No matter how affordable the home, mortgage borrowers typically pay hundreds of thousands of dollars in interest. For this reason, a half-percentage-point difference in interest rate can make a big difference in the amount you pay over time.

As you get ready to purchase your new home, you naturally start looking at homes currently on the market and visiting showhome parades. You also know that your mortgage payment is probably going to be your biggest expense, so you need to find a home that’s in your price range. A mortgage affordability calculator can help you … Continued

A large amount of debt can prevent you from living the life you want. You’d like to pay off those bills, but the task can sometimes seems impossible. Surprisingly, a debt-free life is closer than you think. With our tips and a bit of focus on your part, you can get rid of your debt … Continued

Whether you’re downsizing after retirement or focused on saving your down payment for your first home, it’s important to keep adding to your emergency fund. This money might seem unnecessary but it can really help you get out of a pinch. Consider the following reasons for building up an emergency fund, then start working on it.

While most new home purchases go through without a hitch, you can get thrown for a loop if you’re not prepared for the closing costs. You know you have to save for a down payment of at least five percent to purchase, but you can’t forget to budget for all the other expenses you’ll have to pay … Continued

Whether you’re thinking about buying a new home, selling your home, or both, it’s smart to get a sense of what’s going on with the Calgary market. Trends can help you decide whether now’s the right time to make your move or whether it might be better to wait a few more months. 

You’ve probably heard that you need to have a good credit score to buy a home, but unless you’ve done some research, you might not fully understand the effects your score can have on your mortgage.  Learn more about why your credit score is important and what you can do to improve it.

Starting January 1, 2018, the Bank of Canada is making some changes to the mortgage rules for uninsured borrowers that can affect your ability to purchase a home. In short, anyone with a 20 percent or greater down payment  will now have to pass a “stress test” to ensure they can handle potential increases in mortgage rates. 

If you’re looking to buy a new home and considering using an unsecured line of credit (ULOC) for your down payment, be sure to do a little research ahead of time. While this form of loan can be extremely helpful in your purchase, there are a few things you should know.

While we all love the idea of complete financial freedom, the reality is most of us need to operate under some sort of budget to stay within our means. That being said, if you still find yourself tight at the end of the month, now might be the time to buckle down and establish a … Continued