First Time Home Buyers Archives

17 10, 2016

How Does the New “Stress Test” for Mortgages affect me?
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How Does the New “Stress Test” for Mortgages affect me?

Real Estate

How Does the New “Stress Test” for Mortgages affect me?

By Cindy Silver|2019-05-15T16:29:00-07:00October 17th, 2016|Real Estate|

What is the "stress test"? At the beginning of the month, Ottawa released the news that they would be introducing some new measures to make it harder for Canadians to take on a mortgage they can’t afford. On October 17th, 2016, the federal government’s new rules for first-time homebuyers take effect. Now all insured mortgage [...]

9 05, 2014

How does Property Transfer Tax affect you?
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How does Property Transfer Tax affect you?

Property Tax

How does Property Transfer Tax affect you?

By Cindy Silver|2019-05-15T16:38:25-07:00May 9th, 2014|Property Tax|

How does Property Transfer Tax affect you? Very generally, Property Transfer Tax (PTT) is paid by anyone who has land transferred into their name, unless they qualify for an exemption. Property Transfer Tax is 1% on the first $200,000.00 of the property's fair market value and 2% on the remaining fair market value, as of [...]