Entries by Michele Ellis

Budget 2019 Introduces First-Time Home Buyer Incentive

To help make homeownership more affordable for first-time home buyers, Budget 2019 introduces the First-Time Home Buyer Incentive. The Incentive would allow eligible first-time home buyers who have the minimum down payment for an insured mortgage to apply to finance a portion of their home purchase through a shared equity mortgage with Canada Mortgage and…

Why Should You Use a Canadian Mortgage Broker?

Hi everyone, and welcome back to the Mortgage Studio Blog! I’m Michele Ellis, Senior Mortgage Broker at the Mortgage Studio. In last month’s post about new federal mortgage regulations due to come into effect in January, I urged any readers thinking about changing or applying for a mortgage to give me a call so we…

Debt Consolidation Main Reason for Mortgage Refinancing

There are a variety of reasons why Canadian homeowners refinance their mortgage. Simply put, refinancing means renegotiating an existing mortgage loan agreement. This year, refinancers accounted for 15% of respondents to CMHC’s Mortgage Consumer Survey. The main reason for refinancing was to consolidate debt, followed by to fund home improvements. Here’s more of what we…