Your dream home isn’t always within reach when it comes to buying a house for the first time. This can lead many first-time homebuyers wanting to wait and hold off for another year before going forward and making an offer on a place. But will you be chasing a dream forever?   Should you wait […]

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Owning a home is considered to be a rite of passage for many Canadians. It symbolizes independence. You set the rules, make the decisions, take financial responsibility and invest in your future.   Renting doesn’t give you much control over the property. You are under the landlord’s mercy when it comes to following rules written […]

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Saving a down payment to buy a home can be the biggest challenge first-time home buyers’ face. In Canada, the minimum down payment is five percent of a home’s purchase price that is under $500,000. If the home’s purchase price is over $500,000, the requirement is five percent on the first $500,000 and ten percent […]

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Once you’ve applied for a mortgage pre-approval, don’t make any major changes or significant purchases without speaking to your mortgage specialist first. Your mortgage pre-approval is based on your current job, credit, savings, and expenses. Changing any one of these factors could affect or even void a mortgage pre-approval.   Are you thinking of buying […]

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There are many options when choosing a mortgage payment. The best payment choice depends on an individual’s preference and financial goals. Payment frequency and payment acceleration are the two main factors you need to consider. Here is some information to help determine the best mortgage payment type for you.   Mortgage payments are made weekly, bi-weekly, […]

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Buying a home can be the single biggest financial transaction some people will make. It’s exciting and fulfilling, but it can also be overwhelming at times. Hiring professionals to make the home buying journey go as smoothly as possible is a smart idea. You do not buy a home every day, so why not rely […]

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Saving for a down payment is a challenge for many first-time home buyers. It can be the only hurdle standing in the way of homeownership. The Government of Canada acknowledged the difficulty first-time home buyers were facing and established the Home Buyers’ Plan (HBP).   The Home Buyers’ Plan allows first-time home buyers, people who […]

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The new mortgage “stress test” rule is now in effect. It impacts those purchasing a home with less than a 20 percent down payment, therefore requiring default insurance. Canadians applying for a default insured mortgage are required to qualify at the Bank of Canada’s five year posted interest rate (the benchmark qualifying rate) on all […]

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