Here is what we know. 1. There are no changes to the first time home buyer exemption limits; 2. All buyers (whether first time buyers or not) no longer pay PTT on purchases of NEW homes up to $750,000 in value; note the buyer must be a Canadian citizen or a [...]
Do you use gmail or an Android device? Or any of Google Drive's tools? (Docs, Google Photos, Android etc.) Google takes privacy and security seriously. To the point that they want to give you more free storage to make sure you stay on top of things! Google has brought back the reward of 2GB free Google [...]
Canada's residential real estate market showed strong growth in the fourth quarter of 2015, led by hot Vancouver and Toronto markets according to the Royal LePage House Price Survey and Market Survey Forecast released today. Looking forward to 2016, Royal LePage expects continued price increases in most markets, but not at the pace that has been the recent norm. Instead, the national [...]
The federal government is boosting the minimum down payment for higher-priced homes in Canada effective in the new year. The bad news isn't as bad as we anticipated..... yet. Starting in February 2016, CMHC will require a 10 per cent down payment on the portion of any mortgage it insures over $500,000. The five per cent rule remains the same for [...]
This article is stating that Many consumers out there are coming to mortgage brokers and demanding that their mortgage be placed with one of the big six banks. One mortgage broker even says that his client took a higher rate, just to have their mortgage with TD, as opposed to a mono-line lender. Mono-line lenders [...]
22 years later. Hello ALCS! #bluejays #bautistabomb
As of September 28th, 2015, CMHC will be changing it’s borrowing rules to help facilitate more affordable housing in Canada. Currently, home owners with legal rental units can use 50% of the rental income towards their total income which means that home buyers can borrow more money. When the new rules come into affect, borrowers [...]
According to a 2015 Home Buying Report released, Canadian homeowners looking to "upsize" will be turning to their parents for financial help that is higher than the amount first time home buyers are hoping to get from their family. In fact, 42 per cent of current home owners looking to upsize their home are expecting [...]
(NC) New parents have hundreds of questions and well-meaning family and friends have plenty of advice when it comes to putting money aside for education of children. But how do you know what is really right for you and your family? As one example, let's examine the Registered Education Savings Plan (RESP). Why save with [...]
First-time homebuyers on average make a 21 per cent down payment on the purchase of their new home; since the 1990s, about 40 per cent of this has come from personal savings, suggesting Canadians wait to be financially stable before purchasing. But recently, as home prices have risen, 17 per cent of the down-payment has [...]
