Is a reverse mortgage right for you?
Drawing on the equity in your home, a reverse mortgage is like a loan to yourself—and one you won’t have to repay while you’re alive or until you move. We walk through the benefits...
“We paid off our mortgage early. What now?”
It's important to make a plan for your new, excess cash flow—bumping up retirement savings and emergency funds are two worthy options. But do set some aside as a well-deserved reward. ...
Reverse mortgage vs HELOC: Deciding the best way to access the equity in your...
If you don’t have income, or suddenly face a job loss or emergency expense, it may be difficult to get approved for a home equity line of credit, and selling may not net you...
“Is it time to buy a home, or should I continue renting?”
Look at how long you expect to live in your next residence, your ability to handle all the monthly payments associated with owning, and locations that might offer better value. ...
Your mortgage payment deferral is over. Now what?
Mortgage payment deferral, swiftly implemented in wake of the COIVID-19 pandemic, ended September 30. If you still can’t pay, here’s what to do. ...
Should you hold your mortgage inside your RRSP?
Yvonne wants to know how she can use her RRSP to reduce the mortgage on her current home, or to help with the purchase of a second property. ...
Myths and facts of reverse mortgages
Although there is growing interest in this financial product, which allows Canadians to borrow up to 55% of their home’s value, some misconceptions still persist. We’ve fact-checked the seven most common myths about reverse...
House rich: How to access the equity in your home
With property values continuing to increase in many parts of the country, many homeowners are looking for ways to tap their equity. Here’s how to decide which option fits your situation best. ...
Downsizing vs reverse mortgage: Which option is right for you?
Depending on your age, where you live currently and where you want to live in retirement, selling your home and moving into a condo may not put you as far ahead financially as you...
How do mortgage brokers get paid?
Adil is about to close on a home purchase and is surprised that his mortgage broker is asking for a cash payment for the broker fee before the funds are advanced. ...