Questions about the Mortgage Qualification Process How is a loan application assessed? Most lenders base their affordability calculations on two traditional debt to income ratios. First, your Gross Debt Service Ratio (GDSR) is based on your monthly housing costs, including mortgage payments, property taxes, heating costs, and 50% of applicable condo fees. Lenders prefer that […]
The deadline to file personal income taxes for the 2016 calendar year is April 30. Here are five common deductions that you may claim this year: 1. Charitable Donations Giving back to charity helps those in need and offers financial benefits for the donor. Donations over $10 are eligible for a tax receipt and can […]
Keep more of your money in your pocket and portfolio. Over the course of your life, a significant amount of your income will go to taxes. Did you know that the tax bill of the average Canadian family has risen by 1,939% since 1961? It sounds startling, but Canadians now spend more on […]