Bank of Canada October 28: Oxford Says Hike, C.D. Howe Says Hold — How Edmonton Borrowers Should Prepare This Weekend

General Travis Bannert 23 Oct

Five days before the Bank of Canada’s October 28 decision, two credible forecasters published opposite calls on October 22: Oxford Economics expects a 25-point hike next week and another in December, while the C.D. Howe Institute’s Monetary Policy Council recommends holding at 2.25%. Edmonton borrowers cannot control the decision — but this weekend is exactly […]

Bridge Financing in Canada: How It Works When Buy and Sell Dates Don’t Line Up

General Travis Bannert 22 Oct

Bridge financing is a short-term loan, typically up to about 90 to 120 days, that lets you use the equity in your sold home to complete the purchase of your new home when the closing dates do not line up. In most cases the lender requires a firm sale on your existing home, and you […]

Gifted Down Payment Rules in Canada: Gift Letters, Timing and Source of Funds

General Travis Bannert 22 Oct

A gifted down payment in Canada must come from an immediate family member, be confirmed in a signed gift letter stating the money does not have to be repaid, and be supported by a paper trail showing where the funds came from and that they are in your account. Handled early and documented properly, a […]

25-Year vs 30-Year Amortization in Canada: Payment, Interest and Qualification

General Travis Bannert 22 Oct

A 30-year amortization lowers your monthly payment compared to 25 years, but you pay more total interest because the balance comes down more slowly, and in Canada 30 years on an insured mortgage is now available only to first-time buyers and buyers of new builds. If you do not fall into one of those groups, […]

CMHC Mortgage Insurance Explained: What It Protects, What It Costs, What It Unlocks

General Travis Bannert 22 Oct

CMHC mortgage insurance protects the lender, not the borrower, if the borrower defaults, and it is required in Canada when you buy with less than 20% down. The premium is added to your mortgage, scales with how much you borrow compared to the home’s value, and in return an insured mortgage can unlock a lower […]

How Much Down Payment Do You Need in Canada? The Insured and Uninsured Rules Explained

General Travis Bannert 22 Oct

In Canada, the minimum down payment is 5% on the first $500,000 of the purchase price and 10% on the portion between $500,000 and $1.5 million for an insured purchase, while putting 20% or more down lets you buy without mortgage insurance. The right amount depends on the price, your savings, and whether the insured […]

Three Months’ Interest vs IRD: Which Mortgage Penalty Applies to You?

General Travis Bannert 22 Oct

On a closed variable-rate mortgage in Canada, the penalty to break early is typically three months’ interest. On a closed fixed-rate mortgage, the penalty is the greater of three months’ interest or the interest rate differential (IRD). Which one applies to you depends on your mortgage type, how much time is left in your term, […]

What Can Make a Mortgage Approval Fall Apart After an Accepted Offer?

General Travis Bannert 22 Oct

A mortgage approval can still fall apart after an accepted offer if your debts, job, documents, or the property itself change or fail verification before funding. The approval is conditional until the lender has confirmed income, down payment, and the home’s value and condition — and re-checked that nothing material has changed. The safest approach […]

Credit Rebuilding for a Mortgage: Collections, Consumer Proposals and Timing After Bankruptcy

General Travis Bannert 22 Oct

Rebuilding credit for a mortgage means showing a lender a clean, recent pattern: old collections dealt with, any consumer proposal or bankruptcy discharged, and new credit used responsibly and paid on time over a sustained period. There is no single universal timeline — lenders weigh the type of event, how long ago it was discharged, […]

Porting Your Mortgage in Alberta: When Keeping Your Rate and Terms Makes Sense

General Travis Bannert 22 Oct

Porting lets you move your existing mortgage — its rate, remaining term, and balance — from the home you are selling to the home you are buying in Alberta, instead of breaking the mortgage and paying a penalty. It makes the most sense when your current rate is attractive compared to what you could get […]

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Travis Bannert

Mortgage Associate

Blog

Bank of Canada October 28: Oxford Says Hike, C.D. Howe Says Hold — How Edmonton Borrowers Should Prepare This Weekend

Bridge Financing in Canada: How It Works When Buy and Sell Dates Don’t Line Up

Gifted Down Payment Rules in Canada: Gift Letters, Timing and Source of Funds

25-Year vs 30-Year Amortization in Canada: Payment, Interest and Qualification

CMHC Mortgage Insurance Explained: What It Protects, What It Costs, What It Unlocks

How Much Down Payment Do You Need in Canada? The Insured and Uninsured Rules Explained

Three Months’ Interest vs IRD: Which Mortgage Penalty Applies to You?

What Can Make a Mortgage Approval Fall Apart After an Accepted Offer?

Credit Rebuilding for a Mortgage: Collections, Consumer Proposals and Timing After Bankruptcy

Porting Your Mortgage in Alberta: When Keeping Your Rate and Terms Makes Sense

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