HOME RATES ABOUT SERVICES VIDEO BLOG CONTACT ME TEAM
AGENT LICENSE ID
M10000094
BROKERAGE LICENSE ID
11995
Cecilia  Ragragio Mortgage Agent

Cecilia Ragragio

Mortgage Agent


Phone:
Address:
1024 Kennedy Road, Toronto, Ontario

BROWSE

PARTNERS

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

SAVING FOR A DOWN PAYMENT

2/6/2013

How will you save enough money for a down payment?

Saving enough money to buy a home can seem over-whelming. But with a sensible savings or investment plan, you may get your down payment faster than youthink.

1. Personal Bank Accounts - open a personal bank account and set aside money specifically for your new home. Make a habit of paying into this account regularly, just as you pay your monthly bills.

 2. Investments (TFSA, Stocks, Savings Bond)  as the money in your bank account grows, or if you already have money set aside, you may want to invest.

 3. Using RRSP's towards your down payment - Registered Retirement Savings Plans are a good way to secure your financial future while enjoying tax benefits today. You may also be able to use your RRSP saving towards the purchase of a home. The current Home Buyers Plan lets first-time home buyers withdraw up to$25,000 from their RRSP to buy or build a home. The amount withdrawn is treated as a loan and must be repaid within a 15 year period, starting in the third year after the withdrawal.


MY LENDERS

Scotia Bank TD Bank First National EQ Bank MCAP Merix
Home Trust CMLS Manulife RFA B2B Bank Community Trust
Lifecycle Mortgage ICICI Bank Radius Financial HomeEquity Bank CMI Bridgewater
Sequence Capital Wealth One Fisgard Capital Bloom Financial NationalBank