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Friday, July 22nd, 2016

How badly would you be hurt in a housing market price correction? – Consult with a Vancouver Mortgage Broker

How badly would you be hurt in a housing market price correction? ROB CARRICK– The Globe and Mail A question for everyone who thinks houses are an investment: How much would a market decline hurt you? Help yourself be a smarter homeowner by using The Globe and Mail’s Housing Price Correction Calculator to find out. Housing bulls, don’t […]

CUs: A Lower Bar on Qualification Rates – Ask a Vancouver Mortgage Broker

Starting in 2010, lenders had to ensure that borrowers getting variable or 1- to 4-year fixed mortgages could afford payments at the 5-year posted rate. That rule applied to mortgages with less than 20% equity. In 2012, OSFI asked federally regulated lenders to apply the same rule to all variable and 1- to 4-year fixed mortgages, regardless […]

The Ultimate Mortgage Checklist – Ask Adil Virani, Vancouver Mortgage Broker

Have you ever had a sick feeling in your stomach after buying a car, or a big screen TV, or a boat, or expensive jewelry? It’s that nagging worry that you’ve bought the wrong model or spent more than you should have. Buyer’s remorse is common with big ticket purchases, but it’s not as common […]

Laurentian Closes Mobile Rep Operation – Ask a Vancouver Mortgage Broker

Laurentian Closes Mobile Rep Operation Some banks, like CIBC, have been on a hiring spree when it comes to mortgage reps. Not Laurentian Bank. It’s going the other way. “We have announced [Wednesday] that Laurentian Bank had decided to no longer offer residential mortgage loans through an internal team of mobile advisors,” said a spokesperson. […]

Fighting Mortgage Fraud – Consult with a Vancouver Mortgage Broker

Fighting Mortgage Fraud Special to CMT, By Karen Beattie, NEXSYS Financial  Mortgage fraud in Canada has increased by a staggering 50% in recent years, according to Equifax. While accounting for only 13% of attempted frauds in 2011, mortgage fraud was responsible for two-thirds, or $400 million, of the estimated dollar amount of financial fraud in Canada. […]

Half Baked Mortgage News – Consult with a Vancouver Mortgage Broker

From the “can’t believe everything you read” file comes this shocker from the Huffington Post: Mortgage Debt Exploded In Past 4 Years An unnamed Huffington Post author claims that mortgage debt at chartered banks soared 56% ($301.4 billion) in just one year—from June 2011 to June 2012. It’s a “risky explosion” in mortgage debt says […]

Bridge financing can ease closing day stress – Consult with a Vancouver Mortgage Broker

Bridge financing could have saved the day last month when a series of disasters on closing day caused three related real estate deals to fall apart. Published on Fri Aug 16 2013 Bridge financing could have saved the day last month when a series of disasters on closing day caused three related real estate deals […]

How to reduce mortgage penalties – Ask a Vancouver Mortgage Broker

How to reduce mortgage penalties Backing out of a mortgage early? You probably won’t be able to avoid fees entirely, but you can limit them. A rise in interest rates appears imminent, so folks with big mortgages might want to lock in the current low rates now! But for some, that means getting out of an […]

Top 6 real estate scams – and how to avoid them – Consult with a Vancouver Mortgage Broker

CHRISTOPHER MYRICK The following article is from Canadian Real Estate Wealth Magazine. Fraud and investment scams abound at all levels of the real estate market – whether it be a contractor who charges hundreds of dollars for work not done to an “investment agent” who embezzles hundreds of millions – protecting yourself can require a measure […]

Get a mortgage without a salary – Consult with a Vancouver Mortgage Broker

There are things that you can do to help you qualify for a mortgage. Landing a mortgage is trickier for the self-employed than their salaried counterparts. Not only do self-employed people face higher interest rates and CMHC mortgage insurance premiums, they are also more likely to have their loan applications rejected outright. If you’re self-employed, […]

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