New CMHC Down Payment Rules Now in Effect
New federal mortgage rules are now officially in effect, but most market watchers don’t expect to see much change. Just to recap: Ottawa has boosted the minimum down payment on insured mortgages valued at $500,000 to $999,000. In order to get mortgage insurance...Thinking About Buying Your First Home? Consider These Questions
If you are considering buying your first home, an exciting step no matter where you are in life. From a university graduate, to a newly married couple, to someone who is later on in life and ready to root down somewhere, buying your first home is exciting, but at the...New Immigrant Mortgages
The New To Canada(TM) Mortgage Insurance Program makes it possible for individuals relocating to Canada to purchase a home with as little as 5% down. This program helps new Canadians purchase their first home, build equity, and become economically established in Canada.
Using your RRSP for a Down Payment
If you”re a first-time buyer with a home purchase in your near future, you might want to consider taking advantage of the Federal government”s Home Buyers” Plan (HBP). In a nutshell, the HBP allows each buyer (provided they”re both...Not all Variable Rates are the Same!
Choosing the mortgage that's right for you involves a little bit more than merely deciding whether you're a fixed or variable type of person – particularly if you opt for a variable rate mortgage.<br><br>
It's not enough to choose a variable rate mortgage based solely on rate – you also have to consider what type of variable rate you'd prefer. Below is a breakdown of the most common types:
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