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Canada’s new mortgage down payment rules took effect this week
The new down payment rules are in full effect. When you purchase a home worth over $500,000, you must put 10% down on any additional amount above $500,000. If you’re buying a home at $500,000 or...
How to save money on heating your home
Winter is here to stay for a few weeks. One downside to this season—especially in Canada—is the need to heat our homes more. The colder the weather gets, the harder your furnace has to work. And, of...
Buying another home? There’s nothing to worry about
Are you in the market for a new home? Perhaps you’ve outgrown your first home, and you’re ready to upgrade to a larger home. Maybe your family recently moved out, prompting you to think that it’s...
How oil prices affect your mortgage
Despite economists forecasting a cut in interest rates, the Bank of Canada announced that it’ll maintain its target for the overnight rate of 0.5%. Commodities and oil prices continue to take a hit,...
Mortgage pre-approval gives you an advantage. Here’s why.
If you’re ready to buy your first home—or even your next home—save time and eliminate hassle with a pre-approved mortgage. The pre-approval process provides you with a specific dollar amount that...
Top 5 reasons to use a Mortgage Alliance broker
Mortgage rates and products are constantly changing, and the Canadian market is more competitive than ever before. By choosing a Mortgage Alliance professional, you can access all your mortgage...
Down payment changes in Canadian mortgage industry
The federal government recently announced additional changes to the down payment required when financing the purchase of a home. Starting in February 2016, CMHC will require a 10% down payment on...
5 things to know when choosing a home builder
If you’re buying a newly constructed home or require renovations to a resale home, you will be hiring a builder or contractor. Here are 5 things to keep in mind when choosing one: Ask for...
3 things each home appraisal should include
Having an independent appraisal done on a property before you make an offer is a good idea. It’ll tell you what the property is worth and help ensure that you don’t pay too much. Your lender can...
How an insurance broker can help you meet your insurance needs
Lenders insist on property insurance because your property is their security for your loan. An insurance broker can help you with your insurance needs, including property insurance and mortgage life...
