What is a RESP? A REGISTERED EDUCATION SAVINGS PLAN(RESP) is an education savings account that is registered with the Canada Revenue Agency(CRA). It is a savings vehicle used by individuals to save for children’s post-secondary education. The plan offers incentives from the Government in the form of bonds and/or grants. Once registered, the plan becomes […]
Looking to buy a home or refinance your existing Mortgage? How will the new Mortgage Rules impact you? I can help you understand how the Mortgage Qualification Rules apply to your unique situation, and provide you with a financing solution built around your personal needs. Apply for a Mortgage Approval Online: Click Here Printable Mortgage […]
Effective May 14, 2018, the Bank of Canada is changing its 5 Year Benchmark Qualifying Rate to 5.34% from 5.14%. What you need to know: The 5-year benchmark qualifying rate or “STRESS TEST“, published by the Bank of Canada, was put into legislation mainly to ease affordability concerns and mitigate the payment shock that may […]