Updates to Canada's First-Time Home Buyer Incentive for Victoria, Vancouver, Toronto

As of April 2021, the changes to the First-Time Home Buyer Incentive program the federal government announced as part of the Fall Economic Statement on November 30, 2020 are in effect.  The eligibility for the program has been expanded in the higher priced housing markets of Victoria, Vancouver, and Toronto.

OSFI Changes Stress Test for Uninsured Mortgages in 2021

What Is Changing For Uninsured Mortgages?

The proposed qualifying rate for uninsured mortgages will be the higher of:

Everything You Need To Know About RRSPs, TFSAs and Your Mortgage

Get The Full Picture Of Your Finances

Everything You Need to Know About the BC Speculation and Vacancy Tax in 2021

The Speculation and Vacancy Tax (SVT) was introduced by the B.C. government in 2018 as part of the plan to address affordable housing. Property owners must make a declaration by March 31, 2021 for their 2020 tax status.

2020 in Review: What Happened with Mortgages and Real Estate in BC

When the year started, forecasters didn't predict any major changes to mortgage financing or the real estate market. After several years of new qualifying regulations and government taxes to attempt to address skyrocketing property prices, 2020 should have been relatively stable and calm.

To buy or not to buy your first home in 2021? That is the question!

These days that's the million dollar question – quite literally in Victoria and the Greater Vancouver areas. Buying a house, especially your first home, is a major decision. Auxilium Mortgage owner Kam Brar looks at some of the factors you should consider if you decide to buy property in 2021.

Self-employment and Qualifying for Your Mortgage

Self-Employed Header

Whether you call it your gig, side-hustle or passion project, the number of people in Canada who are self-employed is on the rise. When you're focused on building your business, home ownership can seem like a challenge. While it's true that qualifying for a mortgage when you're self-employed is different from a regular employee, our team is here to walk you through the options with mortgage lenders and insurers.