Blog
The Ins and Outs of a Home Improvement Mortgage
Home renovations are a hot topic when we get into the warmer months of the year. Not many people realize they can refinance their mortgage to access home equity to fund their renovation. Leveraging your mortgage for renovations isn't only for those who are already...
First Time Home Buyer’s Tax Credit
First Time Home Buyer's Tax Credit Not many people know that as a first time home buyer, you may be eligible for up to a $750 tax credit on your 2017 income taxes! This article explores the major points of this claim, however, it's always important to consult your tax...
Mortgage Renewal Process
The Mortgage Renewal Process When your mortgage term is over, it's time to begin the mortgage renewal process. Mortgage terms are usually 5 years, so at the end of your 5 years your mortgage broker should be in touch to give you information on your renewal. Remember...
10 Common Mortgage Mistakes You’re Making
10 Common Mortgage Mistakes You're Making Congratulations! You're on your way to home ownership. But have you been doing all you can to ensure the smooth sailing of your mortgage approval? From pre-approvals to small decisions, there are many factors to consider when...
Canada’s New Mortgage Rules 2018
It’s been a year since the Minister of Finance made the previous rule changes (Oct 2016) to home purchases for down payments that were less than 20%. These purchases required stress testing and to be able to debt-service at the Bank of Canada benchmark rate (which is...
Purchasing A Second Home: What You Need To Know
Purchasing a second home is becoming more and more popular amongst Canadians. A second home could be anything from a cabin getaway to a rental property. Many people have dreams of…
How Does Marriage Affect Your Mortgage?
When applying for a mortgage, your relationship status plays a significant role in how you will go about the process. Getting a mortgage can either be made easier, or more difficult…
Tim Lacroix Celebrates 10 Years As A Calgary Mortgage Broker
To celebrate this exciting milestone, we’re doing 10 weeks of giveaways on Facebook! Visit Calgary Mortgages by Tim Lacroix on Facebook to enter this week’s draw! Due to Tim’s 10 years anniversary of being a mortgage broker in Calgary, each week there will be a winner…
A Guide To Organizing Your Finances
Have you thought about Financial Spring Cleaning? Take a minute to go through this guide and get your finances set up for the year. This guide is also great for any young adults just starting out on their own who need a hand…
Understanding Your Credit Score
One of the most important aspects of your financial well being is your credit. In order to make any major purchases in your lifetime, such as a home, you will need to have a good credit history…
On March 17, Mortgage Insurance Premiums Will Increase
Mortgage Insurance is designed as a safe guard for your mortgage in the event that you cannot make your payment. If you cannot provide a 20% down payment…
RRSP: Registered Retirement Savings Plan Season Is Here!
We are half was into the first 60 days of the year and it’s time to think about contributing to your RRSP. You have until March 1st, 2017 to reduce your 2016 income and get a higher tax refund…
How To Get A Mortgage While Being Self-Employed in Canada
Being self-employed should not be a barrier to getting a mortgage. With mortgage rules being tightened at banks the last few years, getting a mortgage is a lot harder- especially self-employed mortgages…
How to Purchase a Home – from Mortgage to Possession
There are many steps involved in purchasing a home, which makes it a daunting experience. Whether you are purchasing your first home or you haven’t purchased a home in long while, you might be wondering where to start. This is why we have developed a step-by-step guide on how to purchase a home…
Calgary’s First-Time Home Buyers Need to Rethink their Strategy
First-time home buyers in Canada have been forced to rethink their plans with the new mortgage rules in place. With the new rules, it’s more difficult to qualify for a mortgage and get the home you want, which is why you need an experienced mortgage broker now more than ever. First-time buyers are heavily affected…
How Will the New Mortgage Rules Affect You?
It’s been about 2 months since the Department of Finance (DOF) announced some mortgage rule changes. Some of the rule changes I would agree as being prudent, but others just seem unnecessary in my view. I’m concerned for young families who may now have a harder time achieving their dream of home ownership. This is not a short…
Bank of Canada Leaves Key Interest Rate at 0.5 percent
Announced last week, the Bank of Canada (BoC) decided to leave its benchmark interest rate at 0.5% and according to economists, this is no surprise. Between the years of 1990 to 2015, the Canadian interest rate has fluctuated in the following way: Average Interest...
The Bank Of Canada Rate Drop
What Does It Really Mean? The economy is a bit crazy right now. The oil prices and shift in leadership has created an atmosphere of concern and uncertainty. People are differing key financial decisions in lieu of the unknown. I believe that with access to the right...