Are You Paying Too High an Interest Rate on Your Mortgage?
Tom is one of our clients. Just over a year ago, we worked hard to find him the best mortgage conditions available for current financial situation . At that time, interest rates were much...
From Tenant to Homeowner, a Story of Resilience and Family Support
Seven years ago, Emrick and the mother of his children separated. During the breakup, an important decision was made: Emrick would become the owner of the family home. To do this, he had to seek...
What happens if you miss a mortgage payment?
Missing a mortgage payment can be a stressful experience, but it’s important to know what to expect if it happens and what options are available to prevent long-term consequences. For many...
Fixed or Variable Rate Mortgage: How to Make the Best Choice
Choosing between a fixed-rate mortgage and a variable-rate one remains a crucial decision for many homeowners in Quebec. In 2024, this choice is even more critical given the economic uncertainties...
Everything You Need to Know About Your Credit Report: The Key to Your Financial Health
Credit reports and credit scores play a crucial role in managing your personal finances. Whether you're about to apply for a loan or simply want to better manage your financial situation, it's...
Highlights, Economic and Financial Review-AMF
In the world’s major economies, restrictive monetary policies appear to be yielding results. The process of disinflation is well underway but is becoming more challenging as inflation nears...
Fixed or variable: which is best for you?
Should you stick with the stability of a fixed mortgage rate or roll the dice with a variable? It’s one of the most difficult decisions faced by new homebuyers and homeowners who are renewing...
Concerning Rise in Mortgage Defaults in Canada
Equifax has released troubling figures that underline the housing affordability and cost of living issues facing Canadians. According to the credit assessment firm, mortgage default rates have...
Making sense of a pre-qualification and a pre-authorization
Thinking of buying a property? You must first find out how much you can actually afford to pay for this important purchase. Your financial institution (or lender) must take many factors into...
The cohabitation agreement... to ensure your couple's peace of mind!
Did you know that common-law couples can agree on a cohabitation agreement? Often referred to as a "cohabitation contract", the cohabitation agreement for common-law partners defines the obligations...
Desjardins Doubles Reserves Against Loan Losses
The year 2023 has been challenging and cautious for Desjardins Group, marked by a significant doubling of its loan loss reserves. This move comes at a time when many entrepreneurs and credit card...
Surprising Uptick in Canadian Home Sales in January
The beginning of 2024 has seen a remarkable rebound in the Canadian real estate sector. According to the Canadian Real Estate Association (CREA), there has been a notable increase in home sales in...
Find out how to calculate the mortgage you can afford
To determine the maximum mortgage amount you are eligible for, it is essential to consider several factors, including your repayment capacity and the limits imposed by financial institutions and the...
How to Verify a Mortgage Broker in Québec: A Comprehensive Guide for an Informed Choice
The question "How to verify a mortgage broker?" is of paramount importance for anyone navigating Québec's real estate market. This guide aims to provide clear and precise answers, essential...
Buying a new home? You may be eligible for a GST and QST rebate!
Buying a new home can be an exciting project, but it comes with its share of government fees. Traditionally, when you buy a new home, you must pay the Goods and Services Tax (GST) and the Quebec...
Who Pays the Mortgage Broker in Quebec?
Imagine Jean and Marie, a couple from Quebec in the midst of searching for their first home. As they navigate the intricacies of the real estate market, a crucial question arises: "Who must pay the...
What is the Commission of a Mortgage Broker in Quebec City?
During a recent real estate transaction in the charming Saint-Roch neighborhood of Quebec City, a young couple was pleasantly surprised to learn that their mortgage broker's services would cost them...
CHMC: WHAT IS IT, ANYWAY?
You want to buy a house, but don’t have the required 20% down payment. This is when you are offered the CMHC loan insurance. But what is the CMHC? Why do we offer this insurance? Is...
The secrets to building a solid credit profile!
Whether you are young or have reached a certain age, having a strong credit history is essential to realizing your dream of owning a property. Your credit profile plays a crucial role when applying...
A place for your kids to live through university: Better to buy or rent?
With the high cost of rent, especially in Quebec City and Montreal, more and more parents are buying condos for their kids to live in while they’re at school. After all, they could probably...
Key factors for mortgage approval
Getting ready to start looking for a property? To do so, you will need a mortgage pre-approval. Although this is the maximum amount you could get, it does not guarantee that you will obtain a proper...
Simulation of expenses related to the purchase of a $400,000 property
For those looking to find out the costs related to buying a property, here is an example: Scenario: $400,000 home with a 5% down payment Standard rate: 95% financing: 4.00% 90%...
Mortgage refinancing: a solution for paying off your debts
With the rise in interest rates and inflation, you may be losing your ability to make your credit card payments. Credit card debt with interest rates of 20% or more can be harder to pay off. However,...
Becoming a homeowner with an income property - something to think about!
Before buying a house with rent income, you must consider several key points. The Mortgage Planners team invites you to consider both sides of the coin. Advantages An extra, steady income The...
Discover CMHC's "Homebuying Step by Step" Guide
Canada Mortgage and Housing Corporation is giving you a guide for everything you need to buy a home in Canada.This workbook provides worksheets, calculators and checklists for each step in the...
A home equity line of credit... Why not?
A home equity line of credit is very useful for real estate projects. Whether you want to renovate your home, buy a second home, or use it as a backup in case of unforeseen circumstances, your...
Debt consolidation via a mortgage
Debt consolidation consists in borrowing a single amount of money with a financial institution to pay all of your debts. This way, you end up with a single payment which greatly facilitates the...
The HBP – your ally when purchasing your first property
The down payment required to purchase your first property is often a daunting financial headache. But did you know that the Home Buyers' Plan (HBP) can be a feasible solution to obtain the required...
Buying your first home? 5 mistakes to avoid
Looking for your first home? What exciting project! At Mortgage Planners, we have your best interests at heart. Therefore, we want to warn you against the most common mistakes made by our...
Housing Market Highlights
Source: Housing and Mortgage Market Review The Bank of Canada’s soft landing is on track…for now Highlights: The inflation fight is progressing well, but the Bank...
5 tips for a greener home
5 tips for a greener home Sustainable development, energy efficiency, environmental responsibility... It’s not a fad, it’s a lifestyle. According to a 2017 study by Sagen, more...
The FHSA: a new ally for first-time homebuyers
Last year, the Canadian government announced the creation of a registered account that can help you save money, tax-free, for your first home purchase. In this article, we invite you to learn about...
Can I optimize my mortgage renewal ?
When the time comes to renew your mortgage, are you the type to accept the first offer or to look around to get the best possible product? Surprisingly, barely half of Quebecers try to get a better...
Everything about the house is perfect except for the kitchen. What are my options?
Although the kitchen, the bathrooms as well as the floors are rarely to our taste when we visit houses for sale, is this a reason to reject a house that has many other assets? The CMHC...
Can I use the increase in value of my home to maximize my RRSP?
Josianne is in her early forties and a single mother of two beautiful daughters of 9 and 12-years old. Recently, she realized that she had more than $100,000 in unused RRSP contribution room. Based...
The Bank of Canada’s policy interest rate has changed; how does this affect my variable rate mortgage?
Whenever the Bank of Canada changes its policy rate, it is important to understand that mortgage lenders do not automatically change their prime rate. In fact, a bank’s prime rate may not even...
Variable rate mortgages – a worthwhile option?
Greater risks yield greater results. The same applies when comes the time choose a mortgage. Choosing a variable rate mortgage allows you to benefit from a rate that is lower than what you would...
Christmas was magic! Now, how do I pay the debt racked up on my credit cards?
It’s February, cold and dark, and here you are, faced with a pile of debts and credit card bills that reflect your over-spending on holiday celebrations! You’ve received one or more...
Reversed mortgage: miracle product or danger?
The reversed mortgage is used primarily by retirees who own their principal residence and want to increase their retirement income, or simply cash out a portion of their property value for personal...
Underused Housing Tax: a major change for homeowners living abroad
On January 1, 2022, the federal government introduced a new tax: the UHT, or Underused Housing Tax. The UHT is calculated by multiplying the assessed value of residential real property by the 1% UHT...
Should you renegotiate your mortgage before maturity?
Marc and Isabelle have a $300,000 mortgage with the ABC Bank. They planned to pay off their house in 25 years. They took a loan at a fixed rate of 3.45% on a 5-year term. Two years before the date of...
Incentive programs and measures available for the purchase of a property
Are you considering buying a house or a condo? Are you wondering if there are incentive programs and measures available and tailored to your financial situation? The first thing to do is to reach out...
Buying a home when you’re new to Canada: It’s easier than you think!
Are you new to Canada and think that buying a home is out of reach? Think again! With good planning and sound advice from real estate and mortgage brokers, it can be done. Common myths New...
Revue économique et financière de l’Autorité des marchés financière
Faits saillants Les hausses rapides des taux directeurs par les banques centrales commencent à faire sentir leurs effets sur la croissance et l’inflation, mais elles...
After a year of global pandemic, it's time to take a look at your financial situation
At this time last year, we were quietly going about our business. Life was happening at full speed until one day the world plunged into the unknown.This global pandemic has challenged many of our...
How to purchase an income property when you renew your mortgage
For years, you have been thinking about investing in an income property. Why not take advantage of your mortgage renewal to refinance your property and to provide you with the 15% or 20% down payment...
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