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The Tribe Blog

How Much Do You Need to Save for a Down Payment?

If you’re thinking of buying your very first home, one of your biggest concerns is likely centred around how much money you need to have set aside for your down payment. And this can, no doubt, seem extra nerve-wracking when you haven’t yet done the math. The minimum...

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What are Your Mortgage Renewal Options?

When you took out your current mortgage, you were required to make a number of key decisions, such as the type of rate you wanted – fixed or variable – the amortization period, whether it was open or closed as well as what term you wanted.    A mortgage term...

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Have Interest Rates Bottomed Out?

While interest rates shouldn’t be your sole focus when securing a mortgage, they do represent an important part of the financing equation.    Since the COVID-19 pandemic began, the Bank of Canada (BoC) has announced several unscheduled benchmark rate reductions....

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Are You Ready to Buy Your First Home?

Am I ready now? How will I even know when I’m ready? Buying your first home is exciting and scary all at the same time. Much like other major milestones, such as getting married and starting a family, there’s really no such thing as being completely ready. But when...

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Why’s Your Debt-to-Income Ratio Important?

A debt-to-income ratio (DTI) is a comparison of your monthly debt payments versus your monthly income. Lenders use this formula to determine how well you manage your monthly debt and your likeliness of repaying a loan. Debt obligations refer to such things as credit...

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Making the Most of Being Housebound

As the COVID-19 pandemic continues to keep us focused on physical distancing, it’s often difficult to perceive anything good from its existence. But, a few silver linings have emerged. As our world is changing, possibly forever, people are finding new and creative...

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