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Down Payment Changes

Today the Federal government announced that starting February 15 the minimum down payment required will increase to buy a home priced greater than $500,000. You'll still pay 5% on the first $500,000 but you'll pay 10% down on the remainder for homes up to $1,000,000. Example: an $800,000 purchase price will cost you $25,000 down on the first $500k and $30,000 down on the remaining $300k to ...

The best gift for your Holidays? Keep your credit history in shape!

Winter has already hit Canada, and we are approaching the Holidays very quickly.  With Holidays come the purchasing of presents and quite often credit utilization. As credit history is one of several main components of a qualifying for a mortgage, budgeting for the Holidays and, furthermore, not maxing out your credit can avoid negative surprises in 2016.  While building a budget, ...
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