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Buying a first home requires careful planning and organization. Start by setting a budget considering income, expenses, and ongoing costs. Check and improve your credit score, save for a deposit, and explore government grants. Get loan pre-approval to strengthen your position. Choose the right location based on lifestyle and growth potential. List must-have features, inspect…

When choosing a mortgage lender in Canada, consider lender reputation, customer service, and qualification criteria. A lenders, like major banks and credit unions, offer the best rates but have strict requirements. B lenders serve those with lower credit scores but charge higher rates. Private lenders provide quick access but at higher risk and cost. Using…

Transitioning from renting to homeownership requires careful preparation of credit, finances, and savings. Key steps include determining how much house you can afford, saving for a down payment using tools like the First Home Savings Account and Home Buyers' Plan, and improving your credit score. Job stability and income reliability are crucial for mortgage approval.…

Calgary's richest neighborhoods feature prestigious homes, top schools, and abundant amenities. Upper Mount Royal and Elbow Park offer historic mansions and riverside views. Altadore and Aspen Woods blend urban convenience with green spaces. Bel-Aire and Pump Hill provide privacy and outdoor access. Britannia and Heritage Pointe boast walkability and golf courses. Rosedale and Roxboro combine…

Interest in variable rate mortgages is rising, with five-year variable rate inquiries increasing from 5% to 8% year over year. Mortgage renewals now account for 39% of inquiries, up as many five-year terms from low-rate pandemic-era loans are ending. New home purchase mortgage inquiries have dropped from 71% to 47%, while refinancing inquiries doubled from…

First-time homebuyers can access various programs to ease financial burdens. The Home Buyers’ Plan (HBP) allows withdrawals from RRSPs for down payments, offering up to $35,000 tax-free. The First-Time Home Buyer Incentive provides 5% or 10% of the purchase price as a shared equity mortgage. New Brunswick offers a Home Ownership Program for low-income families,…

Mortgage affordability improved in seven of 13 Canadian cities due to stable borrowing costs and falling home sales. Hamilton saw the biggest improvement with a $9,600 price drop and $49 monthly savings. Toronto and Vancouver also saw price declines but remain costly. Conversely, Regina, Montreal, Victoria, Halifax, Ottawa, and Winnipeg experienced rising home prices and…