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5 tips to boost that down payment and avoid insurance fees

5 tips to boost that down payment and avoid insurance fees

CAMILLA CORNELL, SPECIAL TO THE TORONTO STAR When Cris Lam bought her pre-construction Toronto condo in 2014, she was in the enviable position of having a big enough down payment to avoid mortgage default insurance fees. Even with her parent’s contribution, Lam needed a financial planner’s help. She met with Victor Godinho, a financial planner with Pangea Personal Financial Planning,…

Flexibility is Key to First Home

Flexibility is Key to First Home

Despite pitfalls, getting on the ladder as a young buyer is possible. Molly McGrath, 25, and Jonathan Palmer, 27, began their house hunt in early January. “We had just gotten engaged,” she says. “And a gift from my grandfather made it possible for us.” But the couple’s introduction to the Toronto housing market was like a bucket of cold water over her head.

Ditching your wallet wholesale for plastic cards and mobile payments may be a bad idea, say financial advisers

Ditching your wallet wholesale for plastic cards and mobile payments may be a bad idea, say financial advisers

Financial planner Victor Godinho said goodbye to his wallet four years ago and hasn’t looked back. The 23-year-old adviser at the VTAG Financial Group Inc. in Toronto was one of the early adopters of the “cashless” lifestyle, a move to ditch pocket change and bills in favour of plastic cards and mobile phone payments.