To few people’s surprise, the Bank of Canada is opting to maintain the target for the overnight rate at 1.75%–but the future of interest rates is much less clear. While the Bank projected a temporary slowdown at the end of 2018 and into 2019, the slowdown has been much more pronounced than anticipated. According to the […]

1st-time homebuyer’s Tax Credit If you purchase a home in 2018 don’t forget to apply for the $5,000 tax credit. This could result in up to $750 in cash back in your pocket. In order to qualify, you must have purchased a home in 2018. It must be registered in your name or your spouse’s. […]

First Time Home Buyers can obtain an RRSP loan up to $25,000 to be used for down payment on the purchase of a home and withdraw it Tax-Free! How does it work? We can assist clients with setting up an RRSP loan. The borrowed funds are placed into an RRSP account and can be withdrawn […]

  The recent data sure has changed the tone of rates in the coming months. The prime rate – what variable rates are based on, while a few short weeks ago was expected to rise three times in the next 18 months now with the data on the slowing of the market and uncertainty in […]

A few years ago, I met with my Home Equity Bank representative. He was trying to encourage me to go visit my financial adviser referral partners to offer the Chip Reverse Mortgage product. I explained that I did not know anyone who had a reverse mortgage so it was hard to promote to financial advisers […]

Many people are having trouble getting the mortgage they want these days. Working with a Licensed Mortgage Advisor offers you not only access to a variety of products but also a variety of experience-based solutions. Here are a couple strategies we have used to get home buyers qualified, who have had difficulty elsewhere: CREATE THEIR […]

A Guarantor, when it comes to mortgages, is exactly what it sounds like—they “Guarantee” the mortgage for another person if they are unable to pay back the loan. Guarantor’s or co-signers are often used if someone has: • Damaged or poor credit • Insufficient income In most cases, someone with poor credit and/or insufficient income […]

  Why you should consider buying now and getting ahead of the market correction: Rates are going up. Fast. Why? 5 year fixed rates are up about 1.25% since last year this time. The Federal Government. They have taken steps in an attempt to regulate our housing market in the last few years. Toronto and Vancouver […]

Think of your credit score as a report card on how you’ve handled your finances in the past. A credit score is a number that lenders use to determine the risk of lending money to a given borrower. There is always someone willing to lend you money, however, higher risk = higher rates! Step 1 […]