Bloom unveils new home equity prepaid Mastercard as novel way for seniors to fund retirement + MORE Mar 16th

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.

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February housing starts increased 14% from January: Canada Mortgage and Housing Corp

– canadianmortgagetrends.com

The pace of home construction rose in February as builders started on more apartments and condos, but the industry continues to struggle under cost pressures.

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It’s possible to be a first-time home buyer twice—here’s how

– moneysense.ca

Can you do something and then later do it again for the first time? You can if that “first time” involves buying a home.

There are a few supports and programs in place for first-time buyers in Canada, including the Home Buyers’ Plan and the first home savings account (FHSA). (Canadians previously had access to the First Time Home Buyer Incentive, another federal government initiative, but that program will end on March 21, 2024). First-time home buyers may also be eligible for land transfer tax rebates.

Chances are, if you’ve used one of these incentives in the past, you won’t need to a second time. However, there are a variety of reasons you may want to participate in a first-time home buyer program again—and you might just qualify.

“It truly depends on the program,” says Denise Laframboise, a mortgage broker with LaframboiseMortgage.ca in Brooklin, Ont. “Each program has its own criteria for [qualifying as a] first-time home buyer. It isn’t a one-size-fits-all across every program and every provincial or municipal incentive…

Continue Reading On moneysense.ca »