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

If you're 50 or older, it's not too late to buy a home. Here are a few reasons why: Financial Stability: By 50, you're likely more financially stable, with a clearer picture of your retirement needs. This stability can make it easier to secure a mortgage and manage homeownership costs. Long-Term Investment: Real estate is a long-term investment. Even if you buy a home at 50, you can still benefit from property appreciation and build equity over time. Retirement Planning: Buyi

Planning for retirement can be both exciting and challenging, especially if you're considering downsizing your home. More often retirees still require mortgage financing. One crucial aspect of this process is securing a mortgage BEFORE you retire. Here are some essential steps to take and reasons why it's a wise move: 1. Start Early: Don't wait until the last minute to apply for a mortgage. Begin the process well before your retirement date. Lenders generally prefer applicant

A Home Equity Line of Credit (HELOC) can be a valuable financial tool for individuals who are getting ready to retire. Here are some ways in which a HELOC can benefit someone approaching retirement in Canada: 1. Supplementing Retirement Income: Many retirees may find that their retirement savings, pensions, and government benefits may not be sufficient to maintain their desired lifestyle. A HELOC allows them to tap into the equity they've built in their home over the years, p