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Down Payment Strategies

One of the biggest challenges facing first time homebuyers is down payment. If you’d like to find out how to buy a home with little or no down payment click below and sign up to receive my 2-Part Video Series explaining how!    ...

Critical Step # 1 When Buying A Home

Critical Steps to Buy Your First Home Critical Step #1 Your Credit Score! When buying your first home and applying for a mortgage your credit score is the single biggest factor that lenders use in determining your interest rate and whether you will get approved! The shocking truth is most people don’t even know what a credit score is, let alone whether they have a high score or a low one. If your credit score is low, you could end up paying thousands of dollars in extra interest over the life of your mortgage. It’s time you learn the shocking truth about how your credit score is calculated and more importantly how to improve it almost overnight. I’ve prepared a special Credit Repair Guide entitled “12 Simple No Cost Methods to Repair Your Credit”. Visit my website – http:/www.timshwed.com www.facebook.com/howtobuyyourfirsthome CIBC Mortgage Advisor Tim Shwed 866-247-1378 tim.shwed@cibc.com...

10 Ways To Save A Down Payment

If you are considering buying a home or investment property, saving for a down payment can be a challenge. Here is how to get started: Tip#1 – Set a goal. Tip#2 – Determine the down payment required. Tip#3 – Open a separate savings account for your downpayment. Tip#4 – Keep a budget..make sure it includes monthly contributions to your down payment account for your home purchase. Tip#5 – Live below your means while saving for a down payment. Tip#6 – Consider a part-time job and deposit the additional income in your down payment house account. Tip#7 – Direct all your extra income such as raises, bonuses, tax refunds, into your down payment account. Tip#8 – Pay off your debt as quickly as possible so you can save in unnecessary interest costs. Take your savings and allocate toward your down payment house account. Tip#9 – Consider using your RRSP to help with your down payment. Speak to a financial advisor to guide you along the way Tip#10 – If saving is taking too long consider a lower value home. Once you are in the market and building equity, you can always move...

Mortgage Options – Open or Closed?

Getting a mortgage for a first home or a secondary property is a big investment. In this video, CIBC Mortgage Advisor Tim Shwed helps you start the process off on the right foot by explaining the difference between open and closed mortgage...

Options For Using Home Equity To Fund Goals

Expert Mortgage Advice Your home is probably one of the most valuable assets you have. In this video, CIBC Mortgage Advisor, Tim Shwed, discusses how you can use the equity in your home to purchase a secondary property, do home renovations, or even go on a...