Builders report 33% drop in first-time buyers Image

Builders report 33% drop in first-time buyers

It’s now been more than a year since the stress test came into effect. The policy requires that you qualify at 2% higher than your agreed upon rate with your lender. This test applies whether you put down more or less than 20% on the home.

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5 things to consider when applying for a mortgage Image

5 things to consider when applying for a mortgage

When you buy a new home preconstruction, there can be a few years between getting pre-approved for your mortgage and your final closing (when you actually need to qualify for your mortgage).

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3 ways to improve the mortgage stress test Image

3 ways to improve the mortgage stress test

At the end of 2018, I wrote about the idea of reducing or repealing the mortgage stress test. Now I want to suggest some possible amendments that would make the stress test more fair now that interest rates are rising and home prices are still high. 

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2019 will be another challenging year for first-time buyers Image

2019 will be another challenging year for first-time buyers

You thought first-time buyers had it tough in 2018 - it’s looking like 2019 may be even harder on singles and couples looking to step onto the homeownership ladder. 

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Follow these important steps to go from renting to owning Image

Follow these important steps to go from renting to owning

Now that rent control no longer applies to newly built or converted rental units, you have even more reason to start saving up to buy your first home. 

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See what this first-time buyer has to say about applying for a mortgage Image

See what this first-time buyer has to say about applying for a mortgage

Getting pre-approved is one thing, but when it comes to applying for a mortgage, the process can be confusing and intimidating, especially if you’re a first-time buyer. There’s an extra layer to the process if you’re buying a new

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Fewer millennials are buying homes in Canada Image

Fewer millennials are buying homes in Canada

The Canada Mortgage and Housing Corporation released the results of its annual Mortgage Consumer Survey, providing insights on the behaviour, attitudes, and expectations of Canadians who are acquiring, renewing, and refinancing a mortgage.

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20 grants and loans for first-time buyers in Ontario Image

20 grants and loans for first-time buyers in Ontario

Saving a sufficient down payment is tough enough on its own and when coupled with rising interest rates and tough qualification rules – which includes a mortgage stress test– affording a home becomes very difficult for some.

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What to expect when your occupancy is approaching Image

What to expect when your occupancy is approaching

If you’re a first-time buyer and your occupancy is quickly approaching, a whole series of things you’ve never had to deal with before are about to happen. There may be some stuff you don’t understand, and some of it can actually get confusing.

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First-time buyers find their new home at Fresh Towns in Ottawa Image

First-time buyers find their new home at Fresh Towns in Ottawa

We recently caught wind of a story about two happy purchasers who just found their new home at Fresh Towns in Ottawa by Greatwise Developments!

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