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12 Essential Tips for First-Time Home Buyers

Buying your first home in Canada can be both exciting and overwhelming. Key tips for first-time buyers include saving strategically for a down payment, understanding what you can afford to borrow, and improving your credit score. It's essential to calculate your debt service ratios and prepare for the mortgage stress test. Comparing mortgage options and getting pre-approved can help streamline the...

Land in Dartmouth, Middle Sackville designated to build more affordable housing

More than eight hectares of land in Nova Scotia is designated for affordable housing in Middle Sackville and Dartmouth under the "Land for Housing Program." This initiative aims to create 1,100 housing units, nearly half of which will be affordable. The Affordable Housing Association will develop 106 mixed-market units, including 42 affordable, while Metro Premier Properties plans over 300...

15 Things You Should Know Before Taking Out A Reverse Mortgage

Reverse mortgages in Canada are regulated and less risky compared to those in the U.S. Seniors can access tax-free cash based on their home's value without monthly payments, repaying the loan upon selling the home or passing away. Key points include the need for independent legal advice, potential fees, and the requirement to maintain property taxes and insurance. While they offer flexibility and...

Loans vs. Mortgages: Which Fits Your Needs?

Purpose of Financing: - Loans: Various needs, like cars or education - Mortgages: Specifically for Real Estate or home equityBorrowing Amounts & Terms: - Loans: $100s to $1000s; term varies - Mortgages: $1000s to Millions; up to 30 years...