Planning to buy a home? The cost of buying a home is always more than the purchase price and a moving truck rental. First-time home buyers are often shocked when they hear about closing costs such as… Continue reading »
Category: Mortgages
How a Mortgage Broker Works: Answering Your Top Questions
You’ve probably heard about mortgage brokers, but may be a little unclear about just what they are, what they do, and how much money they can save you… Continue reading »
Why You Need A Real Estate Lawyer When Buying A Home
Legal jargon can be tough to navigate, and making a mistake can be easy, yet costly when buying or selling a home. This is why a real estate lawyer can… Continue reading »
Predictable: Bank of Canada Maintains Interest Rate at 1.25%
The Bank of Canada (BoC) announced today it will keep the key interest rate at 1.25%. This Bank hiked its rate to 1.25% back in January but new economic developments could mean a hike as soon as… Continue reading »
How You Can Get $50,000 from your RRSP for a Down Payment
An RRSP is viewed as long-term investment, but it can come in handy for big purchases that you want to make right now, like a new house. You can get up to $50,000 tax-free by looking to the Home Buyers’ Plan (HBP), a Government… Continue reading »
Banking 101 / First Time Home Buyers / Growing Your Money / Lifestyle News / Personal Finance / Personal Finance News / RSM News / Saving For Retirement / Savings 101 / Savings News
RRSPs: Your Essential Questions Answered
At this time of year, it seems like the financial world is awash with information on what is a Registered Retirement Savings Plan (RRSP), the benefits of having one, and how to start one. But there are still a few planning points that Canadians either aren’t aware of or don’t know how to fully put to use… Continue reading »
What Is My Debt-To-Income Ratio? Debt Stats You Should Know
To approve you for a line of credit, loan or even a mortgage, lenders usually look at your debt-to-income ratio. This ratio is simply how much of your income is spent on debt. To calculate your own debt-to-income ratio, first tally up… Continue reading »