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Thursday, July 7th, 2022

Paying off your mortgage faster can pay huge dividends

Paying down your mortgage faster. It’s one of those boilerplate suggestions that financial advisers love to make to their clients. After all, throwing extra money at the biggest debt most Canadians have can result in big interest savings and being mortgage-free years sooner. So why isn’t everyone doing that? According to a spring analysis by […]

What to look for on your 2013 income tax return – Ask a Vancouver Mortgage Broker

What to look for on your 2013 income tax return It’s another good year for do-it-yourself tax filers. There aren’t too many tax changes and one really lucrative new tax credit. There aren’t too many personal tax changes on this year’s tax return, but make sure you maximize credits and deductions. By: Evelyn Jacks Special to The […]

More self-employed hitting mortgage wall because of recent rule changes

For years, most of Marg Green’s self-employed clients could count on getting a mortgage on the strength of their credit score, and on their word that they were earning enough from their business to repay the loan. These days, because of rules brought in almost two years ago by the regulator of the country’s chartered […]

Here’s why paying off your mortgage isn’t always the best idea – Consult with a Vancouver Mortgage Broker

It amounts to financial heresy to some conservative investors but paying down your mortgage early just might not be the best plan. Should you rent or own your home? People say that when you grow up, you buy a home. Who are these “people?” Your married friends, your parents and other grown-ups who ask: “Don’t […]

Canadians saving more, but are they making the most of their savings? – Ask a Vancouver Mortgage Broker

Recent data indicate that Canadians are saving more. Statistics Canada reports that the Household Savings Rate is currently 5.4%, a 0.4% increase from the previous year. Likewise, a recent BMO Bank of Montreal study found that 48% of Canadians are now investing in Tax-Free Savings Accounts (TFSAs), a 23% increase from 2012. It’s good that […]

Why it’s harder for self-employed to get a mortgage – Contact a Vancouver Mortgage Broker

May 19, 2013 by  
Filed under Recent News

Why it’s harder for self-employed to get a mortgage Self employment is more common, but banks are more cautious about giving mortgages to people who fall into this category. By: Ryan Starr Staff Reporter., Published on Fri May 10 2013   Vick Vij knows all about the challenges self-employed folks face when they try to get a mortgage. […]

Even in a real estate slump, Canadians lured into bidding wars- Consult with a Vancouver Mortgage Broker

Garry Marr More from Garry Marr | @DustyWallet People still willing to jump into real estate bidding wars might want to ask themselves why they want to be part of such a buying frenzy in this softening market. Get ready condo flippers, Canada Revenue Agency is hunting you With the deadline for filing taxes this month, you might […]

Ottawa chastised for handling of TFSA tax rules

The Canada Revenue Agency should have been more active in fulfilling its responsibility of letting Canadians know the tax consequences of the Tax-Free Savings Account (TFSA), says a new report from the federalTaxpayers’ Ombudsman. Although the rules regarding withdrawals and over-contributions were available on the CRA’s website from the start of the program, the report released Monday said the […]

Easing the tax hit for investment property owners

Whether it’s a duplex, a cottage or a Florida getaway, a second property can be a rewarding investment over time. But if you’re not careful, it can prove taxing as well. A little planning goes a long way. The following are some common mistakes financial planners see in their practice, as well as some tips […]