Fixed rates continue to drop because of the low bond rates. We currently have a 3.69% 5 year and it’s quite possible it could go even lower. Variable remains steady at prime – .65%
When buying a home or other property, you will have to rely on a range of professionals to guide you through the process. For first time home buyers in particular, it helps to be acquainted with these specialists and their roles. Mortgage Broker – A mortgage expert who introduces buyers to a full range of … Read more
We have a 5 year fixed at 3.95% but that rate could get even lower. Our best closed variable rate is P-.70% (translation= 2.05% until next prime change in September).
1. Pre-Approval Getting a pre-approval is the first step to start a mortgage. A pre-approval will guarantee that you keep a certain rate for up to 120 days. Once a Broker finds out about your income and debts, an estimate can be made on how much you can afford to pay. In other words, you … Read more
Buying a home in British Columbia can be virtually impossible for some people in certain markets. Thus, many homebuyers unknowingly make offers on homes they cannot afford. Before beginning the bidding war on a potential property, it helps to have an indication of an affordable monthly mortgage payment. Some home buyers do not fully understand … Read more
The Basics Buying a home usually involves arranging a mortgage. That means you borrow money to finance your new home, using the home as collateral or security for the loan. Mortgages have been around for centuries because they allow people to buy and sell real estate, even when purchasers don’t have enough money to pay … Read more
I’ve wanted to write a good article on this topic for a while now because I think it’s one of the most misunderstood areas in my field. Before I really knew about the mortgage industry, I assumed that brokers made their livings in one of three ways: charging a fee, increasing a lender’s rate, or … Read more