News, Tips & Advice

Fixed vs. Variable Rate

The following are some things you will want to consider when evaluating your options between fixed and variable rate mortgage products.   Can you afford to take a variable rate mortgage? There is some risk associated with a variable rate mortgage; you need to assess your ability to...

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Line of Credit

A Home Equity Line of Credit (HELOC) provides instantly available funds that can be spent any way you like (RESP or RRSP contributions, renovations, vacation, cottage, investment properties etc.). The HELOC is secured against your property, so the interest rate is much lower than an unsecured...

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RRSP Homebuyers’ Plan

Tax savings aren’t the only reason to invest in an RRSP. With the Federal government’s Home Buyers’ Plan (HBP), first-time homebuyers have the opportunity to put that tax-free cash towards a new home.Each individual involved in the purchase of the home may withdraw a maximum of...

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Time for Renewal?

Don’t sign that mortgage offer from your existing bank! Studies show that over 70% of Canadians will renew their mortgage with their existing lending institution without negotiating rate or terms. This is not the wisest strategy as they could be missing out on HUGE savings.   It...

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Purchase Plus Improvement

If you have your eye on a fixer-upper, or are thinking about building your dream home, financing your endeavours may be easier than you think.   “Renovation Mortgages” allow homeowners to renovate a newly-purchased or refinanced home, or build a new one, and roll the cost of...

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Debt Consolidation

Need help with debt consolidation? We all have times when it seems there is too much month left at the end of our pay cheque. Credit cards, car loans, taxes, etc, etc. All of these add up quickly, and before we know it, we can find...

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Refinancing your Home

ABOUT REFINANCING Are you looking to save money? Perhaps you’d like to take advantage of lower rates, or maybe borrow some money for investments, top up your RRSP contribution, help children for University/College expenses, or for debt management.   Using your home’s equity could be one of the...

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Fast Track to Mortgage Free

Did you know that a mere $30 extra with each of your monthly mortgage payments could save you about $11,000 over the life of your mortgage? When you add it up that’s roughly what you spend for your medium double double everyday. With good planning...

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Planning a Move

If you are moving down the road, across town or across the country, it can prove to be a challenging time. A well organized and planned move can greatly reduce the stress and contribute to a wonderful way to start life in your new home....

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Documents Needed

Sometimes documents can be very specific to your application. This is a guide below based on your job status, down payment requirement and other possible paperwork that may be requested.   INCOME   If you are Employed: 1. Employment letter and most recent pay stub: Letters should state how long you...

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