Purchasing a home, working hard and fast on some marketable renovations, and then re-selling the property can add up to some tidy profits if done quickly and correctly. If you're interested but don't have the funds to purchase a property outright in cash, read on for what you need to know when financing a flip!
RRSP TIME – 3 Things That Are Really Handy To Know
Regardless of whether you find this topic fascinating or dull, knowing your options when it comes to Registered Retirement Savings Plan (RRSP) can really be quite helpful!
DID YOU KNOW??? 10 RANDOM THINGS ABOUT MORTGAGES
6 Interesting Facts About Mortgages to Consider & 4 Random, Fun Facts
RUMOURS & PREDICTIONS
So we see things on the news, hear them again on the radio, then (sometimes) learn another version of it all from friends, family, or random blog posts. Here's a summary of what's really going on.
STRESS TEST TIGHTENING AGAIN
By now you must have heard about the mortgage qualifying "Stress Test". The Stress Test was implemented to protect you so that if rates substantially increase during your term, come renewal time, even with the higher rate, you should still be able to afford your mortgage payments. Basically...
PRIME’S MOVED UP AGAIN…
What to expect with the Bank of Canada's 2nd increase of their Overnight Rate this year... This change affects variable interest rate mortgages and any credit facilities that are tied to Prime (such as credit cards, lines of credits, and loans).
Is NOW “The Time” To Lock Your Variable Rate Into a Fixed Rate Mortgage??
Interest rates are on the rise. What's happening? If you have a variable rate, should you consider locking in? What is you already have a fixed rate? What if you're still house-hunting?
ONTO THE NEW BEFORE MOVING OUT OF THE OLD
So you've found a new home but move in before you receive the sale proceeds from your current home? Not a problem if you don't need to use the sales proceeds for your down payment but what if you do? Read on to see if Bridge Financing is an option for you!
CMHC Fees Are Increasing – When, How Much, & Everything Else You Need To Know
Mortgage Default Insurance premiums are going up! Everything you need to know that will affect applications submitted ON or AFTER March 17, 2017.