Brian Elston - First Home Buyer Solutions

12/22/2021

OSFI (The Office of the Superintendent of Financial Institutions) is leaving the minimum qualifying rate for the uninsured mortgage stress test at 5.25%. The federal governent is also leaving the qualifying rate where it is for mortgages with less than 20% down payment.

Feel free to read the full article to find out more.

As part of its annual review of the stress test for uninsured mortgages, the Office of the Superintendent of Financial Institutions today confirmed the minimum qualifying rate will remain at 5.25%. That means borrowers making a down payment of 20% or more will need to prove they can afford payments....

12/18/2021

There are several advantages in maxing out your contributions to your RRSP. All of the income you earn in the plan is exempt from tax (as long as the funds remain there). Additionally, you can withdraw tax-free funds from your RRSP for qualifying home purchases. Click below to read on & find out more...

https://imortgagehomes.com/first-time-home-buyers-can-harness-power-rrsps

04/22/2020

Just wanted to pass on a tip I received last week.

If your family has two vehicles and you are now only using one during this time, you might want to look at temporarily reducing the amount of insurance coverage you are paying on the one vehicle (if you do, make sure you don't drive it!). This could result in some $$ savings.

Take a look at the article for some other potential ways to save on your vehicle insurance.

Because of the coronavirus and our country’s measures to reduce the spread of infection, we are staying home and driving less. Here’s how you may be able to reduce your car insurance premium in the interim.

11/05/2018

Divorce is hard, there are financial strains that need to be solved. The Divorce Refinance Program can help you get your finances in order. Speak to a mortgage broker today for more information about the program and how to choose the right lender for you.
Learn more by reading my new blog post: https://www.clearhome.ca/links/?b=BrianElston&l=446

10/31/2018

We hope everyone had a spooktacular Halloween with your little goblins and ghouls! We’re reviewing the five scariest secret horrors lurking deep within the darkest depths of your Mortgage Contract.

Be aware these secrets are not for the faint of heart, and we will not be held responsible for lack of sleep caused by the nightmares contained within these articles.
Learn more by reading my new blog post: https://www.clearhome.ca/links/?b=BrianElston&l=2406

10/30/2018

Home is where the heart is! Portable mortgages offer homeowners peace of mind. Whether you are upgrading your current home or you’ve purchased a new one, with a portable mortgage your rate can be carried over as your housing situation changes. Find out how a mortgage broker can help you TODAY!
Learn more by reading my new blog post: https://www.clearhome.ca/links/?b=BrianElston&l=447

10/26/2018

What to do, what to do?
Thursday saw the third Prime Interest Rate increase of 2018. Canadians with variable-rate mortgages will see an increase in their mortgage payments, but is now the time to change or convert your mortgage to a fixed rate?

I answer this question and more in my new post.
Learn more by reading my new blog post: https://www.clearhome.ca/links/?b=BrianElston&l=1660

10/25/2018

Banks across Canada are following suit after the Bank of Canada’s prime interest rate increase. Canadians with variable mortgages and loans could see the change take effect as early as today. Speak to your mortgage broker or financial planner to discuss your options and weather this change.
Learn more by reading my new blog post: https://www.clearhome.ca/links/?b=BrianElston&l=2354

10/19/2018

A recent poll says 64% of Canadians believe smoking ma*****na in your home will negatively affect its value. If I ran the survey I would have asked if they thought ci******es would cause the same or a similar decrease.

What do you think? Would ma*****na and ci******es cause the same decrease in property values or is one worse than the other?

Please share your thoughts!
Learn more by reading my new blog post: https://www.clearhome.ca/links/?b=BrianElston&l=2276

10/10/2018

We all know that debt is a burden, and at times it feels like there is no way to pay it all off or clean it up.

Don't be too discouraged. Contact me today and we can use some simple techniques to get your debt under control. It's not hard, and it doesn't take long. Stop feeling stressed and get some clarity, CALL or MESSAGE me today.
Learn more by reading my new blog post: https://www.clearhome.ca/links/?b=BrianElston&l=2230

10/03/2018

Are you self-employed? It just got easier to qualify for a mortgage!

New CMHC rules now allow more types of documents to prove your income, and require less time operating your business before you qualify. Call me today if you have any questions!
Learn more by reading my new blog post: https://www.clearhome.ca/links/?b=BrianElston&l=2186

10/01/2018

Life can be unexpected. There are many reasons why you may choose to break your 5 year term mortgage agreement. It is important to be prepared and protected against mortgage penalties. Reach out to me directly, I can give you the support you need to make the right decision.
Learn more by reading my new blog post: https://www.clearhome.ca/links/?b=BrianElston&l=488