If you are interested in increasing your regular monthly cash flows, paying down your mortgage quicker and providing yourself with capital growth, owning a rental property may be for you! You have the ability to pay less tax by deducting expenses from your income. These include: Utility Bills (if included in the rent) Maintenance Fees and Upgrade Expenses Property Management Fees Insurance Premiums Best of all – your Mortgage Interest and Property Taxes The many different kinds of Rental Properties are:  Condos Townhouses Single Family Homes Duplexes Triplexes Four-plexes  Large Apartment Buildings

Does the home you are purchasing require upgrades or renovations? Will a new roof, central air, a new furnace, upgrades to the electrical or plumbing system, new doors, windows, a new kitchen or bathroom, or any other renovation increase the value of the home? With a Purchase Plus Improvements mortgage product you can add the cost of these renovations to your mortgage at the time of purchase.   This is how it works. At the time that you’re submitting your mortgage application for approval, you provide a written quote from a licensed contractor detailing the improvements with estimated costs. Your application is submitted…

Title insurance is an insurance policy that protects you, the homeowner, against challenges to the ownership of your home OR from problems related to the title to your home. The policy provides coverage against losses due to title defects, even if the defects existed before you purchased your home. A title defect is a problem with the title which prevents free and clear ownership.   There are many types of defects such as encroachments (from neighbouring properties), unpaid liens, etc. Title insurance policies protect you for as long as you own the property. It protects against a number of risks that…

Payment History – This accounts for about 35% of your credit score. Carrying balances from month-to-month and missing payments are two factors. Other factors include the number of missed payments – 1 missed payment in 8 -10 months is not bad, and how long the payment was outstanding matters.  TIP: Pay the minimum by the due date. How Much is Owed – This looks at the total outstanding balance in relation to the total of all credit limits and accounts for 30% of the credit score. TIP: Pay down your debt to at least 30% of the global loan limits.  Account History…