A lot of people get into hot water when they assume that because they’ve qualified for a mortgage in the past, they will qualify for a mortgage in the future. This article has one point to make and it’s this: Don’t assume anything when dealing with mortgage financing! And if that’s all you take away, […]
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Property Tax Time 2017
For those of us that pay our property taxes this information is for you. You should’ve received your property tax notice in the mail by now, or this week. You, assuming the property is your principal residence, will want to claim your home owners grant. Column B for most and some Column C You will […]
What The Latest CMHC Increases Have Done
CMHC increased the default insurance premiums on Canadian borrowers as of March 17, 2017. Effectively, anyone purchasing a home with less than 20% down will fork over up to 1.00%-point more in fees. If you’re down payment is: As an example, if you’re putting down 5% and paying $500,000 for a home (which is below average, believe it or not), […]
5 Common Mistakes To Avoid When Shopping For A Mortgage
Avoid these 5 common mistakes, and you will have no problem getting your mortgage faster, more efficiently, and with a clear understanding of the process: 1. Thinking banks are the first and best place to go for a mortgage Mortgage brokers can often beat the bank rates by using different lending institutions. The bank is […]
CMHC Increases Premiums 2017
CMHC announced early Tuesday it is increasing its loan insurance premiums effective March 17. “We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” said Steven Mennill, Senior Vice-President, Insurance. “Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute […]