Photo by Maria Ziegler on Unsplash

Should you rent or buy a house? This question is not an easy one to answer. There are several factors you need to consider before making this important decision. The major factors include one's personal finances, long-term plans, the state of the housing market, the decision-making process, and credit score.

We know a lot about two things; mortgages and being self-employed. The mortgage thing is obvious, but being self-employed? Well, not only do we help a lot of clients who are business-for-self, but all of our brokers are self-employed as well. 

Congratulations, you’ve been pre-approved for a mortgage! Now comes one of the best times of the home-buying process: shopping.

Let's face it. Moving sucks. 

Whether you’re buying your first or fifth home, or selling your current home, it's a stressful time.

Think you’re ready to buy a new home? Before you start scouring the web for your new home, the first step in your home buying process should be getting pre-approved for a mortgage. But what the heck does this mean?

THAT’S A NICE CAR! CAN YOU LIVE IN IT?

Canada is a massive country with specks of dense, populated areas. Because of this, getting around can only really be done two ways; air travel and cars. With prices of cross-country plane tickets more than a monthly mortgage payment, car travel is the number one means of transportation.

UNPAID CELL PHONE BILLS ARE COSTING YOU MORE THAN INTEREST

It’s hard to believe that smartphones have only been around just over a decade. Can you imagine life without them? How would we find the nearest Tim Horton’s or figure out if Home Depot was still open before these things came along?

As mortgage brokers, this the most common question we’re asked; what are rates are doing? That conversation can go several ways depending on how we think it affects you. But today, the rate drop is making buying a home and renewing a mortgage more affordable.

BANK OF CANADA RATE

If you had the chance to make a bigger down payment on a house, would you take it?

That is the question we are going to answer today as the First-Time Home Buyer Incentive Plan (FTHBI) started taking program applications recently.

In our previous post on the First-Time Home Buyer Incentive Plan (FTHBI), we looked at how the program could help first-time homebuyers with their monthly mortgage payments by increasing the amount for a down payment. It sounds promising but you still need to have the money available for your portion of the down payment.

DO I ACTUALLY NEED A DOWN PAYMENT?

THE MOST IMPORTANT INSURANCE YOU DIDN’T THINK OF.

The only thing between you and your perfect home is signing the paperwork. Before you do, one box on your checklist should be a conversation about title insurance. Title insurance can protect you against any disputes over who has rights to the property.
Think you’re ok with your regular property insurance? Let’s discuss how home title insurance and property insurance are different.

There is nothing more frustrating than getting your insurance renewal notice and seeing the price go up, regardless if you made a claim or not. Some factors are in your control and, unfortunately, some are not. Economical has released this great summary.

As temperatures rise across the country (summer is coming, right?), we’re dreaming of getting out of the city. A weekend away at the lake or a month-long retreat in the mountains, we all need a break from life’s hustle and bustle. Sure, staying in a hotel is nice, but sometimes you want a place you can call your home away from home.

Have you ever walked around your home saying, “I wish I had known about that before I bought my house.” But, being a first-time home buyer it’s like being on a freeway during rush hour and the signs are in a foreign language—you’re just trying to keep pace and take the correct exits.

Have you been struggling to land your dream job? Maybe it’s not your qualifications that are keeping you back but your credit. Yes, we said credit. Lenders are not the only people who can access your credit history. Employers, landlords, and even cell phone companies can review your credit history. Before sending in that next job application, stop, drop, and check the score. Your credit score that is.

Before you type into Google, “homes for sale,” you should be taking a deep look at your credit report. We get it. It’s not the glamorous side of buying a new home but knowing how the credit bureaus will rate your credit worthiness will save you time and reduce stress when you start viewing homes.

The struggle to reduce debt is very real. Many Canadians feel the pressure of the increasing costs of goods, a weak dollar, and rising interest rates and it’s not surprising that the top financial goal of 2019 is to pay down debt.

It’s a simple yet powerful four-letter word—debt. Unfortunately, many Canadians have an unhealthy relationship with debt either hiding it from their spouses or just avoiding it altogether. But, getting out of debt while living life comfortably can be surprisingly simple! We have collected our best tips to reduce your current debt.

I’m Remi Korent, and I look forward to sharing my story. I hope that you will enjoy getting to know me better. Four years ago, I started Rock Solid Mortgages with the goal of helping people navigate their path to home ownership.