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So far skyfinancial has created 198 blog entries.

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

Complex mortgage rules boost value of mortgage brokers

More complex mortgage rules boost the value of mortgage brokers.  The last quarter of 2016 brought considerable change to Canada’s residential mortgage business. In October, the Department of Finance Canada announced new mortgage rules that have had a tempering effect on the market. Then, in late December, the Office of the Superintendent of Financial Institutions [...]

By | 2017-02-08T16:03:17+00:00 February 8th, 2017|Mortgage Rules, Mortgage Tips|Comments Off on Complex mortgage rules boost value of mortgage brokers

Landlords now have more protection

Casalova is a Toronto-based startup offering an online platform for tenants and landlords. (www.casalova.ca) The free program launched last week, with an offer of a $50,000 rent guarantee to protect landlords in the event of tenant default. “Casalova was built from our own renting experiences. We were shocked at how long, broken, and fragmented the renting [...]

By | 2017-01-04T00:58:49+00:00 April 11th, 2016|Investment Properties|Comments Off on Landlords now have more protection

Is a Home Equity Loan Right for You?

Home-equity refers to your home’s fair market value minus any outstanding loans or interest that may represent a 3rd party’s ownership of your home. Any down payment that you have made on your home, plus payments you have made towards your mortgage, goes towards your home-equity amount. A home-equity loan is when you use the [...]

By | 2016-02-17T16:05:38+00:00 February 17th, 2016|Credit Bureau, Debt management, Home Tips, Mortgage Tips|Comments Off on Is a Home Equity Loan Right for You?

4 Important Benefits of Debt Consolidation Loans

If you’ve managed to accumulate a sizable debt, you’re not alone. Consumer debt is an enormous problem here in Canada and throughout the world. Fortunately, as people increase their financial literacy, they recognize that paying off their debts once and for all is the only way to truly get ahead financially. Some people try to [...]

By | 2016-02-03T20:19:15+00:00 February 3rd, 2016|Budgeting, Credit Bureau|Comments Off on 4 Important Benefits of Debt Consolidation Loans

Five Reasons Why You Should Think about a Mortgage Refinance

Have you purchased a home in recent years? If so, you might want to consider a mortgage refinance. Even if you are happy with your current loan terms, you still might benefit from a mortgage refinance. Today we are going to take a look at several reasons why refinancing your home just makes practical sense. [...]

By | 2017-01-04T00:58:49+00:00 January 14th, 2016|Credit Bureau, Debt management, Home Tips, Investment Properties, Lines of Credit, Mortgage Tips|Comments Off on Five Reasons Why You Should Think about a Mortgage Refinance