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GIC Guides & Info Corner

A Guide to the First-Time Home Buyer Incentive

A Guide to the First-Time Home Buyer Incentive

The federal government launched the First-Time Home Buyer Incentive (FTHBI) on September 2, 2019. With funding of $1.25 billion dollars to be used over the next three years, this program aims to help thousands of Canadians become homeowners. If you qualify, you apply for a 5% or 10% shared equity mortgage with the Government of Canada.
Best Motusbank Mortgage Rates & Reviews

Best Motusbank Mortgage Rates & Reviews

Countless Canadians are dreaming of their first home or their next home, and Motusbank is clearly offering a lot of interesting options, low rates, and fantastic flexibility to give its members the best possible start on the road towards home-ownership.
Pros & Cons of getting a Private Mortgage & Loans

Pros & Cons of getting a Private Mortgage & Loans

What Are Private Mortgage Loans? Private mortgage loans are granted by private lenders unlike banks or conventional financial institutions. These short term loans do not require homeowners to pay the mortgage principal. Simply put, you only have to make the interest...

How much mortgage do I qualify for?

How much mortgage do I qualify for?

How much do I qualify for? If you’re ready to purchase a new home, one of the first things you want to find out is how much you’re qualified to borrow. Lenders have restrictions on the amount of money that a lender can borrow that is based on the borrower’s...

Reasons to Consider Mortgage Refinancing

Reasons to Consider Mortgage Refinancing

There are many reasons to consider mortgage refinancing to replacement your existing mortgage loan with another lender under different terms. A borrower in Canada may consider refinancing his or her loan for diverse reasons. If you’re not sure whether you should go...

Shop before you Renew

Shop before you Renew

        At mortgage renewal time, it is important to keep in mind that all financial institutions are about making a profit. Unfortunately, according to the Canada Mortgage and Housing Corporation (CMHC), between 60-70% of Canadians...

Private Mortgages in Canada

Private Mortgages in Canada

        You just never know when or why you might need a lot of money for something other than a straightforward mortgage for a home to live in. Perhaps you need money quickly for a very specific purpose that will never satisfy the requirements for...

Statement of Adjustments

Statement of Adjustments

        When purchasing, refinancing or selling your home, you will need the services of different professionals from the first step to the closing. You may be required to hire a realtor, a survey or other professionals to ensure the procedure runs...

How much should You borrow?

How much should You borrow?

        The first thing you’ll need to decide if you are going to buy a home is how much you can afford to borrow, this especially important if you are looking for a 1st time home buyer mortgage. The interest and mortgage types play an important...

Banks vs. Mortgage Brokers

Banks vs. Mortgage Brokers

        Banks vs. Mortgage Brokers: Who is the Better Choice? The traditional mortgage providers in Canada have been large banks. You also have the option of working with an independent mortgage broker. A smaller number of people opt to apply for...

Managing your Credit Score

Managing your Credit Score

How to Manage Your Credit Score? Your credit score is one of the first things a creditor will consider when determining whether or not you’re a good candidate for a mortgage. It shows creditors their level of risk if they lend you capital, and is a gauge of your...

Is it Better to Rent or Buy a Home?

Is it Better to Rent or Buy a Home?

If you are wondering Is it Better to Rent or Buy a Home and what is right for you requires careful consideration. While apartment living may have become tiresome, and you may be sick of paying out money to live when you could be investing in a nice home, the freedoms...

Debt Consolidation in Canada

Debt Consolidation in Canada

Wish you could combine all your debt into one low rate loan? Now you can, using HELOCs. It does not matter what type of debt you have: auto loans, credit card debt, personal lines of credit – all of these can be combined into one low-rate mortgage loan. You can pay...

Balancing Mortgages and Income

Balancing Mortgages and Income

        When buying real estate, you will find that mortgage rules have become tougher recently and home prices are rising at a steady rate, making it difficult to purchase. A recent increase in mortgage rates by Bank Of Canada make it even tougher...

Tangerine Mortgage Rate Review

Tangerine Mortgage Rate Review

Tangerine launched on April 27, 1997 with the name ING DIRECT Canada. In 1998, the bank opened its first café in Vancouver. It was during the same year that Tangerine started internet banking, with the launch of an online banking site. Come 2012, the bank set foot in...

Royal Bank of Canada (RBC) Mortgage Review

Royal Bank of Canada (RBC) Mortgage Review

        The Royal Bank of Canada (RBC) also offers other specialty mortgage products which include a Self-Employed mortgage product, the RBC Homeline Plan, a Cash Back Mortgage, the RateCapper Mortgage, the Vacation Home Mortgage, and the Energy...




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