How to Avoid Being House Rich and Cash Poor. The term house rich and cash poor means you means housing costs take up most of your income your house takes up 30% or more of household income leaving you with an expensive house but little money for anything else. You may already be in this [...]
If you are a first time home buyer and looking for a mortgage, you want to ensure you are being a responsible borrower. The dream of most Canadians is owning their own home, and there is a great sense of pride and reward in home ownership. There is not much pride in owning a home [...]
Should you get Pre-Approved for your Mortgage? This is an important question but more important is understanding the pre-approval process and why it is important. Pre-approval may not be necessary for some, but can be very beneficial. Here are some of the reasons it is a good idea. Helps you determine how much house you [...]
According to the Resilient Cities Research Report by Grosvenor.com, a privately owned property group, Calgary ranks 3rd for world's most resilient city. What constitutes a Resilient City is the ability to thrive as centres of human habitation, production and cultural development, despite the challenges posed by climate change, population growth and globalization, is determined by [...]
The already popular Canadian mortgage rate, the 5 year fixed rate , is about to become even more popular. Yesterday BMO lowered it 5 year low rate (closed) to 2.99%. Other banks also have lower fixed mortgage rates with the Toronto-Dominion Bank 4 year fixed-rate mortgage to 2.97% earlier this month and Scotiabank offers a [...]
