We’ve all heard of insurance, in fact, it’s common place to pay for insurance for some type of protection. Well CMHC (Canadian Mortgage & Housing Corporation) mortgage default insurance is also a protection, BUT not for you. It protects the bank (lender), BUT YOU pay. That’s right, you pay in order to protect the bank [...]
Are house prices in Canada on the decline? TD thinks so… Or at least a “moderate correction” The average price of a resale home in Canada will fall by more than 10 per cent over the next couple of years, an analysis by TD Economics predicted Wednesday. Calling it a “moderate correction,” the report’s authors [...]
You may be surprised to learn how long certain information, actually stays on your credit bureau. As you probably know, credit is one the most important factors in the mortgage approval process. The length of time that information must stay in your report depends on: the province or territory where you live, and the type [...]
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 [...]
What is a HOG Vancouver and why should you care? HINT, it ain’t no PIG. HOG is the Home Owner’s Grant Program. It’s designed to help homeowners reduce their property taxes. You should care because Property Taxes are due early July and if you don’t claim it, you don’t get it. Quite often I’ll receive calls from [...]
“Credit is dirty.” How many times have you heard so-called experts preach this sort of thing? Stop using credit, they recommend. Just cut up your cards and adopt a cash-only policy, they say. Well, this is terrible advice! Don’t get me wrong, I believe in trying to be debt free. But the truth is that [...]
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 [...]
The VERY first thing you should think about when putting your home on the market is curb appeal. Some great advice from Anne Bourne of StagingWorks, a Toronto-area home staging company. Valuable advice for anyone about to put their home or condo up for sale. Vancouver Mark Fidgett Your Vancouver Mortgage broker 604-273-2002 www.notapennydown.com mark@notapennydown.com
This is an extremely informative excerpt from the book “Buying Real Estate in The US” A Rare Opportunity “It’s too good to be true.” While this statement is usually true, it appears to not be the case when talking about the real estate investment opportunities that exist right now for Canadians in the United States. [...]
You’re probably curious why Seatle homeowners can deduct their mortgage interest to reduce their tax bills, but Canadian homeowner across the border in Vancouver cannot make their mortgage tax deductible? You may be surprised to hear that you can make all of your mortgage interest tax deductible in Canada! The wealthy people in this country [...]
