A husbands’ passing, leaving a very emotional and financial instability and amounted financial debts for the elderly wife to settle and continue with her full of needs life, including visits to the doctor, a periodic medications to consume, a simple yet nutrient diet and a family life that comes along with its own joys and…
Your credit Your credit is a factor with a big influence when trying to obtain a mortgage loan learn an easy form to keep it safe All your activities made through your lines of credit like credit cards, telephone companies, bank loans, students loans and specially mortgage loans, are registered in your very personal file…
The Federal Government incentive is designed to help those qualifying first time home buyers to reduce their monthly mortgage carrying costs without adding to their financial payments. The “Shared Equity Mortgage” is home buying incentive available from September 2, 2019, for home purchases with a closing date not earlier than November 2, 2019. This limited…
Can I purchase a condo using my RRSPs? The question was asked by one of my clients, he had saved already over 25,000 dollars and with a good job. It may look simple, or it may look difficult for anyone to get his question answered with only that information, but the question was valid and…
How to refinance credit cards? Most credit cards grant credit without having an estate as collateral, then, the risk offered by the borrower is high, as a consequence the interest rates are high too. Equity lines of credit require an estate as collateral, then the risk offered by the borrower is low, as a consequence…
We are experiencing a different home market than others that we have had in the past, many factors influence our capacity to become home-owners. If you or someone you know are a person that is thinking about becoming a home-owner this article may be a great channel to seize the opportunities ahead of us or…
Are you an UBER driver? This is very important for you! Are you not but you happen to know someone who is? Whisper this to him/her. Being UBER a fairly new company, some people are not aware of how they can use the proceeds of their work as UBER driver as a qualifying income to help…
[metaslider id=”54845″] The cost of living in Toronto has gone up and the housing sector is one of the main factors. Is no news now that the prices of residential properties are very high, so it has been hard for many families to be able to purchase a new home, whether the income is not…
[metaslider id=54395] Throughout the year 2018, some topics like “Mortgage rates” and “Home Prices” kept dominating the headlines on our newspapers and media making some of my clients postpone entertaining their home purchase idea, however, a higher number of my clients seized the opportunity of the still low mortgage rates and either got a second mortgage, seeking…
The Niagara Region Affordable Home Ownership Program offers eligible renters a 5% down payment assistance loan to help make buying a home in this fast‑growing, peaceful region more achievable. With home prices significantly lower than in the Greater Toronto Area, Niagara provides a practical opportunity for families looking to relocate and build stability in a scenic, welcoming community. Qualified buyers can receive up to $21,537.85 toward the purchase of an approved home, making it easier to transition from renting to owning. Learn how to qualify and take the first step toward homeownership in the Niagara Region.
Stress test mortgage qualifying rate The office of the Superintendent of Financial Institutions Canada has introduced a new Stress test mortgage qualifying rate coming to effect on January 1, 2018. “Quote: (http://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/B20_dft_nr.aspx) OSFI is setting a new minimum qualifying rate, or “stress test,” for uninsured mortgages. Guideline B-20 now requires the minimum qualifying rate for uninsured…
The following is a smart edition prepared by CHMC and the Government of Canada and distributed to help advise our Mortgage Edge clients about the importance of managing a mortgage. We all receive advice on how to manage our homes, our business, our time, and now you can learn about how to manage your mortgage…
In the past couple of weeks since the Bank of Canada publicly increased the interest rate to 0.75% from 0.50%, we have been notified of by our numerous lenders that their mortgage rates are going up “despasito”, (slowly). The increase have affected immediately to those borrowers who had a variable rate mortgage, and then to…
Bank of Canada raises interest rate to 0.75% from 0.5% This increase is applied directly to the overnight key lending rate. This means that the Bank of Canada feels that our economy is strong. Strong economic trade and a bit higher inflation are expected throughout the country, so the Bank of Canada finds the need…
Life insurance is now available online here for your convenience. Getting online what you need is very comfortable and allows us to save time and money. Using your mobile device, tablet or desktop is perfectly okay as long as you find them comfortable. Term life insurance is a financial instrument that pays a previously determined amount,…
Higher home prices & higher interest rates What people looking to be homebuyers can expect from the current home market headlines in the mass media? Now that higher home prices & higher interest rates (slightly) than last year’s are becoming rout news, and while the Bank of Canada has kept interest rates with no changes (for now), some people…
Ontario Land Transfer Tax is charged to the home-buyer and applies whenever a land or an interest in land in Ontario is purchased, The applicant buyer pays the Ontario’s land transfer tax at the time of purchase, the term “land” includes any buildings, buildings to be constructed, and fixtures (such as light fixtures, built-in appliances, and cabinetry)….
Spousal Buyout Mortgage is for those that are legally married, own a home and in the process of divorce one of the spouses prefer to keep the property and needs to “buy out” the departing spouse. According to CBC in it’s October 4th article, 4 in 10 first marriages end in divorce A divorce experience may be…
I’m excited to share a video, featuring Kurt Browning and his sons with you. In this video, Kurt talks about the features of a CHIP Reverse Mortgage and how it can help you stay in the home you love. This video will be a great way to learn more and it also has Kurt doing a…
On October 3rd, 2016 Bill Morneau, Minister of Finance announced “Preventative measures for healthy, competitive and stable housing market”. The intention is to address the growing household debt and rapidly rising house prices. Learn about the new qualifying federal mortgage rules changes that will affect your mortgage affordability during the qualification process and what can you do…
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