If you are a first-time home buyer in Canada, with some RRSP`s saved, you may be able to use them as a down-payment to purchase Canadian property. Here are some rules to know. Maximum withdrawal First-time home buyers in Canada can borrow up to $25,000 of RRSP money tax-free to purchase a home, including shares […]
Read MoreThinking Bankruptcy? Review Alberta rules & exemptions
**First word – Please note that Albertalending.ca is NOT a Bankruptcy Trustee, and the following notes are general information only. The services provided by Albertalending.ca relate to utilizing home equity to consolidate debts, as a possible alternative to avoid claiming bankruptcy.** -Thanks! Are you a candidate for bankruptcy? Read below if you are considering it. I […]
Read MoreRaw Land – Tips for Development
You’ve decided that you want to buy some raw land, but what will you do with it once it’s yours? Do you want to raise cattle? Build your dream home? Use it for a retirement investment? Or develop it so you can quit your day job? Before you start the buying process, it’s best to determine […]
Read MoreRetiring Albertans look to utilize Home Equity as largest source of income
With house prices continuing to rise in Canada, a new survey reveals nearly 26 per cent of Albertans plan to use their homes as their primary source of income after they leave the workforce. The 2014 Sun Life Canadian Unretirement Index also found that 17 per cent do not know if their investment in their […]
Read MoreNEW MORTGAGE RULES – Coming into effect Jan 1st, 2018
Stricter new mortgage rules about who can qualify for an insured mortgage took effect across the country. Canada`s OSFI (Office of the Superintendent of Financial Institutions) is “reinforcing a strong and prudent regulatory regime for residential mortgage underwriting.” Here is a link to the OSFI website. OSFI is setting a new minimum qualifying rate, or “stress […]
Read MoreMortgage Lending? Become the Bank!
PRIVATE MORTGAGE LENDING Mortgages represent one of most common investments in the world – by banks and institutional lenders. Banks like mortgage investing for the same reasons that you probably will. -Good return on investment. -Relatively lower risk than many alternatives. -Private mortgage lending investments are also RRSP-eligible. Generally, most private mortgages are considered “equity” mortgages, […]
Read MoreWhy use a Mortgage Broker?
For people who are inexperienced with negotiating, who aren’t sure what the best mortgage product is for them or have a less-than-stellar credit rating, they can save time, money and hassle by using a mortgage broker. A Mortgage Broker is a valuable resource when making home financing decisions. Many customers shopping for a mortgage have chosen […]
Read MoreCredit Basics
Maintaining good credit – There`s more to it than you think. Read below as you will likely learn something new. The information can apply to anyone – First-time home buyers to existing homeowners looking to refinance. A person`s credit history is stored in a database called a Credit Bureau. Credit Bureaus are privately run companies […]
Read MoreAlberta Mortgage Preapprovals
Looking to finally purchase a home? Congratulations! A chat with a mortgage professional will help put things in perspective. You might be asked about your plans to start a family, how much you are contributing to your RRSP, what your career goals are, how old your cars are. This conversation will get you thinking about […]
Read MoreLow Oil Prices – Regional, National & Global Effects
There are pros and cons to low oil prices. Generally, consumers will benefit from a fall in oil prices. A decrease in oil prices would decrease the transportation cost for people as they would be spending less on fuel. This would essentially mean an increase in the purchasing power of their income which translates into […]
Read More