How badly would you be hurt in a housing market price correction? – Consult with a Vancouver Mortgage Broker

How badly would you be hurt in a housing market price correction? ROB CARRICK– The Globe and Mail A question for everyone who thinks houses are an investment: How much would a market decline hurt you? Help yourself be a smarter homeowner by using The Globe and Mail’s Housing Price Correction Calculator to find out. Housing bulls, don’t […]

5 ways to pay off your mortgage faster – Ask a Vancouver Mortgage Broker

5 ways to pay off your mortgage faster Want to get relieve yourself of mortgage stress? Check out our tips for paying off your mortgage faster and saving more money. Purchasing a home is a major accomplishment, but paying off your mortgage as early as possible will be the best investment you can make. A […]

4 easy ways to reduce your mortgage costs – Ask a Vancouver Mortgage Broker

When it comes to saving on your mortgage, making pre-payments and shopping around at renewal time are good ideas By: Madhavi Acharya-Tom Yew Personal Finance writer The Georges live in a two-bedroom condo across from High Park. In the next couple of years, they hope to buy a house west of Toronto. They plan to use the […]

34, mortgage and debt free: Here’s how

Over the past 18 months Moneyville has followed my early retirement journey which started as a dream to retire when I was 45. I’ve been working hard over the past few years to make the dream come true and I’ve managed to bring the target down to Freedom 42, just eight years from now. I’m […]

Why Your Trusted Mortgage Broker in Vancouver May Recommend a Shorter Amortization Period

Why Your Trusted Mortgage Broker in Vancouver May Recommend a Shorter Amortization Period Before new rules decreased the maximum amortization period on default insured mortgages from 30 years to 25, (and maybe surprisingly), there were still people choosing amortization periods less than the newly mandated maximum. While attitudes regarding homeownership have changed over the last […]

Practical Amortization Choices

Shorter amortizations can cost you less interest and help you pay off your mortgage sooner. If that’s a revelation to you, then here’s another story you’ll appreciate: Shorter mortgage is money in your pocket Since we’re pointing out the obvious, we should also note that making a bigger down payment and buying a cheaper house save […]

CICA Debt Poll

CICA Determined to Become Expert in Personal Finance A study was recently commissioned by the Canadian Institute of Chartered Accountants (CICA)  to learn what Canadians do on a day-to-day basis to manage their finances. The study also wanted to  understand how much confidence Canadians have in particular financial activities.  The purpose was to determine how […]

Think before gifting down payment on kids’ home

With high real estate prices and tighter mortgage lending rules, it can be tough for first-time homebuyers to get into the market. Many new homebuyers look to parents for help, and many boomers and soon-to-be retirees are quick to help out by offering the down payment. Is this a good strategy? Many years ago, when […]

Why we’ve locked in to a 10-year mortgage

Our new home in Scarborough is a detached, three-bedroom side-split that cost nearly $560,000.  We borrowed nearly $515,000 to buy it,  a sum  that makes me queasy. With the help of a mortgage broker, we chose a 30-year mortgage from ING Direct, and locked-in to a 10-year term at an interest rate of 3.99 per […]

Skipping a mortgage payment: Pros and cons

When I logged on to check my bank balance the other day, I noticed a message from the bank saying that I have ‘earned’ a one month mortgage payment vacation. The reason for this  break is that I have been paying off my mortgage faster by making increased contributions each month. My goal is to […]

Next Page »