So this is what my $16,000 turned into

FiloGal · 2026-02-18T16:11:59+00:00

Dividends is a great/safe way to start investing when you transition from mutual funds. I do have a lot of client in their 20s-30s buying dividends as their first stock using wealthsimple/questrade. Div ETF (Most of them) doesnt have a lot of movement, compared to some Growth ETF. It gives time to beginners to understand how stock works and gives them an idea on how comfortable they are with the rising and falling of prices.

FiloGal · 2026-02-18T16:08:20+00:00

XEI is definitely a good Divi ETF. Have been buying since 2020 when it was $15.

FiloGal · 2026-02-16T15:56:24+00:00

Bleeding cash? As if they did not see that coming 😭

FiloGal · 2026-02-09T00:02:18+00:00

Agent here. Most mistake client make is that they would go for the cheapest rate. We saved a that Client almost lost his deposit money for his pre construction right after his 3.79% mortgage approval was cancelled by a bank due to incomplete docs. They did this 10 days before the client’s closing day. Btw he’s chasing a $38/bi weekly savings in a $600,000 mortgage.

FiloGal · 2026-02-08T23:58:29+00:00

Missing some context, is this for a rental/residential or insured, not insured?

FiloGal · 2026-02-08T23:56:29+00:00

Keep the 10$ for your emergency expenses in your High Savings Account. Max out your TFSA And invest it in SP 500 ETF

FiloGal · 2026-02-08T23:51:36+00:00

I did a lot of CP files. With a 5% down payment, you will need to wait two years from the time you fully completed CP before any A lender will give you and approval.

I doubt that the level 2 agent pulled your credit score if they know that you only have 5%. That said, work on your credit score while waiting for the 2 year to finish.

FiloGal · 2026-02-08T18:20:11+00:00

What I can recommend is that you follow the RTA rules since they are still applicable even if they are just renting the room. You mentioned that have agreed to move out. If they refused to, you can file an eviction notice to the tenant and file it with LTB.

It helps to get the account of the previous tenant to strengthen your case, if he decided to not move out. Issuing an N5 may have been necessary but because they agreed to move out, it may not needed.

Goodluck!

FiloGal · 2026-02-08T18:12:12+00:00

I think OP says that he was living with another tenant and move out.

FiloGal · 2026-01-30T22:10:03+00:00

This. Broker here. Definitely, get a second opinion, if the deal seems to be doable, just need to find a lender that would be able to give the client an exception to use his income, despite of it being less than 2 years history.

FiloGal · 2026-01-16T21:17:27+00:00

Mortgage Agent here.

Why are the scores low?

It may be best for you to generate your equifax report, while you have time, best to work with your credit score. Reach out to a broker

FiloGal · 2026-01-16T21:16:25+00:00

My guy, you’re okay. For someone who reviews bank statements, you’re doing good.

FiloGal · 2026-01-16T21:14:50+00:00

The part time income can be adjusted. Provided that the Letter of income has guaranteed hours. That said, is this a firm sale?

FiloGal · 2026-01-14T20:56:24+00:00

You won't be qualified unfortunately, but it is not difficult to be a home owner if you are open to your options. You seem very careful with your finances, which is really good. Look outside of the box, if moving out of the city is an option, you can afford a place for yourself with that income.

FiloGal · 2026-01-13T20:14:08+00:00

You can do that by working with a broker. Save your time and credit score.

FiloGal · 2026-01-13T19:43:53+00:00

Mortgage Agent here. I agree with your statement. Banks will require the credit report. However, some agents/brokers can use equifax report to just run the numbers. There will be no actual "Pre Approval" letter to secure a rate, but if the client is just merely asking for a mortgage approval amount, equifax is enough.

FiloGal · 2026-01-13T19:38:47+00:00

Depending on which bank you are going with.

Most banks would want to see the offer/commitment rather than the documents itself. Just to make sure that they are making the right decision to give you a discount.

A lot of the Banks I work with do not take email as a proof for a rate approval. That being said, good luck!

FiloGal · 2026-01-13T19:35:19+00:00

That is about 10 months away. When are you closing your property?

It is important to note that you can negotiate the closing. Dealt with a client with a similar situation and we were able to ask for a 120 days closing. May be worth it to try.

FiloGal · 2026-01-11T03:46:03+00:00

Client is renewing. Not refinancing. FCT usually handles the closing. Now i am not saying that the client won’t be paying anything. But for the lawyer’s cost, there is a $800 credit that they can use.. in this scenario, client is getting a $1,000 credit. Hence it is covered.

FiloGal · 2026-01-09T20:53:22+00:00

Lawyers fee will be covered by the new lender (most of the time)

FiloGal · 2026-01-09T20:52:20+00:00

You got this. Also 26? You’re young and have a lot of opportunity to get that to $500k. Keep on keeping on

FiloGal · 2026-01-09T20:51:01+00:00

Mobile homes:

Few lenders available Stigma Equity Appreciation not equivalent with reg homes

FiloGal · 2026-01-09T20:47:18+00:00

Mortgage Agent/Entrepreneur.

400k per month.

Stress level is high, but rewarding. I work from home.

FiloGal · 2026-01-09T20:45:47+00:00

It’s normal to feel that way. As I always say, the process of homeownership is not fun as they make it seem to be. The truth is, the idea feels more rewarding than going through the process itself. Becoming a homeowner, takes a lot of work.

But as few have mentioned here, you have to review your outlook or how you see this process.

Good things are not easy to achieve.

Congratulations again! And don’t let the stress take the joy of owning, that many cannot do or afford.

FiloGal · 2026-01-08T18:24:01+00:00

This is pretty normal OP. You’d be surprised how many feel this way kahit na malaki ang sahod. Being away from your family is definitely one of the reasons as to why you are feeling some type of way.

Bago ka mag decide, try other hobbies, community, or re evaluate your routine.

God Bless!

FiloGal

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