Karen Boies

Mortgage Planner

  • Take advantage of the home reno tax credit

    Many people have been phoning and asking us about how best to take advantage of the Home Renovation Tax Credit. Many people don’t know how to take full advantage of this…and time is running out. HRTC is a non-refundable tax credit based on allowable expenses for work done, or renovation items purchased after January 27, 2009, and before

  • The Problem With Decorating Allowances

    In order to maintain a certain price point, many sellers of new properties will offer “incentives” to purchasers in lieu of a reduction in the price. The most common one is to include a “decorating allowance”. I have seen “decorating allowances” as high as $100,000 but they can be of any amount. This basically means

  • Stated Income Vs. Equity: What is the difference?

    I had the pleasure of training a few new Mortgage Planners yesterday in our office. One of the most interesting topics that was discussed was “Isn’t equity and stated income financing the same?” The answer is “NO”. Let me explain. Many institutional lenders (banks, credit unions, etc.) and all three mortgage insurers (CMHC, Genworth & AIG )