Types of Mortgages
Fortunately for buyers, there are a variety of mortgages to choose from.
It is in your best interest to investigate each of them to determine which is the best for your situation. You probably won’t qualify for all of them. In fact, you may only qualify for one. But if you do qualify for more than one, you may save yourself money (and worry) in the long run if you do your homework before signing on the dotted line.
Fixed Rate Mortgages
Consider a fixed rate mortgage if either of the following describes you:
- You plan on living in your new home for many years, and/or
- 15-Year Fixed-Rate:
- Pay off the loan in half the time of a 30-year loan.
- Equity builds up more quickly than in a 30-year loan.
- Payments are higher (which may be a problem if you lose your job or become unable to work).
- 20-Year Fixed-Rate:
- Pay off the loan in 2/3 the time of a 30-year loan.
- The overall interest paid is considerably less than for a 30-year loan.
- 30-Year Fixed-Rate:
- The most common choice, especially for first-time homebuyers, as it’s the easiest of the fixed-rate loans to qualify for.
- Monthly payments are lower than for 15-year and 20-year loans. This can prove especially helpful if you do not have a lot of “padding” between the amount you can afford to spend and the monthly payment for your desired property.
- More desirable if you plan on staying in the same home for years, since equity builds more slowly than for shorter-term loans.
- For income tax purposes, this term provides the maximum interest deduction. You are not a risk-taker and prefer the stability of knowing how much your payment will be each month. Since most home loans are for a period of 30 years, if you want a payment you can count on for that long of a period of time, a fixed rate mortgage may be what works best for you. Once your loan amount and interest rate are calculated and locked in, a fixed rate mortgage will guarantee that you will have the same payment over the life of the loan. Making extra payments to principal will allow you to pay your loan off sooner. This may not always be the best choice, however. If interest rates are very high at the time you take out your loan, with a fixed rate mortgage you’ll be stuck with that high interest for the life of the loan (unless you choose to refinance). Conversely, if interest rates are very low, you’ll come out the winner with interest rates that will stay low no matter how high interest rates go in the future. The following are the advantages and disadvantages of the varying lengths and terms of fixed-rate mortgages:
Adjustable-Rate Mortgages (ARMs):
If you are more comfortable in taking a risk with your money or if interest rates are very high at the time you take out your loan, an adjustable-rate mortgage (ARM) may be the solution for you. You might also choose this type of loan if your planned ownership of the property is short-term or if you expect your income to increase to cover any potential rise in the interest rate.
- Generally, the interest rate when you take out your loan will be lower than a fixed-rate mortgage. Please note that this is true initially, not necessarily long-term.
- Since an ARM rate rises and falls depending on the prevailing interest rate, your mortgage payment will rise and fall accordingly. If your income is not sufficient to cover the highest possible payments, then this option is not for you. On the positive side, the lower initial payments will allow you to qualify for a larger loan than if you choose a fixed-rate. The downside is that your payments will increase if/when the rates go up.
- Typically, ARM interest rates are tied to a specific financial index (such as Certificate of Deposit index, Treasury or T-Bill rate, Cost of Funds-Indexed Arms or COFi, or LIBOR [London Interbank Offered Rate]) and your payment will be based on the index your lender uses plus a margin, generally of two to three points. Get the formula used by your lender in writing and make sure you understand what it means.
- Fortunately, the amount an ARM can increase is limited. There are “caps” on how much your lender can increase your rate, both for a period of one year and for the life of the loan. Plan ahead, and have your lender calculate what the maximum payment would be if your rate went to the highest amount allowed by the cap for your particular mortgage. If you are not confident you’ll be able to pay that amount on a monthly basis, perhaps you should reconsider this type of loan.
Convertible ARMs:
If neither the fixed-rate or the adjustable-rate mortgage seems like the best option, perhaps the convertible ARM will be right for you. This alternative combines the initial advantage of an ARM with a fixed rate after a predetermined number of years. Obviously, this type of mortgage has more advantages when the initial interest rate is low and the future rate is not guaranteed.
- Government Loans: Another mortgage option available to some people is a government loan, providing that you meet the qualifications for these loans.
- VA Loans: Veterans may qualify for a loan from the Veterans Administration. There is a limit on the amount you can borrow, so this option works best for those buying a lower priced home.
- FHA Loans: The Federal Housing Association offers loans to lower-income Americans. Look for the phrase “FHA approved” when looking at ads for homes.
Halloween in Guelph is more than just costumes and candy — it’s that magical mix of community, creativity, and crisp autumn air that makes this city feel like home. Whether you’re searching for the perfect pumpkin, planning a cozy movie night, or looking for a fun local event, Guelph has something for every kind of ghoul and goblin. Pick the Perfect Pumpkin at Strom’s Farm A Guelph fall tradition! Strom’s Farm & Bakery offers everything from corn mazes and wagon rides to caramel apples and cider doughnuts (trust us — you’ll want seconds). Wander through rows of pumpkins to find your favourite and snap a few festive photos along the way. 📍 5089 Wellington Rd 32, Guelph, ON N1H 6J4 Fall Markets & Family Fun October weekends are filled with local markets and events, from the Aberfoyle Antique Market to smaller pop-ups throughout the city. Browse for vintage décor, locally made candles, and cozy knits — or enjoy a warm drink while supporting local makers. Nothing says “autumn” like spending a Saturday outdoors with something pumpkin-spiced in hand. Get Spooked (in a Fun Way!) at Bingemans Screampark Looking for thrills beyond the city limits? Just a short drive away, Bingemans Screampark in Kitchener delivers haunted houses, eerie mazes, and live actors ready to give you a fright you won’t forget. It’s a must-visit for anyone who loves a good scare — best enjoyed with friends and plenty of bravery. 📍425 Bingemans Centre Drive, Kitchener, ON N2B 3X7 Trick-or-Treat Hotspots Around Town From the charming porches of Exhibition Park to the family-friendly streets of Westminster Woods, Guelph’s neighbourhoods truly shine on Halloween night. Expect glowing jack-o’-lanterns, creative costumes, and friendly neighbours handing out treats. Cozy Up at Home If your perfect Halloween involves staying in, make your home the main attraction. Light a candle, pour a cup of cider, and stream a classic like Hocus Pocus or The Addams Family. Add a touch of “moody modern” décor — think black taper candles, amber glassware, and autumn florals — for a look that’s more sophisticated than spooky. Happy Halloween from the Hudson Smith Real Estate Group! Whether you’re out exploring pumpkin patches, trick-or-treating with the kids, or cozying up at home, we hope your Halloween is filled with laughter, community, and a little bit of magic. If you’re thinking about making a move before the year wraps up, our team is here to help you find a home that’s scary good. hudsonsmith.ca | 519-821-3600 | hudson@hudsonsmith.ca
When it comes to selling your home, first impressions aren’t just important — they’re everything. In today’s market, buyers form opinions within seconds of walking through the door (or scrolling through photos online). That’s where home staging comes in — the subtle art of helping buyers see themselves living in your home. What Is Home Staging, Really? Home staging goes far beyond decorating. It’s about creating an emotional connection. A professional stager uses layout, lighting, colour, and accessories to highlight your home’s best features while minimizing distractions. Every detail — from the placement of a chair to the tone of a wall — is chosen with intention. At Hudson Smith Real Estate Group, we’ve seen time and time again how the right staging transforms a space. A well-staged home doesn’t just look beautiful; it photographs beautifully, feels inviting, and draws in buyers who are ready to act. The Impact on Buyer Perception Staging helps buyers picture themselves in the home — not your home, but their potential one. Neutral palettes, uncluttered surfaces, and strategic furniture placement make rooms feel larger, brighter, and more functional. According to industry studies, over 80% of buyers say that professionally staged homes make it easier to visualize the property as their future home. That emotional pull is what often leads to quicker offers and stronger sale prices. The Financial Payoff It’s natural to wonder if staging is worth the investment. The numbers say yes: Staged homes typically sell up to 73% faster than unstaged ones. They can sell for 6–10% more on average, easily covering the cost of staging. Even partial staging — such as main living areas and primary bedrooms — can dramatically improve online engagement and showings .Think of it like preparing your home for its debut performance: the better the presentation, the bigger the audience response. Online Appeal in a Digital World Most buyers start their search online, meaning your listing photos are the first showing. A staged home captures attention instantly — bright, balanced, and visually appealing. Combined with professional photography and video, staging ensures your home makes a lasting first impression — one that stops buyers mid-scroll and makes them want to see more. Our Approach at HSG We work closely with trusted stagers and stylists who understand how to enhance a home’s personality while keeping it universally appealing. Whether it’s a minimalist downtown condo or a sprawling family home, our goal is to highlight what makes each property shine. Of course, we’ll have our stager come to your home and make sure it’s picture-perfect — a complimentary service included when you list with our team. Every listing tells a story — staging helps make sure it’s the story buyers want to hear.
Guelph has long been known as one of Ontario’s most welcoming and community-driven cities, and it’s no surprise that families continue to choose it as home. With excellent schools, plenty of green space, safe streets, and a strong sense of community, Guelph offers a wide variety of neighbourhoods suited to families at every stage of life. If you’re thinking of making a move in 2025, here are some of the best family-friendly neighbourhoods in Guelph to explore. 1. Westminster Woods & Clairfields South Guelph’s Westminster Woods and Clairfields areas are consistently top picks for families. With extensive trails, nearby parks, and highly regarded schools like Westminster Woods Public School, it’s a safe, vibrant community where kids can walk or bike to friends’ houses. Plus, you’re close to shopping at Clairfields Commons and have quick access to Highway 401 for commuters. 2. Kortright Hills Nestled in Guelph’s south end, Kortright Hills is loved for its quiet, winding streets, mature trees, and larger lot sizes that give families room to spread out. The neighbourhood backs onto plenty of green space and trails, making it easy to enjoy nature right outside your door. With Kortright Hills Public School at its heart, it’s a true family-oriented community where kids can walk to school and neighbours know each other by name. 3. Exhibition Park For those who love character homes and community charm, Exhibition Park is a gem. Centered around its namesake park — complete with tennis courts, splash pad, playgrounds, and green space — this neighbourhood combines history with walkable access to downtown. Families love the sense of community and the chance to be steps away from Guelph’s best festivals, markets, and schools. 4. Kortright East & Kortright West South of the city’s core, Kortright East and West are two of Guelph’s most popular family neighbourhoods. Kortright East is known for its larger executive homes on mature lots, while Kortright West offers a wider mix of housing styles, from established properties to newer builds. Both neighbourhoods give families easy access to schools, shopping at Stone Road Mall, the University of Guelph, and plenty of trails and green space. 5. East End One of Guelph’s fastest-growing areas, the East End is an excellent option for families seeking more affordable housing without sacrificing amenities. With schools, parks, and community centers built into the neighbourhood design, it’s a hub for young families. Ongoing development also means new amenities are constantly being added, making it a great place to plant roots for the future. Why Families Love Guelph No matter where you choose, Guelph offers families: Top-rated Public and Catholic schools An active sports and recreation culture Abundant parks, trails, and green spaces Safe neighbourhoods with strong community pride Quick connections to the 401, Kitchener-Waterloo, and the GTA Thinking About a Move in 2025? At the Hudson Smith Group, we know that the right neighbourhood is just as important as the right home. Whether you’re looking for quiet streets, walkability, or the best schools, our team can help you find a community that fits your family’s lifestyle. 📩 Reach out today to start your search in Guelph’s most family-friendly neighbourhoods.
