The land transfer tax rebate for first-time buyers can be used as closing costs or reinvested to accelerate repayment. B-Lender Mortgages provide financing to borrowers declined at standard banks but include higher rates. Different rules apply to mortgages on new construction, including multiple draws of funds during building. Lump sum payments through double-up or accelerated […]
Mortgages with variable rates or shorter terms often feature lower interest rates but greater uncertainty on future payments. Self Employed Mortgages require borrowers to deliver additional income verification in the increased risk for lenders. Canadians moving for work can deduct mortgage penalties, real-estate commissions, legal fees and more against Canadian employment income. Lower ratio mortgages […]
First time homeowners with limited down payments can utilize programs like the First Time Home Buyer Incentive. Self Employed Mortgages require extra verification steps because of the complexity of documenting more variable income sources. Fixed rate mortgages offer stability but reduce flexibility compared to variable and adjustable rate mortgages. Government guarantees on mortgage backed securities […]
