Found 2 blog entries tagged as home purchase.

Using Your RRSPs to Purchase a Home

When looking at purchasing a home, one thing that many people are concerned about is the ability to put a down payment on the property. A 20% down payment of the purchase price of the home is typically required. If a 20% down payment is not doable, then a 5% option is available. However, you are then required to have mortgage insurance through CMHC to be able to qualify for the mortgage.

Regardless if it is a 5% or 20% down payment, the government of Canada allows home buyers to use their RRSPs to purchase a home without a penalty for withdrawing the RRSPs. This is called Home Buyer’s Plan or HBP.

However, before you withdraw anything, the following conditions must be met:

The maximum amount you can withdraw…

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SAVE YOURSELF SERIOUS DIAPOINTMENT AND GET PRE-APPROVED

FOLLOW THESE TOP TIPS FOR GETTING YOUR DREAM HOME

 

Getting the right Mortgage is very important. Getting the right mortgage pre-approval is critical.

 

Are you considering buying a home?   Make sure you take the right steps before you look at potential homes and save yourself some major disappointment. Lots of eager home buyers rush to the market and start looking at homes before checking to see what they can and cannot afford.

That is probably the worst thing anyone can do!

Many times, I have had people call me up and ask to see a home that they found on the web and have fallen in love with. I often caution them once I meet them at the home that if they have not yet talked…

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