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…
Chances are you know someone who has cashed in RRSPs to buy a home, but what’s the catch? What do they get charged? In this post, we look at how it works.
We were recently asked the following questions: what are the benefits of being a first time homebuyer using 5% down payment versus someone who has purchased a home before using a 5% down payment?
This post touches on what exactly is a down payment and the related requirements.