On Tuesday, the Department of Finance announced three changes to the standards governing government-backed mortgages, that come into force April 19. Here are a summary of the changes.
QUALIFYING FOR A FIVE-YEAR RATE The adjustments to the mortgage framework will require mortgage insurers to ensure that new borrowers qualify for a five-year fixed rate mortgage when calculating the gross debt service and total debt service ratios. The measure is intended to protect Canadians by providing them with additional flexibility to support mortgage payments at … (0 comments)
federal government: :: Do you qualify for the Canadian Home Renovation tax credit? ::
- 04/12/09 08:21 AM
Up to 15% credit back may be had from the federal government to offset the cost of home renovations. The 15-per-cent credit may be claimed on the portion of eligible expenditures exceeding $1,000, but not more than $10,000, meaning that the maximum tax credit that can be received is $1,350. The credit can be claimed on eligible expenditures incurred on one or more of an individual's eligible dwellings. Properties eligible for the HRTC include houses, cottages and condominium units that are owned for personal use. please click here for more details Home Renovation Tax Credit
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federal government: :: What you could do with Seven hundred thousand, million of your dollars ::
- 01/15/09 12:25 AM
I have been mulling over the financial total of $700 billion dollars for months now like most of you have. It is as impossible for the human mind to grasp as how many light years the universe is from one end to the other. Steven Hawking might be able to wrap his mind around it but I can't. What is more amazing is that this dollar amound never uttered at any point previously in modern history seems like it is being sucked into a black hole, again ask Steven Hawking to explaint that. I can't and no one else seems to … (14 comments)
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