Hello to all my valued clients!   I am pleased  to announce that in order to serve you better I have moved to Verico Complete Mortgage Services. Same contact information and same great service!

So Spring is in the Air…   Already…  Or at Last after the incredible winter that we have had.  Time to clean-up and organize your home and your finances!

The government recently has made a few changes and  I wanted to make sure my valued clients are made aware of these. These changes are a Home Renovations Tax Credit; ecoEnergy Retrofit Program and changes for first homes and first time homebuyers.

Natural Resources Canada’s (NRCan’s) ecoENERGY Retrofit program provides financial support to homeowners, small and medium-sized businesses, public institutions and industrial facilities to help them implement energy saving projects that reduce energy-related greenhouse gases (GHGs) and air pollution, thereby contributing to a cleaner environment for all Canadians.

Home Renovation Credit – tax relief of up to $1350.00 is available on home improvement projects taken on between Jan 27 of this year and Feb 1, 2010.  There are specific inclusions and exclusions, so make sure that you contact me if you are interested in this program. Read more here.

ecoENERGY Retrofit Program – additional federal government funds have been allocated to this program making refunds available for a variety of energy-efficient upgrades.

First Homes - people purchasing their first homes are now able to withdraw up to $25,000.00 from their RSP’s – an increase of $5,000.00 – to put towards their new home purchase, without incurring a tax penalty.  If there are two of you, that’s an extra $10,000.00, which certainly helps!

First Time Homebuyers – there’s a new tax credit for first time buyers to help offset the legal fees and other costs of buying a new home.  Starting this year, a 15% tax credit applies on costs up to $5,000.00, which means a maximum tax savings of $750.00.

As well with theses economic conditions there are several ways that I can help you save money, improve cash flow and provide information that can help you with financial decisions. .

If you are looking to use the tax credit and require money for that Kitchen remodel or any other project you have been putting off give me a call and we can discuss how best to structure your mortgage finances to maximize your return on your equity.

With the rates being the lowest we have seen in decades it is wise to have a mortgage checkup done to ensure that all your options are reviewed. Keep in mind that you don’t have to wait for your current mortgage term to be up for renewal before you re-negotiate your financing.

Linda Renaud, B.Comm.
Verico Complete Mortgage Services
Kelowna:  (250) 878-6706