As you breathe in that deep breath of fresh air you know you’ve found that idyllic spot where you’ve always dreamed of spending your golden years.
It’s the perfect cedar-shingled cottage right on the lake, where you can relax and enjoy the company of family and friends. Like a growing number of
Canadians in their peak income years, a vacation property has always been part of your retirement plan and now that you’ve found it, only one step
remains financing it.

In the past, financing for a recreational property has been more challenging than for a principal residence, as traditional lending institutions have found second homes to be a less than desirable
investment. With today’s booming recreational property market, however, Canadians longing for a summer, winter or all-season retreat are finding they have other options.

A growing number of Canadians are factoring a vacation property into their retirement planning. While recreational property mortgages are still
relatively new to the market, they can provide Canadians with an easy and affordable way to make that cottage, chalet or retreat a reality.

A recreational property mortgage can help qualified home buyers make that beach sunset or ski chalet possible with as little as 5 per cent down.
Whether a home buyer is purchasing a waterfront home, resort-style condominium or timeshare property, this type of product can provide a mortgage on an owner-occupied second property located in a known
vacation area. To make qualification even easier, this product can also function as a blanket mortgage utilizing a principal residence as additional collateral.

Vacation properties are more than just a financial investment for most Canadians. They quite often become the spot where families come together.
By visiting a Mortgage Intelligence agent, Canadians can get the financing they need to realize their vacation.

A home is the single largest purchase that most Canadians will make in their lifetime, yet many homeowners are unaware of the dangers posed by identity thieves when it comes to their investment.

Unfortunately, real estate title fraud is on the rise. According to the Canadian Association of Accredited Mortgage Professionals (CAAMP), real estate industry insiders now peg the average case of real estate fraud at $300,000. In comparison, the RCMP estimates the average credit card fraud case in Canada to be $1,200.

Protect your self and your investment with these tips:

Check your credit reports, financial and bank statements regularly for inconsistencies, unknown charges and unauthorized credit inquiries.

Don’t give out personal information in person, over the phone or on the Internet unless you know who you are dealing with, how it will be used and if it will be shared.

Protect your mail, be alert to billing cycles and when bills or mail haven’t arrived.

Shred any documents or materials with personal or financial information prior to discarding them.

Seek advice from a real estate expert who is accredited and licensed in your area when shopping for a home.

Speak to a mortgage broker about how title insurance can help protect both the financial and emotional investment in your home.

You step through the door and feel the exhilarating rush that tells you this is the one this is the house for you. You’ve decided on the house, but now you need your financing in place to seal the deal.

Thanks to tools like the Internet, home buyers are more mortgage savvy than ever and much more aware of the variety of products and services that
are available. But with such an extensive range of options available in today’s market, it can be difficult to wade through and find the one that is
right for you. That is why almost one-third of Canadians are turning to a mortgage broker when making the biggest financial decision of their lives.

The goal of a mortgage broker is to meet the needs of their client and see them through their mortgage transaction from start to finish. Brokers are the ideal source for mortgage information because they have extensive industry knowledge and will ensure you’re getting what you need from your home financing.

By assessing your financial style and examining your current financial picture, a mortgage broker can give you the pros and cons of various mortgage features, such as variable versus fixed-rates, longer amortizations, interest-only and zero-down payments to help identify which option is best for you.

Once your needs are clearly identified, your broker has access to a large assortment of mortgage products and lenders to choose from and can identify
the one that is right for you. A mortgage broker will also take into account your plans for the future. Perhaps you want a second home or an investment property down the road. Your mortgage broker can help you structure your finances now to make your future plans attainable.

Walking you through your first mortgage step-by-step is really just the beginning of what can grow to become a lifelong relationship. Your broker
can help you with a variety of transactions like refinancing, debt consolidation, or purchasing an additional property for recreation or as an investment. They will always be looking out for your best interests.

The lure of a stunning gourmet kitchen or sparkling spa-style bathroom may have you chomping at the bit to begin a home renovation. But if you heed the advice of experienced renovators, pre-planning and advanced preparation are the secrets to renovation success. Here’s a helpful checklist to get your renovation started on the right track:

Decide what you want to do

For most people, this is the fun part – flipping through magazines and watching home decorating shows to get inspired. But it is also one of the most critical phases in any home renovation.

Prepare a realistic budget

Determine how much you are prepared to spend on your renovation. Remember to boost your budget by at least 10% for unexpected costs.

Arrange for financing

Get financing in place early so that you can plan your renovation with confidence. Leveraging the equity in your home is often a good option. As a
secured loan, you can usually obtain an attractive interest rate and with flexible repayments. Other alternatives include refinancing your existing
mortgage or arranging for a second mortgage on your home. To obtain the best possible terms, be sure to work with an independent mortgage broker
who can arrange competitive financing from a number of competing lending institutions.

Select the right team

You’ll want to entrust your project to people known for their quality of work. Ask for recommendations from friends and family, interview prospective
candidates and always check references.

Stick with your plan

Your contractor, who does the construction or subcontracts it to other trades people, will work with you or your designer to implement your plan.
With a sound plan, reasonable budget, financing in place and a team that you trust, your renovation can get off on the right track.