Mortgage Review - Becoming More & More Important

Over the last 18 months, there have been substantial changes to qualifying rules and all the different lender's interpretation of these rules.  Also, over the last year we have seen a steady increase in the bank prime rate and fixed mortgage rates. 

This time last year, fixed mortgage rates were under 2.5%, today they are closer to 3.5%.

It's really important to connect so that we can review your goals and plans for the next couple of years to see that you are on track.  If not, we can set you up to accomplish these goals at the right time.

For example, I met some who plan to purchase a home in the summer.  They have been saving their down payment in a TFSA.  They hadn't considered using their RSP.  When we reviewed their goals, I noticed an opportunity for them. 

I suggested they simply switch the funds from their TFSA to their RSP.  They each had $20k saved and had over $20k of RSP contribution room.  By switching the money before Feb 28, they will each receive a $7500 tax refund. 

They just made $15k in total, a 38% return on their investment!  They were so happy that we chatted early in their home buying process.

Give me a call or email and we can spend 20 to 30 minutes to review your goals and see if there are any opportunities for you.