NEW MORTGAGE RULES

  Concern over rising consumer debt levels has prompted Ottawa to make implement the following three new changes to Canada’s mortgage rules. Reduce the maximum amortization period to 30 years from 35 years for government-backed insured mortgages with loan-to-value ratios … Continued

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Minimum down payment expected to increase

While there has been a lot of speculation that the Department of Finance would implement legislation to increase the minimum down payment from five to ten percent of a home’s value, it did not happen. Instead, they announced on Tuesday, … Continued

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How do I apply for the Land Transfer Tax Rebate?

If you are purchasing a home in Brampton or anywhere in the GTA area, your lawyer will probably complete the appropriate tax statements in the electronic land registration system, and the refund will be deducted automatically from the land transfer … Continued

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Take advantage of the Home Buyers’ Plan

Use the money in your RRSP’s to take advantage of the Canada Customs and Revenue Agency Home Buyers’ Plan. First-time homebuyers purchasing a home in Brampton may withdraw up to $25,000 (tax-free) from their RRSP, and use it as a … Continued

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Rebuilding your credit after bankruptcy

There is no don’t need to hire a professional to help repair your credit. You can do it on your own by simply following these tips. 1. Apply for a bankruptcy discharge. If you have never been previously bankrupt, you … Continued

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