Category Archives: Assurance Hypothécaire

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

Monday October 16th, 2017

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 $684.00 for which she had not budgeted. But it is not the notary’s fees, which are those agreed upon, that are […]
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Buying a home when you’re new to Canada: It’s easier than you think!

Monday August 21st, 2017

Buying a home when you’re new to Canada: It’s easier than you think!

Are you new to Canada and think that buying a home is out of reach? Think again! With good planning and sound advice from real estate and mortgage brokers, it can be done.   Common myths New immigrants often rely on information from family and friends. It’s understandable: these are people you know and trust. […]
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A mortgage for self-employed : Can it be possible?

Monday June 26th, 2017

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 solution For a salaried individual income is established with a written confirmation of employment , specifying the date of hire , his annual salary, […]
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Taking advantage of the CMHC portability option

Monday May 15th, 2017

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 option? What is the CMHC portability option? All buyers who provide a down payment of less than 20% of the purchase […]
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Did you know about the 9% tax?

Monday March 6th, 2017

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 or refinance a property, the mortgage loan has to be insured by the CMHC, Genworth, or Canada Garanty, and the Quebec government taxes the cost of the insurance policy. This tax is payable at the notary […]
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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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Save $2,000 with a $500 investment.

Monday December 12th, 2016

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 home! Here is a simple example of a mistake that is made all too often: if you have […]
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The steps to property ownership in 2016.

Monday December 5th, 2016

The steps to property ownership in 2016.

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 transaction, but will also offer invaluable professional advice on these topics: The required down payment Your affordable price range and maximum limit Your […]
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Is it smart to use part of my RRSP’s to pay down debts so I can become a homeowner?

Monday August 24th, 2015

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 too many debts and fixed monthly payments to qualify for a mortgage. Later that night she met up with some friends and told […]
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