Category Archives: Mortgage Insurance

Incentives for First Time Homebuyers

The Liberals proposed the ‘First Home Savings Account’ (FHSA) as part of their 2021 election platform to help Canadians under the age of 40 save for a down payment on their first home.

First Home Savings Account

The account will be a combination of an RRSP and a TFSA. Contributions to the FHSA will provide the taxpayer with a deduction that can be used to reduce their income for the year. The maximum contribution is $40,000, and account funds will grow tax-free. When the funds are withdrawn, the growth won’t be taxable if the funds are used to purchase the taxpayer’s first home. Read more

Millennials – Life Insurance Gap

millennialsMore than half of the Millennials in Ontario do not have a individual insurance policy on their mortgages.

The Financial Services Commission of Ontario (FSCO) recently hired Environics Research to discover how much Millennials know about mortgages. The poll found that 47% of those between the ages of 25 to 34 were “not very” or “not at all” confident about the subject, and only 12% described themselves as “very confident” when dealing with banks and other lenders.  Read more

Special Offer: Mortgage Renewals and Home Equity Line of Credit

As a financial advisor, my role is to look for opportunities to improve your overall personal finances. Right now I can refer you to an all-in-one account from Manulife Bank that combines your mortgage, personal loans, and lines of credit with your income and short-term savings. This cash flow and debt management solution could save you thousands of dollars in interest and help you be debt-free years sooner. Manulife Bank will deposit $750 cash back into all new accounts that open between April 21st and July 31st, 2014 with a minimum balance of $75,000. This is a limited time offer, so if you are interested, please contact me.