A Down Payment – The Perfect Holiday Gift
So many of us are starting to think (or already have a closet full) of Christmas presents that we’re going to buy and give to our closest friends and family this year. But what about a down payment? Sure, it may not be exactly your most traditional holiday present, but the idea of gifting a down payment is nothing new; and it’s something we as mortgage brokers get asked about all the time. That’s because there are some very specific rules to gifting and receiving the gift of a down payment.
Read moreDo You Have Too Much Debt?
We talk about debt a lot on this blog. Good debt, bad debt, how to get out of debt, how to wisely take on more debt, and how to rearrange your debt so that you don’t pay so much on it. But, the one thing people don’t often ask themselves is: Am I in too much debt? Either they think they’re fine because they were just approved for a loan, or they automatically assume that they do have too much debt, even though they may only be carrying a mortgage. So, how much debt is too much? And are you in too deep?
Read moreWhere will Your Kids be Living when You’re 65?
There’s nothing better than family, right? That’s what many of us believe. But what about when it comes to living with that family? And more specifically, living with our children? Having those children is a goal many of us strive to achieve in our single years. And it’s a choice we’re all very happy with during our working years when our children are small. But what about when they grow up? After they’ve graduated high school and are now responsible adults in their own rite? Sure, there’s probably still nothing better than them in our lives. But do you really want them living with you at that stage?
Read moreReport Shows ‘Sizable Minority’ of Canadians Could Not Afford a Rate Increase
So our interest rates right now are pretty low. They’ve been pretty low for some time, and they’re going to remain low for at least a little while longer. But what would happen if they were to increase, even just one percent? While many Canadians have been so busy trying to choose between a variable or fixed rate over the past few weeks, a report from the Canadian Association Accredited Mortgage Professionals looks at another question: what if Bank of Canada’s rate increased, even slightly? The results might be somewhat surprising.
Read moreThe Finances of the Future
A survey completed last week by The British Columbia Securities Commission showed that Canada’s youth have some very unrealistic expectations about their financial futures, and most think that they’ll be much wealthier than they’ll actually be.
Read moreHow Much do you Need to Retire?
The magic number for this question seems to be “a million dollars,” and many experts will give you various reasons as to why you need one million in cash before you retire. But how much do you really need before you give up the working lifestyle and start enjoying your golden years?
Read moreCan You Really get a Mortgage Without a Down Payment?
There’s always a lot of talk about how people with bad credit have the money for a monthly mortgage payment, and maybe even have money for a down payment. But because they don’t have the necessary credit, they think that being approved for a home loan is out of their reach. But what about the flip side? What about those who have an impeccable credit history, but no money for a down payment? Is it still possible for those who fall into this group to obtain a mortgage?
Read more
Contact Us
Contact us today to set up an appointment.