When it comes to purchasing a home, most offers include “conditions” (or “subjects” if you are in the provinces of British Columbia or Manitoba), which are requirements or criteria to be met before the sale … Read More
Use Home Buyer’s, RRSP plans for down payment on a mortgage!
RRSP Home Buyers’ Plan The Home Buyers’ Plan (HBP), a program offered by the Government of Canada, is designed to help Canadians purchase their first home. The program allows RRSP account holders to withdraw money … Read More
Bank of Canada raises rate, again!
Where are we heading with affordability? Bank of Canada raises policy rate by 25 basis points The Bank of Canada has raised its target for the overnight rate by 25 basis points to 4.75%. … Read More
Mortgage advice MortgagePRO!
Solid advice and prudent planning make all the difference. As Canadians adjust their home-buying strategies, professional advice is paramount to ensure they understand their options and what is possible, MortgagePRO brokers say. An advisor can … Read More
Home equity can be used as business loan!
Financing options After navigating the COVID-19 pandemic, many small businesses in Canada continue to struggle as they face rising inflation and the looming possibility of a global recession. Despite these unstable conditions, 83% of small … Read More
What will spring bring in Real Estate
According to the Canadian Real Estate Association, the Spring market is anticipating a drop in home prices edging down approximately 6% from 2022, putting the average home price at $662,103 in 2023. The downward trend … Read More
Traditional vs Collateral Mortgages Explained! RBC!
ROYAL BANK! A mortgage is a legal document for borrowing money, usually from a bank. That gives the lender the right to take possession of your house if the loan is not repaid as scheduled. … Read More
Ban on foreign buyers not a bullseye!
Before the finalization of the regulations, CAPL urged the government to reconsider the definition of “acquire” so that mortgage lending entities with 3% or more foreign ownership, which gain possession, control, or right of the … Read More
Importance of having a plan and a budget!
Step 1: Determine your income When creating a budget, the first step is determining your income. Understanding how much money you make is essential to know how much you can spend. Rather than budgeting for … Read More
Foreign buyers are out for 2 years in Canada
FOREIGN OWNERSHIP OF LAND IN ALBERTA Real Estate / By Pranav Khemka In clause 6.2 of the standard Alberta Country Residential Purchase Contract (the “Contract”), the buyer makes a promise to the seller that they are eligible … Read More