FTHBI Tools

First-Time Home Buyer Incentive Tools

What is the FTHBI? The First-Time Home Buyer Incentive (FTHBI) is a program that’s sponsored by the Government of Canada. It allows first-time home buyers to finance a portion of a home purchase through a shared equity mortgage. If a first-time home buyer meets the criteria, they can apply for a 5% shared equity mortgage […]

Lower Your Mortgage Payment

Mortgage Payment

๐Œ๐”๐’๐“-๐‘๐„๐€๐ƒ ๐ข๐Ÿ ๐ฒ๐จ๐ฎ๐ซ ๐ฆ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐ซ๐š๐ญ๐ž ๐ข๐ฌ ๐ก๐ข๐ ๐ก๐ž๐ซ ๐ญ๐ก๐š๐ง ๐Ÿ‘%. What if breaking your current mortgage will save you money (๐˜ข ๐˜ญ๐˜ฐ๐˜ต ๐˜ฐ๐˜ง ๐˜ฎ๐˜ฐ๐˜ฏ๐˜ฆ๐˜บ)? Even when you include the pre-payment penalty. When interest rates fall, breaking your existing mortgage and renegotiating a new one at a lower interest rate can save you thousands of dollars. ๐‡๐ž๐ซ๐ž’๐ฌ […]

Why is Budgeting Important?

How to Budget

What are you budgeting for, a family vacation, a bigger home or maybe a shiny new car? In this day and age, “things” are becoming easier to purchase and have. From pens to furniture, we can go shopping and find just about whatever we need (or want!) It used to be you had cash in […]

If Mortgages Were Cars

If Mortgages Were Cars

If mortgages were cars… …imagine you were shopping for a new car, instead of a new mortgage. The shiny Caymans are at the Porsche dealership. All the new Mustangs parked at the Ford dealership (consider these the banks!) You’re excited to buy a shinyย newย ride. So you drive around to different dealerships to see what they […]

No-Frills Mortgage Products

No-Frills Mortgages

No-Frills mortgage products typically offer a lower interest rate when compared to full-feature mortgage products. The lower rate is really the only perk. Here’re some drawbacks to a no-frills mortgage product. Potential Lack of Portability No-Frills products may not let you take your mortgage with you if you purchase another property before your mortgage term […]

Shared Equity Mortgage Pros and Cons

Shared Equity Mortgage

The First-Time Home Buyer Incentive will be ready to receive applications on September 2, 2019 (barring any unforeseen circumstances). The first closing will take effect on November 1, 2019. If you are considering using this program, make sure you learn the pros and cons that come with the shared equity mortgage. PROS OF FIRST-TIME HOME […]

First-Time Home Buyer Incentive

First-Time Home Buyers Incentive

The First-Time Home Buyer Incentive allows first-time home buyers (FTHB) to reduce their monthly mortgage payment through a shared equity mortgage. A shared equity mortgage is where the government shares in the upside and downside of the property value. The incentive is an interest-free loan that does not require ongoing repayments. Buyers must repay it […]

Investing in Suited Properties

Benefits of Income Suite

By: Brian Banks โ€“ FreedomVest Properties Investors see good value in suited properties. The three big profit centres are positive monthly cash-flow, paying down your mortgageโ€™s principal and value appreciation over time. These all contribute to your overall return on investment (ROI). Learn more about adding a suited property to your investment portfolio. Freedom from […]

GDS and TDS Calculations

Total Debt Service

Learn how mortgage lenders calculate your debt service ratios, GDS and TDS. You need to know these two basic calculations so you can crunch the numbers to find out what your budget and affordability is. Gross Debt Service (GDS) Lending guidelines allow you to use up to 32% of your gross monthly income towards housing […]

Legal Basement Suite Benefits

Benefits of Income Suite

By: Brian Banks โ€“ FreedomVest Properties Owning a property with a secondary income suite can be very powerful and catapult your financial future. It doesnโ€™t matter if itโ€™s a newly built home with a garden suite or you convert the downstairs of an older bungalow into a basement suite; the benefits can be exponential. Here […]

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ContactRodney Biggar
Licensed Mortgage Associate
 
Phone (780) 960-5897
Fax (780) 960-5898
info@theBIGGARteam.ca
Hillside Centre
#204 636 King St.
Spruce Grove, AB
T7X 4K5

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