Whether you should pay off your house before retiring is a complicated topic; honestly, there are no right and wrong answers to this one. It all depends on how large your mortgage is, how big your monthly or bi-monthly payments are, how much you have in RRSPs and other investments, and how much income you expect to have once you hang up the gloves.
One thing is for certain. You should put everything down on paper and do some calculations, especially if you're over 50. Then, when everything is taken into consideration, talk with experts and consider what your gut is telling you. Here are some points to consider to help you make this very important decision.
For informational purposes only. Always consult with a licensed mortgage or home loan
…
Through their many loan products, lenders allow homeowners to refinance their home loans and secure better terms. Through this process, homeowners may acquire a lower interest rate, saving themselves lots of money across the life of their loan. Or they may unlock equity in their home to cover an upcoming large purchase, such as home improvements. Before taking this step, however, it is important for homeowners to learn all the key things to know about refinancing a home loan. Get started with this guide.
Homes with a septic system in Canada are actually better for the environment because there's less risk of raw sewage seeping into the environment. However, septic systems also come with specific responsibilities for the homeowners that they should know before going any further. For those considering buying a home with an older septic system, keep these tips in mind before putting in an offer.
Renting a home to a tenant is a big responsibility. If it's your first time being a landlord, you may have much to learn to succeed. You'll need to know how to make the home attractive and comfortable for your tenants. You'll also need to learn how to treat your tenants fairly and lawfully, according to the laws of your province. These tips can help you become a better landlord to your future tenants.
Obtaining a mortgage requires careful preparation and an understanding of the income verification process. Lenders carefully evaluate applicants' financial stability by examining various documents that substantiate their income.
When buying a home, people need to know about their property tax obligations at every stage of homeownership. Homebuyers can get caught off guard without this knowledge as tax payments come due. To handle all property tax payments confidently, homebuyers can fill their minds with information about paying property taxes in Canada early and often. Become an expert on property taxes in Canada and create an accurate estimate of how much it costs to own a home.
Interested in buying a home? One of the first ways prospective homebuyers get a home mortgage loan is by applying for a Canadian Conventional Mortgage. This loan makes owning property easy and accessible for almost anyone. Although numerous types of home mortgages are available, sticking with a conventional loan is ideal for you first home because it help you avoid common mortgage mistakes. Many residents meet the qualifications to get approved for a Conventional Mortgage Loan, while others may need to make a few adjustments and work on specific factors to get a lender's approval. Here's what you need to know about this classic homebuying option.
As the industry continues to grow, staying informed about your local real estate markets is more important than ever. Whether you're buying or selling a home, understanding the trends and nuances of your area can make a huge difference in achieving your real estate goals. Get the most out of your next home purchase or sale by learning how to interpret real estate trends.
Are you a millennial or Gen Z-er thinking about buying your first home? You're not alone! Many people in these age groups are starting to consider homeownership, but there are a lot of myths out there that might be holding you back from taking the plunge. In this blog post, we'll debunk some of the most common myths about home buying for millennials and Gen Z-ers. Whether you're worried about your credit score, income level, or feeling overwhelmed by the process, we've got you covered. So, let's get started and clear up some of those home-buying myths once and for all!