There will never be a shortage of things to do, but not everything is the best and most profitable use of your time ‘right now’. And profitable doesn’t necessarily mean money. It is easy to bury ourselves in long hours of work based on a genuine desire to provide a better life for our loved[…]
When choosing a mortgage, will a Fixed or Variable rate best serve your needs? This video explains the differences so you can make an informed decision with confidence.
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)[…]
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[…]
Rates are going up. What does it mean for you? If you are currently locked in a fixed rate mortgage, there is no change. If you have a variable rate mortgage or are actively in the process of securing a new mortgage (buy, renew, refinance) then here is what you need to know. Impact[…]
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[…]
MORTGAGE QUALIFICATION CHANGES New housing policies are coming into effect and leaving many Canadians unclear about how their finances have been affected. This FAQ article will focus primarily on Low Ratio Mortgage Loans – mortgages with 20% or more equity or down payment (Click here for High Ratio article). Here’s what you’ll learn: Review of Regulations Prior to[…]
Change is in the Air October 2016 is set to see more change than just the colours and temperature of the fall season; new mortgage rules will change the entire landscape for high ratio borrowers, reducing their buying power by approximately 20%. The tree of homeownership has been shaken, and the remaining leaves are harder[…]