If purchasing a home in Ottawa that currently has a tenant and you would like to live in it, it is important to ask for vacant possession in your offer. Vacant possession Many purchasers when looking at a property with the current tenant ...
In the last few years collateral mortgages have gained quite a bit of a negative reputation. This has been heightened by television shows such as CBC Marketplace. Also, newspapers such as the Toronto Star discussing the downsides to a collateral mortg ...
As we saw on Oct 24th 2018 the Bank of Canada has raised their overnight rate again by 0.25%. This making prime at bank’s now 3.95%. TD Canada Trust’s prime is 0.15% higher than other Canadian banks and currently is at 4.10%. With fixed and variable m ...
CMHC is making changes to assist self employed home buyers. The announcement came on July 19, 2018. CMHC noted that those who are with self employment are a large part of the Canadian workforce. The changes will help those who are self employed obtain ...
Falling behind on income tax can impact your ability to get a mortgage or the best mortgage rates in Ottawa. Most lenders will need to you have your income taxes up to date before being able to obtain a new mortgage whether on a purchase, port or refin ...
When looking for a home, getting a pre approval is a very important step. The quality or thoroughness of a pre approval review can range from completing an online pre approval calculator to at the other end, having a lender review and approve an appli ...
When applying for a mortgage in Ottawa, part of the process is choosing your mortgage payment preference. With six main payment options to choose from, this decision requires careful consideration, as it can significantly impact your financial stabilit ...
The Office of the Superintendent of Financial Institutions (OSFI) released new guidelines for the mortgage industry this past Tuesday. The new rules will come into effect January 1st, 2018. Learn more here about the new mortgage rules and how they wil ...