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CMHC will no longer accept applicants under their Self Employed program who own and incorporate a company. CMHC will still however do “sole proprietor” under that program...

If you are a new immigrant and thinking to purchase a home or rental home in Canada, here is a good program: * 30% down payment, can be owner occupied or rental...

(Ottawa March 3, 2009) - As expected, the Bank of Canada aggressively reduced another 0.50% on the overnight lending rate. The bank's current prime rate is reduced from 3.00% to 2.50%...

Do you have a Citi bank mortgage up for renewal...

Jan 20th, 2009, Bank of Canada announced yet another rate cut by 0.50% from 3.25% to 2.75%. The previous rate cut was last year December 9th.Major banks and lending institutions in the previous rate cut followed only 0.25%...

Effective December 8, 2008, the following changes have been implemented to the Genworth BFS Program...

Prime rate has been cut by 0.75% by Bank of Canada.Current Prime Rate: 3.25% The outlook for the world economy has deteriorated significantly and the global recession will be broader and deeper than previously anticipated. Global financial markets remain severely strained...

What is debt consolidation?If you have numerous credit card debts at high rates, plus auto loans, retail loans, and etc..., it maybe better off to consolidate all debt into one account - if you own your primary residence.How does it benefit me?There are numerous benefits...

Flex Down" actually has been around for some time. Flex down (CMHC program) is available for an "employed individual" who receives salary, or for "self employed" only if he/she claims sufficient income to debt service...

Beginning on Monday, November 10th, CitiFinancial Canada will no longer make loans above 95% loan-to-value...

Canada Mortgage and Housing Corp (CMHC), a government-run agency, will buy as much as C$25 billion ($21.6 billion) in mortgages from the banks, Finance Minister Jim Flaherty said today in Ottawa. The lenders will get cash, giving them more money to lend to consumers and businesses...

Keep your taxes up to dateIn order to qualify for a mortgage, home buyers must submit a credit history and declare all outstanding debts. They must also provide documentation of their income.With salaried individuals, banks generally ask to see a letter of employment and a pay stub...

Thru specific local lenders, we have access to get you a 100% financing for an owner-occuipied commercial properties.Thus, if you run a business and currently lease the place. You should look deeper to this opportunity...

This tip would generally apply on real estate investors. If the appraised value is at $500,000 and you are purchasing it for $400,000. There is a $100,000 built-in equity.What you can do is to use a short-term money source as down payment to purchase the house at $400,000...

With specific lenders through broker channel, you may do a 97% financing with 3% cash back option for closing cost or renovation. This product is still around.The key thing here is that this 3% cash back cannot be used as down payment. Thus, you will need to come up 3% cash as down payment...

Oct. 21 (Bloomberg) -- The Bank of Canada reduced its main interest rate by a quarter of a point, less than economists predicted, saying it will probably need to act again to fend off the effects of a credit crisis and global recession...

Mortgage Borrowers Pushed To Lock In Variable Rates - 15 Oct 2008 National Post-Garry MarrCanadian banks are trying to convince consumers to lock in their mortgage rates because more than 20% of the home loans they have negotiated have become unprofitable, according to industry...

Bernanke’s Push for Global Cut Began With Trichet, King Talks - By Scott Lanman (Bloomberg) Oct. 9 - Federal Reserve Chairman Ben S...

As of Oct 15th, 2008, if you have been following the mortgage news, there will be no more "zero" down payment insured by CMHC, AIG, or Genworth...

Yes. We do commercial purchase for up to 100% financing...

If you purchase land or an interest in land, you may be entitled to a refund of a Provincial Land Transfer tax.In Ontario, qualified first time home buyers may be entitled to a refund of a provincial Land Transfer Tax up to a maximum of $2,000 or a home priced up to $227,500...

RRSP Homebuyers PlanAs a first time homebuyer, you are allowed to withdraw up to $20,000 from your RRSP without penalty. This amount can be doubled with your partner to a total of $40,000. RRSP Homebuyers plan must be repaid over a period of 15 years...

A few major reasons for mortgage defaults are:- Marriage breakdown- Loss of employment / failure of business- Over extended credit / people living beyong their means- Revenue Canada judgement / other large judgement- Health problem / addiction / substance abuseWhen you are in arrears for mortgages,...

Private fund not only includes private money from investors, it could also be money from instituational mutual funds, international funds and other sources.Some examples that we will find you funds for include:-Commercial, Industrial & Residential Mortgaging-Land & Development Lending-Specialized...

Effective immediately:ING BankFirstline TrustTD Canada TrustG & F Financial (BC only)Effective July 23/08Laurentian BankEffective July 24/08National Bank of CanadaPlease note, this applies for new deals only.

MORTGAGE INSURERS PUSH TO KEEP ZERO-DOWN LOANS - Financial Post, July 16/08Private mortgage insurers are pushing for ways to keep no-money-down mortgages alive and are set to meet with Department of Finance officials in the next two weeks to discuss possible options, sources indicate.The move comes...

Bank of Canada holds line again on key interest rateLast Updated: Tuesday, July 15, 2008 9:49 AM ETThe Bank of Canada has cut its economic growth outlook for the country this year, and left a key interest rate unchanged on Tuesday...

Tax deductible mortgage has been very popular recently. This product, however, has actually been around a while...

Administrative Steps to Claim the ExemptionEnsure all the required steps are taken when a purchaser claims the first timehome buyers exemption to avoid confusion and processing delays...

The following mortgage requirement does NOT apply to property purchases register prior to February 20, 2008.Mortgage Paydown RequirementsThe mortgage paydown requirements described in this section are NOT applicable to property purchases registered on, or after, February 20, 2008...

Occupancy RequirementThe purchaser must occupy the residence as his or her principal residence within92 days of the transfer being registered at the Land Title office.The purchaser must then continue to use the residence as his or her principal residence for at least one year after the date the...

Most lenders and banks do not lend to "not landed new immigrants". Non-landed immigrants have Social Insurance Card (SIN) starts with "9 xx xxx xxx"...

Yes. 100% Financing exists. Here is 1 of the 5 ways:Method 1: 100% Financing with Insured MortgageThe obvious and the most straight forward one...