by awinch | May 30, 2023 | Uncategorized
Did you know that in 2020, 17% of Canadian homeowners had a mortgage and a home equity line of credit (HELOC), up from 14% in 2019? During that period, the average credit limit for a HELOC in Canada was $152,000 with only $59,000 as the average amount used. If you...
by awinch | May 16, 2023 | Uncategorized
For a second mortgage, lenders will add the balance of both your first and second mortgage to determine your combined loan-to-value(CLTV). Historically, we have seen lenders go as high as 85% on CLTV but, given that average values have decreased across the country,...
by awinch | May 2, 2023 | Uncategorized
With interest rate volatility and the likelihood that fixed rates (although dropping from current HIGH levels) will still be higher in the fall than you might have currently, does it make sense to consider a refinance? With today’s housing prices and cost of living...
by awinch | Apr 18, 2023 | Uncategorized
When purchasing a home and moving, all while keeping the regular ship afloat, why not save some time and stress? Believe it or not, there are a handful of little things that aren’t the tips you might think of but will save you from frustration and headaches during...
by awinch | Apr 11, 2023 | Uncategorized
Did you that the median household income in Ottawa is just over $100K before tax? Wondering how much home you can buy based on your household income? Keep reading, the answers may surprise you! Minimum wage If you make minimum wage in a full-time position,...
by awinch | Mar 27, 2023 | Uncategorized
Nowadays, more Canadians than ever require a cosigner in order to secure a mortgage. Doing so gives the lender a guarantee that loan payments will be made by the primary borrower or cosigner. As a result, buyers usually have an easier time qualifying for a mortgage...
Recent Comments