b' In recent years, the landscape of work has undergone a significant transformation, with a paradigm shift towards flexible and hybrid work models. One of the prominent players in this evolution is the rise of managed workspaces, commonly known as coworking office spaces. This trend is not only prevalent in Canada but is also making waves on the international stage. As companies increasingly embrace hybrid workforces and seek to optimize their office space requirements, managed workspaces have emerged as a cost-effective solution that not only saves money but also enhances the work-life balan ..read more

Growing up, most of us were told that you need to pay down your mortgage debt as quickly as you can. At first glance, this makes complete sense. Why wouldn’t you want to pay down the largest debt of your life? However, with interest rates so low there might just be a better place to put those funds.  Not to mention, paying off your mortgage quicker might not exactly help you when you really need it to. This is going to mean different things to different people.  I’m not suggesting you don’t pay down your mortgage debt, I just want to lay out some different scenarios. There isn’t nece ..read more

A no-frills service or product is where non-essential features have been removed from the product or service to keep the price as low as possible.  And while keeping costs low at the expense of non-essential features might be okay when choosing something like which grocery store to shop at, which economy car to purchase, or which budget hotel to spend the night, it’s not a good idea when considering which lender to secure mortgage financing. Here’s why.  When securing mortgage financing, your goal should be to pay the least amount of money over the term. Your plan should include havi ..read more

If you’re going through or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property and buy out your ex-spouse. If you’re like most people, your property is your most significant asset and is where most of your equity is tied up. If this is the case, it’s possible to structure a new mortgage that allows you to purchase the property from your ex-spouse for up to 95% of the property’s value. Alternatively, if your ex-spouse wants to keep the property, they can buy you out using the same program. It’s called the ..read more

If you have a variable rate mortgage and recent economic news has you thinking about locking into a fixed rate, here’s what you can expect will happen. You can expect to pay a higher interest rate over the remainder of your term, while you could end up paying a significantly higher mortgage penalty should you need to break your mortgage before the end of your term. Now, each lender has a slightly different way that they handle the process of switching from a variable rate to a fixed rate. Still, it’s safe to say that regardless of which lender you’re with, you’ll end up paying more money in in ..read more

Given the current state of affairs, this is a popular question I hear. My not so simple answer is yes, no, and maybe... A lot depends on your personal situation. Are you a first time home buyer? Are you looking to move up the property ladder? Are you buying an investment property? Are you worried about your employment? Have you taken into account down payment + closing costs? As hard as it is to not factor Covid into your decision, you have to ask yourself these questions: Do you understand your personal budget? Do you understand all the moving parts to your upcoming property purchase? Are ..read more

Chances are if the title of this article piqued your interest enough to get you here, your family is probably growing. Congratulations! If you’ve thought now is the time to find a new property to accommodate your growing family, but you’re unsure how your parental leave will impact your ability to get a mortgage, you’ve come to the right place! Here’s how it works. When you work with an independent mortgage professional, it won’t be a problem to qualify your income on a mortgage application while on parental leave, as long as you have documentation proving that you have guaranteed employment w ..read more

So you’re thinking about co-signing on a mortgage? Great, let’s talk about what that looks like. Although it’s nice to be in a position to help someone qualify for a mortgage, it’s not a decision that you should make lightly. Co-signing a mortgage could have a significant impact on your financial future. Here are some things to consider. You’re fully responsible for the mortgage. Regardless if you’re the principal borrower, co-borrower, or co-signor, if your name is on the mortgage, you are 100% responsible for the debt of the mortgage. Although the term co-signor makes it sound like you’re so ..read more

Yes, that’s right. You don’t have to be a First Time Home Buyer. There is a misconception out there that you can only buy a property with a 5% down payment if you’re a First Time Home Buyer. Well, I’m here to tell you that isn’t true. You might have the funds available right now to buy that next property and you didn’t even know it. Here are the things you can accomplish with as little as a 5% down payment. ie. a 500k property would require a $25,000 down payment. You can buy a cottage. You could enjoy your own family time there and if you choose, use a service like Airbnb and ren ..read more

As the name implies, a cashback mortgage is similar to a standard mortgage, except that you receive a lump sum of cash upon closing. This lump sum will either be a fixed amount of money or a percentage of the mortgage amount, usually between 1-7%, depending on the mortgage term selected. How you use the cash is entirely up to you. Some of the most common reasons to secure a cashback mortgage are to: Cover closing costs. Buy new furniture. Renovate your property. Supplement cashflow. Consolidate higher-interest debt. Really, you can use the cash for anything you like. It’s tax-free and paid t ..read more