UNVEILING THE FIRST-TIME HOME BUYERS' TAX CREDIT (HBTC)

Posted by Corey Sylvester on December 4th, 2023

UNVEILING THE FIRST-TIME HOME BUYERS' TAX CREDIT (HBTC)

Embarking on the path to homeownership is a thrilling journey, especially in a country where the average property price, as of October 2023, stands at a substantial $656,625. With cities like Toronto and Vancouver witnessing even higher figures, the dream of owning a home can seem like an uphill financial challenge for many Canadians. Here in Edmonton, the average single-family home price is much more affordable at $467,000 as of November 2023. However, the key to turning this dream into reality lies in unlocking the full potential of available financial assistance programs. A notable statistic reveals the average property price, shedding light on the urgency for prospective homeowners to leverage…

804 Views, 0 Comments

First time home buyer? Here is the purchase process in 8 steps.

Posted by Corey Sylvester on January 24th, 2017

 

Purchasing a home is an exciting time, whether it’s your first or fifth. There are so many possibilities and opportunities associated with a new home, like a shorter commute to work or a new school and set of friends for the kids, more space for the family or the back yard you’ve been dreaming of, entertainment space to host get-togethers, a man-cave or spa-like ensuite bathroom. Whatever you’re excited about, the home buying experience will deliver it, along with a host of other emotions.

With all the excitement, stress will likely be along for the ride. There are many moving parts in a home purchase. You will need to view several homes, which can be taxing on your schedule. Once you find a new home you may not be the only person interested…

9992 Views, 0 Comments

Recent Mortgage Rule Changes

Posted by Corey Sylvester on January 11th, 2017

 

New Mortgage Rules And What It Means For You

(written November of 2016) 

 

Effective October 17, 2016 (announced on October 3, 2016), mortgage rules changed for you and every other Canadian. In an effort to get control of Canadians borrowing, and to help cool over-heated markets like Vancouver and Toronto, the Canadian Government implemented some new borrowing rules for Canadians who are purchasing homes.

So what was changed?

They have implemented what is called an interest rate “stress-test.” How it works, is: 

 “To help ensure new homeowners can afford their mortgages even when interest rates begin to rise, mortgage insurance rules require in some cases that lenders “stress test” a borrower’s ability to make their mortgage…

11593 Views, 0 Comments