Category Archives: Hypothèque

What do we do if we just made an offer on a house, but haven’t sold our condo yet?

Monday November 20th, 2017

What do we do if we just made an offer on a house, but haven’t sold our condo yet?

Start by asking yourself this one all-important questions: could you qualify for 2 mortgage loans – your current one on your condo and a new one for the house you want to buy? In effect, even if you intend to sell your condo, all the condo-related expenses (mortgages payments, municipal and school taxes, heating, and […]
Read more

Can a bridge loan be a good solution ?

Monday November 13th, 2017

Can a bridge loan be a good solution ?

A bridging loan, better known as a “bridge loan” provides a solution for all buyers in the process of purchasing a property who have received an unconditional commitment for the purchase of their current residence but where the signing dates at the notary have not been scheduled on the right sequence. Although in the majority […]
Read more

Your credit rating: Debunking the myths

Monday November 6th, 2017

Your credit rating: Debunking the myths

Your credit rating, also known as your credit score, is a number assigned by credit bureaus based on your debt payment habits. The lower your score, the more risky it is for lenders to loan you money. The higher your score, the less risky it is. Unfortunately, there’s a lot of misinformation surrounding credit scores, […]
Read more

Refinancing your mortgage can make your dream kitchen a reality!

Tuesday October 10th, 2017

Refinancing your mortgage can make your dream kitchen a reality!

You may wonder whether there is a way to use your mortgage to finance a specific project, such as a kitchen renovation. Let’s take a look at how it is not only possible, it is actually the most cost-effective way to finance these types of costs. How does it work? First of all, you must […]
Read more

If it smells like mould, it probably is mould!

Monday September 25th, 2017

If it smells like mould, it probably is mould!

Jeremy, newly separated from Nancy, urgently needs to find a house that will meet his needs. Since he is in a rush, he makes an offer on a house and decides to accept the inspection report provided by the seller. The seller’s inspection report was drafted only a year ago, so Jeremy assumes that everything is […]
Read more

Important changes coming to mortgage financing standards

Monday September 18th, 2017

Important changes coming to mortgage financing standards

The Office of the Superintendent of Financial Institutions (OSFI) is currently studying the possibility of applying another major change that will affect anyone looking to purchase or refinance a property (1 to 4 units) and having at least 20% in down payment and/or equity for mortgage refinancing: Primary residence Secondary residence Income property (1 to […]
Read more

How to find out about your credit rating.

Monday September 11th, 2017

How to find out about your credit rating.

There are essentially two private credit rating firms that produce credit scores which the banks will consider while analyzing your mortgage application. The most well known is Equifax, the other one is Trans-Union. They gather and process the following information: The current monthly balance on your credit cards, lines of credit, car loans, furniture loans, […]
Read more

What are the potential dangers of dealing with a virtual bank?

Monday September 4th, 2017

What are the potential dangers of dealing with a virtual bank?

Virtual banks such as Tangerine (ING Direct), First National, MCAP, Home Trust,Equitable Bank are more and more present on the market and keep gaining ground every day at the expense of traditional banks. Then, what are the risks of dealing with such financial institutions?  What are your risks as a consumer? The vast majority of […]
Read more
Page 1 of 912345...Last »