905-791-1100 As a mortgage broker in Mississauga, Ontario, I often come across misconceptions and myths about mortgages that can mislead potential homebuyers. As someone who is passionate about helping clients navigate the mortgage process, I am dedicated to dispelling these myths and providing accurate information. In this blog post, we will debunk the top mortgage myths [...]
Great news, the new Tax-Free First Home Savings Account is expected to be available this coming April 2023! It has the benefits of an RSP with a tax deduction combined with the benefits of TFSA (since withdrawals are not taxable) all while your money grows completely tax-free. Now if you don’t buy a home within [...]
For those who are self-employed and show low personal income to save on income tax by keeping money in your corporations, it is tough to qualify for a mortgage isn’t it? Luckily, Lotus Loans & Mortgages Corp. has access to A Lenders that will take your corporation’s income into consideration which will allow you to [...]
The Bank of Canada raised rates for the 8th time since March 2022 this past Wednesday, January 26th by a ¼% which means that the Bank Prime rate is 6.7%. That is the highest level in 15 years! The BoC alludes to the fact that they will likely pause any further rate increases which I [...]
With the colder weather setting in, it's important that homeowners have done their seasonal home maintenance. Keeping your home in good running order will ensure that your heating, cooling, and plumbing systems are working as efficiently as possible. Most homeowners in Mississauga do their annual home maintenance during the spring and autumn to prepare for [...]
Looking for a Mississauga mortgage? We've got you covered with everything you need to know about the market and the latest rate trends. This past week Canada’s banking regulator called OFSI confirmed that it would leave the qualifying rate for the mortgage stress test unchanged. That means the qualifying rate remains at the higher of [...]
This past week the Bank of Canada raised prime rate for the 7th time this year. Bank prime now sits at 6.45%, up 4% from March. That is an incredible amount of quantitative tightening in a short period. Those with adjustable variable rate mortgages and lines of credit will feel the effect quickly and for those [...]
After months of most housing markets being highly competitive, the Mississauga Ontario area is starting to see a slowing down. Some of this may be due to the current global crisis happening with Ukraine and the rising cost of living. Our expert Mississauga mortgage brokers team has the latest figures for you. Housing Market Update [...]
A lot of planning goes into buying a home, especially when it comes down to putting funds aside for things like your down payment and closing costs. Quite often, homebuyers can be caught by surprise when it comes to closing costs, so it's important that you ask your lender or broker what costs you will [...]
It's been a year since the Covid pandemic changed how we lived our lives. The housing market was one area that was greatly impacted, with many agents and sellers having to change how they showed their homes, and buyers being uncertain about buying because of the loss of jobs. We've had a year to get [...]
