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More Seniors are Taking Advantage of Reverse Mortgages

More Seniors are Taking Advantage of Reverse Mortgages

by Zohreh Fayaz | Aug 7, 2020 | Blog, Economy, Homeownership

Canadian seniors who are feeling the financial effects of the COVID-19 pandemic are showing interest in reverse mortgages as a way to stay in their current homes.   With a reverse mortgage, Canadians aged 55+ can borrow funds against home equity. No payments are...
Listen to Experts About Housing Predictions, Not the Media

Listen to Experts About Housing Predictions, Not the Media

by Zohreh Fayaz | Jul 17, 2020 | Blog, Economy, Homeownership, Mortgage

It’s important not to subscribe to the doom and gloom media reports about the Canadian housing market, especially in the midst of COVID-19 emergency measures.    The reality is that, regardless of what you’re reading in the mainstream media, people are still...
vWhat are Your Mortgage Renewal Options?

vWhat are Your Mortgage Renewal Options?

by Zohreh Fayaz | Jul 3, 2020 | Blog, Economy, Homeownership, Mortgage

When you took out your current mortgage, you were required to make a number of key decisions, such as the type of rate you wanted – fixed or variable – the amortization period, whether it was open or closed as well as what term you wanted.    A mortgage term...
What Do You Need to Be Preapproved for a Mortgage?

What Do You Need to Be Preapproved for a Mortgage?

by Zohreh Fayaz | Jun 19, 2020 | Blog, Economy, Homeownership

Before you head out home shopping, it’s important to first determine how much you can comfortably afford to spend. Not only will getting your mortgage agent to arrange a pre-approval help you understand what lenders look for when granting you a home loan, but it will...
Have an Insured Mortgage? How Could CMHC Changes Affect You?

Have an Insured Mortgage? How Could CMHC Changes Affect You?

by Zohreh Fayaz | Jun 5, 2020 | Announcements, Blog, CMHC, Economy, Finance

The COVID-19 pandemic is having an impact on all sectors of Canada’s economy, including housing. Job losses, business closures and a drop in immigration are adversely affecting Canada’s housing markets, and CMHC foresees a 9% to 18% decrease in house prices over the...
Why’s Your Debt-to-Income Ratio Important?

Why’s Your Debt-to-Income Ratio Important?

by Zohreh Fayaz | May 15, 2020 | Blog, Economy, Homeownership

A debt-to-income ratio (DTI) is a comparison of your monthly debt payments versus your monthly income. Lenders use this formula to determine how well you manage your monthly debt and your likeliness of repaying a loan. Debt obligations refer to such things as credit...
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