The First Time Home Buyers’ Plan
In Canada, the First-Time Home Buyers’ Plan allows individuals under 50 to withdraw funds from their Registered Retirement Savings Plan (RRSP) to purchase their first home. This program helps individuals save for a down payment, and contributions made to RRSP may also provide tax benefits by reducing taxable income. Breakdown of the Home Buyers’ Plan […]
Buying a Home With Your Parents
In Ontario, buying a home with your parents typically involves a co-ownership arrangement where they get added to the property title. When parents go on the title with their child, it can positively impact the borrowing capacity of the primary borrower (their child) due to a combined income and creditworthiness, potentially helping you qualify for […]
Things to Consider Before Co-Signing a Mortgage
Co-signing a mortgage is a big responsibility that should not be taken lightly. Before agreeing to co-sign a mortgage, it’s important to understand the responsibilities, risks, and potential benefits involved. In this article, we will explore the key things to consider before co-signing a mortgage in Ontario. What is Co-signing? Co-signing is when a person […]
Buying a House with No Down Payment?!
Do you dream of owning a home, but struggle to come up with a substantial down payment? You’re not alone. Many aspiring homebuyers face the challenge of scraping together the minimum 5% down payment required by most lenders. However, there are alternative financing methods and creative approaches that can make homeownership a reality, even if […]
