Background Image

Mortgage Blog

Ontario's Mortgage Expert

Category: Financing (32 posts)

Tips for Improving Your Credit Score Before Applying for a Mortgage

Tips for Improving Your Credit Score Before Applying for a Mortgage

November 1, 2023 | Posted by: Aaron Phinney

Tips for Improving Your Credit Score Before Applying for a Mortgage For many people, buying a home is a significant milestone in their lives. However, getting approved for a mortgage is ...

read more
Bank Of Canada Rate Update June 7, 2023

Bank Of Canada Rate Update June 7, 2023

June 7, 2023 | Posted by: Aaron Phinney

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 4.75%, with the Bank Rate at 5% and the ...

read more
A Six-Step, Back to Basics Financial Plan for Most Every Canadian

A Six-Step, Back to Basics Financial Plan for Most Every Canadian

November 21, 2022 | Posted by: Aaron Phinney

It's a tough time to know what the right financial move is at the moment. Interest rates are increasing, while stocks are in bearish territory. It's easy to forget that there are smart things that you ...

read more
What are credit scores and how are they important?

What are credit scores and how are they important?

September 1, 2021 | Posted by: Aaron Phinney

A credit score is a number that shows how likely you are to pay or default on credit. It ranges from 300 to 850; the higher the number, the more creditworthy lenders deem you. Your credit history dete ...

read more
2021 Mortgage Stress Test - Latest Updates

2021 Mortgage Stress Test - Latest Updates

April 21, 2021 | Posted by: Aaron Phinney

On April 8th, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is relaunching its consultation on the minimum qualifying interest rate for uninsured mortgages. Usual ...

read more
April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

April 21, 2021 | Posted by: Aaron Phinney

Available as: PDF 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 and the deposit rate at ¼ percent. The ...

read more
April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy

April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy

April 12, 2021 | Posted by: Aaron Phinney

The below details are what has been reported by the Bank of Canada Website Over the past two years, we spoke with thousands of Canadians about their views on the economy, inflation and what the Bank ...

read more
Multi-Family Lending: What You Need To Know About Hard Money Loans

Multi-Family Lending: What You Need To Know About Hard Money Loans

March 8, 2021 | Posted by: Aaron Phinney

Multi-Family Lending: What You Need To Know About Hard Money Loans Multi-family real estate is one of the most popular investments for both newbie and seasoned investors. Buyers in the past used trad ...

read more
How Good vs Bad Debt Impacts Your Household

How Good vs Bad Debt Impacts Your Household

January 27, 2021 | Posted by: Aaron Phinney

In order to understand the difference between good and bad debt, it's important to track your income and expenses and established saving goals for your family. Financial stability allows you to mee ...

read more
3 Tips on How to Better Your Credit Score

3 Tips on How to Better Your Credit Score

December 9, 2020 | Posted by: Aaron Phinney

Having a good credit score is of paramount essence as it affects your ability to access loans and borrow money. Your credit score rating influences the amount of mortgage you qualify for. You may ...

read more
Should You Refinance Your Mortgage?

Should You Refinance Your Mortgage?

January 15, 2020 | Posted by: Aaron Phinney

There are a multitude of reasons why a homeowner may be considering refinancing their mortgage. However, before any final decisions are made it is always a good idea to consider carefully whether refi ...

read more
How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out

How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out

July 24, 2019 | Posted by: Aaron Phinney

It is the perennial question for every first-time homeowner. How much house can I afford? As with so many life-changing decisions, there is no one right answer to this common query, and the size of th ...

read more
3 Smart Ways to Use a Home Equity Line of Credit

3 Smart Ways to Use a Home Equity Line of Credit

March 13, 2019 | Posted by: Aaron Phinney

For homeowners across the globe, home equity lines of credit (HELOCs) have become a handy way of tapping into the value of their homes. However, when borrowing money against your home, it is always ...

read more
How to Improve Your Chances of Being Approved for a Mortgage

How to Improve Your Chances of Being Approved for a Mortgage

December 24, 2018 | Posted by: Aaron Phinney

For most first time home buyers, obtaining a mortgage is a crucial part of the purchasing process. However, being approved for a mortgage is often easier said than done. It can be disheartening to f ...

read more
Should You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else?

Should You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else?

September 26, 2018 | Posted by: Aaron Phinney

When getting a home mortgage, if you can afford higher payments, often the option of a 15-year loan instead of one of 30 years is an option. It can be an enticing idea to know that you'll be free of a ...

read more
Planning to Refinance Your Mortgage? Ask These 4 Questions First

Planning to Refinance Your Mortgage? Ask These 4 Questions First

April 11, 2018 | Posted by: Aaron Phinney

Deciding to refinance is a crucial financial move that can help you make significant savings. When you plan properly, do your research, and take time to evaluate where you stand financially, you'll be ...

read more
Four Strategies That Can Help You Get Approved for a Mortgage

Four Strategies That Can Help You Get Approved for a Mortgage

February 14, 2018 | Posted by: Roar Solutions

So, you've decided to take the big step and look into getting what will likely be the biggest loan of your entire life: a mortgage. Applying for a mortgage can be a bit of a nerve-wracking process, es ...

read more
Can You Afford to Buy a New Home?

Can You Afford to Buy a New Home?

December 27, 2017 | Posted by: Aaron Phinney

Is Purchasing a New Home in Your Budget? If you're throwing your hard-earned money away on rent each month, putting that same amount towards your own home could be an incredible advantage. However, i ...

read more
Credit Card Debt vs Mortgage Debt: Which Should You Pay Off?

Credit Card Debt vs Mortgage Debt: Which Should You Pay Off?

November 8, 2017 | Posted by: Aaron Phinney

It's always a good idea to pay down your debt when you have extra cash on hand. However, as you get started, you will probably be faced with several types of debt you can work on, and it's hard to kno ...

read more
Five Reasons Why You Should Have More Than One Bank Account

Five Reasons Why You Should Have More Than One Bank Account

October 11, 2017 | Posted by: Aaron Phinney

In today's tech world, being victimized by hackers can leave you penniless if you have only one bank account. The following five situations demonstrate how a having a backup account can keep you ...

read more
5 Ways to Simplify Your Financial Life

5 Ways to Simplify Your Financial Life

August 9, 2017 | Posted by: Aaron Phinney

No matter who you are or what you do for a living, it can seem like your bank statements, credit card receipts, and other financial documents are burying you alive. If you are struggling under the wei ...

read more
Buying a Home, Step One: Mortgage Pre-Approval

Buying a Home, Step One: Mortgage Pre-Approval

April 11, 2017 | Posted by: Aaron Phinney

Whether you're looking to buy your first home, or haven't purchased a home in the past several years, you may be surprised to discover that searching your local real estate listings is not the best pl ...

read more
Why Remortgage? 4 Excellent Reasons to Consider Refinancing Your Home

Why Remortgage? 4 Excellent Reasons to Consider Refinancing Your Home

March 14, 2017 | Posted by: Aaron Phinney

Your home is probably the most significant purchase you'll ever make, yet it's surprising how many people simply continue paying their mortgage every month without thinking too much about it. However, ...

read more
How to Use Debt Consolidation Loans Effectively and Safely

How to Use Debt Consolidation Loans Effectively and Safely

January 11, 2017 | Posted by: Aaron Phinney

Visit almost any financial site on the web, or watch nearly any daytime TV channel, and you're likely to see advertisements promising that a consolidation loan can solve all your debt problems. There' ...

read more
Should You Borrow Money to Invest in Real Estate?

Should You Borrow Money to Invest in Real Estate?

December 28, 2016 | Posted by: Aaron Phinney

There's no disputing that real estate investment is one of the best business models for those looking to achieve long-term financial success. The one problem most would-be investors have, however, is ...

read more
Saving For College: Four Tips For Parents

Saving For College: Four Tips For Parents

November 23, 2016 | Posted by: Aaron Phinney

One of the prime concerns of parents, especially parents of teenagers, is how their children will be able to afford college tuition. With prices going up each year at even state and community colleges ...

read more
Is Having No Credit As Risky As Having Bad Credit?

Is Having No Credit As Risky As Having Bad Credit?

October 12, 2016 | Posted by: Aaron Phinney

Let's clear up one misconception, right off the bat: having no credit is not the same as having bad credit. 'No credit' simply means that your credit history - which tracks your loans and repayments o ...

read more
Why Should I Repair My Credit?

Why Should I Repair My Credit?

September 14, 2016 | Posted by: Aaron Phinney

Your credit history is more than just a number; it affects nearly every aspect of your financial life. If you are suffering from a low credit score, you're probably an excellent candidate for credit r ...

read more
How to Manage Your Credit Card Debt: A 4-Step Strategy

How to Manage Your Credit Card Debt: A 4-Step Strategy

July 13, 2016 | Posted by: Aaron Phinney

Being in debt is undoubtedly stressful, more so when the interest rates keep pushing your overall debt to skyrocketing amounts. Many people fall into the temptations of unnecessary expenditures and en ...

read more
Why You Need an Emergency Fund And How to Get One

Why You Need an Emergency Fund And How to Get One

June 22, 2016 | Posted by: Aaron Phinney

Building an emergency fund is something most people know they should do but few actually get around to doing. A recent study found that nearly two-thirds of Americans did not have an emergency fund, a ...

read more
The Benefits of Investing in Income Producing Properties

The Benefits of Investing in Income Producing Properties

June 15, 2016 | Posted by: Aaron Phinney

Making money in any real estate venture is a difficult task, and many people don't have the skills (or the stomach) for flipping houses. An alternative to this intrinsically risky activity is to purch ...

read more
Strategies to Dig Yourself Out of the Debt Hole

Strategies to Dig Yourself Out of the Debt Hole

June 8, 2016 | Posted by: Aaron Phinney

Debt. It's something almost everyone will have at some point in their life. But what happens when your debt begins to get the better of you? What options are available? Some simple strategies can he ...

read more