Your Credit scores are like report cards for grown‐ups. The score you get ranges from 300 to 900. Your score indicates your creditworthiness to potential lenders, banks, landlords, insurance companies, and even to some employers. The higher your score the better. 1. GET A COPY OF YOUR CREDIT REPORT Make an inquiry once a year, […]

Congratulations you have made it through one of the toughest financial times in your life. It feels good to have this under control and know there is a light at the end of the tunnel. There is no shame in going through either a consumer proposal or bankruptcy. Life throws wrenches into our well laid […]

Congratulations you have made it through one of the toughest financial times in your life. It feels good to have this under control and know there is a light at the end of the tunnel. There is no shame in going through either a consumer proposal or bankruptcy. Life throws wrenches into our well laid […]

It is well known that when you are a First Time Home Buyer you can use up to $25,000 from your RRSP without paying any personal taxes. However, you will have to repay any amount withdrawn from your RRSP for down payment of a home purchase. Who is a First Time Home Buyer? Normally, you […]

It is well known that when you are a First Time Home Buyer you can use up to $25,000 from your RRSP without paying any personal taxes. However, you will have to repay any amount withdrawn from your RRSP for down payment of a home purchase. Who is a First Time Home Buyer? Normally, you […]

I am sure everyone has heard about the new mortgage rules coming into effect Oct 17th. Here is a break down: New rules are important to note if you are purchasing a new home or plan to refinance/renew your mortgage anytime soon. The Canadian Government announced new mortgage lending rules that will affect a number […]

I am sure everyone has heard about the new mortgage rules coming into effect Oct 17th. Here is a break down: New rules are important to note if you are purchasing a new home or plan to refinance/renew your mortgage anytime soon. The Canadian Government announced new mortgage lending rules that will affect a number […]

Annual Income: $50,000  Total Mortgage Loan they qualify for right now: $295,260Property Taxes: $1,500Condo Fees: $300Current interest rate: 2.39%Current Qualifying rate: 2.39%Monthly Liabilities: $0.00 (for argument sake) Now lets take the same person and apply the new rules: Annual Income: $50,000 Total Mortgage Loan they would qualify for: $235,223.80Property Taxes: $1,500Condo Fees: $300Current interest rate: 2.39%Current […]

Annual Income: $50,000  Total Mortgage Loan they qualify for right now: $295,260Property Taxes: $1,500Condo Fees: $300Current interest rate: 2.39%Current Qualifying rate: 2.39%Monthly Liabilities: $0.00 (for argument sake) Now lets take the same person and apply the new rules: Annual Income: $50,000 Total Mortgage Loan they would qualify for: $235,223.80Property Taxes: $1,500Condo Fees: $300Current interest rate: 2.39%Current […]

We have finally seen a bump up in interest rates. The 5 year government bond rate hit a low of about .60 in mid-September and is now pushing towards 1%. The lenders have reacted to this and we have seen the low rates of 2.59% on the 5 year fixed rate disappear. Some banks have […]