In the News: 15% Property Transfer (bonus) Tax for Foreign Buyers in B.C. Short Version “Good intentions can often lead to unintended consequences” – Tim Walberg As Canadians we no longer appear to be a people that keeps our word. Review the official policy here. Long Version The BC government is increasing the PTT by a 15% […]

Sometimes we forget what great tools we have from our Private Mortgage Lenders. 1. Construction mortgages for the smaller home builder, loans based on each property or blanket several and payout the mortgages as they sell. 2. Are you a builder already and have standing inventory that you’d like to take some money out of […]

Pre-approvals are certainly beneficial. However, they can also be very disappointing if you are not prepared to know what they actually mean. They DON’T mean… They don’t mean that you have a mortgage.Until there is a Purchase Agreement (a written up contract to purchase a property) actually submitted to a bank and a commitment from […]

So you’ve graduated from high school and off to university or college. Before you start, take the time to set down some goals and a budget for your financial future as a post secondary student. Your parents have probably been telling you to put aside some money from your part time job into savings. However, […]

In today’s market, variable and fixed rates are not too far apart. This makes most people think that the fixed rate is the way to go as it’s often viewed as the safest option. Many believe that variable rate mortgages are for the daring and at any time your rate could double leaving you high […]

When I meet with my clients, I explain that I believe my role is to get them the mortgage that fits their goals and plans, while saving them the most amount of money over the lifetime of their mortgage. This takes into consideration what you might be offered at renewal time by the lender or […]

The level of documentation required for the average mortgage these days can be very frustrating. It can seem endless, very nitpicky and annoying because we are able to purchase a vehicle with just a paystub. There are a few reasons for the increased documentation requirements. The first is that the banks are mandated by the Anti-terrorism […]

1. Cash back at closing, while not illegal they lender will usually reduce the mortgage by that amount. 2. Furniture included in the contract, lenders consider this to have a value and if it is zero then it needs to state that in writing. Better yet have the seller and buyer write it in a […]

Chances are, you’ve seen real estate listings that end with terms like, “as-is, where-is” or “court ordered sale” or even “offers subject to court approval” and wondered if the listing prices were real. Or even wondered if you should be looking at foreclosed properties in order to make or save a buck. My advice to […]

Aside from paying a regular monthly mortgage payment there are other choices you’ll be presented with when approved for a mortgage. This article will explain the differences and benefits of changing your payment schedule. The goal is to pay down your mortgage as quickly as possible and save on interest. The longer it takes to […]