How much is the land transfer tax in your province? All provinces have a land transfer tax, with the exception of Alberta and Saskatchewan.  Ontario, British Columbia, Prince Edward Island and the city of Toronto offer land transfer tax rebates for first-time homebuyers. Thinking about purchasing some property? Make sure you review land transfer taxes…

Make a budget and learn how to manage your mortgage money better. We already looked at the costs outside of securing a low mortgage rate, the purchase price that you should expect to pay, and the costs associated with moving in. Now it’s time to take a look at your ongoing monthly expenses, how to pay…

Can your budget handle a rate increase? There’s a lot of talk about Canadian mortgage rate increases.  The single biggest investment most Canadians make is their home; this represents almost 40% of the average family’s total assets. The big problem right now is many Canadians are living in homes they won’t be able to afford once interest…

It’s time to start bargaining!  It goes without saying that you want to secure the lowest possible mortgage rate. With that being said, negotiating your best mortgage rate will entail a bit of homework. This way, you’ll be able to hammer out a fair request. Here are a few tips on how to negotiate the…

Think you’re ready to become a homeowner? Here’s how you can tell! 1) You have a budget Factor in homeowner’s insurance, property taxes, fees, maintenance costs, and the best available mortgage rate.  2) You have a sizeable down payment. Traditionally, you’ll need a down payment worth 20% of the home price. 3) You have a reliable…