Chapter 9 - Improving Credit
The majority of Canadian citizens have a credit score. Scores can range from 300 to 900. Anything above 680 is considered good credit and you...
Read MoreChapter 10 - Common Required Documents
Although you don’t need to provide documents during the pre-approval process, you will eventually need to confirm the information on your application. The exact documents...
Read MoreChapter 11 - BC Home Buyer’s Plan
The Home Buyers’ Plan (HBP) is a first time home buyer program that allows you to withdraw up to $25,000 from your RRSP for a down...
Read MoreChapter 12 - Special Tax Discounts
Home Owner Grant: The basic grant can reduce your property tax by as much as $570 per year. To be eligible for the grant, you must...
Read MoreChapter 13 - Property Transfer Tax Exemption
This is a big benefit for first time home buyers. When purchasing real estate in BC, you must pay a property transfer tax of 1%...
Read MoreChapter 14 - Extra Costs to Consider
When you are buying a house, you will need to have additional funds set aside for closing costs. These costs can add up to a...
Read MoreChapter 15 - Prepayment Options
Depending on the lender, you will have a variety of prepayment options available to you. Using these options is a great way to reduce the...
Read MoreAdvantages of Using a Mortgage Broker
There are a few really important reasons why should you use a broker instead of a bank. A good mortgage broker knows all the...
Read More
July 2012 Mortgage Rule Changes in BC
The new mortgage rules came into effect in early July. Basically the government is taking extra precautions on mortgage financing to make sure Canadian borrowers...
Read MoreBC First Time Home Buyer $10,000 Tax Credit
UPDATE: This credit is no longer available effective April 1 2013 The government is in the process of introducing a new incentive for first time...
Read More