Can a crisis be the best time to buy? When current world events may lead to an economic slow down, one tool the Canadian Government has on its belt is reducing the interest rate. Making it easier for people like yourself to continue living life as normal as possible. The interest rate on things [...]
The COVID-19 situation is unprecedented, and is causing considerable financial stress, especially to those who now find themselves with reduced or no income. Here are some of the most frequently asked mortgage related questions we’ve been receiving: Do I qualify for mortgage relief? Can I defer my mortgage payments? How do I contact my lender? [...]
Since the announcement from the World Health Organization that COVID-19 is officially considered a global pandemic, the Canadian and global economy has entered some uncertain times. While the Canadian Government has been working on ensuring some type of economic stability for all Canadians in the upcoming months, the forceful shutdown of all non-essential businesses can [...]
These days contract workers, the self-employed, and freelancers make up a significant portion of the job market, and this trend continues to grow each year. As full-time permanent employment opportunities continue to dwindle, many people are finding it harder to feel like they have a secure and stable source of income. This lack of stable [...]
Studies have shown, time and again, that debt takes a serious toll on our mental and physical health. Migraines, poor sleep, and heightened anxiety have all been linked to debt stress. So it may come as no surprise that even discussing credit scores has been shown to increase symptoms of anxiety in individuals across all [...]
How’s your credit score? At The Mortgage Station, we understand that building and maintaining good credit can be difficult. We also understand that losing a job, not having any credit, becoming ill, paying for emergency expenses, and just plain bad luck can cause Canadians to have bad credit. In addition, we’ve learned that most Canadians [...]
Are you a hopeful first-time homebuyer in Canada who is unsure how you will afford a mortgage of your own? You’re not alone. We understand that considering such a large purchase is stressful and can feel very overwhelming. However, you might be comforted to know that you may be eligible to borrow up to $25,000 [...]
At The Mortgage Station, we’ve noticed a lot of buzz and interest surrounding RRSP Mortgage loans being a fantastic option for those looking to borrow money from sources other than the bank. And while RRSP Mortgages can be hugely advantageous for some people, they may not be suitable for others. What is an RRSP? An [...]
Has your bank called you to renew your mortgage? Are you wondering if it’s a good time to get out of your current mortgage term to qualify at a lower rate elsewhere? In this article, we attempt to answer many of the questions you may be contemplating around the topics of renewal, transferring, or refinancing [...]
Whether you’re the kind of person who wants to pay off their mortgage by the time they’re 50, or the kind of person who likes to move every few years, it’s important to understand the realities of what a potential move might mean for you financially. Below we explore what happens to your mortgage when [...]
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