Are You Curious Why Home Owners Take Out Second Mortgages?
Are You Curious Why Home Owners Take Out Second Mortgages? 2nd mortgages or home equity loans can be used for important expenses, paying off outstanding debts, renovations or Children’s [...]
Greater Vancouver Housing Market Interactive Dashboard
Vancouver Housing Market Dashboard We have built interactive dashboards to help you get a sense of housing prices across the Lower Mainland. If you are looking to buy, sell, refinance or you just [...]
BC Government Offers Interest Free Loans to First Time HomeBuyers
BC Government Offers Interest-Free Loans to First Time Home Buyers If you are thinking of buying your first home and you live in BC, then you should be aware of the Home Owner Mortgage and Equity [...]
Changes Coming to BC’s Real Estate Industry
Expect a Shakeup of BC’s Real Estate Industry Change is on the horizon for BC’s real estate industry and, as a potential consequence, the housing market. If you are looking to buy or sell, if you [...]
What is “Shadow Flipping”?
What is “Shadow Flipping” in Vancouver’s Real Estate Market? If you have been following the news around housing affordability in Vancouver, you have probably heard the term “shadow flipping”. It [...]
5 Reasons to Pay Down Your Debt First
5 Reasons You Should Always Pay Down Your Debt First Personal finance doesn’t have to be all that complicated. In fact, it shouldn’t be. For the vast majority of people, it comes down to a few [...]
What is an Amortization Period?
Continuing with our series of posts on some of the most common mortgage “need-to-knows”, this post focuses on amortization periods. We will define what an amortization period is, how it affects [...]
A Great Tool to Monitor Your Personal Finances
Get on Top of Your Finances As we have said in the past, it is important for you to stay on top of your finances. This means more than just paying your bills on time. It means understanding and [...]
What is Stated Income?
Stated income is an extremely important concept for self-employed persons and small business owners that are thinking about getting a mortgage. This post provides a definition for stated income, [...]
Debt Consolidation Calculator
We are now offering free access to our debt consolidation calculator. Previously, this was a report that we only gave to our existing clients but we are now extending the offer to everyone. You [...]
Loan-to-Value Explained
When dealing with mortgages, either buying a home or taking equity out of your current one, your loan-to-value is crucial. This article explains what you need to know in simple terms.As with most [...]
Mortgage Solutions for Self-Employed in Canada
If you are self-employed and you are considering buying your first home or taking some equity out of your current home, then this article is for you. We will explain the underwriting policies [...]
Frequently Asked Questions About Debt Consolidation
Thinking about debt consolidation but have questions about the process? You’re in the right spot. This article answers all the common questions and explains the process. We will also [...]
Behind on Taxes?
Behind on Taxes in Canada Are you behind on your taxes? Either haven’t filed in more than a year of stuck with an unexpectedly large tax bill? If so, this article provides information that you [...]
Home Equity Loans for Small Business
Looking for a loan to run or expand your small business? Do you own your own home? If so, a home equity loan is the best way to finance your investment. Read on to find out more…. Home [...]
Clean Up Your Christmas Credit Card Debt
The holidays typically leave you with at least two things: leftover fruit cakes and high-interest debt. There is a better way though. We can transfer your debt to a home equity loan at a much [...]
How Our Debt Consolidation Process Works
Thinking about debt consolidation but want to know more about the process? We have admittedly spent a good deal of time expounding the virtues of our debt consolidation process. We have [...]
Property Assessment Jump by 15%-25% in Vancouver, but Your Property Tax Bill Won’t
BC Assessment, the Crown Corporation responsible for providing municipalities with property assessments in BC, recently released their 2015 assessments and will be mailing them out this week to [...]
What is a Home Equity Loan?
Thinking about a home equity loan? This article provides a quick primer on what they are, how they are used, and their most important characteristics. Home equity loans are becoming more common [...]
4 Reasons Why Canadian Household Debt Isn’t So Bad
Canadian household debt levels continue to be a hot button topic for policy-makers and media commentators alike. While concern is warranted, the situation is not nearly as dire as some might lead [...]
The Top 7 Uses for Home Equity Loans in Canada
Home equity loans are growing in prominence in Canada and are one of several ways that Canadians have been taking advantage of low-interest rates and rising house prices. But what are they doing [...]
New Down Payment Rules – Painful for Some, Benign for Most
The Federal Finance Minister recently announced changes to the minimum down payment scheme in Canada. As we discussed recently, these changes will impact would-be buyers in certain markets, but [...]
Higher Down Payment Requirements Coming. How Will You Be Affected?
Changes to the Down Payment Scheme – What Do They Mean? On Friday, new Federal Finance Minister, Bill Morneau, announced changes to the down payment scheme in Canada. What are these changes? Who [...]
10 Great Reasons to Transfer Your Credit Card Debt to a Home Equity Loan
Almost half of all Canadian families under the age of 65 are currently holding on to credit card debt. While it is convenient to use credit cards to make your purchases, it is not advisable to [...]
Virtuous Cycle of Debt Consolidation
This article explains what we call the Virtuous Cycle of Debt Consolidation. This is what happens while you are consolidating your debt and how the process reduces your debt faster, improves your [...]
Easy Guide to Debt Consolidation
Are you a homeowner that is looking to consolidate your debt? If so, this article provides the information you need to know. Debt consolidation allows you to lower your interest rates, reduce [...]
Custom Debt Consolidation Report
Debt Consolidation Calculator We are now offering free access to our custom Debt Consolidation Calculator and Reports. Click the previous link to get access immediately. If you would like to [...]
How to Consolidate Debt Properly
How the Debt Consolidation Process Works A lot of what we do at Home Equity Solutions resolves around helping households consolidate debt. There are some misconceptions and there is a bit of [...]
A Quick Tip to Pay Down Your Mortgage Faster
Is Paying Down Your Mortgage Really the Fastest Way to Pay Down Your Mortgage? No, that title isn’t a typo, though it admittedly was meant to catch your attention, which evidently worked. Now, if [...]
Will Your Increases Assessment Lead to Higher Property Taxes? Not Really, No
No, Your Property Taxes Will Not Rise by 20-25% Next Year Recently, there have been a number of news articles pointing out that the next property assessment will include a significant increase. [...]
BC to Change the Property Transfer Tax Scheme
BC to Finally Change the Outdated Property Transfer Tax Scheme The B.C. Liberal Government has announced that they are working on changes to the Provincial Property Transfer Tax Scheme. Summary [...]
6-Tips on How to Consolidate Your Debt
Debt Consolidation Tips It is admittedly much easier to get into debt than get out of it (a lot more fun too). While hard work and will power are necessary to get you out of debt, they aren’t [...]
Weak Migration to BC Could Soften the Housing Market
Is the Weak Migration to BC a Cause for Concern? Statistics Canada recently released data that showed net international migration to BC fell a nearly three-decade low. What does this mean for the [...]
Harper’s Goal to Add Another 700,000 Homeowners by 2020 Sounds Hollow
Conservatives Aim to Increase Homeownership in Canada by 700,000 In a recent speech, Stephen Harper announced that the Conservative party has a new target of 700,000 new homeowners by 2020. We [...]
Canadian Interest Rate Forecast – Q3 2015
This article presents an outlook for Canadian interest rates over the next year and half. More specifically, the 5 year Government of Canada bond yield, which is an important driver for mortgage [...]
Why Does that Vancouver Condo Cost So Much?
If you have ever spoken to anyone in the Greater Vancouver Area, or perhaps had internet access at some point, you have probably heard about Vancouver’s affordability problems. But why does [...]
Expect New Condo Prices in Vancouver to Remain High As Land Prices Increase
What Might Happen with New Condo Prices? Private investors are bidding up land prices and pushing out residential developers in Metro Vancouver. Higher land prices will feed through into higher [...]
9 Tips to Repair and Protect Your Credit Score
Nine Credit Repair Tips This article presents some helpful tips on how to repair and protect your credit score. Your credit score affects many areas of your life. True, it won’t directly impact [...]
Canadian banks helping clients bend rules to move money out of China
Banks in Canada bending the rules to Help Clients move money out of China A new article from the Globe & Mail highlights a disturbing trend amongst Canadian banks of facilitating the transfer [...]
Are We Building Too Many Homes in Canada?
Have We Been Starting Too Many New Homes in Canada? Nope – BMO It seems that every time you open the newspaper (metaphorically speaking of course) there is another article warning of [...]
10 Tips for Reducing Credit Card Debt
With interest rates in the high teens and low twenties, credit card debt can be a huge burden on household finances. Making minimum payments will have you paying off that debt for years, with [...]
40% of Vancouver House-Owners Rent Part of Their Home
A recent survey released by Square One estimates that two-out-of-five house-owners in Vancouver rent out part of their home. According to the insurance agency, this is more than twice the number [...]
Victoria’s Real Estate Market – 2015
Nine Credit Repair Tips This article presents some helpful tips on how to repair and protect your credit score. Your credit score affects many areas of your life. True, it won’t directly impact [...]
Harper Pledges to Collect Data on Foreign Ownership
Conservative Party Promises to Study Foreign Ownership in Canada In a recent campaign pledge (watch here), Stephen Harper announced that a Conservative government would spend $500,000 to collect [...]
Understanding the Fraser Valley Real Estate Market
What You Should Know About the Fraser Valley Real Estate Market – Prices, Trends, and Outlook Great attention is often paid to the Greater Vancouver area, and the City of Vancouver itself. [...]
How Might BC be Affected by a Slowdown in Alberta’s Economy?
BC’s Dependence on Alberta This article highlights research on the dependence of BC’s economy and housing market on Alberta and the potential implications of the on-going economic [...]
Shadow Mortgage Market In Canada
An Explanation of the “Shadow Mortgage Market” in Canada This article explains what “shadow lending” is in the context of the Canadian mortgage market, outlines third-party estimates [...]
CMHC to Change Their Underwriting Policy for Dwellings with Secondary Suites
CMHC has announced changes to their underwriting policy that will make it easier for some homeowners to qualify for a loan Who Does it Affect? The changes affect anyone looking for a mortgage on [...]
Rate Cut Not a Game Changer For Canada’s Housing Market – TD
A recent report by TD bank argues that the Bank of Canada’s recent rate cut will not have a significant impact on Canada’s housing market. This article summarizes the arguments put [...]
Re-Zoning Driving Price Growth and Resales in Vancouver
We have talked in the past about affordability problems in Vancouver. We argued then, as we argue now, that single-detached homes are likely to remain out of reach for most families within the [...]
Foreign Investors Not the Driving Force Behind Price Growth in Vancouver
Foreign investors take a lot of flack in Vancouver and are generally blamed for the rise in home prices in recent years. The unease is completely understandable as the average single-detached [...]
Bank of Canada Rate Cut Won’t Spur on More Borrowing – CIBC
A recent survey by CIBC indicates that most Canadians would use a rate cut to pay down their debts faster, rather than take on more debt] indicates that most Canadians would use a [...]
Mortgage Broker Market Share Rises in 2015
CMHC recently released the results of their annual Mortgage Consumer Survey. The survey included 3,510 recent mortgage consumers in Canada. Of them, 55% had undergone a renewal, 20% refinanced, [...]
Canadian Interest Rate Forecast
All six major forecasters tracked here are calling for an increase in Canadian interest rates in both 2015 and 2016: Interest Rates dropped sharply in the first quarter of 2015, but have risen [...]