Purchasing

mortgage broker

New 30-Year Amortization for First-Time Home Buyers & Newly Constructed Homes

As part of Canada’s 2024 budget, the government has extended amortization periods for insured mortgages to 30 years, effective August 1, 2024. This extension is available to first-time buyers purchasing newly constructed homes.   The strict criteria for this program significantly limits the number of buyers it will assist, but it will be beneficial for some. …

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renting a family home

Navigating Mortgages with BC’s New Tenant Notice Period

Good news for prospective homebuyers in British Columbia! On July 18th, 2024, the BC government introduced new Residential Tenancy Regulations, which included several changes aimed at better protecting tenants. However, one of these changes created a significant challenge for buyers looking to purchase properties with existing tenants. The initial rule extended the tenant notice period …

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insurance

Insurances

All the types of insurance discussed during your mortgage application can be confusing. Here is a breakdown to help make sense of it all. In this quick guide, we’ll break down the key insurances you’ll encounter during your home buying journey. Default Insurance What is it? Default insurance is a type of insurance that becomes …

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