07
Feb 2011Fixed Rates Going Up
Get your applications in, because it looks like rates in BC are going up.
20
Jan 2011New Mortgage Rules: March 18
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 payment. So if you have 20% down, you can still…
11
Dec 2010Lowest Rates in BC
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.
10
Dec 2010No fees or charges, ever.
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.
09
Dec 2010Honest Advice
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.
01
Nov 2010Summary of the BC Home Buying Process
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 Realtor negotiates a price for less than X dollars. Your…
01
Nov 2010Tax Benefits For BC Home Buyers
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. The home is your principal residence -where you live and conduct…
01
Nov 2010BC Home Buyers Plan
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 Plan description. I also compiled a booklet for first time home…
01
Nov 2010Mortgage Types in BC
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% or more equity. HIGH-RATIO MORTGAGE If you…
14
Oct 2010Mortgage Terminology For BC Home Buyers
Adjustment Date: Date agreed to by both parties to a real property transaction for the adjustment of property taxes, rent, interest, and other items. Affidavit: A written statement of facts, the contents of which are sworn under oath to be true by the person making the statement. An affidavit is sometimes used in court proceedings as evidence in place of oral testimony. Agreement for Sale:…
