Downsizing: Upgrading: Buy a Family Cottage: Assist Children with Home Purchase:
General Information
Down Payment Government Assistance
On Dec 15, 2016 the BC Government announced the launch of their ‘Homeowner Mortgage and Equity Partnership Program’ to assist first time home buyers who are residents of BC (as well as either citizens or permanent residents of Canada for at least five years). While many are heralding this as a good news story, others […]
New Program to Help First-Time Homebuyers
In a move to help BC citizens and residents buy their first home, the BC government announced today that it is launching a new program to augment down payments for first-time buyers. The B.C. Home Owner Mortgage and Equity Partnership program contributes to the amount first-time homebuyers have already saved for their down payment, providing […]
Accelerated Bi-Weekly vs Non
When signing your mortgage commitment letter you will have to choose your payment frequency. If your goal is to re-pay your mortgage as quickly as possible, then you need to understand how different payment options will affect your repayment schedule. So what are your options? In general, most lenders will offer the borrower the option […]
Tax Changes to The Principal Residence Exemption
Very good information from an accountant friend of mine Jimmy Le-Tang You may or may not have heard about recent tax changes regarding the principal residence exemption available on the sale of a taxpayer’s principal residence. The recent changes are significant and I would consider them to be a TAX TRAP because the new rules […]