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…

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…

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…

What is a FHSA?

Introducing the First Home Savings Account (FHSA), a registered savings plan created by the federal government in 2022. The purpose of an FHSA is to assist you in saving for your first home, completely tax-free. Who’s eligible? Are you eligible for an FHSA? Any Canadian who is 18 years or older and has never purchased…

How to Prepare for Renewal

As we head into the fall, I am working with many of my clients on their mortgage renewal. You can begin the mortgage renewal process months before your mortgage renewal date.  If you obtained a mortgage when rates were really low and you’re worried about how to prepare your budget and finances for a larger…

Fixed Vs. Variable

The variable vs. fixed mortgage rate decision is one of the biggest a borrower will make when selecting their mortgage. Many of my clients are choosing a 3 – 5 year fixed rate right now, as we suspect the rates will trend downwards after the 3-year period.  It’s a decision that will affect a homeowner for…

What if I’m getting divorced?

If you’re considering divorce or working through a divorce you are probably wondering how this affects your mortgage with your partner. In the event of a divorce, the mortgage is paid out and any supplementary funds are sent to a lawyer’s trust account until a Separation Agreement can instruct how the funds are to be…