It is 11:15 at night. The house is quiet, your phone is in your hand, and you are looking at the same house listing for the third time today. One question keeps circling: could we actually do this? Or it is your lunch break. Twelve minutes between meetings, and instead of eating, you are adding up credit card balances and wondering if the equity in your house could clear them. Maybe your question is about a renovation. Stay and fix the kitchen, or move? You do not need an app

When I sit down with a buyer, we count two piles of money, not one. The down payment is the first. The second is the closing costs, and we confirm early that roughly 1.5 percent of the price is set aside for them. On a $360,000 home, that is about $5,400. Nobody should hear about that money for the first time in closing week. The 1.5 percent covers the lawyer's side of closing. The legal fee to your lawyer. The registration fees: Newfoundland and Labrador has no land transfer

When your renewal letter or a new mortgage offer lands, three words do most of the heavy lifting: fixed, adjustable, variable. They sound alike. They do not behave alike, and the difference shows up in your payment, your penalty, and how well you sleep when rates move. A fixed rate stays put. Your rate and your payment do not change for the whole term, no matter what the Bank of Canada does. Simple, predictable, and for many people that is worth a lot. An adjustable rate move

If you are a first-time buyer in Newfoundland and Labrador, the province will lend you your down payment, and it will not ask for a cent back for five years. It is called the First-Time Homebuyers Program, and Newfoundland and Labrador Housing runs it. If you qualify, the program lends you up to 5 percent of the purchase price of your first home. In the St. John's area and Labrador that can be as much as $17,500. In regional centres like Gander, Corner Brook, and Clarenville

Claiming less income is often a smart tax choice, not a mistake. There are two real routes to a mortgage from there: the prime door, built on a two year average that can be grossed up, and the alternative door, with more flexible ratios and 20 percent down.

You moved money into savings on payday and moved it back a week later. That is not a discipline problem, it is your money style. A quick two minute check names your pattern, so you can set a guardrail that fits before you bid or borrow.

Your mortgage has an end date, and so does your working life. If the mortgage date is the later one, that gap is easiest to close while you are still working. My Retirement Review lines the two dates up so you can see exactly where you stand.

Buying your first home feels big because nobody shows you the order of the steps. Here is the path I walk my buyers through, one step at a time, so you know exactly where you stand before you ever look at a house.

If your mortgage renews sometime in 2027, that date probably feels far away. It is closer than you think, and the work you do in the next few months decides whether renewal day is a shrug or a shock. Here is how to use the lead time while you still have it. If you took a five-year mortgage in 2022, or a shorter term since then, your renewal lands in 2027. For a lot of households, that means coming off a rate somewhere between 1.5 and 3 percent and renewing into a market that

If you've owned your home for a while in Newfoundland and Labrador, there's a good chance something has been quietly happening in the background. Your mortgage balance has been coming down. Your home's value may have gone up. And somewhere along the way, you may have accumulated a significant amount of equity. Let's say your home is now worth $600,000 and you owe $300,000 on your mortgage. That's roughly $300,000 in home equity. Great. Now what? Because having equity and know

If you’re reading this while sitting in the lineup at Costco gas… you’re not alone 😅 And you’ve probably noticed — it’s creeping up again. Here’s why that actually matters for your mortgage: When gas prices go up, it pushes the cost of everything up — groceries, shipping, just life in general. That’s what drives inflation. Now here’s where it connects: When inflation stays higher than expected, the Bank of Canada usually holds off on cutting rates.That impacts variable rates

Saving for a down payment is a huge accomplishment — but before you make an offer, it’s important to factor in closing costs so there are no surprises at the finish line. A good rule of thumb is to budget 1.5–2% of your purchase price for closing costs, regardless of how much your home costs. These fees cover everything involved in legally transferring ownership and finalizing your mortgage. Here’s what that typically includes in Newfoundland: 1. Legal Fees & DisbursementsYou

Not all help is equal. When you’re struggling with debt, it can be hard to know which path will help you move forward fastest. In Canada, the two most common options people consider are bankruptcy and a credit proposal — but they’re not created equal, especially if you plan to qualify for a mortgage in the future.. Let’s break it down. Bankruptcy typically lasts around 10 months. During that time, you’ll make minimal payments to your trustee, and once it’s discharged, you can

More Canadians are entering retirement with a mortgage—and it’s not necessarily a bad thing. Rising home prices, financial support for adult children, and strategic borrowing have made mortgage debt in retirement more common than ever. According to Royal LePage, 30% of Canadians retiring soon expect to carry a mortgage, up from just 14% in 2016. While this shift may seem risky, it can work—if you have a plan. Smart strategies include: Refinancing before retirement to secure b

Building homes in Newfoundland and Labrador often feels like rowing upstream—material costs are high, trades are stretched thin. One major, under-the-radar culprit? Canada’s interprovincial trade barriers—rules that hinder the free movement of goods, services, and labor between provinces. According to the Canada Mortgage and Housing Corporation (CMHC), removing these barriers could add 30,000 housing starts per year nationwide, pushing annual starts to nearly 280,000—about 15

A new report from Deloitte suggests that Canada might fall into a mild recession by the middle of 2025. That word—recession—can sound scary, but let’s take a closer look at what’s happening and what it means, especially for us here in Newfoundland and Labrador. So, What’s Going On? Deloitte predicts that Canada’s economy will slow down in 2025. Specifically, they expect two quarters in a row where the economy shrinks, which is considered a technical recession. The main cause?

It’s one of the first questions I get asked:“What’s your best rate?” I get it — with rates plastered all over bank ads and online calculators, it’s natural to assume that the lowest rate equals the best deal. But here’s the truth most Canadians don’t hear:The lowest rate doesn’t always mean the lowest total cost. In fact, it could end up being the most expensive choice you make in your homeownership journey. Let me explain. 💡 Rate Is Just One Piece of the Puzzle When it come

If you're renting in Newfoundland and dreaming about homeownership, you might be closer than you think. Between national programs, flexible financing options, and supportive lenders, there are more ways than ever to take the leap from renting to owning—without needing a massive down payment or perfect credit. Here are 8 powerful ways you can make that dream a reality. 🏡 Programs & Incentives for First-Time Buyers in Newfoundland and Canada 1. First-Time Home Buyer Incentive

Across Canada—and right here in Newfoundland—renting is no longer just a stepping stone to homeownership. Between 2016 and 2021, nearly 500,000 new renter households were added across the country, pushing Canada’s national renter rate to over 33%, the highest it’s ever been. This signals a powerful shift in how Canadians are living—and it’s something we’re starting to see more of across our own communities. What’s changing? More and more homes that were traditionally built fo

Exploring Current and Proposed GST Rebates for New Homes: Insights by The Mortgage Missus Inc. Buying a newly built home in Newfoundland just got more exciting—especially for first-time buyers. The federal government has proposed major changes to the GST rebate program that could save you thousands of dollars on your new home purchase. But what’s actually changed? And how does it compare to what’s currently in place? Let’s break it down. ✅ Current GST Rebate (2024 Policy Stil