People often contact us wondering just how they’ll be able to afford a home in today’s market. The good news? From a low down payment mortgage to using your Registered Retirement Savings Plan (RRSP) as a source of funds, buying a home has never been...
Being offered a better mortgage rate can seem very enticing at first glance. After all, who doesn’t love the idea of lower monthly payments – especially in an ongoing pandemic? However, that being said, breaking your current mortgage doesn’t come without its own set of...
For the third time since the pandemic began, the Bank of Canada has formally lowered the average mortgage stress test rate they base their calculations on to 4.79% - making it easier for potential home buyers to purchase property. Initially announced in 2017, the test was...
Choosing what kind of mortgage to get has historically been one of the trickiest decisions that an applicant can make. However, nowadays the difference between a fixed and variable mortgage is so apparent that the choice is becoming increasingly straightforward. With only 20 basis points or...
With Canadians and the Canadian economy facing an unprecedented level of uncertainty due to the ongoing COVID-19 pandemic, the Bank of Canada has reassured prospective homeowners that its interest rates will remain at a near historic low for several years to come. The Bank’s Governing Council...
Most Canadians spend over half of their monthly income on mortgage payments, which is far greater than the 30% figure that’s recommended to be financially sound. There are no two ways around it - buying a home is expensive, and saving up for a down...
What To Know About Re-Financing Your Mortgage Throughout COVID-19 The ongoing pandemic has thrown all of us for a loop, with many people either being temporarily laid off, having their salaries cut or being let go altogether. It’s a scary and unprecedented time that is leading...
As the time comes around for you to buy your first (or subsequent!) property, you’re likely looking at a few factors such as what kind of home you can afford, where you’d like to live and what the pros and cons are of the area...
Deciding on which home you’d like to buy is only the first step in the process – from there comes a LOT of paperwork and small transactions. There is quite a bit of coordination involved throughout these steps to ensure that the bigger picture comes...
As you navigate through the process of applying for a mortgage, you are going to encounter a multitude of steps, paperwork, and challenges along the way. Just when it seems like everything finally makes sense, boom – you come across a hidden charge, surprise component,...
Applying for your first mortgage can be a stressful time. You have got your sights set on your ideal first home, and the only thing that stands in the way of making it yours is the bank’s decision to approve your mortgage request. This can...
It’s a trend that’s becoming concerningly popular: Many homeowners are now opting to re-borrow all or part of what they have already paid off on their home mortgages in order to finance lifestyle purchases. While some people are extremely vigilant in managing the implications involved...
We believe that buying a home is one of life’s most memorable experiences. Everyone who works on the team at Capital Mortgages is here because we are passionate about helping people own their dream home! This week, we want to introduce you to the Partners...
When you are preparing to purchase a new home, you will be introduced to plenty of new jargon related to your mortgage. Purchase Plus Improvement is one of the important ones - because understanding this term could end up saving you lots of money in...
Mortgage brokers are independent, trained professionals licensed to represent you and provide you with honest unbiased mortgage advice. Due to their experience and connections within the mortgage industry, mortgage brokers have the knowledge required to present a proposal for financing to lenders in the best...
If you have recently bought your first home -- congratulations! It is a milestone worth celebrating and one that may have been a number of years in the making while you saved up your down payment and searched for the perfect place. Now that you...
Congratulations! You’ve decided to take the plunge into homeownership and purchase your first home. Now, you have all the excitement of house-hunting and finding your perfect home to look forward to! However, there are some bumps you may encounter along the way if you aren’t...
Your relationship with your mortgage broker does not just cover the purchasing of your first home. If you have a good relationship with your mortgage broker, it should exist for the entirety of your adult home-buying life. Purchasing a home can be an overwhelming and...
The mortgage world can be a tricky one to enter. As interest rates keep fluctuating and qualifying rules keep changing, you can be left feeling thoroughly confused and overwhelmed. Don’t worry! Our expert team of Capital Mortgages agents and brokers are here to help. Have...
There are a lots of different factors to consider when purchasing your first home, such as which neighbourhood to buy in, what type of home you can afford, and securing the right type of financing. It is easy to get swept up in the excitement...
It’s almost February, and you know what that means -- Valentine’s Day is just around the corner. Whether you like to shower your loved one with gifts or prefer a more low-key celebration, there are lots of romantic places in Ottawa to visit on this...
Buying your first home can be an overwhelming venture. If you are not financially-savvy, then terms such as ‘amortization period’ and ‘variable-rate mortgage’ may have you scratching your head in confusion. To help ease some of your worries, our expert team of brokers at Capital...
The beginning of every new year presents a blank page -- a fresh start which offers you the chance to begin the year on the best foot. If you hope to become more financially savvy in 2019, then take a look at these top financial...
It’s that time of year again! The holiday season is upon us. No doubt you have a long list of gifts to buy for all the important people in your life. If some of those people are new homeowners, they will likely be looking forward...
Every year, winter seems to last longer and longer in Ottawa, so the best thing you can do is make the most of it! There is lots of outdoor fun to be had in Ottawa during the winter months, whether you want to get active,...
Searching for a home can be an exciting but overwhelming task. To make things go as smoothly as possible when hunting for your dream home, consider getting pre-approved for a mortgage first. Mortgage pre-approval can save you time and hassle when you finally find the...
Ottawa is truly beautiful in the fall. The leaves on the trees turn from green to breathtaking shades of russet, ochre and crimson, while the crisp fall air provides a refreshing change from the humidity of summer. Fall is a time of transition, and this...
As we look forward to a wonderful Thanksgiving weekend in the beautiful city of Ottawa, we decided to put together a list of all the reasons we are thankful to be living in our Nation’s Capital. Ranked the best place to live in Canada by...
Last week a series of tornadoes touched down in the Ottawa/Gatineau region leaving destruction in their wake. Many residents suffered days without power, while others were left completely without shelter as the tornadoes caused irreparable damage to their homes. Our thoughts go out to those...
For many first-time homebuyers, purchasing a house can come with a range of complex emotions. It is not a decision to be taken lightly, least of all because it is one of the biggest financial decisions you will ever make. One of the best things...