Mortgage fraud is on the rise and 16% of Canadians believe it is a victimless crime. Falsifying documentation to get a mortgage or lying on your application are grounds for a lender to cancel your mortgage and could lead to criminal charges.
How to borrow from your RRSP to buy a home
Many home buyers have heard that you can withdraw (or borrow) money from your Registered Retirement Savings Plan (RRSP) to use toward their down payment without paying taxes. While this is true there are conditions. It's not really a withdrawal because you have to repay it over a fixed period of time. This strategy falls under what Canada Revenue Agency (CRA) calls the Home Buyers Plan (HBP).
Do you know all the costs of buying a home?
It's easy to get caught up in the excitement of home shopping. With every open house we visit, we start to imagine what it would be like to live in our very own home. With all this excitement we often overlook the many surprising and stressful costs involved in this purchase.
Interest Rate Forecast
There have been some updates to interest rate forecasts since our last review of rates in December. The overall trend is upward but there are differing opinions on how high rates will rise.
What you need to know about Private Lenders
There are many benefits to dealing with Private Lenders, but they are usually not suitable as a long term solution to financing your home. Find out how they work, what they cost, and when to use them.
Why do you need title insurance?
Most people don’t learn about title insurance until they’re signing documents at their lawyer or notary’s office and they learn they can pay a little extra for some insurance to cover an unlikely event. At Mortgage Sandbox, we believe it’s worth every penny and this article explains why buying it is a no-brainer.
Who have been the big winners in Metro Vancouver condo investments?
Find out which condo markets in Metro Vancouver have had the biggest price gains in the past 5 years.
How to Cut Through the "Noise" in Real Estate News
Balanced and honest insights into how to read and interpret real estate news, so you can cut through the smoke and mirrors.