Life happens. Sometimes unexpected expenses, job changes, or financial challenges leave you wondering if you can skip a mortgage payment. In Canada, some lenders allow this through special features, but skipping a payment comes with important consequences. Your balance grows,
Many Canadian homeowners wonder if they can access funds from their home value equity without refinancing and without the stress of breaking their mortgage. The short answer is yes, you can use equity without refinancing. Whether you’re planning renovations, covering
Can child and spousal support income really help you qualify for a mortgage in Canada? The short answer: yes, it can—but only if it’s well-documented, consistent, and legally enforceable. Many Canadians going through a divorce or separation rely on child
Mortgage Stress Test in 2025: What Changed? Back in January 2018, the Canadian government introduced the mortgage stress test to ensure borrowers could still afford their homes even if interest rates rose in the future. In 2018, the qualifying rate
Divorce is one of life’s most emotionally and financially complex events. When a mortgage is involved, the stress can intensify. For Canadian homeowners going through separation, knowing your mortgage options is essential to protecting your finances, credit, and home. Whether
While unsecured debt might sound less risky than a mortgage or car loan, the consequences of not paying can be just as serious. In Canada, if a creditor obtains a judgment against you for unpaid unsecured debt, they can register
If you own your home outright with no mortgage, you have options. That equity you’ve built isn’t just sitting there—it can be used to your advantage. Whether you need funds for renovations, debt consolidation, or unexpected expenses, lenders see a
Buying a Home in Ontario? Here’s What You Need to Know Buying a home is one of the most significant financial decisions you’ll make, especially in Ontario’s competitive housing market. Whether you’re a first-time buyer or upgrading, getting your mortgage
Understanding the Basics When it comes to mortgage payments in Canada, one factor many borrowers overlook is how often their interest is compounded. Most Canadian fixed-rate mortgages are compounded semi-annually, meaning interest is added to the loan twice per year.
Buying a home on leased land can offer affordability and location benefits, but it also comes with unique mortgage challenges. In Ontario, finding financing for leased land properties isn’t as straightforward as purchasing freehold real estate. Whether you’re buying your
What Is Hard Money Mortgage Lending? Hard money mortgage lending in Canada refers to short-term, equity-based loans used when traditional financing isn’t available. These loans are secured by real estate and rely on the value of the property rather than
Home equity is the difference between your home’s market value and the amount you owe on your mortgage. It increases as you pay down your mortgage or as your home appreciates. Canadian homeowners can tap into this equity to access