When it comes to purchasing a property and securing a mortgage, having a co-signer can be a game-changer. However, it’s crucial for both the primary borrower and the co-signer to grasp the full scope of their responsibilities and rights. This commitment is far from a casual decision, and its ramifications can extend to one’s future […]
First-Time Home Buyers in Canada: Understanding Mortgage Options and Tips
First-Time Home Loan Renewals in Canada: What You Should Know and Tips for Smoother Transactions Navigating the complex world of home loan renewals for the first time in Canada? Understanding the options available is key to making the best financial decision. Here’s a closer look. HELOC vs. Fixed Rate vs. Variable Rate: A Primer When […]
Many Canadian Homeowners Rethink Mortgage Decisions Amidst Rate Increases
While homeownership is widely regarded as a favorable long-term investment by Canadians, many face unforeseen challenges and expenses during their journey. The rapid surge in interest rates over a year, combined with inflationary pressures, has led numerous homeowners to second-guess their mortgage decisions. A study by The Real Estate and Mortgage Institute of Canada (REMIC) […]
What Percentage of Canadian Homeowners Are Mortgage-Free?
Did you know that the majority of Canadian homeowners are mortgage-free? According to a recent study, over 34% of Canadian homeowners do not have a mortgage. It is in stark contrast to the United States, where about 38% of homeowners are mortgage-free. For confident Canadians, mortgage difficulties could be a concern if they had one. […]
