Mortgage Blog
Ontario's Mortgage Expert
Category: Financing (30 posts)
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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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, ...
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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' ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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