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Can my parents gift me my down-payment?
Yes, generally speaking, parents can gift you all or part of your downpayment towards your purchase. In order to satisfy lender conditions for accepting gifted…
What Does My Letter of Employment Need to Say?
In order to confirm your income and your employment, you will need to provide a letter of employment from your employer. This letter must…
What Is The Minimum Down Payment to Buy?
The minimum down payment varies depending on your purchase price and your intended use of the property.
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Blog Articles
7 Reasons Why You Might Break Your Mortgage Term
7 Reasons Why You Might Break Your Mortgage Term During the popular 5-year mortgage term, 60% of borrowers will break their mortgage. Think about that for a second. You have a 60% chance of breaking your term and triggering an early renewal penalty. (Assuming you...
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A History of Mortgage Rule Changes In Canada
A HISTORY OF MORTGAGE RULE CHANGES IN CANADA With runaway home prices in some Canadian cities, it's important to look at the mortgage rule changes over the last decade. Most Canadians opt for the 5-year term and only start doing research when their term is up for...
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6 Closing Costs You Need To Budget For
WHAT ARE CLOSING COSTS? Closing costs are an often overlooked expense in the home buying process, especially among first-time buyers. The expenses are in addition to your down-payment funds. Most lenders use a calculation of 1.5% of the purchase price in available...
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