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The Tribe Blog

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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How Do Mortgage Brokers & Agents Get Paid?

You’re ready to buy a home and you’ve laid out the groundwork to formulate a successful mortgage strategy. Your next step is to consult with a professional mortgage broker or agent who will guide you through the entire process of obtaining your mortgage to help...

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What Documents Do I Need to Fund My Mortgage?

Realizing your dream of homeownership is an exciting journey, but finalizing the mortgage process can be a bit cumbersome, particularly when it comes to the trail of seemingly endless documents you’re required to submit.   The extensive paperwork throughout the...

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More Single Women are Buying Homes

Housing market trends are constantly changing. Factors such as the economy, house prices, inflation and interest rates all play a role in market fluctuations. Just as important, however, is the role of the individual buyer and, today, one of the most influential and...

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What Can I Expect to Pay for Closing Costs?

There are numerous costs associated with buying a home. While the most common expenses that come to mind include down payment, moving and real estate commissions, there are also additional fees you must pay when the deal closes, known as closing costs.   The term...

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Need to Repair Your Credit? Here’s How

Establishing and maintaining a strong credit score is vital when you’re looking to buy a home or renew/refinance your current mortgage.   If you haven’t already done so, it’s important to start building your credit history, which is used by lenders to asses your...

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New to Canada and Ready to Buy a Home?

If you’re in the market to buy a home, chances are you’ve already done some preliminary research and discovered there are many different types of lender options – each offering their own unique perks.   Historically, securing a mortgage in Canada meant borrowing...

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Bank of Canada Rate Announcement May 29th, 2019

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Recent Canadian economic data are in line with the projections in the Bank’s April Monetary Policy...

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