Navigating Down Payment Options with Trusted Regina Mortgage Broker Ryan Boughen

5. Mar 2024 Trusted Regina Regina Mortgages, TRUSTED TIPS

The land of mortgages is big, and Ryan Boughen, a multi-award-winning Regina Mortgage broker with TMG The Mortgage Group, understands how confusing it can be with new rules, rates and information appearing regularly in the market. There are also dozens of lenders with thousands of mortgage products available. Ryan Boughen is a Trusted Regina Mortgage Broker, and in his latest mortgage tip, he shares down payment options and how much money you need to buy a house.

Unlocking Homeownership: Navigating Down Payment Options with Trusted Regina Mortgage Broker Ryan Boughen

You’re not alone if you’ve ever dreamt of owning a home. However, the path to homeownership often begins with the question: How much money do I need for a down payment in Regina?

Fear not, for we have Ryan Boughen, a trusted mortgage broker from TMG The Mortgage Group, to guide you through the ins and outs of Canadian down payment options and demystify the process of acquiring your dream home in Saskatchewan.

Before we delve into down payment options, let's take a moment to appreciate the Regina area’s unique real estate landscape. With its city life, lake communities, thriving bedroom communities, acreages and lots of diverse housing options, this area of the province offers a range of opportunities for prospective homeowners. Whether you're eyeing moving full-time to the lake and commuting to work from Regina Beach, or it’s time to look for a spacious family home in the city. The key to unlocking these dreams lies in understanding your down payment.

Canadian Down Payment Basics:

The minimum down payment in Canada to purchase a home depends on the property's purchase price. While the nationwide standard is 5%, I want to emphasize the importance of considering your financial situation and long-term goals. A higher down payment reduces your mortgage amount and can lead to lower monthly payments and interest costs.

Down Payment Programs:

The journey to homeownership becomes even more exciting with the availability of down payment assistance programs. As your dedicated TMG Regina mortgage broker, my team and I will walk you through various programs designed to make your dream home more attainable. From the First Home Savings Account (FHSA) to the Home Buyers' Plan (HBP) for RRSP withdrawals, these programs offer financial incentives and flexibility, ensuring that you can make a confident investment in your future.

Gifts:

Gifts are allowed from immediate family members (parents, grandparents, children), as well as non-purchasing spouses.

Flex Down (borrowed down payment):

Borrowers with a strong credit history and access to credit or a loan from a friend or family member may use borrowed funds for their down payment. The buyer must be able to afford the extra payments from the loan.

Customized Solutions for Every Homebuyer:

As a seasoned mortgage broker, I understand that each homebuyer is unique, and there is no one-size-fits-all solution. I take a personalized approach to mortgage brokering, tailoring my guidance to your specific needs and financial circumstances. Whether you're a first-time homebuyer or considering an upgrade, my team’s commitment to excellence ensures a smooth and enjoyable journey to homeownership.

Embarking on the path to homeownership in Saskatchewan is an exciting adventure, and with Ryan Boughen by your side, it becomes a seamless and rewarding experience. As you explore the various down payment options and navigate the intricacies of Saskatchewan's housing market, remember that your dream home is within reach.

Trust in Ryan Boughen, and let the journey to your new home begin!

Ryan and his team of Regina mortgage experts will determine your specific needs and then review and analyze the best mortgage option for you.

Mortgage Options Offered Include:

Get Approved On Ryan's Website Today - It Costs Nothing!

Check Out More of Ryan's Reviews Here

Your Best Regina Mortgage Broker

Ryan Boughen Is A Trusted Regina Mortgage Broker

CONGRATULATIONS Dusyk & Barlow Insurance Brokers- Celebrating 10years as Trusted Regina Insurance Brokers

5. Feb 2023 Trusted Regina Regina Insurance, Trusted Partner News, TRUSTED TIPS

CONGRATULATIONS, DUSYK & BARLOW INSURANCE BROKERS- CELEBRATING 10 YEARS OF TRUSTWORTHY BUSINESS PRACTICES IN REGINA

TRUSTED REGINA RECOGNIZES OUR PARTNERS WHO HAVE BEEN TRUSTED FOR OVER 10 YEARS!

In this series of recognition articles, we continue to spotlight the businesses that have been Trusted Regina Partners for over ten years. Currently, we are recognizing the group of Partners that joined the Trusted Regina community in 2012. We want to thank them for TRUSTING our team, and we are identifying each of them individually for providing ten years of OUTSTANDING service to the citizens of Regina and the surrounding area! This latest article celebrates and recognizes Dusyk & Barlow Insurance brokers.

“Protecting What’s Important Since 1936”

DUSYK & BARLOW INSURANCE BROKER

Dusyk & Barlow is a 100% locally owned Regina Insurance Brokerage providing honest, reliable, and personalized service to all its clients. Their long-standing reputation in the Regina community remains strong through maintaining high standards of excellence and ensuring that their client’s insurance needs are met.

Dusyk & Barlow are proud to have provided insurance services to Regina and area residents since 1936, that's for over 87 years! The team prides itself on providing superior customer service and maintaining its reputation as a trusted and reliable locally-owned and operated Regina insurance business for the next 80 years! Their success is powered by their team of insurance experts, who take the responsibility of protecting you and your family very seriously. They live and breathe insurance and want to make sure you have peace of mind knowing your home, business, and family are adequately insured for all of life’s circumstances.

Dusyk & Barlow has access to eight different insurance providers. This means that all the company’s brokers must constantly keep themselves up to date on what each insurer provides. Through Dusyk & Barlow’s website, clients can access many SGI services and obtain home insurance quotes. Their decades of experience prove particularly valuable for that purchasing insurance for commercial endeavours. The Regina brokers work with clients to determine what they feel they need to have insured versus how much risk they could feel comfortable assuming for themselves. Another bonus for Dusyk & Barlow’s commercial clients is that the company is licensed to provide insurance in all western provinces from B.C. to Manitoba. This is particularly valued by clients who open a business in Saskatchewan and later expand into other western provinces.

FAMILY-OWNED REGINA INSURANCE BROKERS

A quick Google and you will see many online reviews; the customer feedback is consistently excellent. They have many loyal clients who have been Dusyk & Barlow Insurance clinets for generations.

What Their Clients Say...

"I have gone to Dusyk and Barlow for 10 years, for all my home, auto, and rental property insurance needs. Amazing brokers who always works to find the best options for me, and all the staff are friendly, professional, and knowledgeable." A.J- Google

" All staff are very pleasant and easy to understand. When ever I need something, Jenna or another coworker goes over and above my expectations. Super convenient location! Have been with for about nine years and will stay as long as I'm in SK. Nice to see some businesses still have that personal touch." - Kevin Gwillim, Google

A word from Stephen Barlow

"We’re there to answer questions and make sure the client knows what to expect and what to do. We make sure the client is fully aware of how the process works and that they are doing everything right. We’d rather you ask a question now than after something happens and find out that something could have been done. We want to educate our customers, so they know exactly what they are getting. It may not always be the answer the client is looking for, but they can be assured when they leave here, they’ve got the proper information,” says Stephen. “It has served us well and still does going forward.”

A word from Sara, the Trusted Regina founder, about her personal experience with Dusyk & Barlow Insurance.

"Dusyk & Barlow Insurance Brokers have been the Insurance brokers for Trusted for over ten years, and I have found the staff to be knowledgeable, courteous and super helpful. Stephen, Rob, Kendrick and the management team lead by example; they are a pleasure to deal with as clients and as a customer. This local family owned company has a huge heart and I am impressed with their ongoing commitment to supporting the Regina community. Dusyk & Barlow Insurance sponsor many local community initiatives, and in addition, they hold an annual pancake breakfast every summer, which started in 2011 and their Four Weeks of Christmas Cheer, where they choose four different local non profits /causes to contribute time and funds to over the Christmas season." - Sara Wheelwright

Thank you for TRUSTING us, Stephen, Rob, Kendrick and the team at Dusyk & Barlow. The company has provided ten years of AMAZING insurance service to the people of Regina & area as a Trusted Regina Insurance Partner. We are proud to support you and to share that they have diligently upheld the 5 TRUSTED GUARANTEES of service.

Ready To Retire? Trusted Regina Financial Advisors at Worby Wealth Management Share Their Advice

6. Apr 2022 Trusted Regina

Finding the shortest and safest route to any of your dreams requires planning and only with a carefully thought out financial plan can you be sure to make the most of your resources and to protect against risks along the way. At Worby Wealth Management, Chris & Jeremiah Worby will do their best to help you achieve those dreams with a plan that is tailored to your specific needs and based on your individual situation.

Let Trusted Regina Financial Advisors Chris & Jeremiah Worby of Worby Wealth Management help you live your dream!

Expert Financial Advice Regarding Retirement.

Retirement Considerations

One of the biggest financial questions on everyone’s mind is whether or not they will have enough money to retire? Not only do savings and investments need to be taken into the equation, income and expenses also need in-depth analysis.

Income*

Old Age Security (OAS)

The OAS pension is a monthly pension payment payable to eligible individuals. OAS pension benefits are considered taxable income. To be eligible for full payment, you must:

• be 65 or older

• be a Canadian citizen or legal resident of Canada at the time of application approval

• if you no longer live in Canada (a non-resident), you were a Canadian citizen or legal resident of Canada on the day preceding the day of departure from Canada

• have lived in Canada for a minimum of 10 years (or 20 years for non-residents) after reaching age 18

Individuals who have lived in Canada for 40 years after the age of 18 are eligible for 100% of the OAS pension benefit.

Canada Pension Plan (CPP)

CPP program benefits, except for the death benefit, are indexed annually for increases in the cost of living. In order to receive CPP program benefits, eligible individuals must apply. Benefits are not automatically paid once someone reaches the age of eligibility. Applications are accepted via two methods; online through the My Service Canada Account, or via paper forms mailed to the applicable Provincial CPP office.

You can start receiving CPP as early as age 60 (at a reduced rate) and as late as age 70 (at an increased rate). The maximum CPP payment in 2022 is $1,253.59 a month.

Tax Free Savings Account (TFSA)

The tax-free savings account (TFSA) provides a way to earn investment income tax-free. Whereas other registered accounts allow the deferral of tax on income earned within the plan; the TFSA is unique in that any investment income earned within the plan is tax-free when it is withdrawn. In order to open a TFSA account, you must have reached the age of majority, defined as age 18 or 19, for the province or territory in which you live. The types of investments permitted in a TFSA include cash, mutual funds, securities listed on a designated stock exchange, guaranteed investment certificates (GICs), bonds, and certain shares of small business corporations.

The annual TFSA dollar limit was established at $5,000 in 2009, the year that TFSAs were introduced as a registered account. Any unused amounts are carried forward to future years. The $6,000 contribution room for 2022 means the lifetime contribution limit is now $81,500.

Registered Retirement Savings Plan (RRSP)

A registered retirement savings plan (RRSP) is a type of registered savings plan set up underthe Income Tax Act and registered with the Canada Revenue Agency. An RRSP is not an investment; you cannot buy an RRSP. Instead, an RRSP is a registered investment vehicle within which investors can deposit various types of investments. In order to contribute to anRRSP, an individual must have earned income.

The growth of money invested inside an RRSP is not subject to tax until it is withdrawn. In other words, the tax payable on investment growth is deferred until the future. Since income earned inside an RRSP is tax-sheltered, RRSP investments grow much faster than non-registered investments held outside an RRSP.

Find out more

Whether you’re 30 years away or just a few months from retirement, proper retirement planning is essential. Contact Worby Wealth Management to start planning your retirement today.

*Source: Canadian Investment Funds Course

Some of the services that Worby Wealth Management can help you with:

TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!

The Trusted Regina Team are Thrilled to Introduce you To Artemis Homes A Trusted Regina Home Builder

13. Mar 2022 Trusted Regina Regina Auto Body

The Trusted Regina team is thrilled to brag about Artemis Homes our newest Trusted Regina Partner! We are thrilled to welcome Myles and the team to the Trusted Regina Community of business operated with integrity. Artemis Homes is a Trusted Regina Custom Home Builder

Artemis Homes-Innovation, Comfort, Community

At Artemis Homes, they focus on building high-quality, single-family homes throughout the Regina area. The leadership team headed up by President Myles Winnicki & Chairman John Grant have decades of combined construction and customer service experience.

Artemis Homes are dedicated to offering professional exterior and interior design, made with quality materials and extreme value. With over 450 builds across Western Canada under their belts, they strive to meet the needs of their customers and strengthen the community one home at a time. They work closely with the local home plan designers at Robinson Residential, and currently, Artemis Homes boasts impressive 11-floor plan options to choose from (and growing).

The Artemis team have build's happening across the city, from infills in the highly sought after Cathedral District to plots at Westerra, a 490-acre Community located off Dewdney Avenue in West Regina, that offers a truly unique living experience.

Myles (pictured right) runs a tight ship, and he is passionate about maintaining excellence in every aspect and at every stage of every build. When the Trusted team toured some of the current homes under construction we were very impressed by how clean and tidy the job sites are. Myles pointed out the details that matter to him, including the triple glazing, which is a standard feature in all Artemis Home. Myles is the face of Artemis and he has been involved within the construction industry for over 35 years. He started out as a construction labourer and over time he worked his way up the ladder gaining valuable experience on the way. He has developed a reputation within the industry for being immensely prepared and organized leading to an efficient build process. Myles truly understands what goes into building your home and he will ensure it is built right.

We take pride in our work and run our business with integrity. We truly love doing business in Regina and are proud to be part of this wonderful community. Trusting a good, reputable home builder with one of life’s biggest investments is very important and we don’t take your trust in us lightly. The Artemis team is committed to client satisfaction and we even offer a doorstep-to-deck warranty. That’s right, we stand behind what we build! - Myles Winnicki

WHY Choose Artemis Homes?

If you are looking for a Regina home builder there are many reasons we recommend considering Artemis Homes and we list a few of them below:

They are a team of skilled individuals who stand behind the work they do. You can see their commitment to integrity from the planning stages all the way through to completion
They put their all into everything they do, right down to the last detail. You want your home to be perfect…and so do they!
They strive to be on the leading edge of home building innovation best practices.
They focus on the details that matter. If you walk through their show home you won't fail to be impressed at features like the lighting and the mouldings.
Their warranty- their industry-leading doorstep to deck protection. Two-year open warranty, giving you peace of mind.

As part of the Trusted Regina verification process, we spoke to several clients and suppliers to get a feel for how they operate. When we chatted to their interior designer Erica Eftodie, who is an Interior Design Technologist at Robinson Residential she said,

"Artemis will allow designs to have quality products and materials in order for the concept to come together in a meaningful way. Attention to detail is important when a design package is created and Artemis takes the time to understand why you chose the finishes you chose and agrees to make each individual choice a priority to pulling off the entire look. They do not shy away from designs or cut corners because they are complex, expensive, or time-consuming, they put pride into their work and make the home beautiful so that the space can be enjoyed by anyone who resides in it."

Check out the Artemis Homes Trusted Regina Listing to read more reviews and to see all they do. Be assured their team has a personal commitment to exceed their clients' expectations through quality service, build practice, construction, and value

Artemis Homes Is A Trusted Regina Home Builder

Trusted Regina Insurance experts at Campbell & Haliburton Tip On Basic Auto Damage Insurance

13. Feb 2022 Trusted Regina Regina Insurance, TRUSTED TIPS

Trusted Regina Insurance experts at Campbell and Haliburton Insurance Inc have been in the community for over 50 years. They know it is customer service and knowledge that counts when you are in need of an insurance company in Regina. Campbell & Haliburton Insurance, myCH.ca, dedicated insurance brokers in Regina can assist you with finding the plan that works best for you. In their latest Trusted Regina Insurance Tip, they share a tip on Basic Auto Damage Insurance

. In our latest Campbell & Halliburton Regina auto insurance tip, we share important information from SGI that explains basic auto insurance coverage.

Basic Auto Insurance Coverage – Tips and Information From Campbell & Haliburton Insurance

When you register a vehicle, you pay a flat registration fee and get a basic package of insurance on your plates. The insurance includes:

coverage for damage to your vehicle, subject to a deductible
personal injury insurance from a vehicle collision
liability insurance for damage your vehicle causes to another vehicle or property, or injury to others

Vehicle damage and your deductible.

Physical damage your vehicle suffers from a collision is covered by your basic plate insurance, subject to a deductible. The deductible is the amount you must pay before your basic plate insurance covers the rest of the costs. Most vehicles with basic plate insurance have a $700 deductible.

If you have minor damages that will be less than your deductible to fix and you won’t make an insurance claim, you can pay for the repairs on your own. This is also true if you are responsible for the damage.

The chart below shows the specific deductible amount that applies based on the class of the vehicle.

Class	Vehicle Type	Deductible
Class A	Light vehicles (under IRP)	$700
	Heavy trucks Heavy cargo vans Power units	$2,500
	Pro-rated heavy trucks Cargo vans Power units	$15,000 (optional)
Class C	Heavy trucks Heavy cargo vans Power units	$700
Class D	Heavy trucks Heavy vans Power units	$700
Class LV	Passenger vehicles Motorcycles Motorized bicycle/pedal cycle Antiques	$700 $700 $350 $500
Class MT	Snowmobiles	Not applicable¹
Class PV	Heavy trucks Heavy vans Power units	$700
Class PV	Antiques	$500
Class TS	Trailers Semi-trailers	$500
Class T	All trailers (except metal or fibreglass/other cabin trailers	$400
Class T	Metal cabin trailer Fibreglass/another cabin trailer	Based on customer declared value: Valued at $1,000 or less - $400 Valued at $1,001 or less - $500

Who pays the deductible after a collision?

Whether or not you pay your deductible depends on who caused the collision and if your vehicle has been damaged.

Situation	Pay deductible?	Details
You’re responsible for the collision	Yes	If the cost to fix your vehicle is more than your deductible, your basic plate insurance covers the difference.
You’re not responsible for the collision	No	The responsible driver’s insurance covers the cost to fix your vehicle.
Your vehicle wasn’t damaged in the collision	No	If your vehicle isn’t damaged, you don’t have to pay your deductible. This applies if you’re responsible for the collision or not. If the other driver’s vehicle is damaged, your insurance covers the cost to fix it.
You and the other driver are equally responsible for the collision and your vehicle was damaged	Yes – you pay half	If the cost to fix your vehicle is more than half your deductible, your basic plate insurance covers the difference.
You and the other driver are equally responsible for the collision and your vehicle was damaged, but the other driver is uninsured or from outside Saskatchewan	Yes	You pay your full deductible up front but SGI will try to get half of it back from the other equally responsible driver.
Your vehicle is stolen, vandalized, or damaged from a: hit and run storm fire collision with an animal single-vehicle collision	Yes	You pay your full deductible when there’s no other party to collect it from.

Deductible Payment Plan

If you have basic plate insurance and you're eligible, you can use the to pay your deductible over 10 months.

Reduce your deductible

If you want to pay a smaller deductible, you can buy an SGI CANADA Auto Pak with the deductible option that works best for you.

Coverage for vehicle damage

Your vehicle is covered for its actual cash value. This is the market value of your vehicle when compared to similar vehicles, with similar equipment, mileage and condition as your vehicle.

Coverage limitations

There are some limitations on vehicle damage coverage. For example:

Loss or damage to a vehicle insured under antique use
- $800 less your deductible of $500
Loss or damage in classes A, C, D or TS (commercial trailers)
- unless it says otherwise, limited to $15,000 or the declared value, less your deductible
After-market audio, visual, sound or communication equipment
- capped at $1,500 per incident or collision - $2,200 less your $700 deductible

If your vehicle is damaged, take steps to make sure more damage doesn’t happen. For example, if your vehicle's window is broken, put a plastic cover over the window to prevent water damage from rain.

Extra damage coverage

For increased protection, you can choose to buy with an auto extension policy through your insurance broker.

Liability insurance

If you’re responsible, or liable, for a collision, you’re responsible for the cost of the damage you’ve caused, which includes:

damage to personal property
physical injury or death to another person
a victim’s lost or potential income

Your basic plate insurance includes $200,000 of liability coverage. If you’re responsible for losses more than $200,000, you’ll have to pay for the difference out of your own pocket.

Increase your liability insurance

If you'd like to increase your liability insurance coverage, you can choose to buy an auto extension policy through your insurance broker with the liability coverage limit you like best.

Injury insurance

All Saskatchewan residents, drivers and non-drivers, are automatically covered with No-Fault injury coverage unless they choose Tort injury coverage. Any physical injuries you suffer from a collision are covered under your basic plate insurance. For details visit the .

Examples of coverage

Example 1: You're responsible for a collision that causes a fair amount of damage to another vehicle. The other driver also has minor injuries and needs 3 months of physiotherapy after the collision.

Total cost of other driver's injuries and repairs	$15,000
Total paid by SGI	$15,000
Total paid by you	$0

Example 2: In the same collision as above, your vehicle also needs a few repairs:

Total cost of repairs to your vehicle	$1,000
Total paid by you (deductible)	$700
Total paid by SGI	$300

Your total cost for this collision is $700. Without the liability insurance included in your basic plate insurance, you would have been responsible for $15,000 from your own pocket.

As you climb into your vehicle the next time, you can do so with the assurance that you are covered with the auto insurance that best meets your needs. If you don’t have an insurance broker and want to talk to someone who is truly passionate about your insurance, contact Campbell & Haliburton Insurance.

Our Trusted Regina Insurance Agents at Campbell & Haliburton have your best interests and safety in mind and our commitment to customer service is one of the pillars of our business. We also know insurance inside and out, so please contact us for all of your insurance needs and we will be more than happy to help ensure what you value most is protected.

**(This is a general overview. There are many different insurance companies, and there are always differences in insurance policies. For specific details on your policy and coverage, we recommend that you contact your agent or broker.)