Mortgage
With the Home Buyers Plan (HBP), you can use the funds you’ve accumulated in your Registered Retirement Savings Plan (RRSP) tax-free to purchase your first house. Sounds too good to be true, right? Well, almost. There are conditions and rules involved in using your RRSP to buy a house, but overall it’s a pretty great […]
As house prices stay quite high, many Canadians find it more challenging to save for a mortgage down payment. The Canadian government came up with initiatives to make homeownership more affordable. One way the government decided to tackle the housing crisis is through the First Home Savings Account (FHSA) that was put in place in […]
What is the Home Buyer’s Plan? In Canada, you can use some of your Registered Retirement Savings Plan (RRSP) to purchase a home. It’s called the Home Buyer’s Plan and it can help you get on the first rung of the property ladder. Of course, you need to have an RRSP account; it all sounds […]
The Canadian government put aside 2 billion dollars to help Canadians buy their first home. First it was the First Home Savings Account (FHSA), now they’ve added a rent-to-own housing program Rent-to-own can be a great arrangement for landlords and tenants alike. It is great for landlords who want an exit strategy from the rental […]
72.07% of Canadians think that the tax-free First Home Savings Account (FHSA) will have no real positive impact on their ability to buy a first house. The FHSA is a tax free savings account that blends the tax efficiency of a registered retirement savings plan (RRSP) with the flexibility of a Tax-Free Savings Account (TFSA). […]
