Are you a new immigrant to Canada who came here with hopes of a better life? or a self employed hard working entrepreneur? either way you may be unable to secure a mortgage and buy the home of your dream
Being a self-employed individual has several advantages, the largest being the ability to write off a large portion of your income against expenses
There is a little known program that you could be taking advantage of that can increase the chances finding a home in this market where bidding wars are the norm and you don’t have the money to buy a “fixer upper”.
When selecting a mortgage advisor, you want to make sure that you ask them some basic questions before you decide to work with them. I would always recommend that you ask your mortgage provider at least these 10 questions that will help set your mind at ease.
Official documents state that “CIBC applied terms and conditions to certain mortgage contracts to allow it unfettered discretion for calculation of mortgage prepayment penalties. It if further alleged that the quantification of prepayment penalties applied by CIBC are in breach of the mortgage contracts.”
If you’re looking to purchase a commercial property, there are stand out differences from a residential purchase to be aware of.
With interest rates so low, many Canadians are entering the housing market earlier than ever before. CMHC (Canada Mortgage & Housing Corporation) is actively insuring home buyers with as little as 5% down payment. How are Canadians entering into home ownership with less than 20% down payment?
Knowing how much a home costs combined with one’s lifestyle costs gives financial power to setup a budget. A budget puts money into focus, curbs overspending, and enables a person to pay down debt, save & grow net worth.
To finance a revovation project you may decide to use personal savings, lines of credit or credit cards. Should you not have savings to utilize, be wary of putting your renovation costs on high interest accounts.
Thinking or purchasing your first home? It’s an exciting time, and requires research. The first thing to consider is how much of a down payment you will be making.
Explore 
Buy 
The Pulse
Community