and how to get it?

April 15, 2025 | Posted by: Sarabjit Dhuna

What Is a Commercial Mortgage and How to Get One? If you're a business owner or investor looking to purchase commercial property, you've likely come across the term commercial mortgage. It might so ...

Tariffs and Their Effect on Interest Rates: What Canadian Homeowners Should Know

April 5, 2025 | Posted by: Sarabjit Dhuna

You might be surprised to learn how tariffs-taxes on imported goods-can affect your mortgage or home-buying plans. Tariffs can indirectly influence interest rates, which impacts mortgage payments and ...

What credit score you need to get lower mortgage rates?

April 1, 2025 | Posted by: Sarabjit Dhuna

In Canada, your credit score plays a crucial role in determining the mortgage rate you qualify for. Here’s a general breakdown: Ideal Credit Scores for Lower Mortgage Rates: ✅ Excellent ...

We are Partnering With SickKids Foundation

April 1, 2025 | Posted by: Sarabjit Dhuna

We are Very happy to announce the partnership with SickKids Foundation. We will be Donating Some of percentage of the commision to SickKids Foundation after Closing each mortgage Deals. It is Always B ...

Pros & Cons of Paying Off Your Mortgage Before Retirement

March 27, 2025 | Posted by: Sarabjit Dhuna

If retirement is approaching, you may be considering whether it's wise to pay off your mortgage early. As with many significant financial decisions, there isn't a one-size-fits-all answer. However, un ...

Tips to get Better Mortgage Renewal Rates

March 27, 2025 | Posted by: Sarabjit Dhuna

Negotiating your mortgage renewal in Canada can save you money in the long run. Here are some tips to help you get the best deal: 1. Start Early Don’t wait until the last minute. Mortgage ...

How Can I buy Home with bad Credit?

March 27, 2025 | Posted by: Sarabjit Dhuna

Buying a home with bad credit in Canada can be challenging, but it’s not impossible. Here are some strategies you can consider to increase your chances of securing a mortgage: 1. Save for a Lar ...

Pre-Qualified vs Pre-Approved in Mortgage

March 20, 2025 | Posted by: Sarabjit Dhuna

Pre-Qualified:Definition: Pre-qualification is an initial, informal assessment of your financial situation based on the information you provide to a lender. It usually involves a basic review of you ...

All About Insured Mortgage

March 20, 2025 | Posted by: Sarabjit Dhuna

In Canada, an insured mortgage is a type of mortgage that is protected by an insurance policy, which reduces the risk for lenders in case the borrower defaults. This type of insurance is typically req ...

25 years vs 30 years mortgage in Canada.

March 13, 2025 | Posted by: Sarabjit Dhuna

In Canada, the advantages and disadvantages of a 25-year mortgage versus a 30-year mortgage are similar to those in other countries, but there are some nuances specific to the Canadi ...

March 12-2025 - Bank of Canada reduces policy rate by 25 basis points to 2.75%

March 12, 2025 | Posted by: Sarabjit Dhuna

The Bank of Canada today reduced its target for the overnight rate to 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. The Canadian economy entered 2025 in a solid position, with infl ...

All About Home equity

March 11, 2025 | Posted by: Sarabjit Dhuna

Making the most of your home equity involves leveraging the value of your home to meet your financial goals. Here are several strategies to consider: 1. Home Equity Loan or Line of Credit (HELOC) ...

Mortgage Renewal Coming UP and rates higher than 5 yrs ago - Consider increasing your amortization?

March 7, 2025 | Posted by: Sarabjit Dhuna

If your mortgage renewal date is approaching, it's important to take action. You might notice something that's hard to ignore: interest rates are significantly higher now than five years ago. You're n ...

How to change Mortgage lender

March 6, 2025 | Posted by: Sarabjit Dhuna

Changing your mortgage lender in Canada is possible, but it involves a few steps and careful planning. Here’s an outline of the process: 1. Review Your Current Mortgage Agreement Before cons ...

How Trump's Tariffs Could Impact Mortgage Rates in Canada

March 6, 2025 | Posted by: Sarabjit Dhuna

The impact of Trump's tariffs on mortgage rates in Canada could be indirect but significant, given the interconnectedness of global trade, financial markets, and economic policies. Here are several wa ...

what one should and should not do when working with mortgage Broker

March 4, 2025 | Posted by: Sarabjit Dhuna

When working with a mortgage broker, it's essential to maintain a professional and informed relationship to ensure the best outcomes for your home loan process. Here are some dos and don’ts to g ...

Everything about shopping for mortgage rates

March 4, 2025 | Posted by: Sarabjit Dhuna

Shopping for a mortgage in Canada can feel overwhelming, but there are some strategies to make the process easier and help you find the best deal. Here are the best ways to shop for a mortgage: 1. Kn ...

How will tariffs potentially affect Interest rates

February 26, 2025 | Posted by: Sarabjit Dhuna

As a mortgage broker in Canada, I often get questions about how global economic events might affect our financial landscape, particularly when it comes to interest rates and the cost of borrowing. One ...

Faster ways to pay Mortgage

February 18, 2025 | Posted by: Sarabjit Dhuna

Paying off a mortgage faster in Canada can save you a significant amount of money in interest over the life of the loan. Here are several strategies you can use to pay off your mortgage more quickly ...

Is Now the Right Time to Refinance Your Mortgage?

February 5, 2025 | Posted by: Sarabjit Dhuna

With interest rates in Canada decreasing, many homeowners are considering whether this may be the ideal time to refinance. Refinancing involves replacing your current mortgage with a new one, idea ...

Bank of Canada reduces policy rate by 25 basis points to 3%, announces end of quantitative tightening

January 29, 2025 | Posted by: Sarabjit Dhuna

The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% and the deposit rate at 2.95%. The Bank is also announcing its plan to complete the no ...

Fixed-Rate vs. Adjustable-Rate Mortgages: Which Might Be Right for You?

January 21, 2025 | Posted by: Sarabjit Dhuna

Hello there, and welcome! As a mortgage broker here in Canada, I know that diving into the world of mortgages can feel like stepping into a labyrinth of numbers and jargon. Today, let's have a fri ...

Everything about 20% down Payment

January 16, 2025 | Posted by: Sarabjit Dhuna

Down payment is the amount that you use to purchase the house. There are mainly 5% and 20% down payment option to purchase house. 5% is excellent options to enter into housing market. 20% is also go ...

Everything about Low Mortgage Downpayment (5%) in Canada

January 14, 2025 | Posted by: Sarabjit Dhuna

5% down payment is really good option to enter into housing market for young people. While 20% down payment offers long term benefits like economic advantages and you can also save money for the lon ...

Government announces boldest mortgage reforms in decades to unlock homeownership for more Canadians

December 16, 2024 | Posted by: Sarabjit Dhuna

Canadians work hard to be able to afford a home. However, the high cost of mortgage payments is a barrier to homeownership, especially for Millennials and Gen Z. To help more Canadians, particularly ...

Dec 11-2024 - Bank of Canada reduces policy rate by 50 basis points to 3.25%

December 11, 2024 | Posted by: Sarabjit Dhuna

The Bank of Canada today reduced its target for the overnight rate to 3¼%, with the Bank Rate at 3¾% and the deposit rate at 3¼%. The Bank is continuing its policy of balance sheet no ...

Difference between Private Mortgage, Credit Union, Banks

December 3, 2024 | Posted by: Sarabjit Dhuna

There are few ways to get mortgage in Canada. Most commons are 1) Bank 2) Credit Union 3) Private lender. In these all-option Bank holds more than 60% of mortgages. You may feel like bank is only op ...

What steps should you consider if you get declined by bank?

December 3, 2024 | Posted by: Sarabjit Dhuna

In recent years, getting rejection from bank is increased. However, it does not mean that you are never going to get home. In this article, i will mention about what is reason behind rejection and w ...

Buying Home with Bad credit

November 26, 2024 | Posted by: Sarabjit Dhuna

Buying home is important decision in life. However, with Bad credit it will be like really difficult. In this article, I will show you ways to buy home with bad credit. About Credit ...

Everything about Mortgage Creditor Insurance

November 21, 2024 | Posted by: Sarabjit Dhuna

Around 35% to 40% of the Canadian homeowners have Mortgage creditor insurance. this statatic shows the importance of the mortgage creditor insurance. What is Mortgage creditor Insurance?& ...

Looking For Extra funds for home Renovation, Education etc.

November 21, 2024 | Posted by: Sarabjit Dhuna

If you are looking for extra funds for improving your home, investment or education purpose, you want to make down payment for rental property and you want consolidate your debts into one so, you ca ...

Everything about Halal Mortgage

November 14, 2024 | Posted by: Sarabjit Dhuna

Halal Mortgage is also known as no interest-based Mortgage. It is Sharia (Islamic)-compliant lending product that use to buy home that avoid interest-based charges. As per Islamic law, c ...

Unlocking Home Ownership: What Canadian Homebuyers Need to Know About Property Value

November 4, 2024 | Posted by: Sarabjit Dhuna

The Canadian dream of home ownership is evolving. With fluctuating property values and shifting market dynamics, understanding the real estate landscape is more crucial than ever for prospective hom ...

October 23-2024: Bank of Canada reduces policy rate by 50 basis points to 3.75%

October 24, 2024 | Posted by: Sarabjit Dhuna

The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is continuing its policy of balance sheet normal ...

Everything about Mortgage Penalties

October 15, 2024 | Posted by: Sarabjit Dhuna

You have sign Mortgage contract agreement with lender for close term and you find yourself to return this mortgage early that means you are breaking mortgage early. Therefore, lender will impose som ...

Everything about CMHC Insurance

October 10, 2024 | Posted by: Sarabjit Dhuna

There around more than 45% people in Canada used CMHC mortgage loan insurance to buy their first home. In this article, I will mention everything about CMHC insurance. CMHC Insurance ...

Everything about Private Lender

October 10, 2024 | Posted by: Sarabjit Dhuna

Since September 2022, Share of the Private mortgage surge around 30% to 40%. More Homeowner are considering to get private mortgage for their flexible rules and regulation. However, private mortgage ...

Is a Reverse Mortgage Right for You?

October 8, 2024 | Posted by: Sarabjit Dhuna

A reverse mortgage is a great financial tool for homeowners over 55 who want to stay in their homes while accessing the value they've built up over the years. It provides additional income, eliminates ...

Finally Stress test Removed from all types of Renewal Switches

October 3, 2024 | Posted by: Sarabjit Dhuna

OSFI Finally Announced elimination of stress test requirements for uninsured mortgage. Finally, both insured and uninsured mortgage does not require to have mortgage stress at renewals or whenever t ...

Mortgage Prepayment Privilege

September 19, 2024 | Posted by: Sarabjit Dhuna

Understanding Mortgage Prepayment privilege can be extremely helpful to pay mortgage quickly and also how you can save money by paying mortgage faster. Mortgage Prepayment privilege usually denoted ...

Tips For Better Renewal

September 12, 2024 | Posted by: Sarabjit Dhuna

Rates are finally falling down. However, it's still long way to go. If your renewal date is just around the corner then don't accept the rate first you get. Here is the guide for getting better rene ...

Benefits of Renovation Loans

September 10, 2024 | Posted by: Sarabjit Dhuna

Did you know around 30 to 40 % of homeowners are ready renovate home by 2 years and the budget they are going to average budget around $20k to $40k. Renovation Loan ...

With Lower Interest Rates, Is Now a Good Time to Refinance My Mortgage?

September 6, 2024 | Posted by: Sarabjit Dhuna

With interest rates dropping, many homeowners ask the same question: Is now the right time to refinance my mortgage?* The simple answer? It could be! But as with most financial decisions, a few factor ...

Sept 4th, 2024 - Bank of Canada reduces policy rate by 25 basis points to 4.25%

September 4, 2024 | Posted by: Sarabjit Dhuna

The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is continuing its policy of balance sheet normalization. ...

How Lower Interest Rates Could Benefit Canadian Homeowners: Is Now the Time to Refinance?

August 23, 2024 | Posted by: Sarabjit Dhuna

As a Canadian homeowner, you're probably hearing a lot of buzz about falling interest rates. You might be wondering, "Is this the right time to refinance my mortgage?" The short answer is, it could be ...

What are Alternative Mortgage Lenders?

August 8, 2024 | Posted by: Sarabjit Dhuna

In the dynamic world of real estate, securing a mortgage can often be daunting, especially for individuals with unique financial situations. This is where alternative mortgage lenders come into play ...

July 7, 2024 - Bank of Canada reduces policy rate by 25 basis points to 4.5%

July 24, 2024 | Posted by: Sarabjit Dhuna

The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. ...

Everything about Breaking mortgage

July 16, 2024 | Posted by: Sarabjit Dhuna

Breaking mortgage means breaking the contract before amortization period. You will pay penalty or fees for breaking mortgage. What do you want to Break mortgage? You want ...

Everything about 3rd Mortgage

July 11, 2024 | Posted by: Sarabjit Dhuna

3rd Mortgage is the type of loan that is against your property. 3rd Mortgage provide Homeowners tool that can tap into their equity of their home. 3rd mortgage can help homeowners with various types ...

What factors bank of Canada consider for interest rate?

July 9, 2024 | Posted by: Sarabjit Dhuna

Have you ever thought about who controls economy, Global events, innovation? There are many factors that are affecting economy, global events and innovations. However, if you talk about mortgage the ...

7 Things to Know When You Are Looking to Purchase a Cottage or Vacation Home

July 8, 2024 | Posted by: Sarabjit Dhuna

Purchasing a cottage or vacation home can be an exciting venture, offering a perfect getaway from the hustle and bustle of city life. However, it's essential to approach this purchase with careful con ...

Everything about Mortgage Stress test

July 2, 2024 | Posted by: Sarabjit Dhuna

Lenders use stress test to see if you can manage higher payments when the rate goes up or income goes down. They will set limit on how much you can borrow money buy house. Mortgage ...

Everything About Posted Rates and actual rates

June 27, 2024 | Posted by: Sarabjit Dhuna

Are you thinking to buy new home or looking for renewal? Looking at mortgage rates might be confusing. Whenever you see great rates then you want to get that rate. Lower rates can help you to save y ...

How Different debts affect your mortgage approval

June 25, 2024 | Posted by: Sarabjit Dhuna

Are you to trying to buy new home? Your any types of debts are critical part of getting mortgage approval. In this article, we outline that how different debts affect your mortgage approval. ...

7 Smart Strategies to Help Save Money on Your Mortgage

June 21, 2024 | Posted by: Sarabjit Dhuna

Hello, and welcome to our blog! If you're reading this, chances are you're looking for ways to make your mortgage more manageable. Whether you're a first-time homebuyer or a seasoned homeowner, findin ...

Everything about B lender or Alternative Lender

June 20, 2024 | Posted by: Sarabjit Dhuna

Since several years home price and Mortgage rate have been increasing and because of that its really difficult to qualify from bank for the mortgage. Bank or traditional Mortgage has strict policy t ...

Everything about Collateral Mortgage and Standard Mortgage

June 11, 2024 | Posted by: Sarabjit Dhuna

Buying a house is one of the most important decisions in one’s life. It is a lesser popular word because it is often misunderstood. In this article, i have mention about advantages and disadva ...

All about Mortgage Insurance

June 11, 2024 | Posted by: Sarabjit Dhuna

When you have less than 20% down payment then you need to have mortgage insurance that incurs premium however, there are several Benefits for insured mortgage as well. Insured Mortgage A ...

Qualification for mortgage after you bankrupt or consumer proposal

June 11, 2024 | Posted by: Sarabjit Dhuna

You might think after you declared bankruptcy or consumer proposal you are never able to buy house however, this is wrong information many people believe. You may be able to qualify for mortgage or ...

How Lower Interest Rates Can Impact Your Mortgage: Insights for Canadians

June 7, 2024 | Posted by: Sarabjit Dhuna

The Bank of Canada recently made headlines by lowering its interest rates for the first time in over two years. This decision has significant implications for Canadians, particularly t ...

June 5 - 2024 - Bank of Canada reduces policy rate by 25 basis points

June 5, 2024 | Posted by: Sarabjit Dhuna

The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization. ...

Mortgage Refinance or Mortgage Renewals

May 30, 2024 | Posted by: Sarabjit Dhuna

Let's first understand Mortgage Refinance and Mortgage Renewals. In this article I have outlined the benefits and risks of Mortgage Refinance and Mortgage Renewals. Both are good in their way; it de ...

When to Consider a Private Mortgage: A Guide for Canadian Homebuyers

May 23, 2024 | Posted by: Sarabjit Dhuna

Navigating the world of Canadian mortgages can be scary, especially when traditional lenders, like banks and credit unions, close their doors. This is where private mortgages come into play. For ...

All About Reverse Mortgage

May 21, 2024 | Posted by: Sarabjit Dhuna

All About Reverse Mortgage In times of economic uncertainty, most homeowners are looking find ways to tap into equity in their home. There are many options available in the market li ...

All About 2nd Mortgage

May 16, 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 ...

All About Adjustable-Rate Mortgage (ARM)

May 14, 2024 | Posted by: Sarabjit Dhuna

Adjustable-Rate Mortgage is payment that changes with the prime interest rate. Adjustable-Rate Mortgage is also called Floating Mortgages. There are two types of Variable Mortgage rate 1) Adjustable- ...

All About Debt Consolidation

May 14, 2024 | Posted by: Sarabjit Dhuna

In the following article, we will give some tips on how to manage money better with debt consolidation. In addition, we will talk about how you save money by combining your debts into mortgage that ...

5 Great Ways to Improve Your Credit Score

May 8, 2024 | Posted by: Sarabjit Dhuna

As a mortgage professional, we often work with clients who are eager to improve their credit scores. A higher credit score not only increases your chances of getting approved for a mortgage bu ...

First time home buyers tax Credit

April 30, 2024 | Posted by: Sarabjit Dhuna

Federal Government offers Several benefits like FHSA, HBP plan and First-time home Buyer's tax credit for first-time home buyers. You can claim first-time Home buyers tax credit after you purchase h ...

RRSP Home Buyers Plan

April 24, 2024 | Posted by: Sarabjit Dhuna

In 2024, the Canadian government made significant changes to the Registered Retirement Savings Plan (RRSP) Home Buyers' Plan (HBP), aiming to make homeownership more accessible, particularly for ...

Home buyers Plan (first time home buyer)

April 23, 2024 | Posted by: Sarabjit Dhuna

Federal government announced that from 16th April 2024, first-time home buyer can withdraw up to $60K (previously $35K) without any tax penalties and those who withdraw between Jan.1 and dec 31 2025 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

Bank of Canada maintains policy rate, continues quantitative tightening

January 24, 2024 | Posted by: Sarabjit Dhuna

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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% ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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. ...

Bank of Canada Rate Update March 8, 2023

March 8, 2023 | Posted by: Sarabjit Dhuna

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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. ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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% ...

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 ...

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 ...

Top 10 Questions to Ask Your Mortgage Broker in Ontario

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

Category: Mortgage (143 posts)

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