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The Tribe Blog

When Does a Private Mortgage Make Sense?

More Canadians than ever before have become familiar with private mortgage options after feeling the effects of the stringent stress test mortgage qualification rules introduced in January 2018.   While private mortgages have been around for many years, they were...

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Funding Your Renovations Using Home Equity

Are you thinking of doing some home improvements and wondering how to pay for them? As a homeowner, you’ll be glad to know that your mortgage agent can help you access funds through the equity in your home.    With house prices on the rise, more and more people...

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Do You Look Good Online? Lenders are Googling You!

We live in a very public forum these days. There truly is no such thing as enjoying a private life if you’re on social media. What you post on your social media accounts – Facebook, Instagram, Twitter, etc – can cast you in a negative light if certain details about...

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What Are My Mortgage Repayment Options?

Not only is it important to choose the right mortgage product and rate that’s catered to your unique needs, but it’s also vital to repay your mortgage in a way that will save you the most money.   The schedule you choose for your mortgage repayment can have a...

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Who Owns the Appraisal?

This is a commonly-asked question, since mortgage agents/brokers and appraisers aren’t authorized to provide a copy of the real estate appraisal report to the homebuyer/homeowner even though you’ve likely paid to have it completed.    This is mainly because the...

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Bank of Canada Rate Announcement July 10th, 2019

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent. Evidence has been accumulating that ongoing trade tensions are having a material effect on the global...

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Why Did My Neighbour Get a Better Rate?

You’re in the market for a mortgage and you want to find the best rate. Your neighbours have been bragging about their low rate and you want the same. Since everyone’s situation is different, however, and there’s no one-size-fits-all option, it’s best to avoid making...

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