Mortgage Amortization is a financial term that describes the systematic repayment of a mortgage debt through regular, predetermined installments over a specified period. It delineates how you gradually reduce your mortgage balance via timely payments. The amortization period of a mortgage refers to the span it would take to ultimately pay off the mortgage, given […]

New to mortgages? Have questions but not sure where to start? We have the answers! What is the best interest rate I can qualify for? Your credit score plays a big role in the interest rate you can qualify for. The riskier you appear as a borrower, the higher your rate will be. While it […]

5 Steps to Getting a Mortgage. The mortgage process can be daunting. We have broken it down into 5 easy steps to help you get started. Vinil is happy to help guide you every step of the way so it is even easier to make your dreams of home ownership happen. Options: Vinil has access to […]

Approximately 20% of Canadians are self-employed, making this an important segment in the mortgage and financing space. There are some key things to note as this process can differ from the standard mortgage. Qualifying for a Mortgage Most lenders require personal tax Notices of Assessment and respective T1 generals to be included with the mortgage […]

What is the First Time Homebuyer Incentive? The first-time homebuyer incentive program is a shared-equity mortgage with the Canadian government. It helps qualified first-time buyers to reduce their monthly mortgage payments to better afford a home! The Incentive: This program allows you to obtain an incentive from the government to assist with your down payment, thereby […]

Getting a Mortgage After Bankruptcy. If you have had to declare bankruptcy, you may be wondering what is next. Bankruptcy is not a financial death sentence. In fact, there are a few things you can do after declaring bankruptcy to help reset your financial status and get a mortgage in the future. While there is […]

If you are a self-employed client who owns your own business, you may have chosen to set that business up as a corporation. This means the business operates as essentially its own person. They have income through business revenue and expenses from marketing costs, materials, office space, etc. There are a few benefits to putting […]

The economic landscape for young Canadians can be a rugged terrain to navigate. They face uncertainty due to increased interest rates and inflation. This can be frustrating for those just beginning to build their career, considering buying a home or starting a family. If you are a parent, you may wonder how to support your […]

A second mortgage is a mortgage that is taken out against a property that already has a home loan (mortgage) on it. Generally, people take out second mortgages to satisfy: Short-term cash or liquidity requirements Have an investment opportunity Pay off higher-interest debts (such as credit cards and student loans) If you are considering a […]

Many people are avoiding longer-term fixed mortgages, expecting rates to go down. Here’s why you should consider a 5 Year fixed rate for your mortgage in this market. The Bank of Canada raised overnight rates by 25 basis points last week. This means variable rates are high and may increase even more in 2023. You […]