Search Results for 'down payment'

The down payment

April 4, 2018 | By | Add a Comment

So you’ve decided you’re ready to buy a home… but what about the down payment? How much will you need? Is there any hope of saving up enough? Finding the funds for a down payment – yes, even in today’s market – may be well within your reach. And it may not take as long […]

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Buying a house for more than $500K? Check your down payment

December 28, 2015 | By | 5 Comments

Minimum down payment increase – what you need to know On February 15, 2016, the minimum down payment rules will be changing in Canada.  On homes purchased for more than $500,000, the portion of the house price over $500,000 will require at least a 10% down payment, rather than the current 5% down.  The minimum down payment for the first $500,000 […]

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Your down payment – what you need to know

May 10, 2015 | By | 10 Comments

Down payment tips – how to prep You’ve got your down payment and you’re ready to go. Congrats!  So what’s next? Confirming the details To fulfill the conditions of your mortgage approval, you’ll need to document the heck out of everything.  It’s required by all lenders to protect against fraud and to prove that you are not […]

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Go slow and steady when saving for your down payment

July 7, 2013 | By | 1 Comment

Wondering if you’ll succeed in saving for your down payment? Buying your first home can be daunting, especially if you’re buying a home in Toronto, Mississauga, or the surrounding areas.  Bad enough that home prices are a little intimidating.  When you start thinking about saving for your down payment, if you don’t have parents with buckets of cash just waiting […]

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Use your RRSP for the down payment on your first home – here’s how

June 6, 2013 | By | 3 Comments

Buying your first home? Wishing you’d saved more? Maybe you have, but didn’t know it. There are several programs to help first-time buyers get into home ownership.  The Home Buyers’ Program, or HBP, allows you to access RRSP money to purchase your first home. Why do it? The most obvious reason is to boost your down payment.  The bigger your down payment, the smaller […]

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Using your RRSP for a Down Payment? Read this!

October 31, 2011 | By | Add a Comment

If you’re like many of us, wading through all the rules on RRSPs, the federal Home Buyer Plan, and the like is sure to put you to sleep.Here’s a great article that gives you the scoop on the rules around RRSP withdrawals for your down payment. And it’s in plain English!    

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How much do I need for downpayment in 2016?

January 1, 2016 | By | Add a Comment

New downpayment rules coming February 2016 If you’re buying a Canadian home in 2016, you may need a bigger downpayment. As of February 2016, the rules are changing, depending on the purchase price. If your house price is under $500,000, you’re in luck – the minimum downpayment stays the same at 5%. If your home […]

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Balance mortgage rate with options, privileges and payment schedules

December 18, 2017 | By | Add a Comment

What is an Interest-Saving Mortgage? One of the problems in the mortgage industry is the way mortgages are advertised: usually by rate. If an online rate says 1.9%, chances are homebuyers are going to check it out. What many don’t realize is that saving interest is what saves money over the long term, and that […]

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