LESS HASSLE. LOWER RATES. STRAIGHT FORWARD ADVICE.
Logo

Blog

01

Nov 2010

Summary of the BC Home Buying Process

by Iain in Vancouver Mortgage Blog

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…

Read More   

01

Nov 2010

Tax Benefits For BC Home Buyers

by Iain in Vancouver Mortgage Blog

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…

Read More   

01

Nov 2010

BC Home Buyers Plan

by Iain in Vancouver Mortgage Blog

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…

Read More   

01

Nov 2010

Mortgage Types in BC

by Iain in Vancouver Mortgage Blog

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…

Read More   

14

Oct 2010

Mortgage Terminology For BC Home Buyers

by Iain in Vancouver Mortgage Blog

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:…

Read More   

24

Sep 2010

Smart Variable Rate Strategy

by Iain in Vancouver Mortgage Blog

From www.canadianmortgagetrends.ca: "The odds are fair that prime rate is heading 25 basis points higher in one of the next two Bank of Canada meetings. (See this Reuters’ poll) After that increase, many analysts foresee a pause of at least six months before rates resume higher. Rates are then expected to climb modestly until prime rate gets closer to its 4.65% ten-year average. This scenario has some people thinking…

Read More   

13

Sep 2010

Hidden Fees/Closing Costs

by Iain in Vancouver Mortgage Blog

When you are considering buying a house, you will need to have additional funds set aside for closing costs. These costs can add up to a substantial amount. The following is a list of the most common costs in British Columbia, with an indication of prices. APPLIANCES $0 to $ thousands APPRAISAL $150 - $250 BUILDING INSPECTION $300 GST (Goods & Services Tax) $0 to…

Read More   

01

Sep 2010

Best rates in BC- September 1st 2010

by Iain in Vancouver Mortgage Blog

I am always actively looking at our competition, and we can usually beat the rates available in British Columbia.  The reason this is possible is because TMG does so much volume that the lenders offer us exclusive discounts.  Right now, our best 5 year fixed rate is 3.65% and it looks like it could go down even more.

Read More   

Page 7 of 8 1 5 6 7 8