Are you ready to take the leap into homeownership? Weighing out the pros, cons, costs, and considerations is the best way to help you determine if you are ready to own a home. Renting Pros Renting is a wonderful first step to living on your own. Given that it lacks long term commitment many rental agreements generally only last one … Read More
Should I Use RRSPs For A Down Payment?
Bulk up your down payment with help from your Registered Retirement Savings Plan. The Home Buyers’ Plan (HBP) is a program from the Government of Canada that allows first time home buyers to withdraw up to $25,000 from their RRSP towards their Canadian mortgage rate down payment for their first home, tax free. How Does the Home Buyer’s Plan Work? … Read More
Ways to Obtain a Mortgage When You’re Self-Employed
Own your own company? Find out how you could have a house too! Data shows that almost 20% of all income earners in Canada are now self-employed. Today, lenders desire evidence of a steady income. Here are a couple of ways to ease the process and raise your possibilities of obtaining a low mortgage rate. Document Every Penny You’ll be … Read More
Mortgage Life Insurance
Is this coverage right for you? Another thing to take into consideration during your low mortgage rate shopping process is Mortgage Life Insurance, which is different than Mortgage Default Insurance. What is Mortgage Insurance? Mortgage Insurance is also referred to as mortgage life insurance and creditor insurance. In Canada, banks use post-claims underwriting for Mortgage Insurance. They only confirm that … Read More
Seller’s Market vs. Buyer’s Market
Understanding the housing market Have you ever wondered who decides how much a house is worth and how they do it? The market is influenced by a variety of factors, all adding to the final asking price. A few of the factors include: Tempo of the market – the speed at which homes are currently selling Confidence in the economy … Read More