The Canadian Mortgage Purchase Plus Improvements Program is a financing option designed for homebuyers who want to purchase a home that requires renovations or upgrades. This program is offered by many Canadian banks and lending institutions, and it allows buyers to borrow additional funds to cover the cost of necessary improvements. In this blog post, […]

Title insurance is a type of insurance that protects the policyholder from financial losses due to defects in the title to a property. In Canada, it is common for banks to require borrowers to obtain title insurance as a condition of approving a mortgage loan. There are several reasons why Canadian banks require title insurance: […]

Certainly! The Canada Mortgage and Housing Corporation (CMHC) is a federal government agency in Canada that provides mortgage loan insurance to help Canadian homebuyers, particularly first-time homebuyers, obtain affordable financing for their homes. It was created in 1946 to facilitate the financing, construction, and maintenance of affordable housing in Canada. As a first-time homebuyer, you […]

Buying a home is an exciting time, but it can also be a stressful one. One of the biggest hurdles to home ownership is coming up with the down payment. Fortunately, the Canadian Mortgage and Housing Corporation (CMHC) offers a program called the Flex Down Mortgage, which allows home buyers to borrow the down payment […]

Shopping for a mortgage can be a daunting task, but it’s an important one that can help you save money and secure a better financial future. Many Canadian homeowners wait until their mortgage maturity date to start shopping for a new mortgage, but you don’t have to wait. Contacting a mortgage broker at any time […]

If you’re a homeowner in Canada, you likely have a mortgage. Mortgages are typically the largest debt that Canadians carry, and they can take years to pay off. However, most mortgages in Canada come with prepayment privileges, which allow you to pay off your mortgage faster and save money in the long run. In this […]

For many Canadians, buying a home is one of the biggest investments they will make in their lifetime. With that comes a mortgage, and the responsibility of paying it off over a period of time. But what happens if you want to pay off your mortgage early? Many lenders in Canada charge prepayment penalties for […]