Blogs

Balance Risk, Return, and Rental Properties

When we originally met Stuart and Evelyn, they were looking for help to buy their first home, which included a suite they could rent as a mortgage helper. They had managed to save quite a large down payment, and so only needed a low loan-to-value mortgage to complete their purchase. Stuart and Evelyn were happy when we secured them a 5-year variable mortgage that offered an amazing starting rate. As with all of our variable mortgage clients, we promised to stay in touch if the prime interest rate rose at a faster pace than fixed mortgage rates.

A Rent-To-Own Agreement In Trouble

Several years ago, Drew and Lori entered into a rent-to-own housing arrangement. They had been working on rebuilding their credit after a series of professional setbacks and a family medical emergency racked up their debt.

In the Housing section of Canada's federal budget released on March 19, 2019, the greatest emphasis is on the affordability of housing for first time home buyers. First, the straight-forward news: effective this year, the Home Buyers' Plan that allows Canadians to withdraw funds from their RRSP to buy a home will be increased to a limit of $35,000. If you've been diligent in using this saving product, it could work to your advantage when it's time for your down payment.

Recreational Vehicles such as Travel Trailers have come a long way from the old Tent Trailer of the 70s! These days, they are mini "homes on wheels" with many of the same comforts. And, just like a home, it's important to make sure your RV is properly insured.

Think Big This Spring!

Your Mortgage Should Be Part Of Your Overall Financial Plan

Your home is the biggest purchase you will ever make. It should also be a financial asset, with your equity growing over time as you pay off your mortgage and the property increases in value. 

However, there can be times when your home becomes a liability:

Does My Home Insurance Policy Cover Water Claims?

Water, and the damage it causes, is one of the leading causes of insurance claims in Canada.  Water has the tendency to find its way through the smallest of cracks and travel a distance through your home, appearing when and where you least expect it!  Within the insurance industry, water damage has 4 typical categories: