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Thursday, March 16th, 2017

Young Canadians see buying a house or condo as a wise investment: RBC poll – Ask a Vancouver Mortgage Broker

TORONTO — More young Canadians believe owning a home is a very good investment, according to a new RBC home ownership poll. It says 86% of those aged 25-34 believe owning a house or condo is a solid investment, up from a reading of 78% last year. RBC says that attitude is also reflected in […]

If you want to have a mortgage in retirement, be prepared to make some big sacrifices – Ask a Vancouver Mortgage Broker

Maybe we shouldn’t be all that surprised that mortgages based on a 25-year payment schedule are now part of our retirement picture. Here’s why paying off your mortgage isn’t always the best idea Pay that mortgage off? Why would you bother, especially if that money could be invested elsewhere at a higher rate? Mortgage broker […]

The Risks of Using Home Equity to Buy Stocks – From Your Friendly Home Mortgage Broker

The Risks of Using Home Equity to Buy Stocks – From Your Friendly Home Mortgage Broker There are many ways to use the equity you’ve built up in your home. One approach used by some homeowners to use their available equity is to mortgage their home and use the funds to invest the money in […]

Are You Using Your Home for your Retirement Income? – Ask a Vancouver Mortgage Broker

Are You Using Your Home for your Retirement Income Many people who bought a home use to expect that they would pay off their mortgage before they retired and would apply that equity to fund their retirement. Surprisingly, for many people, especially for those who are in the 50 plus age bracket, this is not going to […]

Will you fund your retirement through home equity? – Consult with a Vancouver Mortgage Broker

Will you fund your retirement through home equity? Are you one of the many Canadians who did not make a contribution to your RRSP ahead of the March 1 deadline? Is it because you are bogged down by other debt, perhaps a hefty mortgage? While it’s become harder for first-time home buyers to get into […]

Using a HELOC as a 2nd Mortgage – Ask a Vancouver Mortgage Broker

Using a HELOC as a 2nd Mortgage What is a HELOC and how can you use it as a 2nd mortgage? What are the pros and cons of using a HELOC? This article will give a better understanding of how and whether you might want to apply for a HELOC. The term HELOC simply means […]

Reasons Why you Might Want a Second Mortgage – Ask a Vancouver Mortgage Broker

Reasons Why you Might Want a Second Mortgage WithVancouvermortgage rates so low, now might be an ideal time to take out second mortgage. When money is still cheap to borrow and you need a big chunk, you don’t have to max out those expensive credit cards, or get a more costly personal loan. If you […]

Handle lines of credit with care

Give people enough line of credit and they’ll hang themselves with debt. The bad boy of borrowing products – that’s the line of credit. Recently, the federal government asked the banks to stop blithely handing out home-equity credit lines to people. In his new book The Wealthy Barber Returns, David Chilton writes that credit lines can […]

CHILTON TAKES A SWIPE AT REVERSE MORTGAGES

The list of detractors of reverse mortgage has another name added to it: David Chilton, otherwise known as ‘the wealthy barber’, after the title of this famous book on personal finance. At a speaking engagement Thursday night in Scarborough, Ont., Chilton discussed various mistakes people make while managing their financial affairs. Taking out reverse mortgage, […]

How to give up renting without going broke

DIANNE NICE Globe and Mail Blog No matter how many stories I read about housing price bubbles and rising interest rates, there’s no way I would go back to renting, and most Canadians feel the same way. For three long, miserable years, my husband and I rented a unit attached to our landlord’s sprawling house […]

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