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Mortgage insurance

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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A mortgage for self-employed : Can it be possible?

Well yes, it is possible! Qualifying income is the only difference in qualifying for a mortgage between a salaried individual and a self-employed individual . For each situation here is the...

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Did you know about the 9% tax?

In Quebec, the majority of insurance policies is subject to a 9% tax. Therefore, when you buy a house, the mortgage loan has to be insured by the CMHC, Genworth, or Canada Garanty, and the Quebec...

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Taking advantage of the CMHC portability option

Anna and Jeff own a condo. However, with their third child on the way, they need to buy a larger home. Can they take advantage of the Canada Mortgage and Housing Corporation (CMHC) portability...

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The steps to property ownership in 2018.

It’s easy! You start by securing a pre-approved mortgage from an expert in the field such as a mortgage broker. Your mortgage broker will not only become your partner in this important...

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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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Why is there is an additional $684 in my notary’s fees?

OMG! There is an additional $684.00 in my notary’s fees. Vanessa recently signed the deed of sale on her townhouse at the notary and has just received her bill. She discovers the amount of...

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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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Save $2,000 with a $500 investment.

Did you know that making a 10% down payment instead of 5% saves you 0.75% on your CMHC (Genworth or Canada Guaranty) premium?   So be mindful of how much you put down on the purchase of your...

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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...

Read More
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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Consider a 10-year term for your mortgage if you are worried about future interest rate increases.

Economic experts will tell you that, aside from 2 or 3 exceptions over the last 25 years, it has always been wise to take out a 1-year term or a variable mortgage. That being said, rates are...

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Make sure you are ready to sign at the notary.

You recently lived the hectic experience of finding a home: negotiating a price, getting the property inspected, preparing the documents needed for your mortgage application. You were also on the...

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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%