Keys to Your First Home: A First-Time Homebuyer’s Handbook

Opening the Door to Your First Home: Capital Mortgages’ Expertise

Embarking on the journey of homeownership as a first-time buyer can be both exhilarating and overwhelming. At Capital Mortgages, we’re thrilled to be your guide through every step of the process. Let’s open the door to your first home together.

Demystifying Mortgages: Understanding Your Options

Understanding the world of mortgages is a crucial step for any first-time homebuyer. In this section, we’ll demystify mortgage jargon, explore the various types of mortgages available, and empower you to make informed decisions about your investment.

Exploring Mortgage Options

Not all mortgages are created equal. From fixed-rate to adjustable-rate mortgages, we’ll guide you through the options available and help you choose the one that aligns with your financial goals.

The Down Payment Dilemma

One of the initial challenges for first-time homebuyers is saving for a down payment. We’ll discuss strategies to overcome this hurdle, including government programs, grants, and the importance of budgeting for your down payment.

The Power of Pre-Approval: Securing Your Dream Home

Securing a mortgage pre-approval is a game-changer in your homebuying journey. This section will delve into the benefits of pre-approval, such as understanding your budget, gaining a competitive edge in the market, and increasing your negotiating power.

Understanding Pre-Approval

We’ll break down the pre-approval process, explaining what documents are required, how credit scores play a role, and the importance of being pre-approved before house hunting.

Using Pre-Approval to Your Advantage

With pre-approval in hand, you can confidently explore homes within your budget, knowing that financing is within reach. We’ll share tips on navigating the real estate market with the power of pre-approval.

Your first home is not just a purchase; it’s a milestone. Capital Mortgages is here to simplify the process, providing expertise, guidance, and tailored solutions for your unique journey as a first-time homebuyer. Stay tuned for more insights on turning the key to your dream home. Contact us Today!


Home Sweet (First) Home: A Guide for Newlyweds 

Unlocking Love: The Journey to Your First Home Begins 

Congratulations, newlyweds! As you embark on this thrilling journey of love, why not turn the page to homeownership? Your first home together is more than bricks and mortar; it’s a canvas for building a life filled with joy, laughter, and cherished memories. At Capital Mortgages, we understand the significance of this chapter, and we’re here to be your trusted guide. 

Customizing Your Love Nest: Capital Mortgages’ Tailored Solutions 

Your love story is unique, and so should be your first home. Capital Mortgages takes pride in offering tailored financing solutions that align perfectly with your individual needs. From customizing mortgage options to finding the right payment plan, our experts ensure that your first home is a reflection of your shared dreams. 

Navigating the Financial Maze: Budgeting Tips for Newlywed Homebuyers 

As you navigate the exciting terrain of homeownership, we understand that managing finances is a key consideration. Budgeting as a newlywed couple brings its own set of challenges and opportunities. In this section, we’ll provide practical tips on setting a realistic budget, understanding mortgage payments, and ensuring that your financial path aligns seamlessly with your homeownership goals. 

Crafting Your Budget 

Setting a budget is the foundation of a successful homeownership journey. Consider your combined income, existing expenses, and future financial goals. Capital Mortgages’ financial experts can assist in creating a budget that allows you to comfortably afford your dream home. 

Understanding Mortgage Payments 

Mortgage payments are a crucial aspect of homeownership. We’ll break down the components of mortgage payments, including principal, interest, taxes, and insurance (PITI). Understanding these elements empowers you to make informed decisions and ensures financial stability. 

Planning for Future Goals 

Beyond the excitement of your first home, it’s essential to plan for future financial goals. Whether it’s starting a family, travel aspirations, or investments, Capital Mortgages works with you to create a financial roadmap that accommodates your evolving needs. 

Your journey as newlyweds embarking on homeownership is a beautiful chapter waiting to be written. Capital Mortgages is committed to making this chapter as seamless and memorable as possible. Stay tuned for more insights on your path to homeownership, and feel free to reach out to our experts as you take the exciting steps toward owning your first home together. 



Renovating Your Home for Resale in Ottawa

Renovating Your Home for Resale in Ottawa: What Pays Off?

In the diverse and ever-evolving Ottawa housing market, making informed decisions about home renovations can significantly impact your property’s resale value. Understanding what appeals to Ottawa buyers is key to determining which renovations are worth the investment. 

Maximizing Curb Appeal for Ottawa’s Four Seasons 

In Ottawa, where each season paints the city with a different brush, maintaining an alluring curb appeal year-round can significantly increase a property’s marketability. During the lush summers, a well-manicured lawn with vibrant flower beds can create an inviting entryway. In fall, ensure that gardens are tidy and leaves are raked to present a well-maintained property. Winter demands clear pathways and driveways, showcasing how the home withstands and adapts to Ottawa’s renowned frosty climate. And in spring, a fresh mulch layer and blooming perennials signal a new beginning, which can resonate with buyers looking for a fresh start. 

Transforming Kitchens into Modern Masterpieces 

A kitchen remodel can promise one of the highest returns on investment, especially in a market like Ottawa, where family and food culture are central. Modern convenience blends with style in a space that’s both functional and inviting. Think of installing a new backsplash with contemporary materials, such as glass tiles, to catch the light and add dimension. Replacing dated countertops with quartz or granite can appeal to buyers’ desire for durability and design. Smart appliances not only offer convenience but also cater to the eco-conscious Ottawa buyer, emphasizing a modern, energy-efficient lifestyle. 

Bathroom Renovations That Make a Splash 

Ottawa’s homebuyers are looking for bathrooms that serve as personal retreats. Upgrading to a rain shower head, adding heated floors, or installing a new vanity with ample storage can turn a purely functional space into a luxurious escape. Neutral colors and high-quality materials like ceramic or stone tiles can create a spa-like atmosphere. Remember, water efficiency is also a key selling point in Ottawa, so consider eco-friendly fixtures that reduce water usage without compromising performance. 

Energy Efficiency: The Smart Home Renovation Move 

With the increasing focus on sustainability, Ottawa residents value homes that reduce carbon footprints and utility bills. Upgrading to high-efficiency HVAC systems, installing additional insulation, and sealing any drafts can make a home more attractive to energy-conscious buyers. Solar panels are becoming a sought-after feature in Ottawa’s residential market, offering long-term savings and appealing to environmentally-minded individuals. 

Creating Adaptable Living Spaces 

Versatile living spaces have become a hallmark of a well-designed home, especially as the pandemic has shifted many work routines to remote models. A spare bedroom can transform into a home office with built-in shelves and ample natural light, catering to the needs of the modern professional. Multipurpose rooms, such as finished basements or attics, provide flexible space for a home gym, a recreational area, or an additional family room, giving potential buyers the freedom to customize the space to their lifestyle. 

The Value of a Finished Basement in Ottawa’s Market 

In Ottawa, where space is at a premium, a finished basement can significantly boost a home’s value. This area can serve as an in-law suite, a rental opportunity, or simply extra living space, providing a high return on investment. Ensure the renovation includes moisture-proofing, quality insulation, and egress windows to meet local building codes and enhance the space’s comfort and safety. 

Neutral Palette and Minimalism: Renovations for the Modern Home Buyer 

Today’s buyers lean towards homes that offer a blank canvas where they can envision their own lives unfolding. Neutral paint colors, minimalistic designs, and decluttered spaces are key to appealing to a broad audience. Avoid bold and personalized design choices that might not align with the general taste. Instead, opt for timeless finishes that will be in style for years to come, ensuring your renovation remains appealing no matter when you decide to sell. 

Conclusion: Making Informed Home Renovation Choices 

Investing in the right renovations can make all the difference when reselling your home in Ottawa. Understanding local market trends and buyer preferences is crucial in deciding where to allocate your renovation budget. By focusing on key areas such as curb appeal, kitchen and bathroom updates, energy efficiency, and versatile living spaces, you can enhance your home’s value and appeal. 

First-Time Home Buyer in Canada: 5 Tips You Need to Know!

Buying a home for the first time can be an exciting and overwhelming experience. There are many factors to consider, from finding the right location and type of property to securing a mortgage and navigating the legal process. As a first-time home buyer in Canada, it’s important to be well-informed and prepared in order to make the best decisions for your financial future. Here are five tips to help you get started:

1. Determine your budget and get pre-approved for a mortgage

It’s important to have a clear idea of how much you can afford to spend before you start looking for a home. Take into account your income, debts, and any other financial obligations you may have. You may also want to consider seeking the advice of a financial planner to help you create a budget and plan for your home purchase. Once you have a good understanding of your budget, it’s a good idea to get pre-approved for a mortgage. This will give you a clear idea of the price range you can afford and will make you a more competitive buyer in the market. It will also help you avoid the disappointment of falling in love with a home that you can’t afford.

2. Research your mortgage options

There are many different mortgage products available in Canada, and it’s important to understand the pros and cons of each in order to find the one that best meets your needs as a first-time home buyer. Some options to consider include fixed-rate mortgages, variable-rate mortgages, and high-ratio mortgages. You may also want to consider working with a mortgage broker, who can help you compare rates and terms from different lenders and find the best mortgage solution for your situation.

3. Save for a downpayment

The size of the downpayment you need to make on a home in Canada will depend on the type of mortgage you choose. For a conventional mortgage (one where the downpayment is 20% or more of the purchase price), you will typically need to save at least 5-20% of the purchase price for a downpayment. For a high-ratio mortgage (one where the downpayment is less than 20% of the purchase price), you may need to save as little as 5% of the purchase price, although you will be required to purchase mortgage default insurance in this case. It’s a good idea to start saving for a downpayment as early as possible, as this will not only help you secure a mortgage, but it can also save you money in the long run by reducing the amount of interest you pay on your loan.

4. Find a good real estate agent

A good real estate agent can be a valuable resource for a first-time home buyer. They can help you navigate the complex process of buying a home, from finding properties that meet your criteria to negotiating the purchase price and closing the deal. Look for an agent who has experience working with first-time home buyers and who understands your needs and budget.

5. Understand the legal process

Buying a home in Canada involves a complex legal process, and it’s important to understand what is involved in order to protect your interests. This includes reviewing the purchase and sale agreement, hiring a lawyer to handle the closing process, and obtaining mortgage insurance if required. It’s a good idea to seek the advice of a lawyer or other legal professional to help you understand your rights and responsibilities as a home buyer.

In conclusion, buying a home for the first time can be a daunting task, but it’s also a exciting and rewarding experience. By following these five tips, you can increase your chances of success and find the home of your dreams. If you are a first-time home buyer in Canada, be sure to determine your budget, research your mortgage options, save for a downpayment

If you are a first-time home buyer in Canada and are looking for guidance and support throughout the process, contact Capital Mortgages today! Our team of experienced mortgage brokers can help you navigate the complex world of home financing and find the best mortgage solution to meet your needs. We can help you compare rates and terms from different lenders, understand your budget, and find the right mortgage product for your situation. Don’t miss out on the opportunity to make your dream of homeownership a reality. Contact Capital Mortgages today and let us help you get started on the path to home ownership.

We here at Capital Mortgages in Ottawa look forward to assisting you with all your Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

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New to Canada mortgage

Making the Most of Your New to Canada Mortgage: 7 Tips for Success

Moving to a new country is an exciting experience, but it can also present a number of financial challenges. One of the most daunting tasks for newcomers to Canada is obtaining a mortgage. It can be difficult to navigate the system and understand the different mortgage options available to you. Fortunately, there are a few tips and tricks you can use to make the most of your new to Canada mortgage and ensure a successful transition into your new home. In this article, we will provide seven essential tips to help you get the most out of your new to Canada mortgage. From understanding the various mortgage options to choosing the best lender for your needs, these tips will help you secure a mortgage that works best for you and your family.

Understand the Different Mortgage Options Available to You

When comparing different mortgage options, you will quickly discover that there are a variety of different types available. Understanding what each type offers will help you to select the option that is the best fit for you and your financial situation. Some of the most common types of mortgages include:

Fixed-rate mortgage – With this type of mortgage, you will receive a fixed interest rate for the term of the loan. This means that you will know exactly what your mortgage payment will be and will not experience any surprising fluctuations in interest rates. However, if interest rates decrease and you are on a fixed-rate mortgage, you will not have the option of taking advantage of lower rates.

Variable-rate mortgage – With this type of mortgage, your interest rate will be determined by the market. This means that you will have the option of taking advantage of lower interest rates if they happen to decrease. However, if rates happen to rise and you are on a variable-rate mortgage, you may find that you are paying more each month.

Learn About the Important Mortgage Terms

Another important factor to consider is the difference between the terms “loan amount” and “loan amount to be paid”. The loan amount is the total amount of money that you are borrowing, including the interest. The loan amount to be paid is the total amount that you have to repay, including the principal and the interest. The difference between these numbers will be your down payment. A good rule of thumb is that your down payment should be at least 20% of the total value of the home.

Another important term to become familiar with is amortization. Amortization is the process that allows you to repay your mortgage over a set period of time. The most common types of amortization periods include 25 years, 30 years, and 40 years. The higher the amortization period, the lower your monthly payments will be. However, it will take you a significantly longer period of time to repay the full amount of your loan.

Gather the Necessary Documentation

When applying for a mortgage, you will likely be required to provide a large amount of documentation to prove your employment history, income level, and creditworthiness. It is important to gather this documentation as soon as possible so that you can have it ready to submit with your application. Some of the most important documents that you will need include proof of employment, income tax forms, and a credit report. In order to obtain a good credit report, you may need to open a credit card in your own name even if you do not intend to use it. This may seem counterintuitive, but it will help establish a credit history. You will then be able to close the credit card after a few months in order to have your credit report closed.

Compare Different Mortgage Lenders

When comparing different mortgage lenders, you will want to select the one that is best suited to your needs. You can do this by carefully considering each lender’s rates and terms. You will also want to consider the reputation of the lender and whether or not they are a good fit for your financial situation. This will help you to select the lender that gives you the best chance of securing a mortgage with favorable terms and a low interest rate. You can also utilize online mortgage calculators to help you to compare different mortgages and get a better idea of what your monthly payments will look like.

Some online lenders are better suited to newcomers to Canada than others. Make sure to carefully select a lender that is willing to work with newcomers and does not have an overly stringent credit and income requirements. This will help to ensure that you are able to qualify for the mortgage you want and need.

Take Advantage of Government Programs

Many government agencies offer mortgage assistance programs that are designed to help first-time home buyers and people with low incomes. There are a number of different programs available, but they are often extremely competitive and have strict requirements and deadlines. Take advantage of these government programs if they are right for you. This will help to lower the amount of money you need for your down payment and make home ownership more attainable.

Utilize Mortgage Pre-Approval

If you are in a rush to secure a mortgage, you may be tempted to accept the first offer that comes your way. This can be a costly mistake, as it can be difficult to find a new mortgage if the lender you accepted an offer from ends up retracting it. To avoid this, you can utilize mortgage pre-approval. Pre-approval essentially lets the lender know that you qualify for a certain amount of money and will allow you to more easily find a lender once you find a home that you want to purchase. Select a mortgage broker to help you with your pre-approval, as they will be able to do this quickly and effectively. They will also be able to help you to navigate the mortgage process and come up with a strategy to ensure that you are able to secure the most favorable terms.

Find a Mortgage Broker Who Understands Your Needs

Finally, make sure to find a mortgage broker who is well-versed in the needs of new Canadians. This will help you to find the mortgage that works best for you and your situation. Your mortgage broker will likely have access to mortgage options that are not available to the general public. This can help you to find the best mortgage for your unique situation. A good mortgage broker will also be able to help you to navigate the often-confusing process of securing a mortgage and ensure that you are able to secure the most favorable terms available to you. This can help you to avoid unnecessary stress and anxiety and ensure that you are able to achieve your dream of homeownership quickly and efficiently.

We here at Capital Mortgages in Ottawa look forward to assisting you with all your Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

tips for getting organized

7 Tips for Getting Organized When Moving Into a New Home

You’re super excited to move into a new home, but it comes with a catch. You need to pack up your old home and move into the new one in only a few days. So much for that plan of slowly moving things over time. If you have ever moved before, you know how stressful this can be. Packing everything, cleaning, sorting and unpacking are not exactly your favorite activities. But when you add all the other responsibilities of work and life, the situation becomes even more challenging. Fortunately, there are ways to ease the stress and get organized when moving into a new home so that you can enjoy your new space from day one and feel good about it from day one as well as long after that. Here are 7 tips how:

Plan Before You Start Packing

If you have ever been in a rush to pack, you know how chaotic the process can become. You might be tempted to just pack everything, but that simply isn’t a good idea. You need to plan out your packing strategy in a way that best suits your needs and the nature of your items. Here are some tips to get you started:

– Create categories of items – Decide what items go where in your house (e.g. kitchen items, bathroom items, etc.). This will help you create categories of items that you need to pack.

– Create a packing chart – This will help you know what you need to pack and in what order. Make sure you include all the items you need such as bedding and kitchen items.

– Pack like items together – There are many ways to pack your items when you move. If you decide to pack things yourself, it is best to pack like items together so you don’t have to unpack them later.

Start With the Most Important Rooms

Moving is always a great opportunity to make some changes in your home. If you start your packing and organizing with the rooms where you spend the most time, you will get a lot accomplished. In fact, we recommend that you start with your bedroom, bathroom and kitchen. These are rooms where you will spend a lot of time and want them organized to your liking as soon as possible. These rooms also tend to have a lot of stuff that you don’t need or use. These are great rooms to clear out old items and make room for new items that you will use more often. You can also start with the rooms that have the most items that need to be packed. You can pack these items first and be done with them. These rooms can include the kids’ rooms, the garage and the living room or den.

Hire Professional Help

Moving is hard work. There is no doubt about that. If you are in a hurry and/or live in a large home, you should consider hiring professional help. This will help you get done faster and more efficiently. You will also greatly reduce your risk of injury while saving time that you can spend on other important tasks. You can hire help for packing your items, hauling them to the new home and unpacking them. Also, you can hire a cleaning service to help you clean your old home. They will do a thorough job, and you will be free to do what you need to get done. You don’t need to spend a fortune on professional help. You can often find reliable helpers and cleaning service providers at discounted rates. Also, you can use discount services like Man with a Van or Handy.

Create a Moving Checklist

This is a common tip for those who love to be organized and efficient. You can create a checklist that includes all the tasks that need to get done before you move. This will ensure that you don’t miss anything and will make your life much easier. Here are some checklist items that you might want to consider: – Cleaning – Clean your old home thoroughly before you move out to ensure it is in good shape for the next tenants. This will also help you identify what needs to go.

– Packing – Pack your items and mark them clearly so you know what goes where. This will make unpacking a breeze.

– Moving logistics – Organize the moving logistics so that you know exactly when and how everything will happen. This will help you avoid stress and last-minute issues.

– Visiting your new home – Take some time to visit your new home and get familiar with it. This will help you plan how to unpack and organize your things.

– Hiring employees – If you own a business, you need to let your employees know that you are moving. This will help you keep your employees informed and make it easier for them to get to work.

Label Everything

Labeling your boxes and items can help you get things organized. You can also use this to identify areas of the new home where you should store things. This will help you avoid clutter and keep your new home clean and organized. If you have kids, consider labeling areas where they can keep their items. This will help them keep their spaces tidy and organized. You can also consider labeling cabinets and drawers in the new home for an easy way to get organized. If you have a lot of items that need to be labeled, you can use a labeling machine to save time. You can also consider hiring a professional organizer to help you get started with the labeling process.

Set Up a Workspace and Storage Area

You should set up a workspace in your old home where you can pack, organize and clean items. This will help you get things done in a timely manner and keep your house clean and tidy while you are busy with other things. You can set up a clean and safe space in a garage or a room where you can store boxes until it is time to move them to the new home. This will keep things out of sight and make the process much easier. You can also set up a storage space in your new home where you can store items that you don’t need often but that you don’t want to get rid of. This will make it easier for you to unpack the items when you need them. You can store these items in cabinets, on shelves or in boxes.

Only Bring What You Need and Will Use

You don’t need to keep every item that you have ever owned. In fact, it is better to get rid of excess items and only bring what you need and will use. This will help you de-clutter your new home and make it easier to keep tidy and organized. Start by going through all the items that you have packed and get rid of anything that you don’t need. You can also ask yourself if you will use the items in the future. If the answer is no, you don’t need to bring those items with you. You can trash them, donate them or sell them for some extra cash. This will help you declutter your new home and make it easier to get organized.


Moving into a new home is a great time to get organized. You can start with the rooms where you spend the most time and then work your way through the rest of the house. You can create a checklist of tasks to get done, hire professional help and label everything. Take the opportunity to only bring what you need and will use with you to the new home.

We here at Capital Mortgages in Ottawa look forward to assisting you with all your Ottawa mortgage refinancing needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

The Debate: Suburbs Vs. City

The Debate: Live in the Suburbs or Live in the City?

When it comes to the suburbs vs. city debate, the two are like night and day. The suburbs are typically quiet with wide streets and plenty of green space, while the city is busy with lots of restaurants, shops, and action. Which one is better? Depending on your lifestyle and personal preferences, you might prefer one over another. Each individual has their own reasons for wanting to live in a specific area, but it’s important to consider which will suit your needs and wants long term before making a final decision on where you’ll be calling home. Read on to learn more about both options so you can determine which will suit you best as a resident.

What is the Suburbs?

The suburbs are residential areas outside the city, typically with homes on large lots of land. Typically, the price of living in the suburbs is less than living in the city, with larger homes and lots of green space. The population in the suburbs is typically more diverse than in the city, with a mixture of different cultures and lifestyles all meshing together. The city and suburbs have a lot in common, but there are also a lot of subtle differences. For example, while both areas might have a mix of residential and commercial buildings, the city tends to have much taller buildings than the suburbs. The city also tends to have far more people living in it than the suburbs do. Although suburban dwellers can certainly walk to a nearby store or coffee shop, it’s not the same as being able to walk to a subway station or bus stop.

What is the City?

The city is typically where you’ll find skyscrapers and a bustling lifestyle. If you live in the city, you’ll find yourself surrounded by a wide range of cultures, making for a unique and entertaining lifestyle. It also typically costs more to live in a city, as rent and other properties are often more expensive than in the suburbs. Living in the city offers plenty of hustle and bustle, as well as a variety of cultural and entertainment choices. If you work in the city, you’ll likely love the convenience of the quick commute, even if the city suffers from traffic. If you have kids, you may consider the city’s smaller living spaces an advantage, as they will likely have more room to play and grow. Or if you’re an introvert or like to spend time alone, though, the noise and busyness of the city might get to you.

Pros of Living in the Suburbs

– Low cost of living: The suburbs typically have cheaper rent and a lower cost of living than the city. If you’re looking to save money, you may want to consider the suburbs for their lower cost of living.

– Lots of green space: If you enjoy the outdoors and like having a garden, the suburbs may be your ideal place to live. There’s plenty of space for a backyard or patio, with plenty of parks and green spaces to enjoy in the suburbs as well.

– Quieter lifestyle: The suburbs typically have a quieter lifestyle than the city, making them a great place to rest and relax. You may not always find this type of quiet in the city, depending on where you live.

– Family-friendly lifestyle: If you have kids, you may want to consider the suburbs for their family-friendly lifestyle. There are typically larger lots in the suburbs, making room for kids to play and explore. Many suburbs also have good schools nearby for growing kids.

Pros of Living in the City

– Quick commute: If you work in the city, you’ll likely love the ease of a quick commute. You’ll also likely find public transportation more convenient in the city than the suburbs.

– More cultural and entertainment options: You’ll have plenty of options when it comes to culture and entertainment in the city. You’ll find plenty of museums and shows, as well as lots of restaurants with a variety of cuisine.

– Walkability: If you like to get outside and walk, you’ll likely love the walkability of the city. You’ll be able to walk to nearby shops, restaurants, and even work – making your daily routine much easier and less stressful.

– Smaller living spaces: If you have kids, you may consider the city’s smaller living spaces an advantage. You’ll be able to get more done and have more room for your growing family.

Cons of Living in the Suburbs

– Longer commute: If you work in the city, you may not be able to walk to work from the suburbs. Depending on your job, you may need to drive or even take public transportation. Longer commutes can be stressful and tiring. They can also be more expensive, especially if you have to drive.

– Larger lots: If you enjoy having room for outdoor activities, a larger lot in the suburbs may be ideal for you. However, if you prefer to live in an area with smaller lots, you may want to consider another area.

– Less cultural diversity: If you like to learn about other cultures and meet people from around the world, the suburbs may have less cultural diversity than the city. You may feel like you fit in less and have fewer people to engage with.

Cons of Living in the City

– Higher cost of living: The city typically has a higher cost of living than the suburbs. If you’re looking to save money, you may want to consider the suburbs for their lower cost of living.

– Busier lifestyle: If you enjoy a quieter lifestyle, the city may not be for you. You’ll likely experience more noise and busyness in the city than in the suburbs.

– Smaller living spaces: If you have kids, you may consider the city’s smaller living spaces an advantage, but you may also want to consider how to give them more room to grow and play.

– Less green space: If you like the outdoors, you may find less green space in the city. You’ll likely have smaller yards and less space for growing flowers and vegetables.


When it comes to the suburbs vs. city debate, the two are like night and day. The suburbs are typically quiet with wide streets and plenty of green space, while the city is busy with lots of restaurants, shops, and action. Which one is better? Depending on your lifestyle and personal preferences, you might prefer one over another. Each individual has their own reasons for wanting to live in a specific area, but it’s important to consider which will suit your needs and wants long term before making a final decision on where you’ll be calling home.

We here at Capital Mortgages in Ottawa look forward to assisting you with all your Ottawa mortgage refinancing needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

Down Payment

Save Money For A Down Payment On A House

3 Ways To Save Money For A Down Payment On A House

Down payments are always an important part of the home-buying process. Down payments are typically required for a home mortgage loan and serve as proof that you can afford the monthly payment. For example, if you need to come up with 20% down to buy a $200,000 home, you will need to save $40,000. This article will help you find creative ways to save money for your down payment and still live in style.

How much money do you need?

The amount you need to save for your down payment with depend on the purchase price of your home and the type of mortgage loan you require. Generally, you will need 20% for a down payment on a home.

Can you save $40,000 in one year?

Saving $40,000 for a down payment on a house in one year is not an easy feat. But that doesn’t mean it’s impossible. You just need to find creative ways to save money.

There are various options that you can take to help you save money and still live in style. For example, you could cut back on groceries by buying store brands instead of name brands or by cutting out certain items from your grocery list. If you don’t eat out much, then you could cut back on the amount of times you do and try cooking at home more frequently. If neither of those work for you, then try looking into carpooling with people who live near your work or school location who have similar schedules as your own.

Capital Mortgages in Ottawa, Ontario is your best option for your mortgage needs.

Not all methods for saving up for a down time are going to work for everyone. But it’s important to find ways that do work for your lifestyle so that you can be successful!

Saving on interest

When it comes to saving for a down pay for a house, it is important to consider the interest. If you are able to save the money and have it in the bank, you can use those funds as collateral for a home loan when you decide to buy a house. You will be able to get money at a lower interest rate if that money has been sitting in the bank since it is not considered an investment.

The power of compound interest

One of the most powerful ways to save money for your down-payment is through the power of compound interest. The concept is simple; you will be charged a certain annual interest rate on the amount of money you have invested. For example, if you invest $1,000 today in an account that earns 9% interest per year, it will grow to $1,909.36 at the end of one year. The key to building wealth through compound interest is consistent ongoing contributions over many years.

Saving and spending habits

One of the biggest factors when it comes to saving money for a down payment is your spending habits. If you are spending too much money on entertainment, and eating out all the time, then you won’t be able to save for a down payment. You need to cut back on your spending and start living within your means. Look at ways that you can reduce your monthly expenses so that you have more money to put towards your future home purchase.

Creating a budget

The first step to saving money for a down-payment is creating a budget. This will provide you with an overview of your income and expenses, helping you determine where you can cut back. It may not be possible to get enough money from your paycheck alone. You may need to do some research about which parts of your budget you can cut back on, but there are ways to save money in every area. For example, if you have expensive hobbies, like eating out or going on vacation, then it’s time to scale it back. If you’re unable to reduce your spending in certain areas, then it’s time to explore other options like getting a second job or selling items that are no longer needed.

Financial assistance

The first way to save money for your down payment is to go to a financial advisor. You can ask him or her what types of loans will work best with your financial status. For example, you may be eligible for a home equity line of credit or a personal line of credit. If you are not eligible, the advisor may know someone who will offer assistance.


If you’re looking for ways to save money for a down payment on a house, there are a few things you can do. First, figure out how much money you need to save. Next, see if you can raise $40,000 in one year. Then, try saving on interest. And finally, make sure to create a budget and stick to it.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs and approvals. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

How To Buy A House in Ottawa Capital Mortgages Ottawa

How To Buy A House in Ottawa

How To Buy A House in Ottawa: The Comprehensive Guide

Whether you’re starting a family, your career is taking off, or you just want to get out of the rental market, buying a house is a major step. There are many things to consider: how much can you afford? What kind of house are you looking for? How do you know if it’s the right time to buy?

Before we get into the nitty gritty, let’s answer some basic questions about buying a home in Ottawa. From understanding the mortgage process and making an offer on a house to getting pre-approved for a mortgage and everything in between, this guide is here to help!

Buying A House In Ottawa: The Basics

Before you start looking, it’s important to understand the basics.

  • Do I need a mortgage pre-approval?
  • What’s the difference between a fixed and variable mortgage?
  • What are my other housing options?

These are just some of the questions that we answer in this article. Read on for all the details!

Getting Pre-Approved For A Mortgage

If you’re a first-time home buyer, getting pre-approved for a mortgage is a good way to feel more confident about your purchase. Pre-approval means that you have gone through the process of getting approved for a mortgage from one or more lenders and have been given an estimated value of how much money you can spend on a house.

Benefits of pre-approval:

  • You are able to make an offer on a house with confidence
  • You are able to compare listings, knowing how much you can borrow
  • It may take less time to get approved as you already have most of the information they will need
  • You will know what allowance your bank has set aside for you

How do I find out if I’m pre-approved?

Your potential lender should be able to tell you whether or not you’ve been pre-approved for a mortgage as soon as you submit all of your documentation. Keep in mind that some lenders may require that your current income, assets and liabilities are still accurate at the time of application. If this is the case, make sure to update them before sending any documents in.

Home Inspection

A home inspection is a professional, independent examination of the house you’re considering buying. It will help you find any faults in the property, including hazardous materials and structural problems. You’ll also need to hire a home inspector if the seller won’t let you into the house or if you want to make sure that it’s been well maintained over the years.

What’s Next?

So, you’ve read this guide and you’re at the point where you’re ready to take your first step. If you want help with every aspect of buying a home in Ottawa, give us a call! We’ll make sure that your needs are met and get you into an Ottawa home that’s perfect for you.


Buying a house can be a daunting task and one that should not be taken lightly. After reading this article, you should have a better understanding of the process and a few of the considerations that need to be made when buying in the Ottawa region. There are many factors to consider, but armed with the right information, you will be confident in your purchase.

A comprehensive guide to buying a house in Ottawa.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs and approvals. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

Tips for Buying a Home in Ottawa with Capital Mortgages

Buying a Home in Ottawa Tips

Tips for Buying a Home in Ottawa: What to Consider and How to Prepare

Capital Mortgages in Ottawa. We understand that today’s consumer is looking for optimum mortgages with minimum inconvenience, lower borrowing costs, sustainable peace of mind, and increased personal wealth by becoming mortgage free sooner. Let us help you with buying a home in the Ottawa area.

What to Consider when Buying a Home in Ottawa

Before buying a home, do some research, make a plan, and research the area.  In order to successfully buy a home in Ottawa, first consider what kind of home you want to buy. Different home types exist, from townhouses to detached homes, to condo apartments.

Investigate what all of these home types have in common, and the things you want to take into consideration when purchasing any of these home types. For example, many homes in Ottawa are attached to garages, and the location of the garage is not always the highest consideration in the purchase of a home, but it is vital to finding a home that suits your needs.

While selecting a home, many considerations come into play: location, home size, home style, monthly payments, number of bedrooms, and number of bathrooms.

How to Prepare for Buying a Home in Ottawa

You will find that buying a home in Ottawa is a complex process – like a building process, purchasing a home is a commitment. So, it’s very important to learn about the process from different perspectives and to be well-informed before making the final purchase.

Know what you are looking for, be realistic about your budget, and prepare to put together the documentation required before you commit to the purchase.  The above factors are vital to become a successful homebuyer in Ottawa and will ensure that you are giving yourself the best possible chance to purchase a property that is a good fit.

Getting the Lowdown on Ottawa. Buying a house is one of the most exhilarating feelings that you can ever have.

What to Consider when Buying a Home in Ottawa

Know the Difference Between a Buyer’s Market & a Tight Market. When purchasing a home in a strong real estate market, there is increased demand, higher prices and an increased number of buyers who can qualify. In a tight real estate market, it is very difficult to secure a mortgage and the competition is especially fierce. Sellers in a tight market will negotiate hard for a much higher selling price because there is a surplus of buyers willing to pay over asking price.

However, the opposite is true in a seller’s market. Factors to Consider when Buying a Home in Ottawa. Your income is relatively stable. If you aren’t sure if you have enough money to cover the down payment, keep an eye on your bank statements or income tax returns.


We believe Ottawa will continue to attract successful people from all over the world, including highly educated professionals and highly skilled workers. More and more people are taking advantage of our educated workforce to live here, raising their families, buying homes, and investing. Ottawa’s transit system, in combination with amenities like our green spaces, trails, bike lanes and great amenities like schools, shopping, dining and entertainment, attract people to the Ottawa area.

Our area is also one of the best places to get away in the summer. It is perfect for camping, water sports, walking and outdoor activities.  Most people’s taxes are still among the lowest in Canada.


Our mortgage experts understand that the value of a home often depends on the surrounding neighbourhood. This is one of the main reasons why the Federal Government introduced the National Housing Strategy that will support over 500,000 affordable housing units and repair and build 400,000 more over the next 10 years. At Capital Mortgages, we are ready to act now to provide mortgage financing to home buyers within our area.  Things to Consider Before Buying a Home in Ottawa.  With that being said, let’s explore some of the factors to consider before purchasing a home in Ottawa.

Proximity to schools

Since we are located right in the heart of Ottawa, we have the benefit of having many elementary schools right on our doorstep for the kindergarten to grade 12 classes. That said, there are also many private and other good quality high schools in close proximity for students that have aspirations to go to university. Some private schools are in downtown Ottawa as well.

However, there are many parents who opt to enroll their child in our extremely good local public school system and they feel confident that they will have good teachers, access to a good arts curriculum, and other benefits.  Vacation time.  We can also recommend travelling to a lot of vacation spots in the Ottawa area and other parts of Canada.

Proximity to work

When you’re not working, you’re probably travelling to and from your place of work (either by foot or public transportation), meaning you’re not paying for parking.  Finance a home in a more affordable area? Better still, is it near your place of employment, allowing you to make the most of your monthly wages?

This can save you lots of money every month, while offering additional peace of mind knowing that your payments are being made efficiently.  You may be tempted to go for a location close to Ottawa’s downtown core (such as Orléans or Kanata), but that’s not always the smartest move. Many believe the money you’ll save at the outset will allow you to make an investment into a better home for future growth. However, consider your time cost.

Style of home

Whether you buy a new build or a resale, the style of home you select to live in has a strong influence on what you are able to purchase. The age of the home itself can also be a factor in the cost of a mortgage. A number of old homes in the downtown core are becoming available to buy, and for the right buyer the homes may well be relatively inexpensive.  Budget for a house you can live in.  You should budget for a house that you can easily fit your family in, but not so large that the mortgage is unaffordable.  Cash Flow.  Prepare your financial affairs to accommodate your needs for an affordable mortgage. For example, if you already have a rental property, perhaps you have another source of income.

How to Prepare for Buying a Home in Ottawa.

Choose a Mortgage Advisor.

Get your Credit Score

Obtain your Financial Records

Meet with a Mortgage Broker here at Capital Mortgages


We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

Capital Mortgages Inc has been serving the community since 1999 with over 4 billion dollars in mortgages placed. New Home

What to Consider When Buying a New Home

Here at Capital Mortgages we can help you with all your housing needs including questions related to buying a new home. Please read the blog below to get a better understanding of items when you are ready to purchase.

The Process

Whether it’s moving houses or starting a new job, it’s always a very difficult and uncertain thing to do. Being used to a specific location and knowing where your friends and family are, are the primary reasons that you’d want to move house. You also look for nicer houses or newer options than you’ve seen before, to enjoy the most out of your next experience in life. Of course these things aren’t guaranteed to happen, but you can easily take the decision to move houses with a few guidelines and planning.
Looking for a House? Let’s look at the whole thing from the beginning:
How can you find a house to buy? It depends a lot on where you are from, where you currently live or the exact reason that you are looking for a new house.

The Paperwork

The process of purchasing a new home involves lots of documents. Most of these documents will be reviewed and handled by your lawyer. It is always good to understand that some of these documents do incur a fee. Some of the main documents are:
Purchase agreement, MLS, Insurance Ryder, Certified Cheque to cover balance of down payment, lawyer costs, disbursements and land transfer taxes if applicable.
Each province and brokerage may have additional documents.


How are the neighbours? Is the community friendly? What’s the crime rate? Is there a good playground? The neighbourhood will impact how well you can do your daily activities, your family life and your work. If you are looking for more space, if you work from home and you have other children, what about the schools and bus services?
If you’re looking for a new community with good schools, shopping facilities and a great atmosphere, read on. Quality Are you looking for a 2 storey house or a 3 storey house? Is it large or small? What is the floor plan? Does it have double doors in the living room? What about stairs in the kitchen? As well as the kitchen design, there are other design aspects to consider like how good are the cabinet finishes, the colour schemes and the staircases?

House Features

Before making a big purchase you need to have a full understanding of the features that are included. For a start make sure the home you are looking at meets the minimum energy ratings of ENERGY STAR and GCF. While it’s great to look at the lighting and shading options of the home it is vital to have the ability to control these. Energy Star houses have an outside valve fitted which can be controlled by your mobile phone. This is an important feature because it will save you money on your energy bills by reducing the use of heaters and air conditioning. Make sure the home you’re looking at is energy efficient because you will save a fortune and help protect the environment. Another thing to consider is the number of bedrooms.


When choosing to buy a home, there are lots of considerations that you need to consider. For the best housing experience for you and your family, you need to make sure you consider the following when deciding where you want to buy a new home. What is your budget? You need to think about how much you want to spend and also how much you can afford to spend when it comes to buying a home. What is your ideal home style? Are you looking for something big, small, traditional, modern or modern country? If you choose a home style you aren’t really comfortable with it will become difficult for you to make it your home. Asking the right questions will help you in your decision making process. We are here to help with the most informed information and advice on different aspects of buying a home.

Contact us today.

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