iStockphoto LP[/caption]
Amid the current housing environment and in light of the wide range of mortgage solutions available on the market, how can you select the product that is best suited to your particular situation?
Fixed or variable rate?
When faced with having to choose a mortgage solution, many wonder which is more financially advantageous: a fixed or a variable rate mortgage?[……]
AD
Have you ever tried to contact a financial institution to learn more about a special promotion, only to discover that in reality, it wasn’t at all suited to your needs?
Financial packages are developed to satisfy the needs of a clientele whose priorities vary tremendously based on personal situations.
National Bank has therefore decided to take the time to thoroughly understand your reality in order to establish your financial profile and propose actions that can truly help you achieve your objectives. Because it’s only once we understand a situation completely that we can then plan accordingly and determine the best means to the end we seek.
[caption id="attachment_751" align="aligncenter" width="522"]
iStockphoto LP[/caption]
Financial packages tailored to the needs of professionals and students
When it comes to developing financial packages, our approach has been to offer you personalized service by granting you access to specialized advice and services. Depending on your occupation, you can benefit from several banking privileges:[……]
iStockphoto[/caption]
It seems so easy at first glance! We are preparing to complete our tax return when the accountant suddenly brings us back to earth. “Careful, you’re not really a co-owner in the legal sense of the term.” What? “Another thing, about the old building you purchased, the cost of renovations may be a capital expenditure.” What? “Before I forget, did you know that the money you spent to advertise your space for rent is generally considered a tax-deductible expense?” What?
The temptation is strong to just give the accountant all your papers: “Here, take care of it. It’s too complicated for me!” and wash your hands of it. Then doubt sets in as you lay on your pillow that night. No, you tell yourself, I have responsibilities as an owner, and I will assume them. It’s my duty to understand a minimum of what there is to understand.[……]
iStockphoto[/caption]
Savings Account (TFSA) are two savings vehicles that each have their own objectives and advantages. However, which one is best for you?
When should you choose an RRSP?
The RRSP is most often used to build savings, tax free, for use at retirement. Tax on earnings is deferred until the funds are withdrawn from the plan, generally at retirement age. The RRSP is an excellent way to defer a portion of your salary in order to make up for any shortfalls in your income after you retire. Also, RRSP contributions can be deducted from your taxable income, which could lead to potential tax refunds.
[……]
iStockphoto[/caption]
There are many reasons for buying a second home: you may be dreaming of a weekend place in the country, a chalet in the mountains, a downtown pied-à-terre for those trips to the big city or even a place for your children to live in while they’re away at university.
Whether it’s a seasonal getaway or a year-round home, National Bank’s Second Home Program will help you make your dream a reality.[……]
iStockphoto[/caption]
Regardless of the reason – renovations, buying a home – new financing always entails new responsibility.
That new responsibility is undoubtedly a good fit with your current lifestyle, which is why you obtained the financing you requested. Should an unexpected misfortune occur, however, that responsibility could quickly become a heavy burden.
Why should you take out loan insurance?
Mortgage financing is possibly the largest investment you will ever make in your life. Your mortgage payments represent a significant portion of your expenses.
Loan insurance is the solution that will ensure everyone’s peace of mind.*
[……]
iStockphoto LP[/caption]
The purchase of a first house involves reflection and planning. By following the proposed stages, you will put all the chances on your side to make your project a success. More details for these steps are available by clicking the following links, or go to National Bank’s website www.nbc.ca
1. Calculate your borrowing capacity
Estimate how much National Bank could give you to buy your property.
Your National Bank advisor can help you calculate your borrowing capacity by reviewing your financial situation. You can also have an idea of your borrowing capacity by using our calculation tool.[……]