There have been changes to Canada’s mortgage rules that could open up great opportunities for you. Whether you’re a first-time buyer, considering refinancing, or approaching your mortgage renewal, these changes may positively impact your mortgage options. A summary of recent mortgage industry changes:As of November 21, 2024:• No stress test qualifying for mortgage switches (both […]
Mortgage changes effective December 15, 2024
Expanding eligibility for 30 year mortgage amortizations for all first-time homebuyers and all buyers of new builds Definition of a first-time homebuyer, a borrower must meet one of the following criteria: Definition of a newly constructed home Increasing the $1 million price cap for insured mortgages to $1.5 million The downpayment requirements for the loan […]
First-time homebuyers
We really appreciate how you supported us through this process. First-time homeownership is no joke! There was a steep learning curve but you helped us through it. SM & TD
My home selling journey during COVID-19
I had to put my home on the market during the first COVID-19 lockdown – almost exactly 4 years ago on April 5, 2020. I had purchased a new construction home in 2019 that was going to be ready in June 2020. Despite lockdowns, social distancing, school closures, only essential businesses being open, masking and […]