Buying a house in Montreal – the credit report

A few of the resources I read mentioned it was a good idea to get a credit report prior to visiting the mortgage lender/broker, so any inaccuracies can be corrected in advance. They indicate the credit report can be obtained free of charge through Equifax or TransUnion. I went to Equifax (note this was before […]

Buying a house in Montreal – the stress test

One of the changes to mortgage rules for 2016 in Canada is the creation of the “stress test“, meant to cool down hot real estate markets and keep people from buying houses that stretch their financial capabilities. If you’re going for a high-ratio (less than 20% down payment) mortgage, lenders are required by law to […]

Buying a house in Montreal – where to start?

So we decided to buy a house, what will the journey look like? There are plenty of easily-googlable resources on the house buying process in Canada and in Québec more specifically (here’s the two most detailed I’ve seen: FCAC and CMHC), so I won’t try to repeat that information, but I’ll document the specifics of […]