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How to get a Mortgage
Buy first home or repay student loans? Today’s question came from Alison in Mississauga: “Hi Ross I currently have a $50, 000 CAD student loan which I must now start paying off. I have a short term work contract, making a $70,000 a year salary. I have about $10,000 in savings, but am unsure about how...
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First home or student loans? This is part two of the response to a question from Alison, who wanted to know if she should first pay off her student loans before saving for a house. You can read part one here. Hi Alison, I like the idea of power saving for the foreseeable future –...
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No condition of financing nightmare Multi offer home purchase situations can be stressful for all involved in the buying process. Typically they rear their ugly head in a heated market, when a desirable home in a good neighbourhood is deliberately listed at a lower-than-market-value price. This can lead to realtors rushing  their buying clients to...
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When to buy your first home The sooner you go from being a renter to an owner, the sooner you can begin to increase your personal wealth. This is perhaps the only legitimate, safe way to parlay a relatively small amount of money into an amount many times larger – and tax free to boot! First...
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Why refinancing makes sense What is mortgage refinancing? Refinancing is the process that pays the existing mortgage and/or any other legal claims against the property and sets-up a completely new mortgage. Refinancing can save you lots of money when market interest rates drop one or more percentage points below your present rate. Mortgage refinancing can...
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Come to the dark side Anytime someone wants to borrow money – for whatever reason, from whomever, lenders always ask themselves one  simple question –“will they pay this back?” This is true even if it is your best friend hitting you up for a personal loan, or if you are sitting in your local bank...
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Home ownership for new grads Many industry experts exhort today’s youth to become first time home buyers – In general I am a fan of that plan. It all comes down to having your ducks in order. Your employment, your credit history, your savings, and your tax planning. For young university and college graduates preparing to...
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Spend inheritance on condo Today’s question came from a concerned parent. “My daughter will be graduating with her undergrad degree in April and hopes to get into teacher’s college.  When she graduates from teacher’s college, there is a good chance she may not find employment.  Her grandparents are giving her $15,000.00 upon completion of  her education....
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