Riel Syrenne
2-2175 Airport Drive S7L 7E1 Saskatoon, SK, Canada

MORTGAGE MONDAY! (Down Payments) So you're tired of renting and your ready to get into a home of your own, awesome! But then you remember the largest hurdle that not just you, but almost ALL first home home buyers run into, the down payment. In Canada you need a minimum down payment of 5% of your purchase price ($15,000 on a $300,000 Home) but where does one find this sort of cash!? Here's a few options that might help:... ------------------------------------------------------------------------------------ PIGGY BANK - Your own Savings, sometimes the toughest route STOCK MARKET - Your Investments, RRSPs, TFSA, Stocks etc RICH UNCLE FRANK - A Gift from Family is always accepted BORROWED - From a Loan, Line of Credit etc ------------------------------------------------------------------------------------- Not ALL banks participate in the BORROWED Down Payment program but yes this still exists (not many are aware of it). There are many programs that help you with a loan or line of credit to help pay the down payment in part, or in full. As always, please free to reach out! Let us know your specific circumstances and we will help you prepare the best gameplan to get you into your new home!

Mortgage Changes - 2019 Federal Budget! This week Canada's federal budget was released.Some were hoping for 30 year mortgages to return (didn't happen), some were hoping for a change in the "stress test" (again, didn't happen) but there are a few changes that are coming this fall.... HIGHER RRSP HOME BUYER'S PLAN (BBP) LIMITS: $25,000 was the MAX that a first time home buyer can withdrawal from their RRSP tax free. $35,000 is the NEW MAX that a first time home buyer can withdrawal from their RRSP tax free. 1.25 BILLION IN DOWN PAYMENT ASSISTANCE: 5% Assistance for any pre-owned home. 10% Assistance for any newly built home. For the down payment assistance, these incentives are in addition to your own down payment (you still need to have 5% on your own). And these funds need to be repaid when you sell your property with a few other strings attached. To understand any of these changes in full detail, please reach out! We are here to help make sure you get the very best mortgage & terms, no matter what your goals are!

Is it time for a Cabin/Vacation Home!? This warmer weather has us thinking about the lake (which you might have right outside your front door when this snow melts). Owning your own Cabin or Vacation Home might be easier than you think. With a minimum down payment of only 5%, you can treat yourself to all the luxury you have earned after surviving this winter! Rates are low and the the weather is high (sort of)! Contact us to get pre-approved today!