Foreign Buyers Prohibition

On January 1, 2023, The Prohibition on the Purchase of Residential Property by Non-Canadians Act (Act) comes into force. It prohibits the purchase of residential property in Canada by non-Canadians unless they are exempted by the Act or its regulations, or the purchase is made in certain circumstances specified in the regulations. This new legislation … Continue reading Foreign Buyers Prohibition

How To Get A Mortgage

There 4 main areas that lenders evaluate, while also considering the 5 C's of credit. These are income, down payment, active and historical credit, and the property itself. 5 Steps to Get a Mortgage Income and Employment. You monthly income is what will be paying the mortgage. There is a maximum percentage of your taxable … Continue reading How To Get A Mortgage

Top 3 Reason’s To Buy in Edmonton This Winter

The thought of putting on your parka and heading out into -25 degree weather deters even the most strong willed Edmonton and Sherwood Park home buyers. With colder weather, people naturally tend to hibernate indoors. This is a great advantage to a first time home buyer, or a buyer who can buy first and sell … Continue reading Top 3 Reason’s To Buy in Edmonton This Winter

First Time Home Buyers Incentive Program

There is a lot of interest in the New Canadian First Time Home Buyers Incentive Program. This program is shared equity program designed to make first time home buying more affordable. See our video to have a better understanding, and don't forget to visit: for more information. We serve all of Alberta, with a … Continue reading First Time Home Buyers Incentive Program

The 5 C’s of Credit

When you join into a mortgage relationship with a lender, it's important to keep in mind that it is the lender who generally takes on the majority of the risk as most people put less than 50% up to only 5% of their own money to finance the initial cost of the home. In order … Continue reading The 5 C’s of Credit

A Collateral Mortgage is not a Standard Mortgage

When you purchase a home, your name is on your land title as being the owner of the property and any other interests in the property- such as a mortgage- will also go on title. We assume that all mortgages are registered the same- however there are very big differences between a standard mortgage charge … Continue reading A Collateral Mortgage is not a Standard Mortgage

Mortgage Penalties

Often when looking at mortgage, many buyers 1st question is "what is your best rate?". While rate is certainly a consideration when choosing a mortgage product, knowing the features of the mortgage product should be top priority- because not all mortgage products or lender offerings are equal. In many cases, Canadians often end up paying … Continue reading Mortgage Penalties

Insurance Series- Default Mortgage Insurance

Default Mortgage Insurance is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. In Canada, we are fortunate that we have three organizations that offer default mortgage insurance: CMHC – Canadian Mortgage Housing Corporation, Sagen (formerly Genworth), and Canada Guaranty. Why is this important and a benefit to a borrower? … Continue reading Insurance Series- Default Mortgage Insurance