Remember when your broker or banker asked you which you would prefer a fixed-rate mortgage or a variable? Most Canadians based their decision on the rates of the day and how much they would save against the fear of rates moving up.

If you are business for self, as a sole proprietor or incorporated or commissioned income you know how hard it is to get a loan with traditional bank practices. Writing off your allowable amounts on your income tax return often resulted in less claimed income and decreased your borrowing ability.

The pandemic has changed “why” Canadians renovated. Remax 2021 Renovation Investment Reported that more than half of Canadians renovated their home in 2020, with 29% of those renovating to enhance lifestyle and only 16% to increase market value.

For many Canadians this past year was an experiment in working from home. Few of us will forget March 2020, when we were asked to move to our home office and not come into the office. Zoom meetings with poorly lit desks, background noise, dogs barking, kids crying soon became normal, heck we even started to catch on that we could wear a nice shirt with comfy sweat pants all day!

I often get asked what the difference is between using a mortgage agent or broker and going through a bank. We are both offering mortgage products right? While that statement is correct, to some degree, there are many benefits to using a mortgage agent or broker that far outweigh those of the bank.

Your credit score is essentially a snapshot of your current financial situation and gives lenders an accurate indication of your ability to pay back a loan, based on your previous debt repayment history.

As 2021 approaches, it’s a good time to take a look at the incentives that will remain for First-Time Home Buyers into the new year. As home price increases begin to slow, and mortgage interest rates reach historic lows, for many people, it may be a great time to make that leap into purchasing their first home.

Making a home purchase of a property that looks like it will need a bit of work? Not all renovations are equal when it comes to return on investment, so it’s good to start with those that will get you the best bang for your buck.