by Brent Shepheard | Apr 6, 2018 | Down Payment
WHAT IS THE HOME BUYERS’ PLAN? – RRSP WITHDRAWAL If you are a qualified first time home buyer, you can withdraw up to $25,000 in a calendar year from your RRSP to buy or build a qualifying home. There are no penalties for early withdrawal but you must...
by Brent Shepheard | Apr 6, 2018 | Down Payment
WHAT IS THE MINIMUM DOWN PAYMENT ON A RENTAL PROPERTY? Any property bought for the use as a rental property requires a minimum of 20% as a down payment. For example, if you want to purchase a rental property with a purchase price of $525,000, the minimum down payment...
by Brent Shepheard | Oct 7, 2017 | Down Payment
WHAT IS THE MINIMUM DOWN PAYMENT TO BUY? The minimum down payment needed to purchase a property is varies depending on the purchase price. When buying an owner-occupied home: For any purchases between $1 – $500,000, the minimum down payment is 5%. Amounts on...
by Brent Shepheard | Aug 20, 2017 | Down Payment
CAN MY PARENTS GIVE ME A GIFTED DOWN PAYMENT? Yes, generally speaking, parents can gift you all or part of your downpayment towards your purchase. In order to satisfy lender conditions around gifted down payments, a few things required: 1. You must get a signed gift...
