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20 Mar, 2022 women thinking about mortgages for contractors

Mortgages for contractors have their own set of rules. Here’s how to secure a mortgage if you are an independent contractor in BC, Canada.

Recent surveys show that self — or at least part-time — employees make up for about 15% of all Canadian income earners. They can have a wide range of backgrounds, including administrative, accounting, consulting and so on, and they work for both large and small companies.

24 Feb, 2022 first home buyers in canada

Private Mortgage Insurance (PMI) is a form of insurance that protects the lender against loss in case you default on your mortgage payments. If something were to happen and you lost your house because of illness or loss of job, a PMI won’t pay the mortgage on your behalf. Read on to learn more about getting private mortgage insurance in Canada.

Buying a house is never a 100% seamless process, regardless of where you find yourself in the world. It’s no different in Canada either. Homeownership comes with costs that are typically difficult to be paid upfront and in full by the great majority of home buyers.

2 Feb, 2022 airbnb tax in canada

Living in Canada? Making income from listing an Airbnb property? Here’s all you need to know about taxes and mortgage options for short-time rental property owners.

Recently, Airbnb made it even easier for Canadians to rent out an extra room in their home or maintain a vacation property in full-time rental mode.

However, as lucrative as short-term rental income might be, there are several income taxes and regulations to bear in mind.

2 Feb, 2022 closing a deal with a high rental portfolio mortgage lender

If you are creating a rental portfolio, you should know that, even though technically there’s no limit to how many conventional mortgages you can acquire, getting more than four is pretty much impossible. In this scenario, most buyers resort to private lenders, who offer much more flexibility around portfolio loans.

In this article, we’ll discuss the main differences between private lenders and banks in regards to owning several rental properties.

2 Dec, 2021 calculating the benefits of a mortgage investment corporation

Individual mortgages can be quite a gamble when investing in the Canadian real estate market. They require patience, tons of research and, most of the time, a leap of faith. Traditionally, this bureaucratic hassle has been passed over to specially appointed private lenders. But is there an alternative to this? Yes, there is, and it comes in the form of a Mortgage Investment Corporation (or MICs, for short).

1 Dec, 2021 couple getting a high ratio mortgage

What is a high ratio mortgage, and what do you need to know about it?

Is a high mortgage ratio worth getting into, or is it best to stick to other mortgage options? Should I have a longer or a shorter amortization period…?

While all this can sound like complicated money-talk, it’s actually quite straightforward to understand, regardless of your experience in buying homes — or applying for mortgages.

In this article, we’ll talk about high ratio mortgages and their implications, while also breaking down this seemingly inaccessible mortgage jargon.

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