Bank of Canada update

General 22 Sep

2021 “Bank of Canada plans to keep interest rate near zero until 2023.” “In a policy statement Wednesday, officials led by Governor Tiff Macklem held the central bank’s overnight rate at 0.25 per cent, which they believe is the lowest it can go without disrupting the financial system, and said they will likely keep it […]

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RRSP Home Buyers’ Plan

General 1 Feb

An RRSP (Registered Retirement Savings Plan) is a valuable tool for saving for retirement, offering tax-deferral on both contributions and on any interest your account receives. That means you can rack up some serious compound interest on your savings before paying tax. You’ll only pay tax on the funds you withdraw from the RRSP in […]

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Tips for Buying an Investment Property in Canada

General 24 Jun

#1. Think About Financing Early Canadian banks are very conservative when it comes to issuing mortgages for rental property investment. You’ll want to think about financing fairly early on to account for the likelihood that getting approved won’t be as easy as it was for your primary residence. Prime lenders will typically want to see […]

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A Pre-Approval Does Not Guarantee a Mortgage Approval

General 28 Apr

by Ross Taylor Many Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval. But the truth is a buyer cannot expect a mortgage pre-approval will automatically translate into a mortgage. The lender now needs to consider the property itself, approve all the terms and review the […]

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How to tell if mortgage rates will go up or down

General 9 Mar

If you have a mortgage, then interest rates are extremely important to you! When rates go up, mortgages become more expensive. When interest rates go down, keeping up with a mortgage becomes much easier. The problem is that you’re not just getting a mortgage based on today’s rate – your mortgage will be subject to […]

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BC Assessments Vs. What Your Home is Truly Worth

General 11 Jan

The dollar figure on your provincial property assessment notice should not be taken as your home’s market value, here’s why: BC Assessment notices have arrived in the mail, giving some homeowners a big smile and a bit more spring in their step (increased property taxes aside), while others wilt and lament at a modest gain […]

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Does your payment frequency matter?

General 21 Dec

It has been said that there are two certainties in life; death and taxes. Well, as it relates to your mortgage, the single certainty is that you will pay back what you borrowed, plus interest. However, how you make your mortgage payments, the payment frequency, is somewhat up to you! The following is a look […]

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General 30 Nov

The purchase plus improvements mortgage is one of the best untapped opportunities when buying a home. Many homes for sale in the market are in great locations and the structure or ‘bones’ of the property is also excellent. But the property may not be totally up to date as far as to look or feel […]

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Home Appraisals: What They Are and How the Process Works

General 23 Nov

As a buyer, one of the key parts of getting a mortgage is having an appraisal performed to confirm the home value for the lender (bank). Why Lenders Want an Appraisal An appraisal is an unbiased, professional estimate of the value of a property for sale. Lenders always require a home appraisal before they’ll issue a mortgage because they want […]

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Renters insurance?

General 16 Nov

Adding a small addendum to your lease agreements, mandating coverage for renters, is a shrewd move to benefit all parties. Whether you’re a new landlord or longtime one, it’s smart to require your tenants to have renters insurance. Here’s how this simple clause can save you from headaches, stress and worry. How renters insurance protects […]

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