Mortgage & Wealth Strategies
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Beyond The Rate
As expert mortgage brokers, we know building wealth through homeownership and achieving financial freedom is about more than just chasing the lowest rate—it’s about strategy.
We're taking you behind the scenes and giving you the insider tools and powerful strategies to get ahead. If you’re a first-time homebuyer, you’ll find everything you need to secure your first property and start building wealth from day one.
If you’re an existing homeowner, this is where you take control. Maximize the wealth-building potential of your current home with proven strategies for refinancing, leveraging equity, and optimizing your mortgage for bigger opportunities.
Your mortgage is more than a loan—it’s a gateway to long-term financial success.
Our goal is simple: to equip you with the knowledge and tools to make smart, strategic decisions that will transform your financial future.
Let’s get started.
Can You Qualify With Income Tax Arrears or Debt Collections?
June 22, 2022 | Posted by: Matt Broom-Hall
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In this article, we talk about the importance of being current with your Income Tax, as it determines whether qualifying for a mortgage in Canada, especially a self-employed mortgage, will be easy or hard for you.
Super-Priority Definition
What the heck is Super-Priority and why should you care? If you want to get a mortgage and income tax isn't your favourite topic, time to learn.
It is very important to understand the term Super-priority Claim, which simply means Canada Revenue Agency (or CRA) can put a claim on all your assets if you don't pay your taxes, including seizing and selling your house! Mortgage lenders don't like that as it puts them second in line to get paid back and there might not be enough money left over for that.
Note that neither the CRA nor the bank will care about you if this happens - they are just going to squabble over who gets the house and the CRA is going to win. So mainstream lenders will likely not lend you money if you cannot prove you are current with your personal income taxes! (This applies to all secured loans, including vehicles.)
What About An Unpaid Debt Collection?
If you have an unpaid collection item or judgment showing on your credit report, you won’t be approved for a mortgage until it’s paid in full.
Collection items are often the result of unpaid cell phone bills or speeding tickets. Even if you’re disputing these items, your best bet is to pay them upfront and then fight your battles after the fact.
Holding out on paying these debts will only hurt you in the long run, like when it’s time to get a mortgage.
Have questions? Feel free to reach out!