By: Sunil Saini

First Time Home Buyer Incentive Program

Tags: First Time Home Buyer Incentive Program, First Time Home Buyers, Incentives for First Time Home Buyers

The First-Time Home Buyer Incentive can help you purchase your first home. The main focus of this incentive is to help first-time homebuyers without adding to their financial burdens. If your qualify for this, there will no additional monthly payments. But you must meet minimum insured mortgage down payment requirements.With this incentive, the Government of Canada provides: 5% or 10%...Read More

By: Sunil Saini

Types of Mortgages in Canada

Tags:

types of mortgages in canada, different types of mortgages

First time buyers always wonder as to what their options are about Mortgages. We hope this article helps them understand as to what are different types of mortgages in Canada, and subtypes of a mortgage. There are two types of mortgages in Canada, and each has two sub-types. Type of Mortgages: Open Mortgage – is a type of mortgage which could be repaid to the lender anytime without payi...Read More

By: Sunil Saini

Mortgage Pre-Payment Penalty

Tags: Home Sellers

For home sellers one of the cost that has to be kept in mind is the cost of breaking the mortgage if the completion date is not matching the end of the term for the mortgage. It is tecnically called - PrePayment Penalty. For quite some time, I had been thinking about writing a blog about mortgage pre-payment penalty and the way it is calculated. Recent article about a consumer going public about ...Read More