The Home Happy Blog

5 Things to Help You Survive Your 40s & 50s

5 Things to Help You Survive Your 40s & 50s

You know those days where everything goes wrong and you’re so tired you don’t know what direction’s up? They’re a lot more manageable when you know what you’re working towards. Here’s 5 things that’ll help you survive—and make the most of!—your 40s and 50s. 1. Do work...

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A Strong Case for Homeownership

A Strong Case for Homeownership

Housing affordability questions have placed homeownership and public policy near the top of the national agenda, as mortgage brokers know. Most of the commentary has been focused on the extent to which government policy, particularly with regards to supply, is...

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Finding the Right Home Without Blowing Your Budget

Finding the Right Home Without Blowing Your Budget

If you have been looking to find the right first home within your budget, it's a matter of mind over money, here's some tips from Genworth Financial that will help you keep perspective! It’s hard to say “goodbye” to your dream home. But if you fall for a house that’s...

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Are There More Mortgage Rule Changes Coming?

Recently, the Bank of Canada released its semi-annual Financial Systems Review (PDF document), which identifies some of the major risks that the Bank foresees on the economic horizon. Unsurprisingly, the Bank pinpoints increased levels of Canadian household debt and...

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Don’t Forget to Claim your Home Owner Grant

Just a friendly reminder that your property taxes are due in the next couple of weeks! Now, for many of my clients, this isn't a huge deal as they have opted to have their taxes collected by their lender as part of their regular mortgage payments. Equalized payments...

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Deposit vs Downpayment

As part of the mortgage and real estate processes, there’s a lot of confusion around the differences between the deposit and the downpayment. It's important to understand what sets them apart so you don’t get confused when it’s time to secure financing on a property...

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Understanding Downpayment | Part 4 of 5

As part of a short series that aims to “Understand the Mind of a Lender” we've identified 4 key areas a lender will look at to decide if you're a "good risk" to provide mortgage financing. They are income, credit, downpayment, and property. Here are links to the...

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Spousal Buyout Mortgage?

If you happen to be going through, or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property in order to buyout your ex-spouse. For most couples, their property is their largest...

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Bank of Canada Rate Announcement May 24th, 2017

The Bank of Canada is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Inflation is broadly in line with the Bank’s projection in its April Monetary Policy Report (MPR)....

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Watch What I Do, Not What I Say

Is the government being reckless and irresponsible or will rates be this low forever? Here's a great article that compares the recent changes to mortgage qualifications imposed on Canadians (what the government says) and the government's own borrowing (what they are...

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Mortgage Documentation, Plan Ahead!

Collecting the right documentation to prove you are a worthy candidate to borrow a lot of money to buy a property can be an arduous task. The most recent government rule changes and tightening of mortgage qualification isn't making things easier. If you seem to think...

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As Simple as Porting Your Mortgage!

As simple as porting your mortgage! Said by no one ever. The truth is, there is nothing simple about porting your mortgage. "Porting your mortgage" involves transferring the remainder of your existing mortgage term, outstanding principal balance, and interest rate to...

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