Everything You Need to Know About Your Credit Report: The Key to Your Financial Health
Credit reports and credit scores play a crucial role in managing your personal finances. Whether you're about to apply for a loan or simply want to better manage your financial situation, it's...
Title Insurance - Helpful guide AMF
A title deed is an official document that proves that you are the owner of property such as a house, condo, chalet or land. Title insurance protects you against losses caused by problems related to...
Make sure you are ready to sign at the notary.
Recently, you've invested time engaging with various key players in the acquisition of your future home: the seller, the real estate agent, the mortgage broker, the inspector, the banker... Since...
Did you know about the 9% tax?
Did you know that a 9% tax applies to most insurance premiums in Quebec? In Quebec, it's essential to consider the 9% tax when purchasing a home and the mortgage insurance associated with...
CHMC: WHAT IS IT, ANYWAY?
You want to buy a house, but don’t have the required 20% down payment. This is when you are offered the CMHC loan insurance. But what is the CMHC? Why do we offer this insurance? Is...
Optimizing Your Assets: The Benefits of Mortgage Refinancing"
Mortgage refinancing sometimes gets a bad rap, often likened to recklessly tapping into one's home equity as though it were an ATM. However, this viewpoint only paints a partial picture. Beyond the...
Simulation of expenses related to the purchase of a $400,000 property
For those looking to find out the costs related to buying a property, here is an example: Scenario: $400,000 home with a 5% down payment Standard rate: 95% financing: 4.00% 90%...
Is it smart to use part of my RRSP’s to pay down debts so I can become a homeowner?
Marie-Pierre decided to buy a nice home in the suburbs. However, when she applied for a loan with her financial institution, she was refused. They explained to her that she was...
Should I take out title insurance or not?
As you might expect, buying a home is one of the biggest financial commitments you will make in your life. And buying a home often involves title insurance. This type of insurance can protect you as...
Taking advantage of the CMHC portability option
Anna and Jeff own a condo. However, with their third child on the way, they need to buy a larger home. Can they take advantage of the Canada Mortgage and Housing Corporation (CMHC) portability...
When back to school expenses and your summer vacation leave you strapped for cash.
Your summer vacation was great, but your budget took a hit; back to school brings its own new expenses, and you have been carrying some credit card debt for far too long. Clearly, the passing time...
A mortgage for self-employed : Can it be possible?
Well yes, it is possible! Qualifying income is the only difference in qualifying for a mortgage between a salaried individual and a self-employed individual . For each situation here is the...
Why is there is an additional $684 in my notary’s fees?
OMG! There is an additional $1 026.00 in my notary’s fees. Vanessa recently signed the deed of sale on her townhouse at the notary and has just received her bill. She discovers the amount of...
Incentive programs and measures available for the purchase of a property
Are you considering buying a house or a condo? Are you wondering if there are incentive programs and measures available and tailored to your financial situation? The first thing to do is to reach out...
The steps to property ownership in 2018.
It’s easy! You start by securing a pre-approved mortgage from an expert in the field such as a mortgage broker. Your mortgage broker will not only become your partner in this important...
CMHC mortgage insurance premiums have been increased.
January 17th, 2017, the CMHC announced an increase in their mortgage insurance premium rates as of March 17th 1st of this year. This means that if you submit your insured financing to your...
Save $2,000 with a $500 investment.
Did you know that making a 10% down payment instead of 5% saves you 0.75% on your CMHC (Genworth or Canada Guaranty) premium? So be mindful of how much you put down on the purchase of your...
Consider a 10-year term for your mortgage if you are worried about future interest rate increases.
Economic experts will tell you that, aside from 2 or 3 exceptions over the last 25 years, it has always been wise to take out a 1-year term or a variable mortgage. That being said, rates are...
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