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RRSP Withdrawl Form

The image below is a sample “RRSP Withdrawl Form” that can be downloaded via the Canadian Revenue Agency government site. Each application can withdraw up to $25,000 for the “Down Payment” provided they are first time homeowners.

Sample Employment Letter

Sample employment letter that outlines the employee, employer, and details of the position.

Discharge Request Form for Renewals Switch or Refinancing

Discharge request forms   The discharge request statement will be provided by the mortgage broker, or lender for the refinance and switch mortgage. This form will advise the current mortgage lender that you will be paying out their registered mortgage on a specific date. If for some reason the payout is delayed, the charge to […]

Reverse Mortgage / CHIP Advantages & Drawbacks

Reverse Mortgage or CHIP (Canadian Home Income Plan) is designed to help seniors age 55 and above, who wish to take equity from their home for any purpose. There are two companies that provide this type of mortgage, Canadian Home Income Plan (Chip) which is offer by the home equity Bank and Seniors Money Canada. […]

Heloc – Home Equity Line Of Credit

What are different types of Heloc? Heloc – home equity line of credit is offer by most bank and credit unions as a revolving secured open loan using property as collateral. It can be registered with a fixed or variable mortgage and Heloc or simply as a Heloc against the title of the property. The […]

Home Improvement: Five Simple Ways to Improve Your Home’s Value

  You don’t have to be planning to sell your home just to resort to looking for ways to increase your home’s value. If you want the home improvements that you invest in this year to offer a return on the investment, you need to take the time to choose improvements that affect value positively. […]

Compare Mortgage Rates – UK-Europe and Canada

Let’s compare mortgage rates in Canada to those found in the United Kingdom. Canada and the UK share a lot in common, but these days, their mortgage markets are going in different directions. Mortgage rates in the UK recently hit a record low, while rates in Canada are starting to head up. Both situations, however, […]

Mortgage Renewal

Tip for mortgage renewal   Its time, your mortgage is up for renewal, what now?   There are a few questions that you should ask yourself when it is time to renew that mortgage   Has the current lender offer a great rate for the new term? Was the service of the current lender good? […]

The Real estate market in the UK compared to Canada

The real estate market trend for UK and Canada!   There are real similarities that are starting to become apparent as the UK and Canadian real estate markets continue to fluctuate and adjust. After a real estate crash that sent many countries and their residents reeling, changes have been made to try and level out […]

Mortgage Penalty

How is Mortgage penalty calculated in Canada?   There are 2 methods of mortgage penalty calculation that all banks, credit unions and other lenders use, the 3 months interest penalty or the IRD (Interest rate differential). The 3 months interest penalty is just that, you pay interest only for specified period to break a mortgage; […]

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