Difference Between Deposit and Downpayment

If you’re new to the home buying process, it’s easy to get confused by some of the terms used. The purpose of this article is to clear up any confusion between the deposit and downpayment. What is a deposit? The deposit is the money included with a purchase contract as a sign of good faith […]

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  • October 20, 2021
  • Blog

Using an RRSP for a Home Purchase

Did you know there’s a program that allows you to use your RRSP to help come up with your downpayment to buy a home? It’s called the Home Buyer’s Plan (or HBP for short), and it’s made possible by the government of Canada. While the program is pretty straightforward, there are a few things you […]

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  • October 13, 2021
  • Blog

If You’re Looking to Sell Your Property, Start Here

If you’ve been thinking about selling your existing property, for whatever reason, it would be in your best interest to connect with an independent mortgage professional before calling your real estate agent or listing it yourself. And while talking with your mortgage professional might not sound like the most logical place to start, here are […]

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  • October 6, 2021
  • Blog

What Is a Reverse Mortgage & Is It the Right Fit for You?

A reverse mortgage is a financial option specifically designed for homeowners aged 55 and over. Under a reverse mortgage, you can get a loan secured against your Kelowna home’s value. This type of mortgage will enable you to convert into cash up to 55 percent of the value of your home. You will maintain ownership […]

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Downpayment Options

Your downpayment refers to the initial payment you make when buying a property through mortgage financing. A downpayment is always required when purchasing, because in Canada, lenders are only allowed to lend up to 95% of the property value, leaving you with the need to come up with at least 5% for a downpayment. In […]

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  • September 29, 2021
  • Blog

Pay Down Your Mortgage Faster

Being a home owner is excellent, having a huge mortgage isn’t. So, if you have a mortgage that you’re looking to get rid of as quickly as possible, here are four things you should consider doing. Accelerate your payments Making the change from monthly payments to accelerated bi-weekly payments is one of the easiest ways […]

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  • September 22, 2021
  • Blog

Lowering Your Overall Cost of Borrowing

If you’re like most Canadians, chances are you don’t have enough money in the bank to buy a property outright. So, you need a mortgage. When you’re ready, it would be a pleasure to help you assess and secure the best mortgage available. But until then, here’s some information on what to consider when selecting […]

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  • September 15, 2021
  • Blog

Before You Co-Sign a Mortgage

So you’re thinking about co-signing on a mortgage? Great, let’s talk about what that looks like. Although it’s nice to be in a position to help someone qualify for a mortgage, it’s not a decision that you should make lightly. Co-signing a mortgage could have a significant impact on your financial future. Here are some […]

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  • September 1, 2021
  • Blog

Protect Yourself with a Pre-Approval

There is no doubt about it, buying a home can be an emotional experience. Especially in a competitive housing market where you feel compelled to bid over the asking price to have a shot at getting into the market. Buying a home is a game of balancing needs and wants while being honest with yourself […]

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  • August 25, 2021
  • Blog
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