The first-time homebuyer incentive program is a shared-equity mortgage with the Canadian government that helps qualified first-time buyers reduce their monthly mortgage payments to better afford a home!

Approximately 20% of Canadians are self-employed, making this an important segment in the mortgage and financing space. When it comes to self-employed individuals seeking a mortgage, there are some key things to note as this process can differ from the standard mortgage.

When it comes to homeownership, many of us dream of the day we will be mortgage-free. While most mortgages operate on a 25 to 30 year amortization schedule, there are several strategies you can consider to pay off your mortgage quicker.

Having the biggest and best home on the block sounds great – but not if it is at the expense of your life and monthly finances! Be smart about your budget and avoid buying a home at the very top of your pre-approval value, which might lead to cash flow issues and being “house poor” down the line.

Do you need help to meet your retirement income needs? With rising inflation, accessing sufficient cashflow for your desired lifestyle can be challenging. However, with over 70% of Canadians owning their homes, tapping into home equity can be the cashflow solution you need.

A reverse mortgage can provide a number of benefits for senior homeowners. These loans allow homeowners who are 55 or older to tap into the equity they have built up in their home, without having to sell their property or make monthly mortgage payments. Instead, the loan is repaid when the homeowner sells the property or passes away.

Are you ready to build your dream home? One of the most important steps in the process is securing construction financing. This type of financing is different from a traditional mortgage and can seem daunting for first-time builders. However, with the right information and guidance, construction financing can be a smooth and stress-free experience.

A second mortgage is a mortgage that is taken out against a property that already has a home loan (mortgage) on it. Generally people take out second mortgages to satisfy short-term cash or liquidity requirements, have an investment opportunity or to pay off higher-interest debts (such as credit cards and student loans) that a second mortgage might offer.

Canadian housing market update from Dominion Lending’s Chief Economist, Dr. Sherry Cooper.