Should You Use Your RRSP To Buy Your First Home?

familylendingFamilyLending.ca, Financial Tips, First Time Home Owner, Mortgage Down Payment, Residential Mortgages

Purchasing your first home can be tough, especially when it comes to scrounging up a sizable down payment. In Canada, you must be able to cough up a 20% down payment in order to avoid purchasing costly mortgage insurance. If you’re struggling to find enough cash to meet this requirement, don’t throw in the towel quite yet. Under the Home … Read More

Short or Long: Which Mortgage Term Works For You?

familylendingFamilyLending.ca, First Time Home Owner, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

The term of your mortgage is an important factor to consider when choosing your financing program. A few quick strokes on a mortgage calculator will show that long term mortgages do, in fact, reduce your monthly payments, but do these short term savings really add up over time? The professional mortgage brokers at FamilyLending.ca take a look at various mortgage … Read More

Life expectancy for Canadians rises to 80.9 years

familylendingFamilyLending.ca, General Interest, Household Budget, Property Maintenance

Life expectancy at birth continued to rise, reaching a new high of 80.9 years during the three-year period from 2006 to 2008. This was up 0.2 years from 2005-2007. Life expectancy at birth was above the national average in three provinces: British Columbia (81.4 years), Ontario (81.3 years) and Quebec (81.0 years). The lowest life expectancy at birth was recorded in the three territories combined (75.2 years).

FAMILYLENDING.ca (announces Rob Browning)

familylendingFamilyLending.ca, General Interest

Robb and Kim Nelson and the FamilyLending.ca team are pleased to welcome Rob Browning as the Vice President of Operations. As FamilyLending.ca expands its business into other parts of the province and country, Rob will assist our team with developing our organization and establishing branches in other cities. Rob brings a wealth of experience as a leader and manager in … Read More

Consumers paying more for home insurance but mortgage interest costs decreased in Aug

familylendingGeneral Interest, Household Budget, Housing Costs, Mortgage News, Refinancing my Property, Residential Mortgages

The Consumer Price Index (CPI) rose 3.1% in the 12 months to August, mainly as a result of higher prices for gasoline and food purchased from stores. This follows increases of 2.7% in July and 3.1% in June. On a seasonally adjusted monthly basis, consumer prices rose 0.3% in August. The 0.4 percentage point difference between the year-over-year increases posted in August and July was mainly the result … Read More