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Debt Consolidation

First-time home buyer incentive

What is it? The First-Time Home Buyer Incentive (FTHBI) is a government program that helps first-time home buyers* reduce their monthly mortgage payment without increasing their down...

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Good or bad debt?

What is a good debt? What is a bad debt? Knowing the difference between the two will make it easier to manage your debts and reduce their burden.   A debt by any other name… No one...

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Should I choose monthly or weekly payments?

You have just completed the mortgage approval process, and the inevitable question from your mortgage broker or bank adviser crops up: do you want to make weekly or monthly payments? If you answer...

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Swap your bungalow for a condo!

Their youngest has just left the nest. Jocelyne and Jean-Luc are in the mood to travel and enjoy some well-deserved R&R. Mowing grass and shoveling snow are not part their retirement dream. They...

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Refinancing a property can be advantageous.

Certain situations make it worthwhile to refinance your property: To maximize your RRSP in the framework of a plan drawn up by a financial planner; To finance a project at a lower cost (lower...

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Who can be exempt from paying the welcome tax?

The welcome tax is also known as the land transfer tax. Former Minister Bienvenue had created this tax to allow municipalities to tax real estate transactions carried out on their territory as an...

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Do I need to have my mortgage pre-approved if I’m planning to buy a condo?

The short answer is no, but your real estate agent and mortgage broker strongly recommend it. Here’s why: You will be spending a lot of time with your real estate agent because they will be...

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Don't let a new car ruin your dream of home ownership!

Vanessa and Julien decided  it was time to leave their apartment and buy a house. They are excited about becoming home owners.  Bye-bye rent! Following the advice of some friends, they...

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Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

The answer to this question depends on your future projects and your current level of debt. In a nutshell, if you already have credit card debts, a line of credit, a personal or car loan, or a...

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How to find out about your credit rating.

There are essentially two private credit rating firms that produce credit scores which the banks will consider while analyzing your mortgage application. The most well known is Equifax, the other one...

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What do we do if we just made an offer on a house, but haven’t sold our condo yet?

Start by asking yourself this one all-important questions: could you qualify for 2 mortgage loans – your current one on your condo and a new one for the house you want to buy? In effect, even...

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Can refinancing my home solve my debt issues?

This is a question frequently asked concerning mortgage financing… I have credit card debt. Could my house be the solution to my debt issues? The answer is YES, if you have the necessary...

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Your mortgage renewal could reduce your debts.

A car financed at 5%, a line of credit at 9%, credit cards at 19%… Have you ever made a comprehensive list of your current debts?  Many Quebeckers prioritize paying off their mortgage, which is...

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Is it smart to use part of my RRSP’s to pay down debts so I can become a homeowner?

Marie-Pierre decided to buy a nice home in the suburbs.  However, when she applied for a loan with her financial institution, she was refused.  They explained to her that she was already carrying...

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CMHC mortgage insurance premiums have been increased.

January 17th, 2017, the CMHC announced an increase in their mortgage insurance premium rates as of March 17th 1st of this year. This means that if you submit your insured financing to your...

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Important changes in the rules regarding mortgage financing effective October 17

On Monday, October 3rd, the Finance Minister of Canada announced a major change to the rules of mortgage financing, which will affect all clients currently in the process of purchasing a new...

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A private lender could help you find the missing funds needed to complete the construction of your home.

Louise and Roger decided to build their own home. Since they have a lot of construction and renovation experience they figured, “Why not build our own dream home and take advantage  of our...

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It is important to know what credit bureau is.

A credit bureau is your financial x-ray; it rates  your ability to pay or reimburse your debts, which in turn, establishes your credit worthiness to lenders. If you are looking for a property, you...

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Get rid of your credit card debt!

Imagine this: your son is in immediate need of braces, but all your credit cards as well as those of your partner have reached their spending limit. Are you in a momentary bind? What if I told you I...

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When back to school expenses and your summer vacation leave you strapped for cash.

Your summer vacation was great, but your budget took a hit; back to school brings its own new expenses, and you have been carrying some credit card debt for far too long. Clearly, the passing time...

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Is a line of home equity credit (HELOC) accessible to everyone? Yes, but only if…

If  you need to finance less than 80% of the total value of your property,  you could have a portion of your mortgage in the form of a line of credit. The portion of your mortgage that comprises...

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RATES OF

October 18 2019

TERMS BANKS MORTGAGE PLANNERS
1 Year Fixed 4.09% 3.19%
2 Years Fixed 3.89% 2.89%
3 Years Fixed 4.39% 2.99%
4 Years Fixed 4.89% 2.99%
5 Years Fixed 5.19% 2.69%
5 years Variable 3.95% 2.90%
7 Years Fixed 5.80% 3.44%
10 Years Fixed 6.60% 3.70%
HELOC 4.95% 4.45%