Canadian First-time Homebuyers Guide 2023

Canadian First-time Homebuyers Guide 2023

Becoming a homeowner is one of the biggest decisions you’ll ever make, and we’re excited to help you through it. It might seem daunting but you’ll be a home ownership expert by the time you finish reading.

About the author

LowestRates.ca Staff

The LowestRates.ca writing team focuses on telling original stories and bringing you the latest news in the world of personal finance.

Read this next

April 6, 2023

Six common mistakes first-time homebuyers make

Setting out to buy your first home is one of the more exciting parts of adulthood, often accompanied by great pride and ... Read more

February 23, 2023

Government of Canada programs to support homebuyers in 2023

In a high-interest market, prospective buyers can use all the help they can get. Luckily, the Government of Canada offer... Read more

November 16, 2022

Everything you need to know about bridge financing when it comes to buying a home

If you haven’t reached the closing date of your current home by the time you want to buy a new one, a bridge mortgage ... Read more

browse categories

3 ways to make your mortgage more affordable at renewal

3 ways to make your mortgage more affordable at renewal

For those approaching their mortgage renewals, the current interest rate environment is much different than it was five years ago. You’ll want to do all you can to make your mortgage payments more affordable when you renew.

About the author

Michelle Bates

Michelle Bates is an editor/writer in the personal finance space. Her work has also been featured in Cottage Life magazine and on CottageLife.com. In her spare time, Michelle enjoys thrifting home decor, attending live shows, and playing with her Yorkie/Shih Tzu, Freddie, at the park.

Read this next

March 14, 2023

Want to switch lenders at renewal? Here's what you need to know

The mortgage conditions you require may have changed since you first started your term, or you may need a more affordabl... Read more

January 26, 2023

How to get a better rate when you renew your mortgage

Before accepting your current mortgage lender's offer to renew your loan, shop around. You might be able to negotiate a ... Read more

September 22, 2022

Your mortgage is up for renewal, but you’ve just lost your job. What now?

As a homeowner, losing your source of income is doubly stressful. And if your mortgage is up for renewal, you may not kn... Read more

browse categories

Is refinancing your mortgage worth the interest hit right now?

Is refinancing your mortgage worth the interest hit right now?

Given the current state of interest rates, it’s fair to say it’s still difficult to gauge whether now is a good time to make any sudden mortgage moves. While higher interest rates continue to be a stressor for homeowners with variable-rate mortgages and those renewing fixed-rate mortgages, those contemplating refinancing are between a proverbial rock and a hard place.  

About the author

John Loeppky

John Loeppky is a disabled freelance writer and editor who currently lives on Treaty 6 territory in Saskatoon, Saskatchewan. His work has been published by the likes of CBC, FiveThirtyEight, Teen Vogue, Insider, and a host of others. His goal in life is to have an entertaining obituary to read.

Read this next

April 21, 2022

What you should know before refinancing your mortgage

Refinancing your mortgage can be a great way to lower your interest rate, consolidate and pay off debts, or even access ... Read more

February 10, 2021

What happens to the mortgage after a divorce?

When a marriage ends, there’s no shortage of things that spouses suddenly need to split in two: their finances, their ... Read more

browse categories

Are you being asked to pay for tenant insurance? Here’s what to do

What is a blended mortgage?

What is a blended mortgage?

As a homeowner, you might decide to refinance your mortgage for various reasons, but this often comes with some stiff fees. The good news is, there is a way to avoid these fees. Enter the blended mortgage.

This article has been updated from a previous version.  

As a homeowner, you might decide to refinance your mortgage for various reasons, but this often comes with some stiff fees.  

About the author

Caitlin McCormack

Caitlin McCormack is a writer based in Toronto. Her work has appeared in MSN, Food Network, HuffPost, What to Expect, Today's Parent, and Mashable, among others. When she isn't writing, she's busy chasing after her two sons, testing out new recipes, and working on her century-old fixer-upper.

Read this next

April 27, 2023

What is a conventional mortgage?

The big benefit of a conventional mortgage loan is that you have immediate equity in your new home. Let's explore the in... Read more

March 30, 2023

What is a hybrid mortgage, and does it ever make sense to get one?

When it comes to selecting a mortgage, you're usually asked to choose between a fixed rate and a variable rate. But did ... Read more

July 21, 2022

Everything you need to know about reverse mortgages

For older Canadian homeowners, a reverse mortgage can be the perfect way to generate tax-free funds without sacrificing ... Read more

browse categories

Government of Canada programs to support homebuyers in 2023

Government of Canada programs to support homebuyers in 2023

In a high-interest market, prospective buyers can use all the help they can get. Luckily, the Government of Canada offers a number of assistance programs that can make the financial pain of that big purchase a little easier to handle.

This article has been updated from a previous version. 

It’s no secret that Canada’s housing market is feeling the effects of high inflation and Bank of Canada’s eight successive interest rate hikes.  

About the author

H.G. Watson

H.G. Watson is a writer based in Toronto. Her work has appeared in Chatelaine, Vice, Flare, Maisonneuve, The Walrus and more. You can find her at @hg_watson on Twitter.

Read this next

April 6, 2023

Six common mistakes first-time homebuyers make

Setting out to buy your first home is one of the more exciting parts of adulthood, often accompanied by great pride and ... Read more

March 8, 2023

Canadian First-time Homebuyers Guide 2023

Becoming a homeowner is one of the biggest decisions you’ll ever make, and we’re excited to help you through it. It ... Read more

November 16, 2022

Everything you need to know about bridge financing when it comes to buying a home

If you haven’t reached the closing date of your current home by the time you want to buy a new one, a bridge mortgage ... Read more

browse categories

How to negotiate a better rate at your mortgage renewal

With inflation still well above the Bank of Canada’s target, it’s only normal for mortgage holders to have some questions and concerns about their renewal. For many, the first question is: how can I get a better interest rate?

What kind of auto insurance do you need if you drive for Uber or Lyft?

What kind of auto insurance do you need if you drive for Uber or Lyft?

While Lyft and Uber provide commercial insurance that covers you while you’re providing the service, you’re still required to have your own insurance when using your vehicle for personal reasons.

This article has been updated from a previous version. 

About the author

Renee Sylvestre-Williams

Renee Sylvestre-Williams is a finance and business reporter. In her more than 10 years of journalism, her work has been published in the Globe and Mail, Flare, Canadian Living, Canadian Business, the Toronto Star and Forbes. She also publishes a biweekly newsletter, The Budgette, where she provides financial education for single earners.

Read this next

June 19, 2023

How much car insurance do you really need?

The first few questions that come to mind for most drivers are: What kind of car insurance do I need? And how much cover... Read more

June 13, 2023

Switching your car insurance: penalty, cancellation fees, and rules

Read more

June 1, 2023

What is facility car insurance for high-risk drivers?

Generally, the riskier you're seen to insure, the higher your premiums will be. But some drivers are considered too high... Read more

browse categories

What does it mean to be house poor?

This article has been updated from a previous version.  

Home insurance isn't mandatory but here's why we highly recommend it

Unlike auto insurance, home insurance is an optional product. But it could save you from liability.

Pages