For the average Canadian, buying a home is impossible without the financial vehicle of a mortgage, and through the ensuing contract, they’re able to pay for a property in exchange for monthly payments, plus interest.

Do you dream of one day owning your own home, but worry that a poor credit score will make your dreams unattainable? Fortunately, even if you do have bad or bruised credit, there is a potential solution, and while there aren’t as many mortgage options out there for those with a poor credit score, there are some.

There are several ways in which homeowners can try and pay off their mortgage quicker, and some tend to be more successful than others. While a lot will depend upon your own personal and financial circumstances, here are 3 ways that might help you pay off your mortgage quicker:

For Canadian homeowners on their first mortgage, the term ‘mortgage refinancing’ might be a commonly heard one, and it refers to homeowners securing another loan to pay off their original mortgage.

While working with an experienced mortgage broker to help you find a great deal on a mortgage in Calgary is always a smart idea, there are a number of other things you can do to ensure that you get the best mortgage for your circumstances

Relationships and marriages don’t always succeed, and there may come a time in many of our lives when we are forced to separate from a partner with whom we share a property.

If you’ve got debts to pay off and are struggling to manage them, you might want to consider debt consolidation. Debt consolidation can be an effective method of making your debt repayment easier to manage, and is basically the paying off of smaller loans, with a larger one.

There are many advantages to downsizing, especially if you’re looking to save money on the costs associated with maintaining a larger property, or want to free up funds for retirement or travel.

Putting as much money as you can afford towards a down payment, is one of the most important things you can do, as this will have a direct impact on the amount you need to borrow, and what financing options you qualify for. That said, saving for a down payment isn’t always easy, and many struggle to find the right strategies to get them started.

If you’re applying for a mortgage for the first time, you’ve probably heard at least some of the myths listed below. Now, while seeking help from a mortgage broker can definitely simplify the process and make it more manageable, it’s also helpful to try and get a better understanding of mortgage procedures yourself, and by debunking 5 common untruths about them, you should feel a little more mortgage savvy: