Monthly Archives: July 2013

Receive extra money back by buying a new house

Nova Scotia First Time Home Buyer’s Credit In March 2012, the Nova Scotia Government extended and doubled the first time home buyer’s credit from $1,500 to $3,000.  This means a first time homebuyer who purchases a new house is eligible for a rebate of 1.31% of the purchase price up to $3,000. This means if [..]

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Mortgage Insurance – the Basics

What is Mortgage Insurance?  Why do I need it? Mortgage Insurance is required for people who put less than 20% down on the purchase of their new house.  The minimum down payment required when using mortgage insurance is 5%.    This means on a $129,950 house the minimum downpayment required is $6,497.50. What’s the benefit of [..]

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