Looking to move out of an apartment, but may not be able to afford a mortgage? There may be a solution.

Looking to move out of an apartment, but may not be able to afford a mortgage? There may be a solution.

Are you interested in moving out of an apartment, or building equity instead of paying rent, but a traditional mortgage isn’t the best choice for you? There may be a solution out there for you that you were unaware of. Foxwood Village is a new development in Hubley that is taking what some might consider an unconventional approach to creating their development. If you buy a home in Foxwood Village, you are buying the house itself, but you will lease the land it sits on.  You pay a monthly rental fee for the land. The rental fee and collateral mortgage payments would still be less than the average traditional mortgage payment.

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Need a new mortgage?: The new qualifying rules coming in January

Need a new mortgage?: The new qualifying rules coming in January

There are a several new rules coming into effect on January 1st 2018 that will affect Canadians' ability to get a mortgage, and for what amount. These rules are not limited to people looking to purchase a home with a mortgage, but also apply to those looking to refinance a home. 

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