The latest from the team at Patching Mortgage
Thinking of Consolidating Your Down Payment? Read This First
Why You Shouldn’t Move Your Down Payment Into One Account (Even If It Feels Like the Right Move) When you’re preparing to buy a home,
Ready to Make an Offer? Here’s What to Know First
After weeks (or maybe even months!) of house hunting, you’ve finally found the one—your dream home. While it’s exciting to get to this point, the
Canada’s First Home Savings Account (FHSA) Cheat Sheet
What is the FHSA? The First Home Savings Account (FHSA) is a tax-advantaged savings account designed to help first-time homebuyers save for a down payment on
Canada’s Home Buyers’ Plan (HBP) Cheat Sheet
What is the HBP? The Home Buyers’ Plan (HBP) allows first-time home buyers to withdraw up to $35,000 from their Registered Retirement Savings Plan (RRSP) tax-free to put toward the
The Benefits of Paying Your Mortgage Bi-Weekly
As a mortgage broker, I often discuss payment strategies with my clients, and one topic that frequently comes up is the option to pay mortgages
Envision Online Membership Set Up
Envision Financial Online Membership Set Up Step 1 — Go to: https://join.envisionfinancial.ca/ Step 2 — Select “Continue” and follow the prompts provided by Envision to
Are you Eligible to get 25% back of your Mortgage Insurance Premium?
Are you purchasing a new build property and getting an insured mortgage? There may be a cash-back opportunity for you! Insurers are offering a 25% refund
Distinguishing Types of Mortgages: Insured, Insurable, and Uninsured
Ever wondered why the interest rates banks advertise differ from the rates you’re offered? This stems from the three mortgage categories: Insured, Insurable, and Uninsured/Conventional,
Mortgage where you can overpay
Many lending institutions allow borrowers to make additional payments to their mortgage. These are commonly known as pre-payment privileges and allow you to pay down
Who sets mortgage rates?
In Canada, mortgage rates are influenced by various factors, and they are primarily set by individual financial institutions, such as banks and credit unions. Here
What mortgage can I afford?
Determining how much mortgage you can afford involves considering several factors, including your income, expenses, down payment, and other financial obligations. Here are some key
How do mortgage brokers get paid?
Mortgage brokers generally get paid through commissions and bonuses directly from the lenders, calculated as a percentage of the loan amount. This is how our