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 [...]
Mortgage Options In Canada. Choosing a Mortgage amortization period in Vancouver. The mortgage amortization period is defined as the length of time it takes you to pay off your mortgage in full. The longest mortgage amortization period in Canada use to be 25 years. Today, high ratio insured mortgages (less than 20% down) allow up [...]
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 [...]
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. [...]
Having run my own business for pretty much my whole adult life, I find this skill so Important. It’s amazing how See-Through Vision can make all the difference in the world. See-Through Vision is the simplest most important skill that you’ll ever develop. You actually start developing it between the age of three years old and [...]
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 [...]
