Category Archives: Hypothèque

A place for your kids to live through university: Better to buy or rent?

Monday July 10th, 2017

A place for your kids to live through university: Better to buy or rent?

With the high cost of rent, especially in Quebec City and Montreal, more and more parents are buying condos for their kids to live in while they’re at school. After all, they could probably sell it for a profit down the road. But is buying always the best option? Why buy versus rent? Living in […]
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A mortgage for self-employed : Can it be possible?

Monday June 26th, 2017

A mortgage for self-employed : Can it be possible?

Well yes, it is possible! Qualifying income is the only difference in qualifying for a mortgage between a salaried individual and a self-employed individual . For each situation here is the solution For a salaried individual income is established with a written confirmation of employment , specifying the date of hire , his annual salary, […]
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All homebuyers have to pay a land transfer tax (the “Bienvenue” tax).

Monday June 12th, 2017

All homebuyers have to pay a land transfer tax (the “Bienvenue” tax).

The land transfer tax or duties on real estate transfers is called the “taxe de bienvenue” in Quebec. Bienvenue has no connection with the expression “Welcome [Bienvenue] to your new house”. Rather it is the name of the provincial minister of Municipal Affairs who granted municipalities the right to collect this tax. It is a […]
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Green Homes: How to save up to 25% on your insurance premium

Monday June 12th, 2017

Green Homes: How to save up to 25% on your insurance premium

Did you know you can get up to 25% of your mortgage insurance premium back when you buy an energy-efficient home or when you buy a home and make energy-efficient improvements?   Purchasing or building an energy-efficient home New homes built under one of the energy-efficient building standards set out by the Canada Mortgage and […]
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Mortgage — 7 questions to ask your banker

Monday June 5th, 2017

Mortgage — 7 questions to ask your banker

Negotiating a mortgage is more complicated than negotiating just a rate. Unfortunately, clients too often lose thousands of dollars because they were poorly advised. Here are 7 questions that your banker should be able to answer: What is the penalty if I want to break my mortgage and how is it calculated? Is my mortgage […]
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Debt consolidation via a mortgage

Monday May 29th, 2017

Debt consolidation via a mortgage

Debt consolidation consists in borrowing a single amount of money with a financial institution to pay all of your debts. This way, you end up with a single payment which greatly facilitates the management of your finances. In addition to streamlining your debts into a single payment, a consolidation loan can offer an interest rate […]
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Find out how to calculate the mortgage you can afford

Monday May 22nd, 2017

Find out how to calculate the mortgage you can afford

First of all, it is important to differentiate between the maximum sum that you can afford and the maximum sum permitted by banking and government regulations. In reality, even if financial institutions are ready to offer you a $400,000 mortgage loan, it doesn’t necessarily mean you can afford it because of many contributing factors which […]
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Taking advantage of the CMHC portability option

Monday May 15th, 2017

Taking advantage of the CMHC portability option

Anna and Jeff own a condo. However, with their third child on the way, they need to buy a larger home. Can they take advantage of the Canada Mortgage and Housing Corporation (CMHC) portability option? What is the CMHC portability option? All buyers who provide a down payment of less than 20% of the purchase […]
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Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

Monday May 8th, 2017

Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

The answer to this question depends on your future projects and your current level of debt. In a nutshell, if you already have credit card debts, a line of credit, a personal or car loan, or a high-interest furniture loan, and if these debts are costing you more in interest than your mortgage will, then, […]
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