Qualifying for a Mortgage: The 4 Factors Lenders Consider

March 11, 2018 Sean Cooper 0

Picture this: after months of searching, you find your dream home, so you make an offer and it’s accepted. Congrats, you can finally call yourself a homeowner! Well, not quite yet. I hate to burst your bubble, but unless you can afford to pay for the home in cash, you’ll need to take out a mortgage. If this is your […]

Here’s What You Need to Know About the New Mortgage Stress Test

January 3, 2018 Sean Cooper 0

Canada’s banking regulator OSFI (short for Office of the Superintendent of Financial Institutions) has become quite the water cooler conversation topic these days. “How ‘bout them Blue Jays?” has been replaced with “did you hear about the latest mortgage rule changes?” Although these were perhaps the most anticipated mortgage rule changes in history, there’s still some confusion about them – […]

Meet the 30 Year Old Who Burned His Mortgage In 3 Years

May 19, 2017 Jelani Smith 0

Sean Cooper is an ambitious millennial who waved goodbye to his mortgage documents in 3 years and 2 months – something that is not a common financial achievement these days. From early on, Cooper developed good financial habits, worked multiple part time jobs throughout university, and graduated university debt free – with a networth of $70,000. In 2012, Cooper purchased […]

Fixed Rate Mortgage: The $17,000 Surprise

May 11, 2016 Benjamin Sammut 0

My father always told me there are two certainties in life – death and taxes. And while I optimistically believe this, I’d like to add a third – the banks will always make their money. In this instance, I’m talking about penalties for breaking a mortgage. When it comes to mortgage planning, penalties play a huge role and you can […]