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* HOME * CALCULATORS * APPLY NOW * MORE * BLOG * VIDEOS * RESOURCES * VIP CLUB * RATE UPDATES * REALTOR SIGN UP * AWARDS LET'S CONNECT -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- YOU BELONG HERE LET'S CONNECT Christine Buemann Owner | Mortgage Broker MEET THE TEAM -------------------------------------------------------------------------------- Introducing Christine, a seasoned Mortgage Broker who embarked on her journey in 2010 and has been making waves in real estate investment throughout Northern BC since 2005. With an unwavering passion for mortgages, Christine is renowned for her ability to think "outside of the box," consistently delivering innovative solutions. When it comes to qualifying or maximizing cost savings, she prides herself on protecting her clients' interests and making their well-being her utmost priority. "I believe the role of a Mortgage Broker is to help you explore and understand your available options so you can make your own, educated decisions. Our team is dedicated to providing exceptional and personalized service. Leveraging our extensive knowledge and experience, we create tailored mortgage plans and ensure your needs are met at every stage of the process. We work tirelessly on your behalf, having access to a diverse pool of lenders offering a wide range of mortgage products. Building strong relationships is at the core of our values, and we strive to be a continuous resource for our clients long after their mortgage is secured." Beyond her professional endeavors, Christine finds solace in cherishing precious moments with her family, diving into captivating books, and embracing the wonders of the great outdoors. Whether she's exploring serene nature trails or embarking on exciting adventures, she knows the importance of balancing work and life to nurture her own well-being and maintain a fresh perspective for her clients. So, if you're seeking a Mortgage Broker who goes above and beyond to ensure your financial success, look no further than Christine. With her expertise, dedication, and commitment to personalized service, she will guide you through the mortgage process and be a trusted partner on your journey. Let's create a solid foundation for your dreams together! VIEW ALL AWARDS WE WOULD LOVE TO HEAR ABOUT WHICH STAGE OF THE JOURNEY YOU ARE IN. -------------------------------------------------------------------------------- Mortgages are complicated and we understand that. If you prefer to review your situation in detail together, we are always happy to help. I'M JUST GETTING STARTED Find out how much you can afford in 2 minutes. > HAVE A SPECIFIC HOME IN MIND Find out if you can afford it in 2 minutes. > WANT TO REFINANCE A HOME YOU OWN? Find out how much you can take out in 2 minutes. > LET'S CONNECT THE MORTGAGE INDUSTRY IS CHANGING QUICKLY. WATCH THIS SHORT VIDEO TO LEARN WHY IT'S IMPORTANT TO USE A MORTGAGE BROKER. MORTGAGE FINANCING -------------------------------------------------------------------------------- Whatever your mortgage needs; our team has the knowledge, experience and resources to guide you! FIRST TIME HOME BUYERS? If you're looking to buy your first home, we have all of the tools and resources you need! Check out this page for basic information and contact Christine to start the conversation! GOING THROUGH A DIVORCE? We have a program designed specifically for those who are navigating this often new and uncomfortable journey. Whether you are looking to keep your matrimonial home, to be removed from title or simply to understand your options - contact our team to learn about how Christine’s unique strategies can simplify the process. MORTGAGE INTO RETIREMENT? Senior Canadians are looking for options. Although a great product for some people, the reverse mortgage isn't your only option into retirement. Let's discuss ALL your options, instead of making assumptions. EXPERIENCED HOME OWNER? If you are looking to refinance, renew or purchase a new home, our team will review your current and future financial goals to ensure you have the best possible strategy to lower your cost of borrowing. Christine’s unique and holistic view of financial structuring and integration is an experience you won’t want to miss! INTERESTED IN EXPLORING INVESTMENTS? Whether you are experienced at real estate investing or just looking to get started, Christine is an invaluable resource for information in this area. As a long-time investor herself, she has personally experienced “the good, the bad and the ugly” and will use this deep level of knowledge and experience to help design a plan which will maximize your profits and align with your long term goals VALUED RELATIONSHIPS -------------------------------------------------------------------------------- With over a decade of experience, our team has developed excellent relationships with many lenders. Here are a few of our trusted partners: * Button * Button * Button * Button * Button * Button * Button * Button LET'S CONNECT Shannon Horrigan Real Estate Agent 23 days ago Wow! Christine and her team never disappoint! Christine fights hard for her clients to find a solution or the best option. Always communicates to keep you in the loop and makes the process easy and stress free. I can't recommend her more. Read more Posted on Google Katey Mclellan 1 year ago Christine and her team are beyond wonderful. They made one of the most stressful times of my life more than bearable and I absolutely can’t recommend her enough. They are brilliant, kind and so supportive. I’ve sang their praises to everyone, you can’t go wrong! Read more Posted on Google Laura Bennett 23 days ago Christine’s team has been such a pleasure to work with! They made the whole process very easy and were so quick to respond to all my questions. Read more Posted on Google Matt Putnam 1 year ago Christine and team made our home buying experience very pleasant and effortless. 10/10 would recommend! Read more Posted on Google Riley Johnson 4 months ago Quick and seamless process. Posted on Google eeyrak eeyrak 1 year ago Christine and her team were very patient, helpful and friendly. Thank you so much for helping us through our house buying process. Thank you for the cake pops. Read more Posted on Google Kenny Clark 1 year ago Have used Christine and her team for a house purchase and refinance and have been happy with their work. They helped me get approval on my second house when Scotia pre approved me for 0. I will be using them in the future for any new purchases or refis. Read more Posted on Google Cole Vandenheuvel 1 year ago Was an awesome experience, the whole team was great to deal with and very knowledgeable. They went above and beyond in breaking everything down and explaining all the details in renewing my mortgage. I will definitely be using them again in the future. Read more Posted on Google Tanaka Gwanzura 1 year ago Christine and her team are absolutely AMAZING. Very knowledgeable and patient. They give you all the options you have and explain everything for you to understand the pros and cons of each option. The regular updates of the process are amazing. From Christine to Monique, to Dakota, they truly are the best. Buying a house isn’t the easiest process, especially if it’s your first time, but they do an fantastic job of making it a more informative and less stressful process. I know for sure we will be going back to them in the future, no doubt about that. Highly recommend them. You can’t go wrong with the team they have. Read more Posted on Google Cory Smith 1 year ago I have worked with Christine and her team several times since my first house purchase in 2011. If I recall she was just a team of 1 back then. I have bought and sold several residential houses since then and I have always called Christine first. She is beyond knowledgeable with what she does, but it’s her welcoming and patient approach that stands out to me. Give her a try, you won’t be disappointed! Read more Posted on Google Eric Hansen 1 year ago Amazing team to work with. Made entire mortgage process a breeze, and offered numerous choices that fit our needs, cannot recommend them enough Read more Posted on Google Matthew Hodgson 1 year ago Christine and her team did an excellent job helping me get a mortgage with a reputable and fair mortgage provider. They were very helpful and explained the entire process in an understandable way which helped mitigate the stress that comes with purchasing a home. I would recommend this team to anyone looking to purchase a home now or in the future. Read more Posted on Google Gayleen Whyte 1 year ago Definitely 5 star service! Always someone available to ask questions, flexible hours and very friendly and understanding! I highly recommend this morgage broker! Read more Posted on Google -------------------------------------------------------------------------------- MORTGAGE ARTICLES Looking for a little more information before getting in touch? No problems! Have a look through my mortgage blog where we share valuable information about mortgage financing and the home buying process. Once you're ready, feel free to connect with me in whatever way you feel comfortable. I'm here for you! OLDER CANADIANS HAVE MORTGAGE OPTIONS By Christine Buemann • 04 Jul, 2024 Although it’s ideal to have your mortgage paid off by the time you retire, that isn’t always possible in today’s economy. The cost of living is considerably higher than it has ever been, and as a result, many Canadians are putting off retirement, hoping to make just a bit more money to add to that nest egg. So if you find yourself in the position where you’re considering your mortgage options into retirement, you’ve come to the right place. The advantage of working with an independent mortgage professional instead of a single bank is choice. When you work with an independent mortgage professional, you won’t be limited to an individual institution’s products; rather, you will have access to considerably more options. Here are some options available to older Canadians as they plan for mortgage financing through their retirement. Standard Mortgage Financing If you’ve got a steady income, decent credit, and equity in your home, there is no reason you shouldn’t qualify for standard mortgage financing, which usually comes at the lowest interest rates and best terms. Some lenders use pension and retirement income to support your mortgage application even if you’ve already retired. Reverse Mortgage Financing A reverse mortgage allows Canadian homeowners 55 years and older to borrow money from their homes with no proof of income, no credit check, and no health questions. A reverse mortgage is a fabulous mortgage solution that has helped thousands of older Canadians enhance their lifestyle. Home Equity Line of Credit (HELOC) A line of credit secured to the equity you have in your home is an excellent tool to allow you to access money when you need it but not pay interest if you don’t need it. Many older Canadians like the idea of rolling all their expenses and income into one account. Private Financing If you happen to be in a bit of a tight spot, you have a plan but need a financial solution; private financing might be the answer. Indeed not the first choice for many because of the higher interest rates. However, private financing can provide you with options where a traditional bank can’t. If you have any questions about securing mortgage financing for your retirement, please connect anytime. It would be a pleasure to work with you and walk you through all your options. WHAT YOU NEED TO KNOW ABOUT ONLINE MORTGAGE CALCULATORS By Christine Buemann • 20 Jun, 2024 You’d think an online calculator is a pretty straightforward device, one that you should be able to place your confidence in, and for the most part, they are. Calculators calculate numbers. The numbers are reliable, but how you interpret those numbers, not so much, especially if the goal is mortgage qualification. If you rely on the numbers from a “What can I afford” or “Mortgage Qualification” calculator without talking to an independent mortgage professional, you’re going to be misinformed. Don’t be fooled. Even though an online mortgage calculator can help you calculate mortgage payments or help you assess how additional payments would impact your amortization, they’ll never be able to give you an exact picture of what you can afford and how a lender will consider your mortgage application. While mortgage calculators are objective, mortgage lending isn’t. It’s 100% subjective. Lenders consider your financial situation, employment, credit history, assets, liabilities, the property you are looking to purchase. Then, they will compare that with whatever internal risk profile they are currently using to assess mortgage lending. Simply put, they don’t just look at the numbers. An online calculator is a great tool to help you run different financial scenarios and help assess your comfort level with different payment schedules and mortgage amounts. However, if you rely on an online calculator for mortgage qualification purposes, you’ll be disappointed. The first step in the mortgage qualification process is a preapproval. A preapproval will examine all the variables on your application, assess your financial situation, and provide you with a framework to buy a property based on your unique circumstance. Securing a preapproval comes at no cost to you and without any obligation to buy. It’ll simply allow you the freedom to move ahead with confidence, knowing exactly where you stand. Something a calculator is unable to do. Please connect anytime if you’d like to talk more about your financial situation and get a preapproval started. It would be a pleasure to work with you. GOING THROUGH A DIVORCE? PROTECT YOUR CREDIT By Christine Buemann • 06 Jun, 2024 Divorces are challenging as there’s a lot to think about in a short amount of time, usually under pressure. And while handling finances is often at the forefront of the discussions related to the separation of assets, unfortunately, managing and maintaining personal credit can be swept aside to deal with later. So, if you happen to be going through or preparing for a divorce or separation, here are a few considerations that will help keep your credit and finances on track. The goal is to avoid significant setbacks as you look to rebuild your life. Manage Your Joint Debt If you have joint debt, you are both 100% responsible for that debt, which means that even if your ex-spouse has the legal responsibility to pay the debt, if your name is on the debt, you can be held responsible for the payments. Any financial obligation with your name on the account that falls into arrears will negatively impact your credit score, regardless of who is legally responsible for making the payments. A divorce settlement doesn’t mean anything to the lender. The last thing you want is for your ex-spouse’s poor financial management to negatively impact your credit score for the next six to seven years. Go through all your joint credit accounts, and if possible, cancel them and have the remaining balance transferred into a loan or credit card in the name of whoever will be responsible for the remaining debt. If possible, you should eliminate all joint debts. Now, it’s a good idea to check your credit report about three to six months after making the changes to ensure everything all joint debts have been closed and everything is reporting as it should be. It’s not uncommon for there to be errors on credit reports. Manage Your Bank Accounts Just as you should separate all your joint credit accounts, it’s a good idea to open a checking account in your name and start making all deposits there as soon as possible. You’ll want to set up the automatic withdrawals for the expenses and utilities you’ll be responsible for going forward in your own account. At the same time, you’ll want to close any joint bank accounts you have with your ex-spouse and gain exclusive access to any assets you have. It’s unfortunate, but even in the most amicable situations, money (or lack thereof) can cause people to make bad decisions; you want to protect yourself by protecting your assets. While opening new accounts, chances are your ex-spouse knows your passwords to online banking and might even know the pin to your bank card. Take this time to change all your passwords to something completely new, don’t just default to what you’ve used in the past. Better safe than sorry. Setup New Credit in Your Name There might be a chance that you’ve never had credit in your name alone or that you were a secondary signer on your ex-spouse’s credit card. If this is the case, it would be prudent to set up a small credit card in your name. Don’t worry about the limit; the goal is to get something in your name alone. Down the road, you can change things and work towards establishing a solid credit profile. If you have any questions about managing your credit through a divorce, please don’t hesitate to connect anytime. It would be a pleasure to work with you. HOW EMPLOYMENT STATUS IMPACTS YOUR MORTGAGE APPLICATION By Christine Buemann • 23 May, 2024 Chances are if you’re applying for a mortgage, you feel confident about the state of your current employment or your ability to find a similar position if you need to. However, your actual employment status probably means more to the lender than you might think. You see, to a lender, your employment status is a strong indicator of your employer’s commitment to your continued employment. So, regardless of how you feel about your position, it’s what can be proven on paper that matters most. Let’s walk through some of the common ways lenders can look at employment status. Permanent Employment The gold star of employment. If your employer has made you a permanent employee, it means that your position is as secure as any position can be. When a lender sees permanent status (passed probation), it gives them the confidence that you’re valuable to the company and that they can rely on your income. Probationary Period Despite the quality of your job, if you’ve only been with the company for a short while, you’ll be required to prove that you’ve passed any probationary period. Although most probationary periods are typically 3-6 months, they can be longer. You might now even be aware that you’re under probation. The lender will want to make sure that you’re not under a probationary period because your employment can be terminated without any cause while under probation. Once you’ve made it through your initial evaluation, the lender will be more confident in your employment status. Now, it’s not the length of time with the employer that the lender is scrutinizing; instead, it’s the status of your probation. So if you’ve only been with a company for one month, but you’ve been working with them as a contractor for a few years, and they’re willing to waive the probationary period based on a previous relationship, that should give the lender all the confidence they need. We’ll have to get that documented. Parental Leave Suppose you’re currently on, planning to be on, or just about to be done a parental leave, regardless of the income you’re now collecting, as long as you have an employment letter that outlines your guaranteed return to work position (and date). In that case, you can use your return to work income to qualify on your mortgage application. It’s not the parental leave that the lender has issues with; it’s the ability you have to return to the position you left. Term Contracts Term contracts are hands down the most ambiguous and misunderstood employment status as it’s usually well-qualified and educated individuals who are working excellent jobs with no documented proof of future employment. A term contract indicates that you have a start date and an end date, and you are paid a specific amount for that specified amount of time. Unfortunately, the lack of stability here is not a lot for a lender to go on when evaluating your long-term ability to repay your mortgage. So to qualify income on a term contract, you want to establish the income you’ve received for at least two years. However, sometimes lenders like to see that your contract has been renewed at least once before considering it as income towards your mortgage application. In summary If you’ve recently changed jobs or are thinking about making a career change, and qualifying for a mortgage is on the horizon, or if you have any questions at all, please connect anytime. We can work through the details together and make sure you have a plan in place. It would be a pleasure to work with you! IS THERE A DIFFERENCE BETWEEN A DEPOSIT AND DOWNPAYMENT By Christine Buemann • 09 May, 2024 If you’re new to the home buying process, it’s easy to get confused by some of the terms used. The purpose of this article is to clear up any confusion between the deposit and downpayment. What is a deposit? The deposit is the money included with a purchase contract as a sign of good faith when you offer to purchase a property. It’s the “consideration” that helps make up the contract and binds you to the agreement. Typically, you include a certified cheque or a bank draft that your real estate brokerage holds while negotiations are finalized when you offer to purchase a property. If your offer is accepted, your deposit is held in your Realtor’s trust account. If your offer is accepted and you commit to buying the property, your deposit is transferred to the lawyer’s trust account and included in your downpayment. If you aren’t able to reach an agreement, the deposit is refunded to you. However, if you commit to buying the property and don’t complete the transaction, your deposit could be forfeit to the seller. Your deposit goes ahead of the downpayment but makes up part of the downpayment. The amount you put forward as a deposit when negotiating the terms of a purchase contract is arbitrary, meaning there is no predefined or standard amount. Instead, it’s best to discuss this with your real estate professional as your deposit can be a negotiating factor in and of itself. A larger deposit may give you a better chance of having your offer accepted in a competitive situation. It also puts you on the hook for more if something changes down the line and you cannot complete the purchase. What is a downpayment? Your downpayment refers to the initial payment you make when buying a property through mortgage financing. In Canada, the minimum downpayment amount is 5%, as lenders can only lend up to 95% of the property’s value. Securing mortgage financing with anything less than 20% down is only made possible through mortgage default insurance. You can source your downpayment from your resources, the sale of a property, an RRSP, a gift from a family member, or borrowed funds. Example scenario Let’s say that you are looking to purchase a property worth $400k. You’re planning on making a downpayment of 10% or $40k. When you make the initial offer to buy the property, you put forward $10k as a deposit your real estate brokerage holds in their trust account. If everything checks out with the home inspection and you’re satisfied with financing, you can remove all conditions. Your $10k deposit is transferred to the lawyer’s trust account, where will add the remaining $30k for the downpayment. With your $40k downpayment made, once you sign the mortgage documents and cover the legal and closing costs, the lender will forward the remaining 90% in the form of a mortgage registered to your title, and you have officially purchased the property! If you have any questions about the difference between the deposit and the downpayment or any other mortgage terms, please connect anytime. It would be a pleasure to work with you. RRSP AS A DOWNPAYMENT By Christine Buemann • 25 Apr, 2024 Did you know there’s a program that allows you to use your RRSP to help come up with your downpayment to buy a home? It’s called the Home Buyer’s Plan (or HBP for short), and it’s made possible by the government of Canada. While the program is pretty straightforward, there are a few things you need to know. Your first home (with some exceptions) To qualify, you need to be buying your first home. However, when you look into the fine print, you find that technically, you must not have owned a home in the last four years or have lived in a house that your spouse owned in the previous four years. Another exception is for those with a disability or those helping someone with a disability. In this case, you can withdraw from an RRSP for a home purchase at any time. You have to pay back the RRSP You have 15 years to pay back the RRSP, and you start the second year after the withdrawal. While you won’t pay any tax on this particular withdrawal, it does come with some conditions. You’ll have to pay back the total amount you withdrew over 15 years. The CRA will send you an HBP Statement of Account every year to advise how much you owe the RRSP that year. Your repayments will not count as contributions as you’ve already received the tax break from those funds. Access to funds The funds you withdraw from the RRSP must have been there for at least 90 days. You can still technically withdraw the money from your RRSP and use it for your down-payment, but it won’t be tax-deductible and won’t be part of the HBP. You can access up to $35,000 individually or $70,00 per couple through the HBP. Please connect anytime if you’d like to know more about the HBP and how it could work for you as you plan your downpayment. It would be a pleasure to work with you. ALL ARTICLES admin@premiummortgage.ca 250-613-3282 Schedule a call -------------------------------------------------------------------------------- DEAL FORM What's your first name? What's your last name? How did you hear about us? We love knowing who recommended us. What do you want to talk about? Purchase Refinance Rental Purchase Transfer Other What's your email address? What's your phone number? Anything else you'd like us to know about? Opt in to VIP club? Yes No Thank you for contacting us. We will get back to you as soon as possible Oops, there was an error sending your message. Please try again later CHRISTINE BUEMANN MORTGAGE TEAM admin@premiummortgage.ca 250-613-3282 1338 Central Street E. Prince George, BC V2M 3C1 Schedule a call MENU APPLY NOW CALCULATORS BANK OF CANADA RATE UPDATES RESOURCES VIDEOS VIP CLUB © 2024 Christine Buemann. All Rights Reserved | The Collective Mortgage Group | Privacy and Content Policy Share by: