The Tribe Blog
Financial Relief Measures in the Wake of COVID-19
Over the past few weeks, the world as we know it has been changing at a rapid pace. Phrases like ‘self-isolation’, ‘social distancing’ and ‘flattening the curve’ have become a part of our daily lingo. We’re being asked to stay home, schools and attractions are closed,...
Why Your Mortgage Term Matters
Choosing the mortgage term that’s right for you can be challenging for even the savviest of homebuyers, as terms typically range from six months up to 10 years. By understanding mortgage terms, you can save the most money and choose the term that’s best suited...
If Your Mortgage Rate is 3% or Higher, Consider a Review
Concern surrounding coronavirus – COVID-19 – has led to a crash in oil prices and economic uncertainty surrounding capital markets, which has resulted in most Canadian banks significantly reducing both fixed- and variable-rate mortgage rates. Around the world...
Tips for Buying & Selling a House at the Same Time
This is one of the most popular real estate questions: Should I sell my current home before buying a new one? And while there is no magic answer, there are many things you can do to mitigate your risks when choosing to buy and sell homes in unison. As with...
Buying a Townhouse – Is Freehold or Condo Better for You?
It’s no secret that homebuying in Canada has become increasingly challenging, particularly for first-time homebuyers. House prices have outpaced income, and those who have had their heart set on a single-family, detached home, are often discovering it isn’t...
What’s a Vendor Take-Back Mortgage?
If you’re in the market to buy a home, you know the process isn’t always easy. In recent years, mortgage insurance and qualification changes – implemented by the federal government – have made it increasingly difficult to buy a home for many Canadians, particularly...
The Benefits of Making a Conditional Offer
You’ve found the home of your dreams and you’re ready to present your offer to the seller. You know the dollar amount you want to include and you’re hoThe Benefits of Making a Conditional Offerping it gets accepted but, before you start embracing your new community...
Divorce and Your Mortgage – What You Need to Know
No one enters into a marriage thinking that one day the relationship may end. Unfortunately, the startling statistic is that 38% of all marriages in Canada end in divorce. Getting married and buying a home are two of life’s most significant milestones, so the...
The Benefits of Making a Conditional Offer
You’ve found the home of your dreams and you’re ready to present your offer to the seller. You know the dollar amount you want to include and you’re hoThe Benefits of Making a Conditional Offerping it gets accepted but, before you start embracing your new community...
Divorce and Your Mortgage – What You Need to Know
No one enters into a marriage thinking that one day the relationship may end. Unfortunately, the startling statistic is that 38% of all marriages in Canada end in divorce. Getting married and buying a home are two of life’s most significant milestones, so the...
What the Mortgage Stress Test Review Could Mean for You
In 2017, the federal government announced a set of strict mortgage qualification rules including the much-talked about, and often-debated, stress test. Implemented for federally regulated lenders, the stress test was created to help alleviate overheating housing...
Have You Considered a Home Equity Line of Credit?
There’s no doubt that your home is an extremely valuable investment – not only because of what it offers in terms of a place for you and your family to live, grow and prosper, but also thanks to the flexibility it provides for tapping into your ever-growing equity. ...
Tips for Avoiding Mortgage Fraud
Buying a home is one of the largest financial investments of your lifetime. And while owning real estate brings with it a sense of stability, achievement and a dream come true, it’s not without a certain element of risk. Mortgage fraud is a growing problem in...
Beware of These Common Mortgage Mistakes
Being prepared is a key stress reliever for many different scenarios. And securing a mortgage on a new or existing home is no different. Things can run a whole lot smoother when you know what issues to avoid. There are many common mortgage mistakes you can...
What Type of Home Should You Buy?
The decision to become a homeowner represents a significant milestone. It’s, therefore, extremely important to consider all your options when it comes to the different types of available homes to ensure you find the right one that fulfills as many of your personal and...
What are the Differences Between Independent Mortgage Agents & Bank Mortgage Specialists?
The banks work really hard at trying to convince mortgage borrowers that their mobile mortgage specialists can provide the same products and services offered by licensed mortgage agents. Truthfully, the two offerings are worlds apart. The number one difference...
Bank of Canada Rate Announcement Dec 4th, 2019
Bank of Canada maintains overnight rate target at 1 ¾ percent 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. The Bank’s October projection for global...
How Important is Mortgage Portability?
The most popular mortgage selected by Canadians is the five-year fixed-rate option. While this isn’t always the best choice, it’s definitely the most common. But a lot can happen in five years. What if you need to buy a bigger home to accommodate your growing family...
What is Title Insurance & Why Do I Need It?
In real estate lingo, ‘title’ refers to the rightful ownership of a property, such as a home. And while owning a home is generally viewed as a sound investment, it doesn’t come without inherent risks. Much like you opt for medical insurance for yourself or...
Buying in Winter has its Benefits
If you ask most people, the best time to buy a house is in spring. Traditionally, house hunters like to head out when the sun is shining, temperatures are warm and the flowers are blooming. And while all of that may sound lovely, there are many perks associated with...
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