tag:blogger.com,1999:blog-90816577944606101952024-10-09T06:06:43.245-07:00Keeponyakkinghttp://www.blogger.com/profile/06103995191555734659noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-9081657794460610195.post-65456390145469646522010-02-16T20:32:00.000-08:002010-02-16T20:46:25.511-08:00So what does this mean to you?<br /><br />If you are a 1st time homebuyer?<br />then the banks will now use a 5year fixed rate to Pre-qualify you for a mortgage. <br /><br />Will it be more difficult for you to be qualified? not at all, it all depends on your current income, downpayment and credit bureau scores. If you are currently living on the edge, meaning from paycheck to paycheck and have unsecured debt to payoff and you want to purchase your own home. Then some planning will be necessary. Now is a great time to do that with RSP season. Get an RSP loan to maximize your RSP contributions for your 2009 taxation year and use your tax refund to pay down your unsecured debts (i.e credit cards/car loans etc) you will be borrowing at prime +1.50% and paying off debts at 19.75%. This will mean more money in your pockets to put into savings. This is just one of many ways you can save and reduce debts. I'd love to tell you more.<br /><br />Let me know your thoughts!Keeponyakkinghttp://www.blogger.com/profile/06103995191555734659noreply@blogger.com0