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Category Archives: First time Homebuyers
Flaherty Announces Mortgage Rule Changes!
Flaherty announces changes for the mortgage borrowers with less than 20% down Recently, Finance Minister Jim Flaherty announced changes to mortgage lending criteria that will have a direct impact on those with less than 20% down. The government says they … Continue reading
Breaking News: Government Tightens Mortgage Rules!
Department of Finance to announce tightening on mortgage rules: 1. Reducing max. amortizations to 25 yrs on high-ratios insured mortgages 2. Eliminating lending on high-ratio mortgages over $1 million 3. Reducing LTV to 80 % from 85 % on refinances … Continue reading
Property Buyers and Owners – Know Your Grants and Rebate Benefits!
One thing is constant – change! For property buyers and owners you cannot count on knowing everything based on purchases you made a few years ago. The government, lenders, and other resources such as utility companies, are always coming up … Continue reading
Residential Market Update
With historic low interest rates being enjoyed by all, the market watches each Bank of Canada announcement for clues to when the inevitable will happen. Rising interest rates are not “if” it will happen, but “when.” Although some pundits believe … Continue reading
First Time Home Buyers Tax Credit & More!
Tax time means reporting every possible tax credit so you can save money! Direct from Canada Revenue Agency website, here is the ruling regarding Line 369, Home Buyer’s amount: You can claim an amount of $5,000 for the purchase of a … Continue reading
$10,000 Bonus for New Home Buyers!
BC proposed budget announcement includes a bonus for First time Home buyers! This is another program to facilitate consumers ability to buy a home in BC. This will be especially helpful for those wanting to purchase a brand new home … Continue reading
Shopping for a Home – Phase One
One of the most frustrating things for first time homebuyers is the unexpected costs, especially if you are not aware of them and you do not budget for them. Many fees and costs are associated with a purchase of a … Continue reading
Mortgages, Dollars & Sense 
Market Commentary – Residential Market Update
The first full month since Ottawa tightened mortgage rules is in the books. While it’s still early on, the move appears to be having an effect. But is it the desired effect? The August numbers show a 6% drop in … Continue reading →