Applications are now being accepted by the Saskatchewan government for their new program, the First Home Plan. The program allows eligible post-secondary graduates to borrow up to $10,000 of their unused Graduate Retention Program (GRP) tax credits in order to use it for the down payment on their first home.
How a Debt Consolidation Loan Can Help You Get Debt-Free
Do you find yourself struggling under a mountain of debt with no end in sight? Do you have trouble keeping track of your many loan and debt payments each month? A debt consolidation loan is merely a loan that allows you to consolidate — or combine — your debt into one loan. With a single…
Don’t Say The R Word!
The word “recession” can sometimes cause many of us to sit back and worry about the state of the Canadian economy, the stock market, real estate prices and our job security. A recession is generally defined as two successive quarters of decline in Gross Domestic Product (the total value of goods produced and services provided…
Should You Walk Away From Your Mortgage?
Walking away from your mortgage is a choice you cannot make lightly. You are expected to make payments on your mortgage for the foreseeable future, and your lender will not appreciate your desire to walk away from the house. This article explains how you can walk away from your mortgage with the least amount of…
What You Need to Know About Variable Rates and Mortgages
There are a number of different options for taking out a mortgage on a home. One of these is a variable rate mortgage. However, you may be wondering what a variable rate actually is. To help, below is an explanation of what variable rate mortgages are, how they work and who they may benefit. …
Understanding Mortgage Amortization
Amortization is the reduction of a home mortgage by making payments to both the principal (what you originally borrowed) and the interest in differing ratios over the period of the loan. Your amortization schedule will break down how much of your monthly payment is applied to the principal balance and how much is allocated to…