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Monday, 26 November 2012

How to use RRSP for a down payment

Home Buyers' Plan (HBP) there is no secret, just knowledge! FREE CONSULTATION!
The Home Buyers' Plan (HBP) is a program that allows you to withdraw funds from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. You can withdraw up to $25,000 in a calendar year.
Your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the HBP, or they may not be deductible for any year.
Generally, you have to repay all withdrawals to your RRSPs within a period of no more than 15 years. You will have to repay an amount to your RRSPs each year until your HBP balance is zero. If you do not repay the amount due for a year, it will have to be included in your income for that year.

Most importantly, use the services of a mortgage broker, professional to help you to understand the whole process.

Tuesday, 13 November 2012

How realtors get clients pre-approved


You might have the best mortgage broker in your corner, but let me ask you this. Would a second opinion hurt when your contact turns a client down? Before you give up on a deal, please give it a second chance, you will be glad you did. We are experienced, seasoned and well connected, when others are not. We pay referral fee to our realtor friends. Remember, a pre-approved client saves you time, effort and stress. We provide pre-approvals in 24 hrs. after contacted your client. Now that is fast.