2024 Federal Budget Announcements and Thirty Year Amortization Period Finance Minister Chrystia Freeland announced April 11, 2024 that the federal government will allow a thirty year amortization period on insured mortgages for first-time homebuyers purchasing newly built homes. Some say expanding the policy to all Canadians would help make home ownership more affordable. The change […]
CMHC Eco Program CMHC has introduced their Eco Program: providing premium refunds for energy efficient homes are for clients who are buying a home deemed “energy efficient”. Clients could be eligible for a 25% refund of their CMHC Insurance Premium! For some perspective; on a purchase price of $850,000 with minimum down payment […]
CEBA Loan Forgiveness Deadline Approaching For eligible CEBA loan holders in good standing, repaying the balance of the loan on or before January 18, 2024 will result in loan forgiveness of up to 33 % (up to $20,000). As of December 4, 2020 the maximum CEBA loan amount was increased to $60,000. CEBA loan holders […]
We believe Informed Consumers Make Better decisions Educate Yourself Mortgage renewal and educating yourself, there are so many questions. There is information overload and it can be daunting. Where is the economy at and where is it going? We don’t have a crystal ball, but here are some tips if you have a […]
The beginnings of the E&N Railway The Occidental Hotel – a piece of Nanaimo history dates back to the 1870’s when construction began on the Canadian Pacific Railway. The construction of this transcontinental railroad would link British Columbia with the eastern Canadian provinces. This was a ‘term of the Union’ when BC joined the […]
The bank of Canada has just raised their rate to a 22 year high at 5.0%. This move has us all pondering : What are interest rates going to do? Whether you’re a Mortgage Broker, a Realtor, a homeowner, a consumer, or an investor – everyone wants to know what interest rates are going to […]
University will start in the Fall. For some of our kids that means seeking accommodation options. Perhaps your looking to buy a second home to reside in for commuting purposes, or want to buy a vacation property to enjoy. Others might want to purchase a property to move a family member closer. Canadians are […]
Death. There, I said it. Losing a loved one is one of the most difficult things a person can face. Being left to navigate the estate process can be daunting. However, with prudent planning, the people left behind can grieve their loss and support the wishes of their loved one. Make a plan for […]
Self Employed : Mortgages Being self employed has many advantages, like setting your own schedule and being your own boss. You also have the advantage to write off items to decrease your taxable income. This is great when it comes time to pay the Government, but can create challenges when you are planning on borrowing. […]
Crunch the Numbers The Spring market is here! Many buyers have been patiently waiting things out–watching the interest rates, and housing prices. For buyers who continue to question if now is the time, we’ve done it for you, crunch the numbers that is. Any way you slice it, by comparing March 2023 statistics to those […]
