Fact sheet First-time home buyers’ tax credit What is the first-time home buyers’ tax credit (HBTC)? The HBTC is a non-refundable tax credit for certain homebuyers who acquire a qualifying home after January 27, 2009, that is – closing after this date. How is the HBTC calculated? The HBTC is calculated by multiplying the lowest [...]
Here’s a quick note to let you know how you and I can help anyone you feel comfortable introducing me to. When I got a call from, Francoe, the son of an old client, he told me that he was shopping around for a mortgage, and he was comparing rates. I explained that there is [...]
Q: My friend just bought a rental property in Vancouver and she bought it with only five per cent down. How did she do that when CMHC changed the rules earlier requiring 20% down? A: Although CMHC will only finance a rental property with 20 per cent down, they’ll still finance a “second home” with as [...]
If you’re happy paying the banks more than you have to, STOP reading right here. BUT, if you’re tired of being hoodwinked, read on – For fun, I just called up the bank and asked them what their best 5 year rate was. Guess what they said… Well, our posted rate is 5.39%, but if [...]
Welcome back Mark Fidgett here for www.notapennydown.com Just got off the phone with a VERY distressed home owner. Imagine losing your job, just as your mortgage is about to come up for renewal. Talk about bad timing! I’m going to share with you exactly what I told my client. I’ve got a secret to tell [...]
From now on you may want to reconsider paying $23.95 to Equifax for your credit score. You might be surprised to hear that what you get, may NOT be what you expect. You like me, probably believe that when you pay the additional $23.95 to Equifax, you’re getting the score that lenders rely on to [...]
Have you ever heard of the “Straw buyer” scheme? And it has nothing to do with farming.. It’s another term for mortgage fraud. The “straw” or “dummy” home buyer scheme. For example, a renter does not have good credit or maybe he/she doesn’t not have the income needed to get a mortgage, or sufficient down [...]
The kitchen is the heart of the home, and it’s the most highly valued room by buyers, so you want to make it show its best. Here are some tips to create a captivating kitchen: You can cut down on visual clutter by removing items you normally store on the counter. This will help your [...]
Imagine losing $50,000 or MORE? That’s exactly what the caller in the video below stands to lose. All because she didn’t know the difference between a Pre-Approval and a Pre-Qualification. It’s a common story. Client attends a showroom, likes what they see, writes an offer, gives a deposit and anticipates closing 2 years down the [...]
If your credit is less than stellar, applying today may actually make your credit worse. Don’t get me wrong, I’m not saying don’t apply. I’m saying, don’t apply yet. Do you suspect there may be an issue with your credit, if so, you’re better off pulling your bureau yourself. Your score will not be harmed [...]
