On Jan. 1, the Government of Canada’s Prohibition on the Purchase of Residential Property by Non-Canadians Act came into effect. The new law aims to prevent non-Canadians and corporations controlled by non-Canadians from purchasing some, but not all, residential property in Canada in 2023 & 2024. The Federal Government hopes the Act will expand real estate supply and make homes more affordable for Canadians. But considering the law’s geographic restrictions and its plentiful list of exemptions (both outlined below), I predict the impact on Canada’s housing market will be very limited. Another last-minute addition to the guidelines is problematic and unfair to those folks…
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NEW YEAR, NEW BAN ON FOREIGN HOMEBUYERS
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Holiday Charity Referral Program
Categories: accredited mortgage professional , Broker , calgary real estate , Dominion Lending Centres News , First Time Home Buyer Mortgage , Fixed Rate , Jencor , Jencor Mortgage , lender , Lending , Mortgage
We are so grateful for every referral you give us. To show our thanks for your trust and kind words, we want to give the gift of supporting your local food bank this holiday season! From December 1, 2022 to January 31, 2023 anyone who refers their family and friends to Jencor will be entered to receive a $500 donation to the Calgary Food Bank or the registered Canadian food bank of their choice. How it Works When we receive a call or email from a new client, we will ask who sent them our way. The referrer’s name will then be entered…
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Selling Your Home in Winter
While you might think selling your home in winter is harder, with the right considerations it doesn’t have to be! When selling your home during warmer months, the focus is typically on curb appeal and gardening, as well as having bright colors and patterns to draw out different rooms. While curb appeal should not be forgotten in winter months, the focus should be centered on creating a warm, comfortable, and welcoming space. You can do this through the following: Curb Appeal – If you live in an area that receives high amounts of snow, be diligent about keeping your sidewalk and driveways clear…
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The Real Deal About Transfers and Switches
Most people who are thinking about a transfer or switch want to take advantage of a lower interest rate or get a new mortgage product with terms that better suits their needs.
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When Was Your Last Credit Check-Up?
Just like you should have a physical every year to make sure you’re healthy, you should do the same for your credit report.
Don’t wait until you go to buy something and you are turned down. And don’t worry… checking your own credit does not affect it. So, what should you be looking for?
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The Rate Debate
One of the first questions we hear from buyers is: “What will my interest rate be?”
It is easy to think that this is the most important question, but there is a lot more to your mortgage contract than just the rate. And so, the rate debate continues!
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Vacation and Investment Properties
So, you are looking to purchase a second property. Congratulations! This is a great opportunity for you to expand your financial portfolio and create stability for the future.
Before you launch into this purchase there are a few things you should know, depending on which type of second property you are looking to purchase.
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Home Improvement Loans: Everything You Need To Know
Are you thinking of making a general improvement or renovating a fixer-upper home?
Home renovations can increase the value or habitability of your home. But remodelling projects can be pricey depending on the scale, labour, type of home, permits, and cost of materials. For these reasons, many people consider financing options for home improvements.
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Changing Your Financial Direction
Did You Know? The average Canadian owes $23,000 in consumer debt and has at least 2 credit cards. Source: CBC.ca
If you live paycheque to paycheque, the idea of somehow having enough money to invest and eventually have financial freedom seems about the furthest thing possible.
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What to Consider When Choosing Window Coverings
Are you looking to renovate your home this spring? A great way to spruce up the home without breaking the bank is to replace old blinds!
Here are some tips to consider when choosing window coverings:
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5 Things to Consider When Building Your New Home
Building a new home is an exciting adventure that requires very different considerations. To help you have the best experience building a home, we have put together the 5 most important considerations.
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Use Your RRSP to Help Buy Your Home
Did you know that you can borrow up to $35,000 from your RRSP to buy or build a qualifying home through the Home Buyer’s Plan?
If you buy the home with your spouse, common-law partner, or other individuals, each of you can withdraw up to $35,000. Income tax will not be deducted from the amount withdrawn, and the withdrawal amount will not be included in your income.
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Renting vs. Owning
Buying a home can be a great way to invest in your future.
Real estate tends to see a strong return on investment over the long term. And it makes up part of a well-rounded investment portfolio.
But there’s no doubt about it: buying a home is also one of the biggest financial decisions you will make.
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How Mortgage Rates Are Determined
Chances are you’ve heard of the two most common mortgage product types: fixed and variable (sometimes called adjustable).
But did you know that interest rates for each type are determined by different factors?
While both fixed and variable mortgage rates are impacted by a consumer’s financial health, they are also affected by two distinct largescale economic factors. These factors include activity by the Bank of Canada and by the Government of Canada. Here’s how it works.
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Tis the Season of Staying Motivated
The winter holiday season is often said to be the most wonderful time of the year. However, it is also one of the busiest and most stressful times of the year. There are increased demands at work or in your business. The holidays tend to be socially demanding too. With all this going on at work and in your personal life, it can be very emotionally draining. This time of year is often centered on celebration, family, and friends. The fact is some people find themselves mired in family conflict or feeling lonely, heightening their levels of emotional stress.
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The Perfect Gift for New Homeowners
We’ve curated a list of gifts that are sure to warm new houses this holiday season.
Best of all, these items can all be purchased from local Calgary businesses.
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Must-Know Mortgage Terms
Does dealing with your mortgage ever feel like learning another language? Amortization. Total debt service ratio. Principal. The jargon can feel endless! But we’re ready to translate. Here are some of the most important mortgage terms to know.
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Holiday Charity Referral Program
We are so grateful for every referral you give us. To show our thanks for your trust and kind words, we want to give the gift of supporting your local food bank this holiday season!
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Making The Grade: Common Myths About Credit Scores.
How is your credit score calculated? It is a complex answer and, as such, common myths persist. Today, we are going to help you get a better understanding of your credit score and how to make the grade by busting the most common credit score myths!
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What a Piggy Bank Just Won’t Do
You’ve reached a point in life where your job is going well, and you find yourself not only out of debt, but with some room for savings. You might start wondering, where should I put this money that will not only be safe for the future, but also grow? That’s when you’ll probably start hearing about TFSAs (Tax Free Savings Account) and RRSPs (Registered Retirement Savings Plan).
