Downpayment

/Tag: Downpayment

Canadian Mortgage Rules

Changing regulations in Canada’s mortgage market Since 2008, the federal government has made several changes to the rules for mortgages insured through the Canada Mortgage and Housing Corporation (CMHC) and other private sector mortgage insurance providers. These rules affect home buyers with less than a 20 per cent down payment and these changes will impact [...]

By |2017-01-04T00:58:58+00:00October 31st, 2013|Mortgage Tips|0 Comments

RRSP Home Buyers’s Plan

One great source of funding for your mortgage down payment is a Registered Retirement Savings Plan (RRSP). The Canadian government's Home Buyers' Plan allows you to borrow from your RRSP up to $25,000 for a down payment, tax-free. Since this is a loan, it must be repaid, and the repayment term is 15 years. First-time [...]

By |2017-01-04T00:59:11+00:00August 28th, 2011|Mortgage Tips|1 Comment