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Home Mortgage Interest Deduction Canada: Key Facts You Should Know
Posted January 16, 2025
Posted January 16, 2025
What is Home Mortgage Interest Deduction Canada? In Canada, the home mortgage interest deduction allows taxpayers to deduct interest paid on loans used to earn income from a business or property. This means that if you have a mortgage on a property that generates rental income, the interest portion of your mortgage payments is generally...
Variable Open vs Variable Closed Mortgage: Key Differences Explained
Posted January 16, 2025
Posted January 16, 2025
What is a Variable Closed Mortgage in Canada? A variable closed mortgage in Canada combines the benefits of a variable interest rate with the structure of a closed mortgage. The interest rate in this mortgage type fluctuates based on changes to the lender’s prime rate, which is influenced by the Bank of Canada’s interest rate....
Understanding Insured vs. Uninsured Mortgage: Key Differences Explained
Posted December 20, 2024
Posted December 20, 2024
What is an Insured Mortgage? Understanding the concept of an insured mortgage is essential for anyone exploring home financing options in Canada. This type of mortgage allows homebuyers to enter the housing market with a smaller down payment, thanks to the added protection of mortgage default insurance. Definition of an Insured Mortgage An insured mortgage...
Understanding Mortgage term vs. Amortization: Key Insights for Homebuyers
Posted December 20, 2024
Posted December 20, 2024
Mortgage Term vs. Amortization When diving into the complexities of homeownership in Canada, understanding the distinction between mortgage term and amortization period is essential. These two concepts play a crucial role in determining how much you’ll pay over the life of the loan and how long it will take to pay off your mortgage entirely....
The Best Guide to Construction Lending in Ontario: Financing Your Dream Build
Posted December 20, 2024
Posted December 20, 2024
Financing Your Construction Projects in Canada Building your dream home or undertaking a major renovation project requires thoughtful planning and the right financial resources. This section explores the critical aspects of construction costs and the various financing options available for construction projects in Canada. Understanding Construction Costs Before embarking on a construction project, it’s essential...
The Essential Guide to Selling House Privately in Canada
Posted December 20, 2024
Posted December 20, 2024
Understanding the Process of Selling a House Privately This section will help you understand how to sell your house privately (FSBO) in Canada. Selling your house privately can sound exciting and empowering, but it involves a few important things to understand before diving in. This section will break down the process and highlight the benefits...
The Ultimate Guide to Investment Property in Canada: Tips, Costs, and Benefits
Posted December 20, 2024
Posted December 20, 2024
What Is Real Estate Investing? Investment property in Canada is a powerful strategy for building wealth through property ownership, rental income, and long-term appreciation. Whether you’re a seasoned investor or a beginner, understanding the fundamentals and benefits can set you on the path to success. Understanding Real Estate Investing in Canada Real estate investing involves...
Understanding Freehold Property Ownership
Posted November 29, 2024
Posted November 29, 2024
What is Freehold Property? Are you considering buying a new property but the terms confuse you? This article will help you answer several key questions. What is freehold ownership? What’s the difference between leasehold property and freehold? Which type of property is better? There are three main types of property in Canada: freehold, leasehold, and...
How Much Do Mortgage Brokers Get Paid? Understanding Their Earnings
Posted October 31, 2024
Posted October 31, 2024
Understanding Mortgage Brokers in Canada In Canada, mortgage brokers play a crucial role in guiding borrowers through the complexities of securing a home loan. This section delves into what a mortgage broker does, the benefits of working with one, and the differences between brokers and direct lenders, helping potential borrowers understand how mortgage brokers can...
