4 Key Things to Know about a Second Mortgage A second mortgage is a mortgage that is taken out against a property that already has a home loan (mortgage) on it. Generally people take out second mortgages to satisfy short-term cash or liquidity requirements, have an investment opportunity or to pay off higher-interest debts (such […]

Financial independence is a critical skill for future success that your children will not learn anywhere else. Not only does financial literacy help your children have more success in life, but it allows them to move out sooner and it avoids delaying your retirement with additional expenses to support them. So, how do you teach […]

When it comes to furnishing a new home, building from scratch, or simply choosing to redecorate, there are many ways you can go about it. However, one of the first questions a lot of people consider is whether or not to hire an interior designer or do it themselves. As with anything, there are certain […]

For those of us with a flair for aesthetics or a penchant for history, historic homes offer a unique chance to own something special. What is a Historic Home? Typically, for a home to be considered “historic”, it needs to demonstrate rare or outstanding architecture. Typically, historic homes are at least 50 years of age, […]

Let’s talk about escrow! While this arrangement may not necessarily impact your mortgage, it can be helpful to understand should anything come up throughout your term. What is Escrow Starting with the basics, what IS escrow exactly? Escrow refers to a financial agreement where assets or finances are held by a third party on behalf […]

If you have a basement suite or rental property and you are currently looking for a tenant, there are some things to know! Whether this is your first tenant or you have other rental properties, it is a good idea to familiarize yourself with the specifics to ensure a harmonious tenancy. As always, your responsibility […]

Are you thinking about co-signing on a loan? If you’re looking to help out a family member or loved one, this is a great way to do that as a co-signer can help overcome stress testing and borrowing limits. However, it is important to be aware of the implications when co-signing on any loan. Credit […]

When it comes to your money, RRSPs are one of the best ways to save. Known as a “Registered Retirement Savings Plan”, RRSPs have tons of benefits including: reducing your taxable income, earning compound interest, savings protection and more. One major component of RRSPs are your contributions! You have a maximum contribution amount that is […]

Whether you’re jetting off to sunshine and warm sand, an international adventure, or a weekend getaway, before you go there are a few things you can do to protect your home while you’re away! Unplug all electronics and appliances: To reduce energy costs while you are traveling (and mitigate any risk of unexpected fires), it is […]

With the current interest rates and economic scenarios, many Canadians may be looking for ways to bring in some extra cash. One option for this is to put your home equity to work and consider renovating your basement into a legal income suite! You can do this by using a secured credit line (home equity […]