Andrew Sikomas
How To Choose Between A Variable Rate and Fixed Rate Mortgage?
The reason I don’t talk about fixed or variable interest rates at the beginning of a mortgage conversation is that ‘the best rate' depends.
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Andrew Sikomas
4 min read
How You Can Access the Equity in Your Home
There are two primary ways to access the equity in your home: refinancing with a standard mortgage or setting up a HELOC.
Andrew Sikomas
2 min read
Terms and conditions
The features and fine print that affect your total cost of borrowing. TL;DR: there are many factors besides the interest rate that will...
Andrew Sikomas
2 min read
Home inspection
Just do it. TL;DR: If you're looking for a shortcut on reading this article then you should definitely read this article! It is easy to...
Andrew Sikomas
4 min read
Mortgage options when buying and selling
Break, or port? Port and blend? Blend and extend? All explained here. TL;DR: you can pay to break the mortgage and take a new one, or...
Andrew Sikomas
3 min read
Other monthly expenses to think about
Besides the mortgage payment, there are other costs you will encounter that should be considered. TL;DR: besides your mortgage payment,...
Andrew Sikomas
2 min read
Property taxes
If you own property, you pay property taxes. TL;DR: property taxes are a guaranteed part of property ownership. The annual levy is based...
Andrew Sikomas
2 min read
Condo fees
Your monthly contribution to maintaining and insuring shared property TL;DR: Home buyers who opt for a condo will have to pay a monthly...
Andrew Sikomas
2 min read
Title insurance
A necessary transaction cost which protects against title issues TL;DR: Title insurance is a type of insurance policy which protects...
Andrew Sikomas
2 min read
Real Estate Lawyers
TL;DR: When you buy a home you will need to hire a real estate lawyer. Your lawyer will ensure the paperwork is done correctly, your...
Andrew Sikomas
3 min read
Appraisal
There is a value determination on every single mortgage transaction always TL;DR: As the title suggests, an appraisal is a determination...
Andrew Sikomas
3 min read
Default insurance (CMHC insurance)
Default insurance is expensive but useful (and often required!) TL;DR: you need this if you have less than a 20% down payment. You...
Andrew Sikomas
4 min read
Down payment
The down payment is the amount of money that you put forward when you buy a home. Mortgage Down Payment The down payment is the amount of...
Andrew Sikomas
3 min read
Qualifying to buy a home - the 40,000 foot view
A general overview of buying a home and what gets looked at to qualify. TL;DR: if you were going to lend hundreds of thousands of dollars...
Andrew Sikomas
4 min read
Pre-approval
Thinking of buying a property, but don’t know where to start? Well… that’s where a mortgage pre-approval comes in. Start here. TL;DR: a...
Andrew Sikomas
2 min read
Finding the right home without blowing your budget
Responsible home ownership includes knowing what you can comfortably afford, setting a budget, and buying within it. If you have been...
Andrew Sikomas
4 min read
Credit Score
TL;DR: Closing an old un-used credit account might hurt your score; your score will go up or down for a variety of reasons; a good credit...
Andrew Sikomas
2 min read
Credit Checks
Is it really necessary to pull credit? Will it hurt me? TL;DR: Yes, it is necessary. And generally, no, it won't hurt you. But it can...
Andrew Sikomas
3 min read
Considering a subject-free offer?
If you're in the market for a new home in 2022, in just about any market in Canada, there's a good chance you may be facing some stiff...
Andrew Sikomas
5 min read
RRSP Home Buyer's Program
TL;DR: you can take up to $35k/person out of your RRSPs tax-free to buy your first home. You pay back your RRSP over 15 years, or you pay...
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