Category Archives: Hypothèque

Itching to renovate your home? Here’s how to make it happen.

Monday April 23rd, 2018

Itching to renovate your home? Here’s how to make it happen.

After a visit with me at my office, Vanessa and Thomas decided to renovate their home to bring it up-to-date. They even took the opportunity to add a garage! Fifteen years ago, they paid $130,000 for their home, which is worth $275,000 today. They have a mortgage balance of $62,000. The estimated cost of the […]
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To avoid unpleasant surprises, do an annual review.

Monday April 16th, 2018

To avoid unpleasant surprises, do an annual review.

Have you thought of doing a yearly review of your mortgage in order to avoid any payment shock if interest rates increase? It’s really quite simple. On each anniversary of your mortgage, compare your rate with the available rates on the daily market (just click on the link below to access today’s rates). If your […]
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Your mortgage renewal could reduce your debts.

Monday April 9th, 2018

Your mortgage renewal could reduce your debts.

A car financed at 5%, a line of credit at 9%, credit cards at 19%… Have you ever made a comprehensive list of your current debts?  Many Quebeckers prioritize paying off their mortgage, which is only natural. No one likes big debts. But, ask yourself, is it the most logical way to proceed if you […]
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Swap your bungalow for a condo!

Beautiful living room with hardwood floors and fireplace in new luxury home
Monday April 2nd, 2018

Swap your bungalow for a condo!

Their youngest has just left the nest. Jocelyne and Jean-Luc are in the mood to travel and enjoy some well-deserved R&R. Mowing grass and shoveling snow are not part their retirement dream. They fall in love with a beautiful downtown condo with magnificent city views, but it costs considerably more than the value of their […]
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Pay Attention to Mortgage Loan Penalties!

Monday March 26th, 2018

Pay Attention to Mortgage Loan Penalties!

A mortgage loan has certain risks, which need to be evaluated carefully, especially those regarding penalties. Choosing a mortgage lender is not easy because there are approximately twenty financial institutions all offering ten or more mortgage products. It is widely recognized that consumers can find themselves faced with almost 300 mortgage products! Clearly it is […]
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Is it smart to use part of my RRSP’s to pay down debts so I can become a homeowner?

Monday March 19th, 2018

Is it smart to use part of my RRSP’s to pay down debts so I can become a homeowner?

Marie-Pierre decided to buy a nice home in the suburbs.  However, when she applied for a loan with her financial institution, she was refused.  They explained to her that she was already carrying too many debts and fixed monthly payments to qualify for a mortgage. Later that night she met up with some friends and told […]
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Should I choose monthly or weekly payments?

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Monday March 5th, 2018

Should I choose monthly or weekly payments?

You have just completed the mortgage approval process, and the inevitable question from your mortgage broker or bank adviser crops up: do you want to make weekly or monthly payments? If you answer weekly payments (my suggestion!), be aware that your choice doesn’t end there. First of all, there is a big difference between an […]
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Who can be exempt from paying the welcome tax?

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Monday February 26th, 2018

Who can be exempt from paying the welcome tax?

The welcome tax is also known as the land transfer tax. Former Minister Bienvenue had created this tax to allow municipalities to tax real estate transactions carried out on their territory as an additional source of income. The new owner is responsible for the transfer tax. If you separate from your spouse and buy his […]
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Buying a property needing major renovation? Careful planning will bring big savings!

Monday February 19th, 2018

Buying a property needing major renovation? Careful planning will bring big savings!

For over 5 years, you can no longer refinance* a mortgage for more than 80% of the market value of a home. Over the last 15 years, we have noticed that many of our clients return to our offices seeking mortgage refinancing in order to consolidate their debts. Sometimes this would occur only months after […]
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Refinancing a property can be advantageous.

Monday February 12th, 2018

Refinancing a property can be advantageous.

Certain situations make it worthwhile to refinance your property: To maximize your RRSP in the framework of a plan drawn up by a financial planner; To finance a project at a lower cost (lower interest rates) such as; Purchasing a motor vehicle Renovating a home Installing a swimming pool Changing the windows Installing a heat […]
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