Many times, when you’re looking for a new home there is something that needs to be changed – flooring, roof, cabinets, paint colour of the rooms, etc. Home owners are also worried that they will not have the money to make these changes after they factor in a...
The minimum down payment for a home purchase in Canada is 5%. To be eligible for a home purchase with a 5% down payment borrowers must intend to occupy the property either themselves or have it occupied by an immediate family member. No rentals are allowed under this...
Homebuyer’s in Canada require mortgage default insurance whenever they are placing less than a 20% down payment on their purchase. Typically, it’s most first time home-buyers that take advantage of mortgage insurance from either Genworth, CMHC or Canada...
Taking advantage of your mortgage pre-payment privileges is a great way to become mortgage free faster. First National is Canada’s largest non-bank lender and is one of the lenders I recommend because they have some of the most flexible pre-payment privileges...
There’s more ways to pay off your mortgage sooner than just making accelerated mortgage payments. If paying off your mortgage sooner sounds appealing, here’s 3 additional ways to save money on your mortgage. Pre-Payment Privileges By taking advantage of...
