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On March 18, there are some new mortgage rules coming into effect that will have a direct impact on your buying power. You can afford more: Before March 18, you will be able to qualify for a mortgage 8% larger. As an example, if you qualified for a $500,000 mortgage before the new rules, you … Read more
Get your applications in, because it looks like rates in BC are going up.
I’ve received a lot of questions about the new mortgage rules that will be taking place on March 18th. Basically, there are three main things: 1. Maximum high-ratio mortgage amortization is reduced from 35 years to 30 years. Ok, Cool. What does this mean? A high-ratio mortgage is anything with less than 20% down … Read more
By using me as your mortgage broker, you will have access to some of the lowest rates in BC. I pool my deals with several other Vancouver mortgage brokers in order to get maximum discounts from the banks.
There is never any fee or charge for using my services on a residential mortgage. You can leave at any point for any reason. My only incentive is to keep my clients happy and returning.
I will never try to sell you on anything. All I do is present you with a list of options and give my professional, unbiased advice.
This is what should happen in the ideal home buying process in British Columbia: You are thinking of buying a place. You contact a Mortgage Broker, and he gets you pre-approved. You speak to a Realtor and tell him you have been pre-approved for X dollars. You find the home of your dreams and the … Read more
BC Home Owner Grant: The basic grant can reduce your property tax by as much as $570. To be eligible for the grant, you must meet the following criteria: You are a Canadian citizen or landed immigrant and ordinarily reside in British Columbia. You are the registered owner or eligible occupant of the home. The home must be located within the province. … Read more
The Home Buyers’ Plan (HBP) is a program that allows you to withdraw up to $25,000 from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. I’ve tried to cut out some of the extra content, but you can also view the government’s official Home Buyer’s … Read more
CONVENTIONAL MORTGAGE In British Columbia, if you have at least 20% of the purchase price (or appraised value if this is lower than the purchase price) as a down payment, you can apply for a conventional mortgage. Some lenders will require CMHC insurance because of the property’s location or type, even though you have 20% … Read more
