Bank of Canada Decision in Three Days: The Monday Checklist for Edmonton Borrowers Before October 28

General Travis Bannert 25 Oct

The Bank of Canada announces its next policy decision on Wednesday, October 28, with the rate currently at 2.25% and prime at 4.45% — and for the first time in a year, a hike is the majority expectation: 19 of 34 economists in the Reuters October 21–23 poll expect a 25-point rise to 2.50%, with […]

How Parents Can Help With a Down Payment: Gift, Loan, Co-Sign or Guarantor

General Travis Bannert 24 Oct

Parents can help with a first home four distinct ways — an outright gift, a documented loan, co-signing the mortgage, or guaranteeing it — and lenders treat each one differently. A gift adds to the down payment without adding debt; a loan adds a payment to your ratios; a co-signer adds their income and their […]

Costs Beyond the Down Payment: Closing Costs Edmonton First-Time Buyers Forget

General Travis Bannert 24 Oct

Beyond the down payment, Edmonton buyers need closing funds for legal fees and disbursements, land title registration, an appraisal where required, a home inspection, property tax and utility adjustments, and CMHC insurance taxes where applicable — and lenders commonly check that you hold roughly 1.5% of the purchase price for closing costs on top of […]

Manufactured-Home Mortgages and Chattel Loans in Canada: How the Financing Differs

General Travis Bannert 24 Oct

Manufactured-home financing splits on one question: do you own the land? A manufactured home on land you own can often be financed with a conventional-style mortgage, while a home on leased land in a park is usually financed with a chattel loan — a loan secured by the home itself, not the land — which […]

Rate Hold Expired Before Possession? Options for Long New-Build Timelines in Edmonton

General Travis Bannert 24 Oct

When a rate hold expires before a long new-build possession, you have not lost your mortgage — you have lost the ceiling on its price. The practical options are a fresh hold or approval at current rates, a builder-affiliated lender’s capped-rate program if your builder offers one, or restructuring the file (down payment, amortization, product) […]

How Much House Can a First-Time Buyer Afford in Edmonton? A Worksheet Approach

General Travis Bannert 24 Oct

How much house you can afford is set by two ratios lenders use — your housing costs as a share of gross income, and all your debts as a share of gross income — tested at the stress-test qualifying rate, not the rate you will actually pay. A worksheet that runs those ratios on your […]

FHSA vs RRSP Home Buyers’ Plan: Which First-Home Savings Tool Fits You?

General Travis Bannert 24 Oct

The First Home Savings Account (FHSA) and the RRSP Home Buyers’ Plan (HBP) are not rivals — they are two different tax tools that can be used together on the same first home. The FHSA gives you a tax deduction going in and a tax-free withdrawal coming out, up to its limits; the HBP lets […]

Purchase Plus Improvements Mortgages in Canada: Rolling Renovation Costs Into Your Purchase

General Travis Bannert 24 Oct

A purchase plus improvements mortgage lets you buy a home and finance defined renovations in the same mortgage: the lender approves you on the home’s improved value, holds back the renovation portion, and releases it as the work is completed and verified. For Edmonton buyers eyeing solid older homes that need a kitchen, a furnace, […]

Reverse Mortgages in Canada: How CHIP Works, What It Costs and What It Does to the Estate

General Travis Bannert 24 Oct

A reverse mortgage lets Canadian homeowners aged 55 and over borrow against their home’s equity without selling and without required monthly payments — the loan, plus interest that accrues over time, is repaid when the home is sold, the owners move out permanently, or the estate is settled. The CHIP Reverse Mortgage from HomeEquity Bank […]

Condo Mortgages in Canada: Why Lenders Review the Building, Not Just the Buyer

General Travis Bannert 24 Oct

A condo mortgage is approved on two files, not one: yours, and the building’s. Lenders and insurers review the condominium corporation’s reserve fund, insurance, litigation, and rental rules because the unit’s value — their security — depends on a building you do not control, and a building in financial trouble can stall or kill an […]

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Travis Bannert

Mortgage Associate

Blog

Bank of Canada Decision in Three Days: The Monday Checklist for Edmonton Borrowers Before October 28

How Parents Can Help With a Down Payment: Gift, Loan, Co-Sign or Guarantor

Costs Beyond the Down Payment: Closing Costs Edmonton First-Time Buyers Forget

Manufactured-Home Mortgages and Chattel Loans in Canada: How the Financing Differs

Rate Hold Expired Before Possession? Options for Long New-Build Timelines in Edmonton

How Much House Can a First-Time Buyer Afford in Edmonton? A Worksheet Approach

FHSA vs RRSP Home Buyers’ Plan: Which First-Home Savings Tool Fits You?

Purchase Plus Improvements Mortgages in Canada: Rolling Renovation Costs Into Your Purchase

Reverse Mortgages in Canada: How CHIP Works, What It Costs and What It Does to the Estate

Condo Mortgages in Canada: Why Lenders Review the Building, Not Just the Buyer

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