The great majority of us are in mortgage contracts that contain a prepayment privilege of some sort. “Privilege” being the key word here. Not all mortgage contracts contain such privileges, but that’s a story for another day. The mortgages that do allow prepayment privileges, usually allow at least 15% of your mortgage to be paid […]

Congratulations you have made it through one of the toughest financial times in your life. It feels good to have this under control and know there is a light at the end of the tunnel. I too have been down this road in 1998 and now I educate the RIGHT way to have a plan. […]

Saving for a down payment is often one of the biggest challenges facing young people looking to break into the real estate market.  The source of your down payment could come from your own savings, a gift from a family member, your RRSP if you’re a first time home buyer or from the proceeds of […]

Buying your first home is often the largest financial commitment you will have made and just coming up with the down payment is a difficult task for many! Then there are the legal fees, property transfer fees, disbursements and all those other costs that can really add up, creating a huge dent in your finances! […]

There are a growing number of families living in Vancouver, or moving to the region, who are choosing the option of buying a second home in the lower mainland or in one of the many great locations throughout British Columbia. When it comes to mortgage financing, there are many lender programs available at the best […]

Musician John Agius had seen the reverse mortgage advertisements on television for years before he decided to take one out against his own home in downtown Toronto. That was three years ago, when he was looking for some extra cash to pay for his mother’s funeral and to fix up her house. The costs were […]

The Home Buyers’ Plan (HBP) is a program that allows you to withdraw up to $25,000 from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability . You must be considered a first-time home buyer. You are not considered a first-time […]

3 POINTS YOU NEED TO CONSIDER In hot real estate markets, it’s common for both buyers and agents to consider having no subjects to financing when making a purchase offer. It’s important to realize, however, that no professional is in a position to legally advise you to enter into a real estate transaction with no […]

Broker: ‘Every deal is a documentation nightmare’ It seems to be the complaint of the season, as brokers continue to struggle with last minute requests from lenders. “On this particular deal, the lender was so busy they didn’t make the call [requesting follow-up documentation] to rectify the situation until the last minute,” Layth Matthews, a broker […]