Is A Cash Back Mortgage A Good Deal?

If you are a home buyer with less than 5% in cash for a down payment you may want to consider some other options.  Is a cash back mortgage a good deal? There are some financial institutions offering cash back towards your down payment as incentive for a home buyers business.  At first glance the […]

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Documents to keep at tax time

With tax returns due for filing in April just a friendly reminder on the documents to keep at tax time.  Delays on approval for mortgage applications in most cases occur for the same reason, lack of documents for mortgage approval. For those who are paid hourly or with fluctuating hours each pay period or on […]

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CMHC Will Increase Mortgage Loan Insurance Premiums

Following the annual review of its insurance products and capital requirements, CMHC will increase mortgage loan insurance premiums for homeowner and 1 – 4 unit rental properties effective May 1, 2014. The increase applies to mortgage loan insurance premiums for owner occupied, self-employed and 1-to-4 unit rental properties, including low-ratio refinance premiums. This does not […]

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Property Transfer Tax First-Time Home Buyers’ Exemption

Effective February 19, 2014, under the Property Transfer Tax First-Time Home Buyers’ Exemption program, qualifying first-time buyers can buy a home worth up to $475,000. The previous threshold was $425,000.   The partial exemption continues and will apply to homes valued between $475,000 and $500,000. With this change, the government estimates 1,700 additional first-time buyers […]

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What do you buy a condo or a house with a suite?

So you have worked hard and saved up a down payment of $25,000.  What do you buy a condo or a house with a suite?  Sometimes the decision is an easy one while for some it may not be as obvious. If you have a specific neighborhood in mind which is high density condo living […]

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Bridge Financing

Bridge Financing or a bridge loan is a short term, temporary loan, to cover a borrower’s down payment  when closing dates between two real estate transactions don’t match. The bridge financing will be paid upon the closing of the last real estate transaction. In the event the date of the sale of a home doesn’t […]

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Interest Rate Forecast

Earlier this month, Finance Minister Jim Flaherty gave his interest rate forecast, stating Canada will face global pressure to raise interest rates in 2014, as the United States begins to step back from its policy of extraordinary economic stimulus through intervention in bond markets. For full details visit: http://www.theglobeandmail.com/report-on-business/economy/budget-surplus-could-be-bigger-than-forecast-in-2015-flaherty-tells-ctv/article16196939/ However, this week at the Bank […]

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Financial/Mortgage Check Up for 2014

Happy New Year— I wish you all the best in your health, relationships and in business.  As we move into the second week of the year we really have to get going on those goals we set for our self and one I would suggest is your financial/mortgage check up for 2014! I hope you […]

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Disputing The BC Assessment of Your Property

Over the past couple of weeks you should have received in the mail the BC Assessment for your home.  If  you disagree with any changes to the value of your house and property you have the option of disputing your BC Assessment of your property.  You must issue this dispute before January 31st each year. […]

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Buying a home with a friend

When it comes time to buy a home and you can’t buy on your own, buying a home with a friend may be an option.   With the higher costs of buying a home in the Vancouver lower mainland some buyers are looking to share the expenses and buy with a family member or friend. In […]

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