Some may think that a mortgage and a Visa would not be directly related. One being ‘good debt’ and the other being ‘bad debt’. However, in the banks world they mean the same thing and can come back to harm you in a great way. A collateral charge mortgage have a couple reasons why they’re […]
First Time Mortgage Tips
First Time Home Buyers Tax Credit
Introduced as part of ‘Canada’s Economic Action Plan’ to assist Canadians in purchasing their first home. It is designed to help recover closing costs such as legal expenses, inspections, and land transfer taxes so you can save more money for a down payment. The Home Buyer’s Tax Credit, at current taxation rates works out to […]
Top factors that make your credit score lower
BC Property Transfer Tax Rebate
First Time Home Buyers in BC qualify for a rebate equal to the full amount of their property transfer tax up to a maximum purchase price of $500,000To qualify for the BC First Time Buyers PTT Program, you must meet the following criteria. There is a full rebate of the property transfer tax amount up […]
First Time (Repeat) Buyers – 5% Down Program
Every buyer of a principal residence, no matter if you’re a first time buyer or have bought ten times prior, is eligible for the 5% down program. When buyers between 5% and up to 20% down, the mortgage must be insured by one of Canada’s 3 mortgage insurers (CMHC, Genworth & Canada Guaranty). -The maximum […]