What is typically seen in an assignment purchase in Real Estate is the following.  One party purchases a property pre-construction from the builder.  Prior to taking possession, they sell their right to buy this property to a third party (party two), who is the new purchaser of the property.   It can be of benefit […]

Not all mortgages are created equal, and this is especially true when it comes to the way that some lenders calculate their penalties.  For the majority of fixed rate mortgage contracts, the penalty is described as the greater of 3-months interest, or Interest Rate Differential (IRD).  What is not typically explained is how IRD is […]

Searching to find the right home is quite challenging.  There are a lot of things to consider – is it a good neighbourhood, are there good schools close by, shopping, close to work, or parks.  Once you’ve found the right neighbourhood, finding a great home can be more of a challenge, as often the homes […]

Before talking about which is better, it’s important to first understand the difference between a fixed and a variable rate mortgage.  With a fixed rate mortgage, your rate and payment remain the same for the term of the mortgage.  Since the interest rate does not change throughout the term, you know in advance the amount […]

When you’re applying for a mortgage, there is sometimes confusion with respect to the amortization.  Putting it simply, the amortization is the number of years it will take you pay off your mortgage.  This is not to be confused with the term of the mortgage.  As with most things, there are both advantages and disadvantage […]

The next few posts will be geared towards first time home buyers, today talking about down payment the Home Buyers’ Plan & mortgage default insurance (CMHC). The minimum Down Payment required for the purchase of a house is 5%, though the minimum may be higher based the purchasers’ circumstances.  This can come from an individuals’ […]

It’s Valentine’s Day, the day for flowers, romantic movies and candle lit dinners.  On this day, when you’re sitting across from the one you love, there is nothing more romantic than discussing credit.  Alright, so that is probably not true.  Sometime later however, when you’re looking to start a life with your Valentine, there is […]

With RRSP season in full flight, a lot of you may be wishing you had funds available to invest in your RRSP.   If used correctly, an RRSP investment can reduce your income tax and at the same time, build wealth for your future. To take advantage, many Canadians are opting to use the equity in their […]

What is typically seen in an assignment purchase in Real Estate is the following.  One party purchases a property pre-construction from the builder.  Prior to taking possession, they sell their right to buy this property to a third party (party two), who is the new purchaser of the property.   It can be of benefit […]