About kyle_wils

Kyle Wilson is a Mortgage Broker and CEO of HMCF.CA Developments, living in Kelowna British Columbia. His passion is finance, budgeting, technology, and educating clients on innovative tools and resources to create an efficient and stable financial environment. Go to hmcf.ca and contact him for financing and home renovation advice!

How the new Property Transfer Tax (PTT) rules will affect your next home purchase.

By |2020-11-10T17:36:18-08:00February 17th, 2016|Categories: Budget, Finance, Real Estate|

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 [...]

Get 2GB Free Cloud Storage by Taking Google Drive Quick Security Check

By |2020-11-10T17:36:18-08:00February 9th, 2016|Categories: Finance, Smartphone, Technology|

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 [...]

Pace of House Price Inflation in Toronto and Vancouver to Return to Earth in 2016

By |2020-11-10T17:36:18-08:00January 25th, 2016|Categories: Budget, Finance, Real Estate|

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 [...]

Yikes. Is 5% down mortgage a thing of the past?

By |2020-11-10T17:36:18-08:00December 12th, 2015|Categories: Budget, Finance, Real Estate|

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 [...]

Bank Vs. Mono-Line Lenders

By |2020-11-10T17:36:18-08:00November 25th, 2015|Categories: Finance|

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 [...]

Finally! CMHC rental income makes it easier for middle class community to own a house.

By |2020-11-10T17:36:18-08:00August 6th, 2015|Categories: Budget, Finance, Real Estate|

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 [...]

Bank of Mom and Dad Expected to Fund Nearly Half of Upsizers and First Time Home Buyers

By |2020-11-10T17:36:18-08:00April 27th, 2015|Categories: Budget, Finance, Real Estate|

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 [...]

Quick tips and answers about RESPs

By |2020-11-10T17:36:19-08:00December 5th, 2014|Categories: Finance|

(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 [...]

17 per cent of first-time homebuyers’ down payment comes from family

By |2020-11-10T17:36:19-08:00November 27th, 2014|Categories: Budget, Finance, Real Estate|

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 [...]

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