“No Stress Test” option still available!

Don’t Stress about the Stress Test Borrowers presenting with 20%+ downpayment are frustrated after new stress test rules resulted in approximately 20% reduction in borrowing power. However, there’s good news (for now)!    The stress test does not apply to provincially regulated lenders; while some have voluntarily implemented it, a few are still qualifying under[…]

RRSP Power for First Time Home Buyers

RRSP (Registered Retirement Savings Plan) season is here! Use the first 60 days of the year to contribute to your RRSP. You have until March 1st, 2017 to reduce your 2016 income and get a higher tax refund. Additionally, you can withdraw tax-free funds from your RRSP for qualifying home purchases. The Home Buyers’ Plan (HBP)[…]

Down Payment Assistance Helps First Time Buyers in BC

B.C. Home Owner Mortgage and Equity partnership From middle class families to young professionals, first-time home buyers are looking to invest in a secure and stable future. For many British Columbians dreaming of buying their first home, the hardest step is saving for a down payment. That is why the Province is partnering with British[…]

Getting a Mortgage while paying Spousal Support

Spousal Support (alimony) payments can be a major complication when trying to qualify for a mortgage, and it becomes increasingly difficult with the addition of other monthly liability payments such as credit card or vehicle loans. Fortunately, special programs are available to help you finance your home while still meeting your obligations. The example below explains[…]