Would shorter amortizations make the housing market safer? – Ask a Vancouver Mortgage Broker

Canada’s banking watchdog seems intent on stamping more risk out of the mortgage market. The latest idea being floated by The Office of the Superintendent of Financial Institutions (OSFI) is to limit amortizations to 25 years for homeowners who have put down 20 per cent of the purchase price or more. The current maximum is 35 years. If this […]

Home Buyers: What should a real estate lawyer do for you? – Ask a Vancouver Mortgage Broker

When graphic and web designer Andy Stanleigh bought a house in Oakville, Ont. last summer, he learned the value of having a real estate lawyer on call. A few days before closing, Mr. Stanleigh and his wife received a surprise letter from the vendor’s lawyer, saying that they needed to immediately pay nearly $1,100 in […]

Flaherty dismisses fears over housing slowdown – Consult with a Vancouver Mortgage Broker

Decreasing demand, construction a ‘healthy’ development, finance minister says The Canadian Press  Finance Minister Jim Flaherty is dismissing fears about Canada’s housing market, saying the current slowdown is welcome news and that there is no need for further government intervention. While some observers are expressing fears that a steep correction is underway that will bring […]

Early exit from closed mortgage can cost you dearly – Consult with a Vancouver Mortgage Broker

Early exit from closed mortgage can cost you dearly If you sign a mortgage deal for five years, you should ask how much you’ll pay if you leave early. The penalties can be shocking By: Ellen Roseman On Your Side, Published on Tue May 07 2013 When you buy a house and sign up for a fixed-rate mortgage, […]

Majority (60%) of Canadian Homeowners Admit to Mistake Making When Buying a Home; Renovations (15%), Small Down Payments (14%), and No Home Inspection (13%) Among Top Concerns

Majority (60%) of Canadian Homeowners Admit to Mistake Making When Buying a Home; Renovations (15%), Small Down Payments (14%), and No Home Inspection (13%) Among Top Concerns Affordability (46%) and Saving for Large Down Payment (32%) Top Reasons for Not Buying Until Now for First-Time Buyers Toronto, ON – When it comes to the purchase of […]

So-called “Best Rate sites” are put to the test with shocking results.- Ask a Vancouver Mortgage Broker

by Steve Garganis There’s been a surge of ‘Best Rate’ sites popping up… Chances are, you’ve probably seen one or more of their online ads…   You know the ones…‘shopping’ for the Best mortgage rates in Canada’ and ‘comparing Canada’s mortgage brokers for the best rate”.   It does sound great… and it seems to be getting lots […]

Stuck in traffic: How mortgages could ease congestion- Consult with a Vancouver Mortgage Broker

When she tours homes in the neighbourhood west of Eglinton and Bathurst, Lindsey Springer knows exactly what she’s looking for; three bedrooms, finished basement and easy access to transit. “Definitely accessiblity to the TTC is really important, my husband takes the TTC to work everyday so that’s really important, she says. The suburbs don’t suit […]

New Rules or Old Rules for Mortgages – From your Friendly Vancouver Mortgage Broker

New Rules or Old Rules for Mortgages – From your Friendly Vancouver Mortgage Broker During the previous four and a half years, the feds have introduced over two dozen changes in both new policies and regs that have had an impact on Vancouver home mortgages. With good intentions in mind, this Vancouver mortgage broker understands […]

Recent Court Decision On Gift Letters- Ask a Vancouver Mortgage Broker

Recent Court Decision On Gift Letters Posted on April 25, 2013  The following was written by Calgary real estate lawyer, William (Bill) Fric, regarding an Alberta Court of Queen’s Bench  judgement from earlier this month. (Citation: Henderson-Jorgensen v Henderson-Jorgensen, 2013 ABQB 213) Gift letters are often required by mortgage companies when parents are helping children buy a home. […]

Shopping for a first mortgage? Arm yourself with research and negotiate and Ask Adil Virani – Vancouver Mortgage Broker

First-time home buyers shopping for a mortgage have all the technology at their fingertips to make informed decisions, and financial experts say those resources should arm them with enough knowledge to prepare themselves, and even negotiate a better rate. “In today’s environment, with so many things on the Internet, social media in general, there’s no […]

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