Using Your RRSP for a Home Downpayment
Are you thinking of buying a home and wondering how you’ll come up with the downpayment? Did you know that the government of Canada offers a program called the Home Buyer’s Plan (HBP) that allows for using your RRSP for a home downpayment? Qualification for the HBP (Home Buyer’s Plan) To qualify for the HBP,…
Read Article...The Difference Between a Deposit and Down Payment
Do you know the difference between a deposit and down payment? Are you new to the home buying process and feeling confused by some of the terms used? We understand that it can be overwhelming, but don’t worry, we’re here to help. In this article, we’ll clarify the difference between two commonly confused terms: the…
Read Article...New to Home Financing? Start with a Mortgage Pre-Approval
Have you considered a mortgage pre-approval if you’re new to the home financing journey? Embarking on the journey to buy a property can be exciting, yet overwhelming process. If you’re unsure where to start, you’ve come to the right place! Let’s explore how getting pre-approved is a crucial first step in your home-buying adventure. Imagine…
Read Article...Understanding Debt Collections and Mortgage Financing
How do debt collections and mortgage financing connect when applying for a mortgage? Debt collections can negatively impact your credit score, debt-to-income ratio, and borrowing capacity when applying for a mortgage. Lenders consider a borrower’s credit history when assessing creditworthiness, and a history of debt collections can be viewed as a red flag. Debt collections…
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