Your financial worth, or net worth, is calculated by subtracting your total liabilities (everything you owe) from your total assets (everything you own). This figure provides a snapshot of your financial health, indicating whether you have more assets than debts. A positive net worth means your assets exceed your liabilities, while a negative net worth indicates the opposite. Regularly calculating your net worth helps you manage your finances and plan for the future.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

Mortgage Education

  • Total Debt Service Ratio (TDS)

    The percentage of gross income allocated for payments of principal, interest, taxes, and heat (P.I.T.H.), along with other debt obligations, [...]

  • Title Insurance

    Title insurance protects property owners and lenders from financial loss due to defects in the title of real property. These [...]

  • Paying Off Your Mortgage Faster

    >Getting a mortgage is a significant step toward homeownership. However, the process can seem complex and overwhelming. This guide will [...]

  • Mortgage Payment Deferrals

    Understanding Mortgage Payment Deferrals in Canada In times of financial hardship, homeowners may find it challenging to keep up with [...]

  • What Are the Different Mortgage Types

    Different Mortgage Types in Canada: A Quick Guide When buying a home in Canada, understanding the various mortgage types available [...]