Mortgage blog.

Articles that answer the common questions, and case studies that work the same decisions through with real numbers.

Top 10 costs to plan for when buying your first home

Down payment, welcome tax, notary, inspection, insurance premium: ten cost items in Quebec, with the known amounts.

Portable mortgage or assumption: moving without breaking your loan

Keeping your rate and terms on the new property, or handing your loan to the buyer: what each option requires, and how an insured loan is treated.

Financing a plex of 2 to 5 units: down payment and rents

A duplex is treated like a house; a triplex or fourplex needs 10%; at 5 units you leave the small-building rules. A $700,000 example.

Self-employed: the documents lenders ask for

Notice of assessment, T1 return, statement of business activities: the list, the 24-month experience rule, and the case of someone self-employed for under two years.

Newcomer to Canada: down payment and credit file

CMHC sets no minimum length of residence. Eligible statuses, the down payment, a foreign credit report and the documents to prepare.

Co-borrower or guarantor: what each one commits to

A co-borrower signs the loan and often owns part of the property; a guarantor backs someone else’s debt. Either can be pursued.

Mortgage broker or bank: who pays, who compares?

In most residential files the lender pays the broker. The real difference is how many offers you see before you choose.

Welcome tax in Quebec: what you pay by municipality

Land transfer duties are calculated in brackets of the price. The base schedule, Montreal, Quebec City, a $450,000 example and the first-time buyer credit.

Notary and closing costs: the full list when you buy

Notary, welcome tax, inspection, tax adjustments, tax on the premium: the cash costs to plan for on top of the down payment.

Minimum down payment in Quebec: 5%, 10% or 20%?

5% on the first $500,000, 10% on the next slice, 20% from $1.5M: the rule, the insurance premium and two worked examples.

The mortgage stress test: which rate qualifies you?

The lender qualifies you at a higher rate than your loan’s. The calculation, the effect on your maximum price and a $400,000 example.

30-year amortization: who qualifies and what it costs

The eligibility rules, the lower monthly payment and the extra interest over time, with a $400,000 example.

Inspection or appraisal: two reviews, two purposes

The inspection works for you. The appraisal works for the lender. Both matter, for different reasons.

HBP, FHSA, a gift, savings: where is your down payment coming from?

Every dollar of the down payment needs a source, a date, and proof. We put that together before the offer.

Set a purchase budget that leaves a reserve after closing

Start from the payment you want to make, and keep cash for costs, maintenance, and surprises.

Prequalification or approval: what is actually confirmed?

What a prequalification gives you, and what still has to be confirmed before the offer.

Financing condition: which dates should the offer protect?

How many days to give the financing condition, once you account for documents, appraisal, and the lender.

Buying with a co-borrower

Two incomes, two credit files, two different contributions. We turn that into one budget, and look at what each of you brings.

Newcomer and credit file

Your status, your job, the funds you’ve transferred, and the credit history you have here. We start from what exists.

Buying before selling

Sell first, make a conditional offer, or bridge it with temporary financing. Three paths, compared against realistic dates.

Buying with self-employed income

What you earn and what your paperwork shows aren’t always the same thing. We start from your assessments and financial statements to set a budget that holds up.

Prequalification before an offer

An old estimate isn’t worth much anymore. We redo your income, debts, and funds before you put in an offer.