Breaking: CMHC Premium Increase

Breaking: CMHC Premium Increase

Effective May 1, 2014 CMHC has increased their insurance premiums across the board. This is the first increase since the late ’90s. The increases are as follows: – up to and including 95% will go from 2.75% to 3.15% – up to and including 90% will go...
First Time Buyer Exemption Increased

First Time Buyer Exemption Increased

The BC Government has announced that effective February 19, 2014 the Property Transfer Tax for First Time Buyers has increased to $475,000 from $425,000. The new threshold will allow a partial exemption between $475,000-$500,000. The government estimates this change...
How To Create a Tax Refund For Your Down Payment

How To Create a Tax Refund For Your Down Payment

Last year we had a call from a young professional who wanted to buy a home and get into the market. Everything sounded very straight forward until we learned they did not have much of a down payment available and didn’t have any family to support them on that...