person thinking about buying a home

Refinancing Definition: Every Refinance “Buzz Word” Explained.

So what exactly is the definition of refinancing? And what are some of the terms you should know when thinking about refinancing your home?

This post will help answer both of these questions, and ensure you stay informed when speaking to your lender about refinancing your home.

The following is a list of buzz words that may come at you during your discussions. Keep this list handy so that you can circle back to it after your call and look up what some of fine print actually means..

happy couple in new home

Home Equity Assistance: 4 Safe Ways To Use Your Home’s Equity


Nearly 7 out of 10 Canadians own their homes. By taking out a Home Equity Line of Credit (HELOC), you can improve your cash flow for a variety of situations.

However, in terms of your financial well-being, some reasons to use your home’s equity are safer than others.

Here are 4 safe ways and 2 not-so-smart reasons to use your home’s equity.

cutting credit card debt

Experts Claim Best Way to Pay Off Credit Card Debt Is …


Bill collecting courtesy calls early in the morning can be a rude awakening that ruins your day.

You might have rushed to the telephone hoping to hear from a family member, but on the other end is your credit card company reminding you of your failure to pay your bill. This negative experience can be deflating, especially when the bill collectors keep calling all day or week long.

Unfortunately, more and more Canadians are in this same predicament.

On November 26, 2014, reporter Heather Loney stated that “for every dollar that Canadians earn, we owe $1.63 to credit card companies, banks or other lenders.”

As imported product prices increase, it has become even more difficult for Canadians to make ends meet.

saving your house from drowning in debt

Debt Consolidation Mortgages: Consider These 6 Benefits


Are you struggling to repay loans that you agreed to years ago? Has a serious illness, car accident or job loss made it very difficult for you to repay your credit card, automobile, student or housing loan?

Unfortunately, life does not always turn out how we had originally planned.

Thankfully, you do have options.

Debt consolidation mortgages can be used to combine numerous debts from different sources into one simple, easy-to-manage payment.

Today you will learn about six key benefits derived from a debt consolidation mortgage.

person thinking about numbers

Loan to Value Ratio Simplified

How to Make Your Numbers Count


Springtime is a time for new life, spring cleaning, and home equity loans.

If you’re like many Canadians, you may just now be realizing that you could use some household upgrades: new deck, a fresh coat of paint, and…the list goes on.

If funds are a bit tight, you might want to consider a home equity loan as a way to renew your commitment to your home, improve value, and endear yourself to your neighbors.

In order to make the numbers work to your advantage you need to know how to calculate – and define loan to value ratio.

putting money into savings can

2 Smart Ways to Maximize Your Savings Through Home Mortgage Refinancing


Today we’re going to look at a two ways home mortgage refinancing can help build-up your financial situation, now and in the future.

More specifically how it can help:

  • reduce your monthly mortgage payment;
  • make it possible to fund a nest egg that you can tap into in the event of an emergency;
  • provide you with more funds for your retirement planning;
  • while keeping your monthly outlay of cash just about where it is now.

choosing a good idea or bad idea when refinancing

Refinancing Your Home is NOT a Smart Move In These Two Situations


We’re fully committed to ensuring that you have the best possible advice when it comes to mortgages.

Today we look at refinancing, more specifically when refinancing your home may NOT be a wise financial decision or in your best interest. Let’s take a closer look.

person thinking about refinance

Understanding The Difference Between Mortgage Refinance & Home Equity Loan


For some, there is confusion between a mortgage refinance loan and a home-equity loan.

Quite a few homeowners use the terms interchangeably and often think they are the same.

While there are some similarities, there are also some major differences.

In today’s post we take a quick look at both.

golden nest egg

How To Pay Off Your Mortgage Faster: 4 Shortcuts


Dick Van Dyke said it best – “Once you get the kids raised and the mortgage paid off and accomplish what you wanted to do in life, there’s a great feeling of: ‘Hey, I’m free as a bird.”

Generally speaking, Canadians are very good about repaying their mortgages and some are even paying them off early. But how is that possible? More importantly, how the heck can you do the same thing?

47,999 Reasons To Use Your Mortgage Prepayment Privileges

Although there are different ways to approach the subject, we have compiled a list of practical shortcuts you can use to pay off your mortgage faster – 4 to be exact:

  • Add Payment
  • Create Surplus
  • Become a Landlord
  • Australian Method

man going up steps cartoon

Remortgaging Your House Soon? 5 Smart Steps to Take Now


Modern finance has enabled Canadian homeowners to find just the right financial package for their circumstances.

The variety of loan options out there benefit most people who want to 1) purchase a home, 2) renovate and 3) increase their wealth.

If you are remortgaging (renewing) your house soon, here are 5 smart steps to take now so that you too can benefit:

  1. Review Local Market Data
  2. Consider Interest Rates
  3. Research Lenders
  4. Fix Credit Score
  5. Negotiate