Are you considering enhancing your living space to accommodate a multigenerational household? The Canada Revenue Agency (CRA) has introduced an exciting opportunity to make this a reality with the new Multigenerational Home Renovation Tax Credit (MHRTC). This valuable credit assists Canadians in transforming their homes by creating secondary units for family members aged 65 and…
Canadian banks are reporting a surge in interest in the newly introduced First Home Savings Account (FHSA) program. This innovative initiative empowers potential homebuyers to kickstart their homeownership journey by saving and investing for a down payment, all while enjoying tax-free benefits! At Canadian Mortgage Professionals, we’re thrilled to keep you in the loop about…
The Benefits of Using Canadian Mortgage Professionals When Going Through a DIVORCE With our broker Bob, having 35 years of experience in the mortgage industry, he has helped hundreds of Canadians mitigate the financial aspect of divorce over the years. We understand divorce can be a complex and emotionally challenging process. Amidst the legal…
With interest on car loans, credit cards, and other debt being significantly higher than mortgage rates, let us help you put a significant amount of your hard-earned cash back in your pocket every month. This savings number can be $100’s, or potentially even $1000’s depending on your scenario, and especially considering current economics. Please feel…
Real Property Report, what is it exactly and how important is it to our offer to purchase.
Credit is important when applying for a mortgage because it gives lenders an idea of your creditworthiness and ability to repay the loan. Basically, lenders use your credit score and credit history to determine the risk of lending you money. A good credit score and credit history indicate that you are a responsible borrower who…
Proposed New Mortgage Regulations Be prepared – Stricter rules around qualifying for a mortgage could be coming this spring. Canada’s banking regulator OSFI (The Office of the Superintendent of Financial Institutions) proposed three new regulations that could further restrict mortgage lending. A review is underway. Potential additions come as OSFI is saying risk around loans…
Property Title Fraud What is property title fraud? And how can you prevent it from happening? Property title fraud is when a person uses fake identification or forged documents to steal the identity of a homeowner. Essentially, fraudsters take away their “title,” or legal ownership of their property. Once fraudsters have their hands on…
Home appraisers look at two key things when making their home assessment.
CO-SIGNING A MORTGAGE With our current real estate market, getting a Mortgage is not as easy as it has been in the past. With rising rates, and more qualification criteria, it is certainly more challenging. But don’t worry – There are many ways that home buyers can get approved more easily. One of the most…