home buyers: Home improvement financing at time of purchase - 02/27/09 11:19 AM
With the introduction of the temporary (2009) Home Renovation Tax Credit (HRTC), many Canadians will be thinking of doing home improvements this year in order to claim the HRTC when filing their 2009 tax returns.  Click here for more information about the HRTC.  For those of you who may be interested in purchasing a home and renovating at the same time, I would like to remind you of a financing program designed for this exact situation.
A little known program offered by the insurers (CMHC, AIG, and Genworth) makes it possible for home buyers to make improvements to homes immediately after taking possession, and include the … (0 comments)

home buyers: New MortgageResource.ca Website! - 01/15/09 10:43 AM
Well, we said we had a surprise for our viewers coming in the new year and here it is - a brand new MortgageResource.ca website!
This has been a long time coming.  The evolution away from rudimentary platforms like eBlogger and Frontpage have carried us as far as it could go, and we're really looking forward to taking advantage of the new site.  Not only did we want a site that better reflected the growth MortgageResource.ca has seen since its debut one-and-a-half years ago, we wanted a site that could better serve our fantastic community of viewers without whom there would be no MortgageResource.ca.
We condensed the … (0 comments)

home buyers: Making sense of that 20 page builder offer to purchase - 11/27/08 08:39 AM
Likely many readers are wondering whether they should buy a new home.  The usual horror stories abound concerning the typical builder's form of agreement of purchase and sale which enables the builder to extend closing dates, substitute materials and even make changes to siting and floor plan layouts.  While some of this may be true, it is imperative that prospective purchasers refer the agreement to a lawyer before the offer is accepted by the builder. You may pay a little more in legal fees for this service, but the review can save you lots of time and money in the long … (0 comments)

home buyers: Canada's RRSP Home Buyers Plan - 11/14/08 04:45 PM
In 1992, the federal government introduced the RRSP Home Buyers' Plan. Eligible taxpayers can withdraw up to $20,000 tax free from their Registered Retirement Savings Plan (RRSP) to buy a home. Your spouse, or partner can also take advantage of the Home Buyers' Plan (HBP), which can bring your total withdrawal up to $40,000. The plan was supposed to have been a temporary measure to fix a lagging economy, but its popularity led the government, in its 1994 budget, to make the plan a permanent part of the RRSP rule book.
Who is eligible?
You must be a Canadian resident and … (1 comments)

home buyers: Property Tax Accounts - 10/29/08 03:40 PM
Everyone knows property taxes have to be paid.  With a mortgage-free house, you pay the taxes directly to the municipality.  But that's not necessarily the case when you have a mortgage.
By default, most lenders will automatically include part of the property taxes with your regular mortgage payment.  The money collected by the lender is placed into a "property tax" or "escrow" account.  The municipality's tax bills are sent directly to the lender who pays your taxes from this account when they are due. 
The exception to this scenario is if your downpayment is 20 per cent or more.  Then lenders … (0 comments)

 
Blair Anderson (Anderson Associates Mortgage Brokers)

Blair Anderson

Hamilton, ON

More about me…

Anderson Associates Mortgage Brokers

Address: 349 Beach Blvd., Hamilton, ON, L8H6W4

Office: 90(554) 760-9324

Fax: (905) 547-9417

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