Sometimes a parent decides to buy a place for their children while they hit the books in university or college. It can be a good alternative to paying thousands of dollars toward residence fees or rent. Just look at the math: Student rent of $500 a month = $6,000 a year = $24,000 over 4 […]

For US homeowners, mortgage interest is automatically tax deductible. But for Canadians, the write-off is not so straightforward. In order to make your mortgage interest tax deductible, homeowners must be able to prove that the money is being reinvested and is not being used for personal expenses.   A properly structured mortgage-centric tax strategy has […]

  2011-03-01 | 09:32:18 You want to refinance your mortgage but the government will ban insured refinances over 85% loan-to-value (LTV) and amortizations greater than 30 years on March 18, 2011. Your concern is that your mortgage amortization was originally over 30, 35 or up to 40 years and you don’t want to change the […]

As of March 18th, 2011 there will be new mortgage regulation changes. See below the article from the Globe and Mail. http://www.theglobeandmail.com/report-on-business/economy/housing/flaherty-details-new-mortgage-rules/article1872599/page2/     Concern over rising consumer debt levels is prompting Ottawa to make three new changes to Canada’s mortgage rules. Finance Minister Jim Flaherty announced Monday that new federal rules will reduce the […]

Homebuyers_Guide_-_December_2010.pdf

Home Buying Basics What and how much do you need to save?      Down payment –the minimum down payment typically required is 5% of what the purchase price of the home may be.      For example; A $150,000 house would need a down payment of $7,500. A $250,000 house would need a down […]

If you’re thinking of purchasing or refinancing your home, now may be one of the best times in history. The historically low interest rates are helping first time buyer’s qualify for larger home purchases than they would normally qualify for. With such a great opportunity on the horizon, it’s not surprising that a record number […]