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So far skyfinancial has created 203 blog entries.

A Beginners Guide to Mortgage Insurance and how does it affect you?

A Beginners Guide to Mortgage Insurance and how does it affect you? Mortgage default insurance, also known as CMHC insurance, is mandatory for Canadian homeowners who have a downpayment of more than the absolute minimum of 5% and less than 19.99%. Put simply; mortgage insurance is a way to protect the mortgage lenders, in the [...]

By | 2018-11-28T16:45:41+00:00 November 28th, 2018|Mortgage Tips|0 Comments

How Can I Invest in the Canadian Real Estate Market?

How Can I Invest in the Canadian Real Estate Market? Before deciding that you are going to invest in real estate it is vital to do your research, particularly when it comes to funding and mortgages. Taking out additional mortgages as a way to buy investment properties can be tricky - especially when so many [...]

By | 2018-11-16T19:27:54+00:00 November 16th, 2018|Investment Properties|Comments Off on How Can I Invest in the Canadian Real Estate Market?

National Mortgage broker conference -B20

MORTGAGE STRESS TEST ADDRESSED AT THE CONFERENCE On Monday Oct 29 2018, CMHC addressed a few questions regarding the regulatory changes in the mortgage industry at the National Mortgage Broker conference The mediator for this seminar was the President of the "Mortgage Professionals Canada". The discussion was mainly about the Mortgage stress test ie; B20.  CMHC [...]

By | 2018-10-31T16:14:02+00:00 October 31st, 2018|Mortgage Rules, Stress test|Comments Off on National Mortgage broker conference -B20

Canada’s Housing Market: Slow and Steady Wins the Race

Canada’s Housing Market: Slow and Steady Wins the Race Following the federal government’s latest mortgage requirements, the Canadian housing market has seen a dramatic downturn in sales. Over the past few months, cities such as Barrie, Toronto, and Vancouver have gone from having houses sell within 24 hours to houses sitting for weeks - in [...]

By | 2018-10-30T17:49:40+00:00 October 30th, 2018|Economy|Comments Off on Canada’s Housing Market: Slow and Steady Wins the Race

Is it Possible to Get a Mortgage With Bad Credit?

Is it Possible to Get a Mortgage With Bad Credit? Throughout life, most people run into a time where money gets tight. Maybe someone gets sick or experiences a job loss, or a reduction in hours, whatever the reason times like this often result in people relying on credit more heavily than they would otherwise. [...]

By | 2018-10-22T21:28:36+00:00 October 22nd, 2018|Credit Bureau|Comments Off on Is it Possible to Get a Mortgage With Bad Credit?

How have the new mortgage rules impacted the price of homes throughout Canada?

How Have the New Mortgage Rules Impacted the Price of Homes throughout Canada? The last few years have brought great change to the Canadian housing market, primarily due to the most recently implemented mortgage rules that were put in place. While these changes and rules have been put in place as an attempt to protect [...]

By | 2018-10-10T22:14:48+00:00 October 10th, 2018|Mortgage Rules, Stress test|Comments Off on How have the new mortgage rules impacted the price of homes throughout Canada?

New mortgage for landed immigrants

Home Ownership for landed immigrants in the past, you would have needed 35% downpayment for a mortgage. Now there is a special program for landed immigrant, you can now purchase your new home with as little as 5% downpayment. A recent research by Genworth Canada shows that more than half the immigrants end up purchasing [...]

By | 2018-06-05T20:51:13+00:00 June 5th, 2018|Mortgage Tips, Uncategorized|Comments Off on New mortgage for landed immigrants

Your mortgage is about to get more expensive

The Bank of Canada raised its benchmark interest rate to 1.25 per cent Wednesday and signaled that, barring certain risks, more hikes are likely in the rest of the year. That’s creating an unusual situation for Canadians: for the first time in years, those renewing mortgages will be faced with higher rates and an increase in [...]

By | 2018-01-20T15:34:49+00:00 January 20th, 2018|Economy|Comments Off on Your mortgage is about to get more expensive

What you need to know before buying a Home

Many first-time home buyers are surprised to discover just how many ways you can mess up the home financing when buying a home. You may received your pre-approval, found a home you loved and made an offer. But if you want to avoid messing up the transaction, you will need to be extremely careful until the sale [...]

By | 2017-12-07T20:44:47+00:00 December 7th, 2017|Mortgage Tips|Comments Off on What you need to know before buying a Home

Pay less tax on rental properties

Q: I have five rental properties in my name. Should I switch them to a numbered company? –Travis A: Hi, Travis. Incorporating a holding company to own rental properties has some advantages and disadvantages depending on the objectives you have in mind in both the short and long term. However, you should first speak with a [...]

By | 2017-11-24T16:35:47+00:00 November 24th, 2017|Investment Properties, Uncategorized|Comments Off on Pay less tax on rental properties