Credit Mortgages and Finance

How can you master your credit score and ways to improve it.

Found 137 blog entries about Credit Mortgages and Finance.

Buying Land as an investmentWhen it comes to investing your money, land has always been a valuable commodity to consider.

When you invest in a piece of land, the opportunities are endless. Perhaps you’ve always dreamed of building your own home. Or, you could hold onto it until the value appreciates and sell it to a developer. Some people even purchase a plot of land to raise cattle on, knowing that at some point they can sell it on if they wish. Land has so much potential, that it makes for a very flexible investment. It’s also possible to purchase land close to your own home to increase its overall value.

Like with any investment, there are some key strategies to help you make the best purchase decision. While no investment can be 100% guaranteed, land remains a safe one so

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Kamloops First Time Home BuyersReady to buy a home? Be prepared: With inventory tight and prices rising, this is a tricky time to be entering the market.

Your biggest challenge is that you’re probably bringing less cash to the table, which makes it harder to compete with more seasoned buyers.

What you do have, however, is flexibility—you’re not counting on selling your current place to fund the deal. That means you can play nice guy with sellers who want to stay put until they land their next place.

Here are the best moves for you to make as you begin to enter the housing market.

1. Lock Up Your Financials

Before you start shopping, clean up your credit and save for a bigger down payment so that you’ll qualify for a better mortgage rate and avoid costly fees. Step one:

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First time home buyers in KamloopsYou may have heard of the incentive programs that the federal government has created to try to entice first time home buyers into the real estate market, but how much do you really understand? Is this something for you?

The government of Canada has a couple of programs that are designed to get first time buyers on the property ladder. Read on to see if they are right for you.

1) The Home Buyers' Plan (HBP). This is a program that allows you to withdraw funds from your Registered Retirement Savings Plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. The HBP allows you to pay back the withdrawn funds within a 15-year period. So what are the rules?

  • Permits two first-time buyers in the same
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Canadians and Covid19 finance tipsIf you have questions about the coronavirus and how the current situation might impact your finances, you’re not alone.

We’ve all heard the words “unprecedented times” more than ever over the last month. While we deal with so much uncertainty around us, it’s important to recognize that there are still actions we can take to help protect ourselves.

With financial markets crashing and the loss of a number of jobs, Canadians are questioning their financial future. It is yet to be determined the real economic impact of the coronavirus as data is changing quickly with limited time to analyze. There are indications that joblessness will increase in the short term, which can be scary; however, the government and lenders are stepping up to aid households in

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Canadian credit scoreYour credit scores are an important aspect of your financial profile.

They may be used to determine some of the most important financial factors in your life, such as whether you’ll be able to lease a vehicle, qualify for a mortgage or even land that cool new job.

And considering 71 percent of Canadian families carry debt in some form (think mortgages, car loans, lines of credit, personal loans or student debt), good credit health should be a part of your current and future plans.  High, low, positive, negative – there’s more to your scores than you might think. And depending on where your numbers fall, your lending and credit options will vary. So what is a good credit score? What about a great one? Let’s take a look at the numbers.

In a

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In this time of great change don't forget that the Kamloops Property For Sale Website is open 24hrs a day for all of your real estate questions and answers.

Kamloops Real Estate Webiste

It's a safe way to get the info you need now and be ready to sell or list your Kamloops Real Estate when the time is right. If you register today you can save searches and get the information you need delivered to your email.

So how does everything effect the real estate market?

The B.C. government’s 2020-2021 budget envisioned about $1.6 billion in revenue from the property transfer tax, and the real estate sector, which employs tens of thousands of people, is worth more than $22 billion annually to the province’s GDP, according to the industry

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Canadian RRSPStill trying to figure out this RRSP thing? You’re not alone.

It's that time of year again - time to make the most of your RRSP contributions before the clock strikes twelve on March 2, 2020

The Registered Retirement Savings Plan, known simply as the RRSP to most, is a great tool for saving money. RRSP contributions are tax-deductible, which allows you to delay paying taxes on that income until you retire, when you’ll likely be in a lower tax bracket.  If you don’t know a lot about RRSPs, it’s time to educate yourself.  Unfortunately, our high cost of living and competing financial demands can make it challenging putting money aside. But hopefully that won’t deter you from figuring out how to make the most of what you have.

There are times when

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Kamloops Property ValuesFind out how much the median single-family home in your municipality went up (or down) in value last year

Housing assessments are in the mail for nearly two million homeowners in British Columbia, but those in Vancouver who may have searched their properties online have already learned that values have fallen dramatically.

The figures released January by B.C. Assessment show the typical value of a single-family home in Vancouver has dropped 11 per cent, from $1.76 million to $1.57 million, as of July 1, 2019.

Here are a few answers to questions you might have about property values across the province. 

  • How much did things change in Kamloops?

While property values dropped by four to 15 per cent across Metro Vancouver, it was a

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Managing your moneyThe cost of owning a house and starting a family just might be the lost opportunity to get a good head start on saving for retirement.

With the March 1 deadline for contributions to registered retirement savings plans just ahead, it’s a good time to look at how to balance life’s biggest financial responsibilities. Home ownership, starting a family and retirement saving – can you do it all?

In cities with reasonably priced housing, you certainly can. But in expensive markets such as Toronto, Vancouver and their satellite cities, only high earners will manage this balance. Something will have to give in the household budgets of everyone else, and it’s probably going to be retirement saving.

There’s more to this than the average $770,745 cost of a

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CMHC Mortgage Insurance CanadaCanada Mortgage and Housing Corporation (CMHC) has defended mortgage stress test rules and warned federal policymakers to hold the line amid calls from industry associations to ease the rules.

“My job is to advise you against this reckless myopia and protect our economy from potentially tragic consequences,” Evan Siddall, CMHC’s president and CEO, said in a letter to the Standing Committee on Finance dated Thursday.

Siddall urged the committee to “look past the plain self-interest” of the parties lobbying for easing the rules. The Mortgage Professionals Association of Canada (MPAC), the Canadian Home Builders Association (CHBA), and the Ontario Real Estate Association (OREA) have all called for such change, according to a report by The Canadian

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