down payment

down payment

How to Get a Mortgage With Bad Credit

You had a few financial setbacks when life’s speed bumps tripped you up, but now you’re on the right path and are ready to take the leap into home ownership. The only problem is: you’re not sure if your pesky credit history is going to prevent a lender from giving you a mortgage loan. The [...]

By |2014-02-19T02:35:23+00:00February 19th, 2014|Credit Bureau|0 Comments

New Immigrants – Buying your first home.

GETTING PRE-APPROVED BEFORE SHOPPING It’s a good idea to sit down with your mortgage broker/ specialist to discuss your needs and get mortgage pre-approval.  Pre-approval means that your lender commits to giving you a mortgage up to a specified amount, at certain terms and conditions, including the interest rate. This commitment will be valid for a [...]

By |2017-01-04T01:02:18+00:00February 10th, 2014|Uncategorized|0 Comments

CMHC Mortgage default Insurance

No one wants to inflate a housing bubble by encouraging folks who can’t afford the debt to buy. But many creditworthy first-time homebuyers are paying much more than they should have to for a significant portion of their housing purchase. When it comes to mortgage default insurance, Canadians get little choice and sky high prices, [...]

By |2017-01-04T01:02:18+00:00November 25th, 2013|Economy|0 Comments

BUYING YOUR FIRST HOME; Mortgage Default Insurance

Mortgage default insurance Mortgage default insurance (sometimes called mortgage loan insurance) protects the mortgage lender in case you are not able to make your mortgage payments. It does not protect you. You must pay for mortgage default insurance if your down payment is less than 20% of the purchase price of your home. This is [...]

By |2017-01-04T01:02:25+00:00June 14th, 2013|Mortgage Tips|0 Comments

BUYING YOUR FIRST HOME; New Home Buyer Plan

Home Buyers' Plan                                                                             The Home Buyers' Plan (HBP) allows you to withdraw money from your Registered Retirement Savings Plan (RRSP) tax-free to use for a down payment. You must meet certain conditions to be eligible for the HBP. For more information, contact the Canada Revenue Agency (CRA). How much can you withdraw? You can withdraw [...]

By |2017-01-04T01:02:26+00:00June 13th, 2013|Mortgage Tips|0 Comments