Mortgage borrowing tips for homebuyers

Paula Tysoski
Friday, December 2, 2022
Mortgage borrowing tips for homebuyers

Mortgage borrowing tips for homebuyers

November 2, 2022

November is Financial Literacy Month in Canada. To help celebrate this occasion our colleagues at the Financial Consumer Agency of Canada (FCAC) have provided you with some helpful tips on how you can find your financial balance.

Most Canadians have some form of debt. Not all debt is bad — for example, taking out a mortgage to buy a home can be a good investment. Borrowing wisely will help you keep your budget in balance. Here are some things to keep in mind.??
Shop around for a mortgage
Think carefully about getting a HELOC

Ask yourself these questions

Consider the following before you borrow:?

  • Do you need the money now or could the expense wait until you’ve saved for it??
  • Do the monthly payments fit into your budget??
  • Will you still be able to afford the payments if interest rates change??
  • What happens if you miss a payment??

See the complete article on the CMHC website at

CMHC is a valuable resource for home buyers and sellers as well as professionals in the housing industry. 

Are you thinking of making a move? You can get access to all new listings, off market properties and distress sales at

You agree to receive property info, updates, and other resources via email, phone and/or text message. Your wireless carrier may impose charges for messages received. You may withdraw consent anytime. We take your privacy seriously.

Common and costly mistakes that homebuyers make when moving up to a larger home

6 Mistakes to Avoid When Moving to a Larger Home

Learn more

What You Should Know Before You Buy

Fixer Uppers: Myths & Facts

Learn more

10 Secrets Every New Home Buyer Should Know

Buy a New Home or a Resale?

Learn more
Brant Real Estate News
We use cookies to provide you the best experience on our website. Click here to view our privacy policy. By continuing to use this site we assume your consent to receive cookies.