Monthly Archives: Monday February 27th, 2017

The questions you need to ask before deciding to move or upgrade your home

Monday February 20th, 2017

The questions you need to ask before deciding to move or upgrade your home

We often want to move because we want a bigger home. However, several factors, such as hesitating to leave a neighbourhood your family is fond of or the high cost of a larger home, might lead us to ask ourselves, “Why not just expand our current home instead?” Would adding a garage with an extra […]
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CMHC mortgage insurance premiums have been increased.

Monday February 13th, 2017

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 financial institution after March 17th, 2017, your mortgage insurance will be higher. Here below are two examples: 1) $300,000 purchase with 5% […]
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Do you know what the minimum down payment is for a condo, a bungalow, a castle, etc?

Monday February 6th, 2017

Do you know what the minimum down payment is for a condo, a bungalow, a castle, etc?

Since the law changed in October 2016, the minimum cash down payment to purchase a house, condo or duplex valued at less than $500,000 is 5%. When the price is higher, you must put down 10% cash for the exceeding portion. For example, a property valued at $1,000,000, would require a 5% down payment for the […]
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