RRSP for Down Payment


A lot of my clients, when  buying a house for the first time ask me whether they can use the RRSP to pay the down –payment. The answer is yes, if you a first time home-buyer the federal government allows you to use up to 20,000 dollars from your RRSP. However it is required that [...]

Costs of Buying a House


There are numerous direct and indirect expenses related to obtaining a mortgage. Not all the following expenses will be applicable in your case, but it is helpful to be aware of them. There are also additional expenses that do not relate directly to the mortgage itself, including legal fees and disbursements, provincial land-transfer filing fees [...]

How much down payment do I need?


You can buy a property with as little as 5 % down payment if you have adequate income and your credit is good. However, what you should consider is, when you put only 5% down payment you incur a CMHC cost of 3.25 % of your total mortgage. Now this amount isn’t a pocket expense [...]