Mortgages Explained - Latest Posts
Alex Lavender helps Nova Scotians get the best mortgage for your dream home. Whether you need a self employed mortgage or are looking to do construction with a mortgage plus improvements program, Alex can help. Or if you’re just looking for more information on mortgages checkout these blog posts for helpful tips. Alex is one of Halifax and Dartmouth's top rated mortgage brokers. Known for his kindness and flexibility he provides you with all the info you need to get the best rates!
Featured Article
How to Get a Mortgage for Renovations as an Existing Homeowner
Renovating your home is an exciting way to increase its ...
How to Get a Mortgage Using a Gifted Down Payment
For many Canadians, saving up for a down payment is one of the biggest challenges of purchasing a home. Fortunately, there’s a practical solution that can help make homeownership a reality: a gifted down payment. If you’re lucky enough to have family members who want to support your journey to buying a home, this option ...
3 Ways to Get a Mortgage with No Down Payment in Nova Scotia
In Nova Scotia, homeownership might seem out of reach if you lack immediate funds for a down payment. However, while Canada requires a minimum 5% down payment for residential properties, there are creative ways to source that amount even if you don’t have it saved. These strategies won’t eliminate the need for a down payment ...
Bank of Canada Interest Rate Announcement Dates 2025
The Bank of Canada plays a critical role in shaping the nation’s economy, with its interest rate decisions influencing everything from mortgage rates to business investments. Staying informed about the Bank’s interest rate announcement dates for 2025 is essential for individuals and businesses looking to make sound financial decisions. Below, you’ll find the official dates, ...
Pros and Cons of the New 30-Year Amortization Insured Mortgage in Canada
In recent years, skyrocketing property prices in Canada have made it increasingly challenging for young Canadians—especially Millennials and Gen Z—to enter the housing market. In response, the government has introduced a new policy allowing a 30-year amortization period on insured mortgages. This new policy does have restrictions around it, which are explained in further detail ...
Canada’s New 30-Year Amortization Option for Insured Mortgages
In a significant policy update, the Government of Canada has introduced a 30-year amortization option for insured mortgages, effective December 15, 2024. This change is designed to make homeownership more affordable for first-time homebuyers and those purchasing newly-built homes. By extending the mortgage repayment period from 25 to 30 years, this program aims to lower ...
How Job Relocation Can Affect Your Mortgage Approval
Moving to a new city for a job can be an exciting adventure, but it can also add complexity to your mortgage approval process. Understanding how job relocation affects your ability to secure a mortgage is essential for planning your move and purchase effectively. This guide will explain the impacts of job relocation on mortgage ...
Secure Mortgage Approval During a Probationary Period
Securing a mortgage while you’re on probation at a new job can add a layer of complexity to an already daunting process. Understanding how lenders view your employment status during this time can help you prepare and increase your chances of approval. This guide will explain how a probationary period affects mortgage applications and provide ...
Navigating the Mortgage Process While on Maternity Leave
Securing a mortgage can be a complex process, and adding maternity leave into the mix can make it even more challenging. However, understanding how maternity leave affects mortgage applications can help you better prepare and make informed decisions. This guide will explore the impact of maternity leave on getting a mortgage and provide tips to ...
Navigating Mortgage Portability in Canada: Pros and Cons
When it comes to mortgages, flexibility can be just as important as the interest rate or payment terms. One feature that offers flexibility for homeowners is mortgage portability. This option allows you to transfer your existing mortgage from one property to another, which can be a significant advantage if you’re considering moving before your mortgage ...
Understanding Interest Rate Differential for Home Buyers
When you secure a mortgage, you’re committing to a long-term financial agreement. Life, however, is unpredictable, and circumstances may arise that require you to break your mortgage contract before the term ends. In such cases, understanding the interest rate differential (IRD) is crucial, as it can significantly impact the cost of breaking your mortgage early. ...