It is that time of year when you will soon receive your property assessment in the mail or you can view it online at www.bcassessment.ca. I am often asked how the property assessment is calculated as people wonder why the value is less than what they think they could sell their home for. The BC […]

As a first time home buyer in Canada you have the opportunity to buy your first home using your registered retirement savings plan (RRSP)  under the first time home buyers plan.  There are some very specific guidelines for this program that first time home buyers should be clear about before buying a home. The first […]

With the high cost of buying real estate in the lower mainland of BC what is the best approach in helping your children buy their first home.  One of the first questions may be “Should I help my kids buy their first home?” A recent article in the Financial Post looks at how you may […]

When talking to your mortgage broker ask about how to get best rates before your closing date. Each lender policy may differ and it is important to know what you can expect so you don’t get caught short. When you are approved for your mortgage at a specific rate if the rates drop before your […]

So you’ve graduated from high school and off to university or college.  Before you start, take the time to set down some goals and a budget for your financial future as a post secondary student. Your parents have probably been telling you to put aside some money from your part time job into savings.  However, […]

I remember the first time I learned about how compound interest can work for you.  I was introduced by a friend to someone in the financial services industry and he explained a simple technique to easily calculate how compound interest can work for you – the Rule of 72.  I was so excited and started […]

With an increase in fraud, lending institutions are getting strict on documentation for mortgage approval. As part of the mortgage approval process your mortgage broker will ask for documents to show proof of your income, down payment and possibly other items such as proof of permanent residency and other identification.  Since most of that paperwork […]

Buying a second home or a vacation property requires special consideration when trying to access mortgage financing. First you need to understand the difference between the two types of properties. A second home is purchased for families wanting a home in or outside the city to avoid long commutes for work or as a home […]

One of the most common questions I get from first time home buyers is how to pay property taxes. Property taxes are payable the first week of July every year to each municipality. This may vary by city so always check the city website to confirm. For example taxes in Vancouver are payable twice each […]

Courtesy of  Canada Mortgage and Housing Corporation (CMHC) Canada Mortgage and Housing Corporation (CMHC) announced today two additional changes as it has completed the review of its homeowner and multi-unit mortgage loan insurance business. These are:   CMHC mortgage loan insurance for the financing of multi-unit condominium construction will be discontinued effective immediately. CMHC’s mortgage […]