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Why You Should Buy a Home in the Ottawa Glebe

Are you considering buying a home in the Ottawa Glebe area? If so, here are some of the main reasons you might want to do that: 

For starters, the Glebe is ideal for families. This vibrant uptown neighbourhood offers everything from large, century-old houses with expansive front yards to modern, sleek condominiums on Bank Street. 

Located on the vibrant Wellington Street, you’ll find everything from waterfront homes to walkable neighbourhood stores and restaurants. The Glebe has something for everyone with great schools, a thriving arts community, and abundant real estate options. 

Why not consider one of the many houses for sale in Glebe, Ottawa?

1. Fantastic History and Character

Like much of Ottawa, the Glebe is an older neighbourhood with a history you’ll be proud to call home. The first settlers were farmers and trappers who farmed the land until the early 19th century. 

The area became a popular Ottawa suburb in the last decades, as the city grew from a small town to a bustling capital city. Homes in the Glebe Ottawa were hot property and people flocked to the neighbourhood.

Now one of the most sought-after neighbourhoods in the city, the Glebe has witnessed some incredible homes. The neighbourhood’s original character is still evident in the many historic homes for sale in the area, and the city has preserved many of these homes for the future.

The Glebe is also home to the oldest church in the city, St. James Catholic Church, which opened its doors to worshippers in 1819. The churches and other houses of worship in the area testify that religious diversity is a unique characteristic of the neighbourhood.

2. A Diverse Community

Many Glebe residents are immigrants, representing a wide range of cultures. Over 44 percent of the population is foreign-born. Along with the many churches, the neighbourhood is home to several different synagogues, temples, and mosques. 

Given how diverse the area is, it’s no surprise that the Glebe is a cultural hub with many festivals, galleries, and community centres.

3. Gorgeous Architecture

On top of everything else, the Glebe is also home to some beautiful homes. Several historic homes are for sale in the neighbourhood, and the architecture is stunning. 

If you’re interested in buying a condo, the Glebe has some new buildings with incredible architecture. These homes and buildings are a perfect blend of historic and contemporary architecture, and you’ll be proud to call them home.

4. Has Convenient Transportation

The Glebe is a great place to own a home with galore public transportation and bike routes. Car2Go has stationed several cars throughout the neighbourhood, making it a great place to rent a car on an as-needed basis. 

If you like the idea of getting around on a bicycle, the area has plenty of bike lanes, and there are bike paths that run throughout the city. Walking is also a great option because the neighbourhood is super walkable.


The Glebe is a great neighbourhood to consider if you’re looking to buy a home in the city. It’s one of the oldest and most culturally diverse neighbourhoods in the city, and it has a history that’s second to none. 

If you’re buying a home for the first time, you must take the time to get to know the neighbourhood and make sure that it’s a good fit for you.

Ottawa Mortgage Services provides mortgage agent services for first-time homebuyers, self-employed individuals, commercial clients, and more. We also help clients with refinancing, pre-approvals, and debt consolidation. If you’re a first-time home buyer in Ottawa, we can help you find the right mortgage in the right neighbourhood. Get in touch with us today and let us know how we can help!

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Got a Mortgage and Student Loan? Here’s a Guide to Help You

The current COVID-19 economic crisis has reshaped how people deal with their finances. Case in point: Canadian graduates who once used college loans before financing a home are now forced to manage a student loan and home mortgage. While it may seem ideal, these may be burdens too great to bear fresh out of college.

Can an individual handle a mortgage and student loan simultaneously without the help of Ottawa mortgage services? Read more to find out!

Mortgage Structure

The amount you can borrow and accompanying interest rate are dependent on the following factors that compose a mortgage:

  • Income: Lenders and financial institutions must determine your gross income to see if you can afford a loan. This due diligence protects their investment from late payments, non-payments, and possible defaulting.
  • Debt-to-Income Ratio: Lenders will also screen this to know further if you can take on another loan when you already have one or two in place. It ensures your income can take the monthly installments without depriving you of finances for your basic needs.
  • Credit Score: Your credit rating indicates to lenders that you’re good for the cash you plan on borrowing. How punctual your payments are can affect your credit score. If you miss out on one month without paying your mortgage, that translates to higher interest, higher monthly installment, or a decline in your loan application. 

In a nutshell, you’ll get lousy loan conditions if you don’t pay on time, including some of the best mortgage terms if you fail to repay promptly every month.

These structures apply to a mortgage and student loan, so individuals can still live within their means while paying off any remaining debts. 

Next, we will see how possible it is to manage two loans simultaneously based on the same structures above.

How to Juggle Your Home and Student Loan

There are three simple steps to handling two loans at once:

  • Repay Other Unrelated Loans: It is of the utmost importance to prioritize when it comes to mortgages. There are loans you must take on, while others you can truly live without.

Case in point: credit card debt and personal loans. There is no need to partake in the plastic economy or borrow cash for bare necessities since it is well within your capability to budget correctly and pay only for what you need to survive. Indeed, dealing with mortgage services is more important than buying the latest gadget.

This also lessens your debt-to-income ratio, leaving you with more breathing room to take on a home loan.

  • Regularly Pay Your Student Loan: Once your other debts are squared away, you can apportion more of your income to paying off your student loans and handling a mortgage. 

Remember what we discussed about credit scores earlier? Early, consistent payments improve your credit rating since lenders also look at your track record as part of the screening process. If they see you’ve been paying punctually, it shows responsibility and could improve your chances of getting a home loan.

  • Apply for Pre-Approval: You can also apply for pre-approval as a buffer for taking on a mortgage with your student loan. You should keep paying off your student debt to show that you are responsible enough to handle additional loans. Pre-approvals usually offer you a suitable mortgage amount you can borrow and their interest rate.


The answer to the question, “how do you take on a student loan and mortgage at the same time?” is, “with great responsibility.” First things first: make on-time repayments for your student loan to boost your credit score and show lenders you can handle another loan. Live simply as well, so you are well within your budget to pay off both and finance your essentials.

But if you genuinely need help getting your affairs in order, don’t hesitate to reach out to Ottawa Mortgage Services. We provide mortgage agent services for first-time homebuyers, self-employed individuals, and commercial clients and assist you with refinancing, pre-approvals, and debt consolidation. Apply now!


Effective Ways Self-Employed Individuals Can Get a Mortgage

When you’re self-employed, securing a mortgage can seem daunting at first. It won’t be a typical path you’ll take, but with the help of a skilled mortgage agent and the correct plan, it can be as simple as it gets.

If you’re self-employed, it simply indicates you’re not on a traditional employee payroll, which deducts CPP/EI and income tax every two weeks. Alternatively, you may operate a company and pay yourself a salary, but your wage is contingent on your company earning enough money to pay you.

While securing a mortgage as a self-employed person can be difficult, it is feasible. A dependable mortgage agent can provide related services to guide you on the right practices you should follow. If you’re not ready to commit to an agent yet, below are some useful ways that you can get financing for your mortgage. 

You Can Qualify for a Mortgage with Prime Mortgages

This is calculated using your actual earnings. You may be able to qualify for a mortgage based on how much you actually make provided you have strong credit, manage your debt well, and have at least a 12-month credit history.

Check to see if you’ve paid yourself, stated enough income for the past two years, and submitted your taxes. This is essential to obtaining a Prime Mortgage (A-Lender mortgage). Also, you owe no money to the CRA and are current on all payments.

You Can Qualify for a Mortgage with Stated Income

When you have a solid gross income but have expenses that bring your income below what you need to qualify under the 5x rule, a Stated Income mortgage can help. To qualify for a Stated Income mortgage, lenders add your gross and net incomes together to create an Income Reasonability number.

You Can Get Financing through Alternative Lenders

If you have terrible credit and are self-employed, working with an Alternative Lender (B-Lender) is a possibility. It’s also a good option if you don’t make enough money to qualify the usual way or through stated income.

Because the contracts are usually fixed for one to three years, this type is good as a short-term solution. You’ll be able to work up your finances and credit during this time and then move on to a more regular mortgage after that.

You Can Opt for Credit Union Financing

If you’re self-employed, credit union financing may be the best solution for you. Consider credit unions as a bridge between traditional lenders and alternative lenders. Credit unions are willing to lend on houses worth more than $1 million and do not levy fees. Their interest rates, however, are higher.

You Can Consider Private Lending

After you’ve explored all other options, private mortgages should be your very last resort. It’s advisable to use these only in an emergency. A private lender’s primary purpose is to make money. They are unconcerned with your earnings, taxes, or debt, so they’ll charge you a lot of money for lending, and they’ll be able to close swiftly if you have an emergency.


Speaking with a mortgage agent first is best if you’re self-employed and want to buy a house or condo. It will be best if you can find a fantastic team of mortgage agents and brokers who specialize in self-employed people and are well-versed in all types of lenders. They can help you find the ideal option for your specific situation.

If you’re self-employed and a first-time home buyer in Ottawa, you can trust Ottawa Mortgage Services to guide you through every step of the home-buying process. We are best in providing mortgage agent services for first-time homebuyers, self-employed individuals, and commercial clients. You can also depend on us if you need help with refinancing, pre-approvals, and debt consolidation. Book us for a consultation today!


Updates on Canada’s First Time Home Buyer Incentive (2021)

Canada’s First Time Home Buyer Incentive (FTHBI) provides funding assistance and a down-payment assistance loan to middle-class homebuyers who have no experience availing their own property before. The program reduces monthly payments by decreasing the interest rate and extending the length of the mortgage. This allows first-time buyers to own homes with lower monthly payments than they could choose for themselves, and it also lowers property taxes by increasing the appraisal value.

The program is intended to level the playing field for first-time homeowners who could not otherwise afford it, allowing them to compete with other home buyers. It is expected to help at least 40,000 buyers over the coming years as it is designed to be long-lasting and sustainable.

The program was first launched in 2019 and has since garnered the support and inquiry of countless middle-class Canadians who are hoping to acquire their dream home without spending too much of their savings.


First Time Home Buyer Incentive was designed for first-time buyers who have no experience owning a residential property. Applicants must be 18 years of age or older and not be a member of a household that already owns a home in Canada.

They also need to be Canadian citizens or permanent residents. The property is expected to be purchased with funds from the applicant’s own resources or that of their spouse or common-law partner.

Buyers can be owner-occupiers or investors and must intend to occupy the property. It is expected that the applicants are not principal residence at the time of application too.

Keep in mind that applicants are not required to have a minimum amount of time in Canada, and they do not need to have been previously employed in Canada.

How To Apply

To apply for the program, the buyer must apply through a participating financial institution.

When applying, the buyer must provide the financial institution with several documents. These include:

  • A copy of the applicant’s birth certificate (if applicable),
  • A copy of their previous Canadian passport,
  • A copy of their previous Canadian citizenship certificate,
  • A copy of their previous Canadian Permanent Resident Card, or
  • Proof of Canadian citizenship or permanent residence.

Applicants must have their income tax returns certified by an authorized representative of the Canada Revenue Agency, Canada Border Services Agency, or Citizenship and Immigration Canada.

Some applicants may also require additional documentation such as a Social Insurance Number, and they must verify their identity with a valid Driver’s License or a piece of photo identification.

Another main requirement for the buyer, the first-time buyer’s spouse or common-law partner, and the first-time buyer’s co-applicant (if any) is to visit the financial institution together, as it is part of the primary application process.

The financial institution will fill out the necessary application forms to apply for the program, after which an application will be submitted to the local Canadian Mortgage and Housing Corporation office who will arrange for an appraisal.


Overall, these are just some of the most vital information about Canada’s First Time Home Buyer Incentive (FTHBI). If you happen to fit the eligibility criteria, feel free to inquire further about the other required paperwork. Not only will knowing them help you familiarize yourself with the appropriate deliverables, but you will also get a general idea of what to expect out of the process.

Be sure to know the essential details by heart, and you may just get that well-needed loan for your dream home in no time.

With that being said, if you are looking for the best mortgage specialist in Ottawa that would help you with your FTHBI, look no further than our expertise here at Ottawa Mortgage Services. We provide mortgage agent services for first-time homebuyers, self-employed individuals, and commercial clients. We also help with refinancing, pre-approvals, and debt consolidation. Contact us today and let us discuss all your available financing options.


How a Mortgage Preapproval Insures You against Higher Rates

Fixed mortgage rates are continuously witnessing hikes from banks and lenders in the past months. Experts predict this to go on for the next years, but alarms are being raised for its potential to occur sooner than what has been expected. 

A mortgage preapproval may help you with this situation. In this article, we will discuss its importance amidst the rising mortgage rates. Read on. 

Interest Rates

The hike in interest rates heavily affects mortgage preapprovals. A mortgage preapproval gives you an estimate of the lender’s borrowing power and offers you an interest rate hold for a maximum of 120 days in most cases. When rates were either steady or declining, people did not pay much attention to their preapproval rates. However, this preapproval price has become a considerable factor in these times of rate hikes. 

A rate increase may favour you if you obtain preapproval for a fixed-rate mortgage. This is because your lender will honour the preapproval rate as long your mortgage funds remain valid during preapproval. 

Property buyers with preapproved fixed rates are able to complete their purchases more quickly and seamlessly compared to those with uninsured mortgages. 

Variable-Rate Mortgages

Getting preapproval for variable-rate mortgages can still be beneficial for you. Your rate will be expressed as a discount to your lender’s prime rate. 

Do not hesitate to take advantage of this option since variable-rate mortgages can be easily obtained these days. Although the payment will be affected by a change to the prime rate in most cases, there are also lenders that offer this type of mortgage that keeps the payment constant regardless of any change. 

This option ensures that you have enough cash flow until your renewal date and that more money can go to the interest instead of the principal when rates rise. Variable-rate mortgages are becoming more popular among home buyers and owners who are keen on maintaining their cash flows. 

The Benefits of Mortgage Preapproval

  • You can have protection against higher rates. If rates fall, you are still considered a free agent and benefit from the lower rates.
  • You are made aware of your borrowing power. This helps you be more prepared for expenses you may need to purchase a home.
  • Your credit will be checked for the process. This is not always done, so it’s best to ask your lender or mortgage agent. While this process does not guarantee approval, it is still an excellent opportunity to gauge if the numbers on your credit report match the property you are eyeing. After all, you do not want to be disappointed in the end when you find out you have been looking into a property that is beyond your budget. 


Not a lot of bankers and brokers offer mortgage preapprovals. They often view this process as a waste of effort and time since market rates can be tricky at varying times. 

However, a mortgage preapproval can bring tons of benefits to make your property purchase a success. This is why we recommend choosing agents who can help you with a mortgage preapproval, especially now that rates increase now and then. Having as many options as possible when purchasing a property is what you should aim for.

If you are on the lookout for mortgage services in Ottawa, turn to Ottawa Mortgage Services. We provide mortgage agent services for first-time homebuyers, self-employed individuals, and commercial clients. Apply now!

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5 Tips to Ensure Debt Consolidation Success

Whenever it seems like your personal finances are in the red, and you’ve accumulated a mountain of debt, one alternative you can turn to is consolidating your debt. By using debt consolidation to gain greater control of your debt, you can save yourself from complete bankruptcy. However, to pull this off properly, you need to know a few things to help you make better financial decisions. Here are some best practices on debt consolidation that you should consider following.

1. Understand the Impact of Debt Consolidation

Debt consolidation is an option where you combine your debt into a single payment. By doing this, your overall interest rate will be reduced, thereby reducing your overall costs. However, it is worth noting that you may also be vulnerable to interest rate hikes because you are now totally exposed to the whims of a single lender. If your lender increases your interest rate, then you will have no other option but to pay more every month.

2. Run the Numbers

When debt consolidation is in question, one of the first things you’d want to do is to run the numbers. Doing this will allow you to come up with a debt consolidation plan that can save you money. By running this simple calculation, you can make sure that you get the most out of debt consolidation. You can then use this to match the loan amount that you want. This will ensure that you get the most out of your debt consolidation and that your debt payments will be reduced.

3. Choose the Right Lender

There are a lot of debt consolidation options out there, and all of them will have different interest rates and terms. So choosing the right lender will be important. You should be able to check all the details of your loan package and make comparisons before settling for one. Most importantly, you should ensure that your lender is a reputable one. If possible, you should also check if your loan has any restrictions concerning debt settlement.

4. Know the Best Time to Consolidate Debt

One of the most important things you need to know when it comes to debt consolidation is when would be the best time to do it. This will ensure that you can have better control over your debt and that you can easily get out of a bad financial situation.

The best time to consolidate debt is when you need to buy a home, and you want to lower your mortgage. This will allow you to make your monthly payments more manageable and settle your debts at a lower interest rate. You will want to do this as soon as you get your mortgage approval letter, so you can have time to do this before the closing date.

5. Avoid the Trap

While debt consolidation can help you save money and improve your financial standing, it can also lead to something called debt entrapment. With debt entrapment, your situation will only worsen over time, and you will end up in a worse financial situation. This is because once you get into debt entrapment, you will have a harder time getting out of it.

Debt entrapment can happen when you constantly borrow money to pay off your debts. When you are in debt entrapment, you will only get deeper in debt, and you’ll struggle more while securing your financial situation and getting the life you want. So if you want to avoid this trap, then you should use debt consolidation sparingly, and you should only use it when you want to get out of a financial situation. If you use it appropriately, then you will find debt consolidation to be a useful tool in your financial arsenal.


Debt consolidation is an excellent way to improve your financial situation, provided that you know how to do it. By following the steps above, you can gain better control of your debt and achieve financial freedom.

If you’re looking for the best debt consolidation loans with reasonable payment and interest terms, Ottawa Mortgage Services is the one to trust. We help you deal with lenders and negotiate all aspects of mortgage underwriting. Work with Ottawa Mortgage Services today and get a free consultation and assessment!