Tag: First-time homebuyer

How to buy your first home by 29

February 26, 2018 | By | 3 Comments

What’s the rush?  The financial “why” HSBC did an interesting study in the UK in 2014.  It suggested that if you buy your first home by 29, you create a positive cycle that not only benefits your own financial situation, but that of your future children as well.  Buying early gives enough of a boost that you […]

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New mortgage stress test for 2018 – why you might want to buy or refinance *now*

October 20, 2017 | By | 2 Comments

Purchase – or refinance – before the rules change in January If you’re looking to buy with a down payment of more than 20 percent, or if you’re considering refinancing, then you might want to do so before January 1st.  Why?  On October 17, the Office of the Superintendent of Financial Institutions (OSFI) released new […]

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Do you look like the next generation of homebuyers?

August 14, 2017 | By | Add a Comment

First-time homebuyers survey This past June, Mortgage Professionals Canada published their survey results on the next generation of homebuyers – adults under the age of 40 who don’t currently own a home, but who expect to own in the near future.  If you’re planning on buying, or help a child get into home ownership, these […]

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4 first time homebuyer programs you should know about

March 14, 2016 | By | 4 Comments

Buying your first home in Toronto? …  Or surrounding areas such as Etobicoke, Mississauga, Oakville, or beyond?   There are first time homebuyer programs you should keep in mind when doing your mortgage planning.  They’re brought to you by both the federal, provincial, and Toronto governments. Two key things you’ll need to save for when buying your […]

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My #1 financial tip? Give yourself (good) credit!

February 22, 2016 | By | 1 Comment

First: me, blogging about finance? My blogging on this site sometimes feels a bit uncomfortable. I hate that I might sound “preach-y”, or worse, bossy (something I’m kinda sensitive about, being the oldest child of four). And in reflecting on what my # 1 financial tip would be, who do I really think I am, trying to come […]

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7 tips for mortgage after consumer proposal

February 1, 2016 | By | 5 Comments

Getting a mortgage after a consumer proposal? If you’re like most people, getting a consumer proposal feels like a big relief at first. You want to get this thing done and then move on with your life. But the moving on can become very frustrating because potential new creditors, such as when you want to […]

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Single and want to buy your first home?

January 25, 2016 | By | 4 Comments

Here’s what you need to know One of the fastest growing trends in Canada is single people buying their first home on their own, rather than waiting for a partner.  According to CMHC, in 2011 a full 42% of owner-occupied condos housed singletons, and single person households are expected to continue growing. Are you wondering if […]

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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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