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…
Real Property Report, what is it exactly and how important is it to our offer to purchase.
You’ll want to make sure you have the best condo insurance coverage in place. We’ll help you understand the different types of insurance and how they apply
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…
Canada’s new tax-free First Home Savings Account kicks in April 1. Here’s what you need to know! The dream of home ownership may be a just little closer this year for Canadians, with the introduction of a new tax-free first home savings account. The new Tax-Free First Home Savings Account (FHSA) rolls out on April…
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…
It is important to understand the pros and cons of a collateral charge mortgage. To do this we’ll start by describing the difference between a collateral charge and a conventional mortgage.
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…
Canadian Mortgage Professionals giving back to the Calgary Community by supporting local charities.
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…
