Two main advantages for buying a home as a first time buyer. -Exemption from the Property Transfer Tax as long as the purchase is under $425,000. Anything from $450,000 or higher you must pay the full amount. Between $425,000 and $450,000. The amount payable on a new home purchase is 1% on the first $200,000 […]
New Home Buyers
Interest Penalties
Interest penalties between a big bank and a mortgage only lender. There is a huge difference as the calculations are much different. Remember, it’s not always about rate. That number you see is not the deciding factor. It should be what’s behind that rate and what commitment your broker will give you to manage your […]
Why it’s SO important to talk to a Mortgage Professional
In the last couple weeks I have begun to feel really bad for a couple of my trusted realtor partners. They have had clients whom have gone to their bank for financing and have been given the green light to go out shopping. Well, in these few cases all of them were unable to purchase. […]
BC First Time, New Home Buyers Bonus
BC First-Time New Home Buyers’ Bonus – a one-time payment worth up to $10,000 for BC residents who are first-time home buyers and who purchase an eligible new home.BC Resident – if you file a 2011 BC resident personal income tax return, or if you move to BC after Dec. 31, 2011, or you file […]
It pays to check the fine print on low-rate mortgage offerings
Here’s an article I read that makes a lot of sense. It was a top news story last week. One of the major banks offered the lowest five-year fixed interest rate in Canadian history at 2.99 per cent. As a licensed mortgage agent, I had to quickly attain as much information as I could on […]