First-time homebuyers who are Canadian residents can now withdraw (as of March 2019 budget) up to $35,000 from their RRSP TAX FREE. If you have a partner, that means that you can each withdraw up to $35,000 for a total of $70,000 to build or buy a qualifying home.
Last updated: May 2019
If you are a first time homebuyer wondering what where you can get your down payment, and how long the money has to be sitting in your bank account, here's a source list applicable to all Canadian mortgage borrowers:
(Last Updated: 2019)
Money can't buy you happiness, but it sure can help you reach some of your life goals. But your money won't manage itself. Reaching your first goal as a first time home buyer takes planning, and sometimes guidance from an outside source, like a mortgage planner. Here are five basic steps for reaching your financial goals.
Last updated: May 2019
As a mortgage broker, one of the things I hear over and over again, especially with younger buyers, is that they think they have some credit report items that will prevent them from getting a mortgage. While that may be true, more often than not, it is actually a lack of down payment savings and/or too much personal debt that is the real culprit.
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Our Richards Mortgage Group blog is a wealth of information for anyone looking to apply for a mortgage to purchase or refinance a property. Browse through the articles and find the topics that are most useful to you in your home mortgage information search. Find out if You Can Get a Mortgage here.
