In today’s economy, getting a mortgage from a traditional big 5 bank can be a challenge. With slow approvals, strict lending criteria, and deep institutional conservatism on who to approve, it’s no wonder that many people …

As a private mortgage lender in Toronto, we understand the financial strain that the holiday season can leave on our clients. After the festivities and expenses of the season, many people find themselves struggling with a significant …

In this week’s blog post, we’re going to focus on some solid and positive news. From June 2022 to December 2022, Canada has seen inflation decline, with just one month of inflation staying flat (October). The inflation rat …

Yes, the market has turned to become more difficult for sellers, and inflationary pressures continue to put upward pressure on interest rates; but the underlying fundamentals to our real estate market are strong. Over the long term, p …

Mortgage stress tests were introduced some years ago as an added security to protect the overall lending market from risky first time home buyers. Stress tests were intended to prove that first time buyers would be able to pay their m …

In October we published an infographic outlining exactly how the Bank Of Canada’s rate increases were impacting Canadians with variable mortgages. With the recent news from the Bank Of Canada hiking rates another 0.5% (50 BPS) these …

Tembo has been the go-to for thousands of customers across southern Ontario for second or third private mortgages for years. We’ve moved with extreme speed to help our customers receive their 2nd or 3rd mortgage funds. We’ …

Despite all of the massive rate hikes unleashed on the economy by the Bank of Canada, the national inflation rate remained unchanged at 6.9% in October; the same level it was in September. If we consider the 7% inflation rate in Augus …

The news is still sinking in and has reverberated across the political spectrum, the real estate community, and the environmental movement: Ontario is proposing to build 50,000 homes in the Greenbelt. The decision is another episode i …

The Bank of Canada has taken the lowest interest and mortgage rates in Canadian history and in a manner of months, sent them skyrocketing at the fastest pace on record. The Bank of Canada completely underestimated and dismissed the ex …

Equifax Canada just released the latest survey numbers on credit card balances, and the picture isn’t rosy. The average credit card balance across Canada is just over $2,100. This may not seem like much, but Canadians generally …

In this blog post, we’re going to go over some of the recurring questions we get from folks who are interested in looking at the benefits and opportunities of a Tembo private second mortgage. 1. What do I need to be approved? Th …