Purchasing a home is one of the most significant financial investments you'll make in your lifetime, and for most Canadians, it involves securing a mortgage. While many aspects of the homebuying process are straightforward, one topic that can be confusing for some is mortgage insurance. In Canada, mortgage insurance plays a critical role in helping individuals and families achieve their homeownership dreams. In this blog, we will delve into what mortgage insurance in Canada is, how it works, and why it's essential. What Is Mortgage Insurance? Mortgage insurance in Canada is a financial safeguard designed to protect lenders in case a borrower…

The dream of homeownership is a significant milestone for many individuals and families. It often starts with understanding credit scores and how they impact your ability to secure a mortgage. Your credit score plays a vital role in determining not only whether you qualify for a mortgage but also the interest rate you'll receive. In this blog, we'll demystify the connection between credit scores and mortgages, equipping you with the knowledge you need to embark on your homeownership journey. 1. What is a Credit Score? Before delving into mortgages, it's essential to understand what a credit score is. It's a numerical representation…

There's something deeply satisfying about adding a personal touch to your living space. DIY (Do-It-Yourself) projects not only allow you to unleash your creativity but also help you create unique pieces that reflect your personality and style. In this blog, we'll explore a variety of DIY projects that can enhance your home decor and turn your living space into a reflection of your creativity and individuality. 1. Hand-Painted Canvas Art: Unleash your inner artist by creating custom canvas art. You don't have to be a professional painter; abstract and minimalist designs can be just as impactful. Experiment with colors, shapes, and textures…

Buying a new home is an exciting milestone in anyone's life. It's a fresh start, a new chapter, and a chance to create memories in a space you can truly call your own. However, amidst all the excitement, there's one aspect of the home-buying process that can often be overwhelming: the move itself. To help you navigate this crucial phase seamlessly, Quickfire Mortgage Solutions has put together a comprehensive moving checklist for buyers. Whether you're a first-time homebuyer or a seasoned pro, this guide will ensure you have all your bases covered. Create a Timeline: Start planning your move as soon as…

Support local this Christmas

There are many ways to show support in your community over the holidays, shopping locally helps smaller business grow. Many merchants have unique items and traditional items and they work very hard to supply the best products they can.

As the seasons turn to the warm weather of summer, it is time to pull out the bikes and go for a ride. After you bike has been sitting in storage all winter, what is the best way to get it ready to ride again? Some basic steps can be done at home and some steps will need some professional attention. To start with do the following: Wash your bike Check the chain condition and replace it if needed Check the brakes for deterioration and replace pads if they are too thin. Adjust the brake levers as needed to ensure they are working property.…

JUST ANNOUNCED* that the mortgage qualifying rate, more commonly known as the stress test, is confirmed to be INCREASING as of JUNE 1. The change, comes in on both conventional-uninsured mortgages (20%+ down with no mortgage default insurance) AND insured mortgages, where down payment is less than 20%. The new qualifying rate is 5.25% and could takes effect June 1, 2021. This equates to roughly a 5% decrease in purchasing power. (ex. $500k mortgage down to $475k) Our professional association (Mortgage Professionals Canada), continues to lobby the government opposing changes, putting downward pressure on Canadians ability to purchase homes.