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Posted by: Avaljit Sandhu
When Does Refinancing Make Sense? Mortgage refinancing is the process of replacing your existing mortgage with a new one, often with different terms and interest rates. Homeowners refinance for various reasons, such as lowering their interest rate, reducing monthly payments, consolidating debt, or accessing home equity. Refinancing makes sense if: You can secure a lower […]
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Buying your first home is a big deal! It’s exciting, but it can also feel a little overwhelming. Between saving for a down payment, understanding mortgage options, and figuring out if you qualify for any government incentives, there’s a lot to think about. But don’t worry! This guide will break everything down in a simple, […]
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Mortgage Rate Trends in Canada for 2025: Predictions, Housing Market, and What Borrowers Should Expect Bank of Canada Rate Cuts & Predictions The Bank of Canada (BoC) has started cutting rates in 2024 after reaching a 23-year high of 5.0%. By January 29, 2025, the BoC made another cut of 0.25%, bringing the policy rate […]
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By Avaljit Sandhu – Mortgage by Aval Sandhu Owning a home in Winnipeg or anywhere in Manitoba is a dream for many, but if you’re self-employed, getting a mortgage can feel like an uphill battle. Unlike salaried employees, proving your income as a business owner, freelancer, or contractor can be a challenge. That’s where self-employed […]
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Rates Matter! Here’s Why You Should Pay Attention 💸 Mortgage rates can have a big impact on your monthly payments and the overall cost of your home. Here’s why staying updated matters: 📉 Lock in the Best Rate: A lower rate can save you thousands over the life of your mortgage. ⏳ Timing is Key: […]
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📊 Time for a Credit Clean-Up? Here’s How to Boost Your Credit Score for Homeownership 🏡 Your credit score plays a BIG role in securing the best mortgage rates! If you’re planning to buy a home or refinance, now’s the perfect time to clean up your credit. Here’s how you can get started: ✅ Check […]
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Wondering what title insurance is and why it matters? Title insurance protects you from potential issues with the ownership of your property, like fraud, errors in public records, or title defects. It’s a one-time cost for long-term peace of mind! 🏡 In Manitoba, title insurance typically costs between $250 to $400, depending on the property […]
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Did you know? Staying with your employer during the home-buying process is crucial! Any changes to your job or income status can halt or significantly delay your mortgage approval. To avoid unnecessary setbacks, keep your employment steady until the deal is finalized.
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Thinking about a renovation? Here are some things to consider: Budget: Set a clear budget and stick to it—renovations can get expensive quickly. Purpose: Are you renovating to improve your home’s value or for personal comfort? DIY or Pro: Do you have the skills for a DIY project, or will you hire professionals? Some […]
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In Winnipeg, rent for a 1-bedroom apartment ranges from $900 to $1,300 per month, and a 2-bedroom can be $1,200 to $1,800. Detached homes typically rent for $1,600 to $2,500+. Buying a home in Winnipeg costs around $350,000 – $380,000. With a 5% down payment and a 4.44% mortgage rate, monthly mortgage payments could range […]
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