The federal government has just unveiled a new mortgage refinancing program to help homeowners build additional living spaces, such as basement apartments or converted garages.
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or many Canadians, saving up for a down payment can be the biggest obstacle to homeownership. With property prices on the rise, the traditional 5% or more down payment can feel like a distant goal, especially for first-time buyers. Fortunately, there are flexible options available, one of which is the Flex Down Mortgage often referred to as a “No Down Payment Mortgage”.
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We have received more guidance around the qualifying rules for the new changes effective December 15, 2024. We have summarized the changes and criteria below:
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On Monday September 16, 2024 the Government of Canada announced two major changes to 30-Year amortization and insured mortgage purchase price limit
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Deciding whether to buy a new home before selling your current one can feel a bit overwhelming. The right approach depends on many factors, but it's not so daunting if you examine the current market. Instead of focusing on whether you should
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MMG Mortgages and Sterling Homes partnered to create a blog post with your top questions answered by your favourite mortgage professionals, MMG Mortgages. Check out the blog
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Starting August 1, 2024, homebuyers in Canada will have a new mortgage option available for newly built homes. This initiative, introduced by the Canadian Mortgage and Housing
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On June 5, 2024, The Bank of Canada made the decision to cut its overnight prime lending rate by 0.25% to 4.75%. If the banks follow suit, which
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Any homeowner looking to obtain a new mortgage should be familiar with mortgage terminology and if you’re looking to purchase with less then 20% down payment, then you will want to be familiar with the term “mortgage default insurance.” If you’re not familiar, here is an outline that includes the impacts of this insurance.
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There are many times when an applicant can’t quite get the approval or property that they are gunning for. That’s when we reach that tipping point when the addition of a non-occupying applicant is required to push
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As the April tax deadline approaches, understanding the many options of tax credits can be a big deal for existing homeowners and first-time buyers.
Whether you're stepping into your first home or you're a seasoned homeowner,
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In Autumn 2023, significant residential zoning adjustments were approved in Edmonton, sparking anticipation among Calgarians for similar changes in Calgary. As expected
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