In a previous blog, I covered the basics on the GDS (gross debt service) and TDS (Total debt service) ratios.  Rental income is treated differently from your regular gross income earnings. How rental income is calculated

Debt ratios are fundamental to mortgage approval. The purpose of the ratio is to assess whether you, the borrow, can service your existing debt plus the new debt that you are applying for. The typical mortgage lender expects

Sept 4, 2012. If you’re seeking a home equity line of credit (HELOC) or readvanceable mortgage equalling 66%-80% of your home’s value, it would be wise to act soon. Rumour has it that some banks may start cutting back on their HELOC lending limits this month. This move relates to

June 21, 2012 The Federal Government announced  four new clampdowns on insured mortgages (more than 80% loan to value) that will quickly come into effect on Monday, July 9th, 2012.

I thought it is worthwhile to inject clarity into this topic because now, the overwhelming amount of lenders require ‘title insurance’ (usually it is stated on the mortgage commitment ‘up to date survey, good marketable title or, in lieu, lender title insurance is acceptable ‘). If you need to take away one piece of vital […]

March 2012 Phew! The recent 2012 Canada budget annoucement did not include any changes to mortgage rules. There was speculation that they might be talk of lowering the amortization from 30 to 25 year or increasing the minimum downpayment requirements up from 5% (for owner-occupied property, rental property minimum remains at 20%). Over the last […]

Savvy real estate investors run their real estate investing like a real business, not just like a hobby. You can’t have the attitude of skimping out on advice and professional services. In addition to having the right mortgage broker on your team that can help you navigate through mortgage planning and the ongoing changes in […]

Check it out! I made into today’s article in Money Sense ‘How to Buy Income Property’. It discusses how and why I got into real estate and I provide some advice on real estate investing. This was a great opportunity, I am very happy to share my knowledge and help people on a large scale […]

Many buyers are frustrated with the home prices in the major urban areas in Canada and may feel that they are constantly chasing the market. The moment a first time home buyer has enough savings for a down payment that would give them an affordable monthly mortgage payment, the home prices have moved up and […]