The national bank regulator says it will no longer require borrowers to stress test if they’re moving their uninsured mortgage from an existing provider to another one. This will make it easier for borrowers to switch lenders at renewal and…
Whether planning for retirement, funding a major expense or aiming to build long-term wealth, your home's equity presents many opportunities for financial growth. Understanding how to effectively leverage your equity is key to unlocking its full potential. Home Equity Loan…
Canada Mortgage and Housing Corporation is discontinuing the first-time homebuyer incentive. The deadline for new or resubmitted applications is March 21. Launched in 2019, the program was meant to help reduce monthly mortgage payments for first-time buyers by having the…
Making a mortgage payment is often more desirable than paying rent. Homeownership helps you build equity and offers financial (and personal) stability. But the thought of carrying a mortgage for decades can be daunting. Whether at the beginning of your…
It is more difficult for potential borrowers to get qualified for loans subject to the stress test, as shown by declining ratios of mortgage loan approvals to applications in the first half of 2022. This is just one finding in…
The City of Toronto has enhanced its Home Energy Loan Program (HELP), offering zero-interest loans and incentives to help homeowners make their properties more energy-efficient. For a limited time, Toronto homeowners can access interest-free loans of up to $125,000 for terms…
Sometimes when you buy a new home and sell your existing one the closing dates don’t line up. When this happens, how do you pay for your new abode if you don’t yet have the money from the sale of…
The federal government has introduced tighter mortgage qualification rules in an effort to cool Canada’s hot housing market. The new minimum qualifying rate of 5.25%, known as the ‘stress test,’ came into effect June 1. (Prior to this, the benchmark rate…
It is important to figure out how much you can comfortably afford ahead of home hunting to avoid being house rich and cash poor after your purchase. Also, the more you know about your current financial situation, the better prepared…
People looking to break into the housing market may face an uphill battle come July 1. The country’s largest insurer of residential mortgages is tightening its lending rules for “riskier” borrowers, defined as those with less than 20% down payment.…
Clare Tattersall
Sales Representative
Direct: 647.625.3282
Office: 416.762.8255
Email: clare@realtorontowest.com
Royal LePage Real Estate Services Ltd., Brokerage
2320 Bloor St. W., Toronto, ON M6S 1P2
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