6 Key Tips for First-Time Buyers

This season I am dealing with numerous first-time homebuyers. If you’re purchasing your first home, here’s how to prepare financially: Check Your Credit Score  Ensure your credit score is in good shape. Pay off debts and fix any errors. Save for a Down Payment  Aim to save at least 20% of the home’s price to…

Mastering Money with a Mortgage

Mastering Money Management with a Mortgage! Buying a home is a huge milestone, but managing your money with a mortgage can feel challenging. Here are some tips to help you stay on top of your finances: Create a Budget  List out all your monthly income and expenses. Include your mortgage payment, utilities, insurance, groceries, and…

The Benefits of Pre-Payment Privileges

There are many benefits of prepayment privileges! ✨ Making prepayments on your mortgage can result in significant interest savings. Every additional dollar you put towards your mortgage is one less dollar that will accrue interest over time. These savings can accumulate to a substantial amount over time. If you make consistent prepayments, you can pay…

What does it mean to renew your mortgage?

In Canada, the majority of people who buy property do so by taking out a mortgage, which is typically repaid over a specific period of time through a process called amortization. However, most mortgage contracts only last for a period of one to five years. Once the contract comes to an end, the homeowner is…

What do higher rates mean for mortgage affordability?

It’s important to note that although rates may be higher now than before, we are starting to see them decrease. Additionally, property values have stabilized. If your rate is lower and is maturing in the next year or two, you may want to consider blending the interest rate to capitalize on the lower rate you…

How Does Inflation Affect Your Mortgage

Inflation is a natural part of a healthy economy, but if it rises too quickly, it can become problematic. When inflation increases rapidly, everyone tries to raise their prices to keep up, which can cause the value of the currency to plummet. This can lead to a recession and, in some extreme cases, currencies have…

Managing Your Holiday Debt

According to a recent survey, 63% of people said they incurred holiday debt unexpectedly. Many people take 6 months or more to pay off their holiday debt and some never ever pay it off. That’s why planning and budgeting are crucial during the holiday season. As we all know, the holiday season can be a…

Get a head start on your finances for 2024

Managing your finances does not need to be complicated! It just needs to be simple, consistent and effective. 1- If you’re finding that everything is expensive and you’re having a hard time prioritizing your spending every month, create a budget and a plan. 2- With current interest rates, paying down your debt needs to be a…

Overwhelmed by debt? I can help.

Did you know that the average Canadian has a mortgage debt of over $350,000? On top of that, many have other debts such as auto loans and lines of credit, which can add up to over $30,000 and $35,000 respectively. If you’re struggling to keep up with multiple payments and high-interest rates, debt consolidation might…