Monthly Archives: Thursday June 29th, 2017

A mortgage for self-employed : Can it be possible?

Monday June 26th, 2017

A mortgage for self-employed : Can it be possible?

Well yes, it is possible! Qualifying income is the only difference in qualifying for a mortgage between a salaried individual and a self-employed individual . For each situation here is the solution For a salaried individual income is established with a written confirmation of employment , specifying the date of hire , his annual salary, […]
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All homebuyers have to pay a land transfer tax (the “Bienvenue” tax).

Monday June 12th, 2017

All homebuyers have to pay a land transfer tax (the “Bienvenue” tax).

The land transfer tax or duties on real estate transfers is called the “taxe de bienvenue” in Quebec. Bienvenue has no connection with the expression “Welcome [Bienvenue] to your new house”. Rather it is the name of the provincial minister of Municipal Affairs who granted municipalities the right to collect this tax. It is a […]
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Mortgage — 7 questions to ask your banker

Monday June 5th, 2017

Mortgage — 7 questions to ask your banker

Negotiating a mortgage is more complicated than negotiating just a rate. Unfortunately, clients too often lose thousands of dollars because they were poorly advised. Here are 7 questions that your banker should be able to answer: What is the penalty if I want to break my mortgage and how is it calculated? Is my mortgage […]
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