The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage costs by the government contributing to part of the home purchase. Basically, it's a shared equity mortgage with the Canadian Government.

The government implemented changes in the Spring of 2021 to help more buyers to qualify ...

Many parents are helping their children buy their first home by providing money for their mortgage downpayment. If you are also thinking of helping your kids with their home purchase, you may want to consider the Family Equity Plan instead of gifting your cash directly to your children.

You can ...

Seven things mortgage brokers advise that you should avoid during the mortgage application process:

1. Don’t change jobs, or quit your job. Brokers cannot utilize your income if it’s probationary.

2. Don’t buy a car, truck or van with a payment plan before a home. 

3. Don’t use credit ...

When buying a home, the mortgage process can be overwhelming. Knowing the key terms that are part of it can help reduce confusion and help guide your first conversation with your mortgage broker.

Amortization

Length of time over which the mortgage will be repaid.

Mortgage Term

Length of time that ...

The Greater Vancouver Real Estate Board, together with the BC Real Estate Association, has been lobbying the government for years to increase the First Time Buyers' Program threshold, as it's difficult to purchase a home under $475,000 in Greater Vancouver. They asked the government to increase the resale ...

Would you like to help a family member buy their first home or help them move up to a house with a basement suite (mortgage helper) to accommodate a growing family?

Accumulating enough down payment funds is often the biggest challenge for home buyers (especially with the new mortgage rules ...

If you’re thinking of shopping for a new home, one of the first considerations is price range. You want to know what you can reasonably afford.

How do you figure that out?

First of all, you need to determine the initial out-of-pocket costs. There are often more costs associated with ...

Budgeting for a new home can be tricky. Not only are there mortgage installments and the mortgage down payment to consider, there are a host of other—sometimes unexpected—expenses to add to the equation. The last thing you want is to be caught financially unprepared or blindsided by taxes and other ...