Tag Archives: financial planning

Your Mortgage Renewal Is Coming: 7 Moves to Make Before You Sign

For years, Canadians were warned about the mortgage renewal wave.

Now, for many homeowners, that wave has arrived.

Millions of Canadian mortgages have been renewing after borrowers locked in historically low rates in 2020 and 2021. For homeowners coming off rates below 2%, even a relatively modest increase in their mortgage rate can create a meaningful change in their monthly payment.

But here’s the mistake we see too often:

Treating renewal as a paperwork exercise instead of a financial planning opportunity.

When your mortgage comes up for renewal, you aren’t simply choosing a new interest rate.

You’re deciding how your mortgage fits into the next few years of your financial life.

Here are seven things to consider before signing your renewal offer.

Don’t “Auto-Renew” Your Mortgage: A smarter 5-year playbook for protecting your rate, your options, and your long-term plan

Most homebuyers think their income is the main gatekeeper to a bigger mortgage. The truth? Your numbers matter just as much as your paycheque.

Lenders don’t just look at what you earn — they look at how your finances are organized. With the right setup, you can unlock a higher approval amount without waiting for a raise or working extra hours.

Here’s how smart structuring, debt management, and creative income use can help you qualify for more, even if your salary stays the same.

Before You Trust Your Bank With Your Mortgage, Read This

Most homebuyers think their income is the main gatekeeper to a bigger mortgage. The truth? Your numbers matter just as much as your paycheque.

Lenders don’t just look at what you earn — they look at how your finances are organized. With the right setup, you can unlock a higher approval amount without waiting for a raise or working extra hours.

Here’s how smart structuring, debt management, and creative income use can help you qualify for more, even if your salary stays the same.

The Burn Your Mortgage Podcast: Hope is Not Lost for Homeownership – Creative Options for First-Time Homebuyers with Alex Kjorven

In my interview with Alex, we discuss barriers to homeownership, shared Equity to break into the market, co-owning the home with an investor.

The Burn Your Mortgage Podcast: Everything You Wanted to Know About Home Insurance with Stefan Tirschler

In my interview with Stefan, we explored key differences between tenant/renter insurance and home insurance, as well as the distinctions between house and condo insurance. We underscored the significance of budgeting for home insurance during the homebuying process to avoid financial surprises. Furthermore, we delved into strategies for effectively shopping around for home insurance policies, emphasizing the importance of comparing coverage options and policy terms in addition to prices to ensure comprehensive protection.

The Burn Your Mortgage Podcast: No Regret Decisions with Shannon Lee Simmons

In my interview with Shannon, we discussed several key topics. These included creating a budget that works effectively, highlighting what I call the “Beyoncé Factor” in personal finance. We also delved into strategies for saving money amidst the rising cost of living and the importance of making no-regret financial decisions, particularly when it comes to significant investments like buying a home.

Fixed vs Variable Rate Mortgages: Some Surprising Benefits You May Not Be Aware Of

Are you trying to decide between a fixed and variable rate mortgage? Then you’re watching the right video!

The Burn Your Mortgage Podcast: How to Achieve Your Home Ownership Dream with Alex Rascanu

In my interview with Alex, we discuss why Alex became a real estate agent, what is the process of owning a home and what are some creative ways to get your foot into the door of the real estate market.

The Burn Your Mortgage Podcast: Rent to Own – Making the Dream of Homeownership Come True in Today’s Real Estate Market with Alfonso Salemi

In my interview with Alfonso, we discuss what is Rent to Own (Rent to Home), why Rent to Own is more relevant now than ever before, and how to earn a great ROI by investing in Rent to Own.