Mortgage Blog

Category: Financing (29 posts)

Understanding Capital Gains in Canada

November 11, 2024 | Posted by: Cornell Tulloch

What Are Capital Gains? Capital gains refer to the profit you earn when you sell a capital asset-such as property or investments-for more than its original purchase price. For example, if you bough ...

7 Financial Tips for People Looking to Buy an Investment Property in Canada

July 19, 2024 | Posted by: Cornell Tulloch

Investing in real estate can be a powerful way to build wealth, but it's essential to approach it with a well-thought-out strategy. Here are seven financial tips to help you purchase an investment pro ...

Tips for Improving Your Credit Score Before Applying for a Mortgage

November 20, 2023 | Posted by: Cornell Tulloch

Tips for Improving Your Credit Score Before Applying for a Mortgage For many people, buying a home is a significant milestone in their lives. However, getting approved for a mortgage is ...

Bank Of Canada Rate Update June 7, 2023

August 7, 2023 | Posted by: Cornell Tulloch

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 4.75%, with the Bank Rate at 5% and the ...

A Six-Step, Back to Basics Financial Plan for Most Every Canadian

May 1, 2023 | Posted by: Cornell Tulloch

It's a tough time to know what the right financial move is at the moment. Interest rates are increasing, while stocks are in bearish territory. It's easy to forget that there are smart things that you ...

What are credit scores and how are they important?

September 5, 2022 | Posted by: Cornell Tulloch

A credit score is a number that shows how likely you are to pay or default on credit. It ranges from 300 to 850; the higher the number, the more creditworthy lenders deem you. Your credit history dete ...

2021 Mortgage Stress Test - Latest Updates

June 13, 2022 | Posted by: Cornell Tulloch

On April 8th, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is relaunching its consultation on the minimum qualifying interest rate for uninsured mortgages. Usual ...

April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

May 30, 2022 | Posted by: Cornell Tulloch

Available as: PDF The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The ...

April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy

May 23, 2022 | Posted by: Cornell Tulloch

The below details are what has been reported by the Bank of Canada Website Over the past two years, we spoke with thousands of Canadians about their views on the economy, inflation and what the Bank ...

Multi-Family Lending: What You Need To Know About Hard Money Loans

May 2, 2022 | Posted by: Cornell Tulloch

Multi-Family Lending: What You Need To Know About Hard Money Loans Multi-family real estate is one of the most popular investments for both newbie and seasoned investors. Buyers in the past used trad ...

How Good vs Bad Debt Impacts Your Household

April 11, 2022 | Posted by: Cornell Tulloch

In order to understand the difference between good and bad debt, it's important to track your income and expenses and established saving goals for your family. Financial stability allows you to mee ...

3 Tips on How to Better Your Credit Score

March 21, 2022 | Posted by: Cornell Tulloch

Having a good credit score is of paramount essence as it affects your ability to access loans and borrow money. Your credit score rating influences the amount of mortgage you qualify for. You may ...

Should You Refinance Your Mortgage?

October 18, 2021 | Posted by: Cornell Tulloch

There are a multitude of reasons why a homeowner may be considering refinancing their mortgage. However, before any final decisions are made it is always a good idea to consider carefully whether refi ...

How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out

August 9, 2021 | Posted by: Cornell Tulloch

It is the perennial question for every first-time homeowner. How much house can I afford? As with so many life-changing decisions, there is no one right answer to this common query, and the size of th ...

3 Simple Ways to Repair Your Credit

August 2, 2021 | Posted by: Cornell Tulloch

For many Canadians looking to purchase a home, bad credit scores stand in the way of getting a mortgage. Most lenders prefer your score to be 650 or higher. If they do allow for lower credit scores, i ...

3 Smart Ways to Use a Home Equity Line of Credit

June 7, 2021 | Posted by: Cornell Tulloch

For homeowners across the globe, home equity lines of credit (HELOCs) have become a handy way of tapping into the value of their homes. However, when borrowing money against your home, it is always ...

How to Improve Your Chances of Being Approved for a Mortgage

May 3, 2021 | Posted by: Cornell Tulloch

For most first time home buyers, obtaining a mortgage is a crucial part of the purchasing process. However, being approved for a mortgage is often easier said than done. It can be disheartening to f ...

The Pros And Cons Of Reverse Mortgages - A Quick Guide

April 19, 2021 | Posted by: Cornell Tulloch

No matter how carefully you plan, life can put a dent in your retirement funds. A life-altering accident or illness can turn your life upside down. Dipping into your retirement to meet uncovered expen ...

Should You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else?

March 22, 2021 | Posted by: Cornell Tulloch

When getting a home mortgage, if you can afford higher payments, often the option of a 15-year loan instead of one of 30 years is an option. It can be an enticing idea to know that you'll be free of a ...

Planning to Refinance Your Mortgage in Vaughan, Ontario? Ask These 4 Questions First

January 4, 2021 | Posted by: Cornell Tulloch

Deciding to refinance is a crucial financial move that can help you make significant savings. When you plan properly, do your research, and take time to evaluate where you stand financially, you'll be ...

How to Maintain a Good Credit Rating Throughout the Year for People in Vaughan, Ontario

December 14, 2020 | Posted by: Cornell Tulloch

If you want to make it easier to get an auto loan, mortgage, or new credit card account, you need to maintain a good credit score. It's easy to do so, particularly if you follow the tips presented her ...

Four Strategies That Can Help You Get Approved for a Mortgage in Southern Ontario

December 7, 2020 | Posted by: Cornell Tulloch

So, you've decided to take the big step and look into getting what will likely be the biggest loan of your entire life: a mortgage. Applying for a mortgage in Southern Ontario can be a bit o ...

Looking to Invest in Vaughan, ON? Pay Down Your Mortgage Instead

November 30, 2020 | Posted by: Cornell Tulloch

With all the gloomy news about pension plans in the press you may be worrying whether you should actually be investing in a pension plan or not. A new wave of thinking suggests possibly not. There may ...

Credit Card Debt vs Mortgage Debt for people in Vaughan, ON: Which Should You Pay Off?

October 26, 2020 | Posted by: Cornell Tulloch

It's always a good idea to pay down your debt when you have extra cash on hand. However, as you get started, you will probably be faced with several types of debt you can work on, and it's hard to kno ...

Five Reasons Why You Should Have More Than One Bank Account

October 19, 2020 | Posted by: Cornell Tulloch

In today's tech world, being victimized by hackers can leave you penniless if you have only one bank account. The following five situations demonstrate how a having a backup account can keep you ...

4 Reasons to Say 'Yes' to Good Credit in Vaughan, ON

September 28, 2020 | Posted by: Cornell Tulloch

Good credit is a necessity for acquiring many things in life. There are many important reasons for saying 'yes' to credit. Below are some of those reasons, as well as ways to get and build your credit ...

Strategies for people in Vaughan and the Golden Horseshoe to Dig Yourself Out of the Debt Hole

September 14, 2020 | Posted by: Cornell Tulloch

Debt. It's something almost everyone will have at some point in their life. But what happens when your debt begins to get the better of you? What options are available? Some simple strategies can he ...

Why You Need an Emergency Fund And How to Get One

September 7, 2020 | Posted by: Cornell Tulloch

Building an emergency fund is something most people know they should do but few actually get around to doing. A recent study found that nearly two-thirds of Americans did not have an emergency fund, a ...

The Benefits of Investing in Income Producing Properties

August 31, 2020 | Posted by: Cornell Tulloch

Making money in any real estate venture is a difficult task, and many people don't have the skills (or the stomach) for flipping houses. An alternative to this intrinsically risky activity is to purch ...

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