At the beginning of the year, Canada’s housing debt was recorded at its highest in over a decade, and with the average purchase price of a home in Canada increasing by more than 40%, it’s little wonder more and more Canadians are getting themselves into mortgage debt.

While seeking pre approval for a mortgage is a wise decision, there are still no hard and fast guarantees that you’ll get the mortgage you want from your chosen lender when the time comes for you to make a purchase.

While paying off a high-interest consumer loan, or financing home improvements with the money from a second mortgage, is a worthwhile and sound idea, there is a better way to use that money: make a down payment on a rental property.

It can be easy to get caught up in the excitement of buying your first property, and while the process doesn’t have to be complicated, (and often isn’t, especially if you seek help from a mortgage broker) there are mistakes that many make when they rush things, or don’t seek professional guidance.

When it comes to applying for a mortgage in Canada, it could benefit you to have someone co-sign it for you, and below we take a look at co-signing in a little more detail:

While there is some advice for buying a home that can be applied to almost everyone, for some groups of buyers, such as singles, the self-employed and parents-to-be, the challenges and obstacles they face are different, and require a unique set of mortgage tips and guidance:

The ongoing impact of COVID-19 has been felt deeply throughout the entire country, and the Canadian housing market is no exception. With conditions continuing to evolve, is now a good time to buy a new home in Canada?

Whether you’ve outgrown your current home, are fed up of the area you’re living in, or are wanting to get your foot on the property ladder for the first time; you know you need a new home, but have you thought long and hard about what you realistically want from it?

You got a great deal on your mortgage, and have enough money in the pot to turn your Canadian home into a dream living space, but you must still be realistic about what you can afford, and how far you want your renovation project to go.

As a significant financial investment, purchasing a home is difficult for many people without a mortgage, and while there are no solid guarantees that you’ll be approved for the mortgage of your choice, you can take the following steps to give yourself the best chance of making it happen: