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…

Do you know what an assumable mortgage is? An assumable mortgage allows you to take over or assume someone else’s mortgage and their property. It also allows someone else to take over your mortgage and your property. The terms of the original mortgage must stay the same. This is something you may consider if: You’re…

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…

Porting your mortgage entails taking your existing mortgage – along with its current rate and terms – from one property and transferring it to another. You’re only allowed to port your mortgage if you’re purchasing a new property at the same time you’re selling your old one. Unlike mortgage refinancing, porting a mortgage doesn’t require…