Did you know there's a cool new way to help you save for your first home? It can be tough to juggle rent and other expenses while trying to put money aside for a down payment. But don't worry, we’ve got your back with a new government program that came into effect on April 1, 2023.
The Canadian government’s new First Home Savings Account (FHSA) came into effect on April 1, 2023. This new registered savings account allows prospective first-time home buyers to save for a down payment on a tax-free basis. FHSA contributions are tax-deductible (like an RRSP), and qualifying withdrawals to purchase a first home are non-taxable (like a TFSA).
What's the right option for you?
You’re thinking about buying your first home, but where do you start? Follow these steps if you are starting the process of buying your first home.
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When you’re looking for a new house, it can be hard to find a place that has exactly what you want. Sometimes a house may need some renovations to make it the home you want. However, did you know that renovation costs can be rolled into your mortgage with a purchase plus improvement mortgage?
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You've heard of mortgage refinancing, but should you do it, and when is the right time? Learn about the benefits of refinancing your mortgage with Access.
Buying a house for the first time may seem like a difficult and daunting task, but with the right knowledge, the process can be a breeze. Here are some tips to consider when starting the home buying process.
Whether you’re buying your first home or your fifth, getting a mortgage pre-approval is the first step you should take before shopping for your new home. A pre-approval is a commitment from your financial institution to lend you a certain amount for your mortgage at a particular interest rate.