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  1. Home Buyers Plan RRSP - does overseas property make me ineligible?

    Real Estate
    Next year I will be looking to buy my first property since becoming resident in Canada, but I have owned a principal residence in the last 4 years in the UK. My banker in Canada seems to think I am still eligible for the Home Buyers Plan RRSP, meaning that I can put $35k into an RRSP, then take...
  2. avoid CMHC fees by paying 20% down?

    Real Estate
    Hi all, Looking for some advice. Say for example a home we were looking at was $500k, 20% would be $100k. Assuming we have no debt, can afford the 20% down, should we do it? I recently read that you can get lower rates if you have an insured mortgage???, by paying less than 20% down, you pay...
  3. Buying a house without down payment

    Real Estate
    Hey all. First post here but I've been reading this forum for a while. I want to help my friends who are thinking of buying a place without a down payment, they tend to listen to random ads and trust salespeople, which led them to make some very bad decisions before. In the last 3 years they've...
  4. Debt Free! now what?

    General Personal Finance Talk
    Hello, So just last month I made my final payment on my personal line of credit. This debt was accumulated through living outside of my means and has taken me 4 years to pay off. Now I’m trying to figure out what is the best approach for reaching my financial goals with the money which I no...
  5. New Bank of Canada report suggests increasing down payment

    Real Estate
    Bank of Canada released Review today (Aug 18, 2011), suggesting Ottawa to increase down payment requirement. (note: LTV ratio of 80% = DP of 20%; LTV ratio of 95% = DP of 5%; to lower LTV ratio = to increase DP) "They consider the impact when the public authorities respond to a credit boom by...