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.
Improving your credit to qualify for a mortgage. Your credit rating is not the only factor lenders consider. They also look at your net worth and your current income, for example. They will also consider the value of the property and the current state of the market for real estate, as well as the current bank rate or prime lending rate. So don’t look for a precise correlation between your credit rating and the interest rate you will be offered.
PAUL ATTFIELD THE GLOBE AND MAIL Last updated Tuesday, Sep. 16 2014, 12:14 PM EDT Eighty of mortgage broker Dustan Woodhouse’s clients who were approved for a mortgage in 2011 wouldn’t have qualified for the same mortgage today. In the summer of 2012, Canada’s financial regulator introduced Guideline B-20 as a way of tightening up the…
Do you plan to acquire an income-producing property? A store, a strip mall, a small office building or medical clinic? If so, you could use the help of a small commercial mortgage.
If you are in the market for your very first mortgage, you have none of these advantages. Here are some tips to get the mortgage you need at the best possible rate.
For many with unique borrowing requirements, an “out of the box” approach is required. Alberta Mortgages has a large network of Private and Non-Traditional Lenders that can tailor a solution to meet your own specific needs.