What is an RDSP?
If you’ve never heard of an RDSP, you’re not alone, many Canadians don’t. But, if you’re disabled, or know some that is, it’s something you need to become familiar with. These grants work very similarly to other types of investments, such as RESPs and RRSPs, and they can be very profitable for those that are eligible. The problem isn’t that the grants are hard to obtain, or that the federal government isn’t willing to put up enough money. The problem is that those eligible simply don’t know they are – because they don’t know about the program
Read moreMerrill Lynch Thinks Canadians are in Trouble; are we?
A recent report by the Bank of America Merrill Lynch report has gotten some Canadians worried, as the report states that those of us carrying a floating rate mortgage are in trouble. But do we really have reason to be worried?
Read moreClosing Costs, Part 4: Closing and Refinancing
Over the past two weeks we’ve spent a lot of time taking an in-depth look at closing costs, in our first ever mini-series. We’ve looked at everything from what they are, to how much they can actually cost, and even how you can get other people to pay them for you. But, we’ve been focusing mainly on first mortgages. What closing costs are you facing when you refinance your home? That’s just what we’ll look at in this last part of our mini-series.
Read moreBank of Canada’s Interest Rate, and Predictions
It’s the Bank of Canada that more or less determines the interest rates you’ll be paying on your mortgage; so when they speak, we listen. On Tuesday of this week, the Bank announced that it will keep its overnight interest rate at 1%. While this wasn’t really huge news, given that the same announcements were also made in July and September, this time the Bank also made some observations about the Canadian economy, and what the country’s financial situation is going to look like for the next year or two.
Read moreWhat are Private Mortgages?
If you’re looking to own a home, you need to go to a bank in order to get a loan, right? Well, not necessarily. In some cases, you might find a seller that is willing to offer you a private mortgage. And depending on your situation, it might be just the thing for you.
Read moreTen Most Affordable Cities in Canada
We’ve already talked in-depth about how expensive it can be to live in some of Canada’s cities, especially places like Vancouver. But what about people looking for an affordable Canada mortgage? Where can these people go to still get affordable rates, but also lower home prices? Canada is a beautiful country, and one with lots of options! If you’re looking to move, or are just wondering if your city falls into the list, here are the 10 most affordable cities in Canada, as reported by the Canadian Real Estate Association
Read moreClosing Costs, Part 3: Who Pays for What?
In the first part of our mini-series looking at closing costs, we talked about just how important they are, and just how expensive they can be. If you’ve been following, you’re probably a little worried about them yourself now, and are ready to jump at the chance to have someone else pay them. Well, it’s true. It’s very common for sellers to pay the closing costs, and some lenders will even pitch in when it comes time to get a mortgage, and to start talking about closing costs with your mortgage broker. In part 3 of our mini-series, we’ll look at just who you can expect to pay what closing costs, as well as how that process works.
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