Insured Buyers are the Majority – Ask a Vancouver Mortgage Broker

Mortgage insurance is typically mandatory for homebuyers without 20% equity. Putting down 10% on theaverage $350,152 home, for example, means you’ll cough up a $6,302 insurance premium (given fully documented income and decent credit). Since insurance premiums are tacked on to your mortgage, that adds up to $9,000+ if you amortize it over 25 years. Of course, you can avoid insurance […]

Brokers fear more compensation cuts – Ask a Vancouver Mortgage Broker

By Nestor Arellano    Mortgage professionals are worried First National‘s compensation cut will see other lenders follow suit or — what’s even more sinister — adjust their interest rates to force broker buydowns. “First National’s decision was troubling because many brokers fear other lenders would follow suit,” said Sudip Adhikari, a broker with Centum in Toronto. […]

More than 60% of Home Buyers Need Mortgage Insurance

More than 60% of Home Buyers Need Mortgage Insurance   With the new federal regs coming into play in the near future, what does this mean for your Vancouver Mortgage Broker? Will new home buyers get squeezed out, or are they going to have to pay through the nose to own a home? How will […]

Should Mortgage Financing be Privatized? – Ask a Vancouver Mortgage Broker

Should Mortgage Financing be Privatized?   You can bet that question just got the attention of anyVancouvermortgage broker who happens to be checking out this site.   Nonetheless, it’s a debate that’s being kicked around out there and maybe one you might want to have a closer look at. You’re probably asking why anyone would […]

Is it time to regulate road reps? – Ask a Vancouver Mortgage Broker

Should bank road reps come under industry regulation? This is the question some brokers are asking as the heated debate onroad reps appropriating the mortgage broker title continues to a simmer. “I think this is the perfect time to look into having road reps licensed and regulated,” said Brian Lambert, broker with Real Mortgage Associates in Barrie, Ont. […]

What if mortgages were more expensive and less accessible? – Ask a Vancouver Mortgage Broker

If you’re a first-time home buyer, odds are that you don’t have a 20-per-cent down payment. Without one, you typically need mortgage default insurance to buy a home. The biggest provider of that insurance is government-owned Canada Mortgage and Housing Corp. (CMHC). Since the credit crisis four years ago, its mortgage role has been hotly debated. On […]

RBC’s Step Forward – Ask a Vancouver Mortgage Broker

RBC‘s Step Forward Do you know what largely determines your mortgage rate? It’s the cost to your lender of raising capital in the first place. This is what makes recent activity on the part of RBC so noteworthy. RBC used covered bonds to raise $2.5 billion on September 12th of this year. Some of this […]

How a Vancouver Mortgage Broker Can Help You

How a Vancouver Mortgage Broker Can Help You By Brennan ValenzuelaRatehub.ca Buying a house and getting a mortgage can be an overwhelming experience. The process involves hours of research and education before you make the largest financial commitment of your life. Did you know that using a mortgage broker can save you two of your […]

Covered Bonds Explained – Ask a Vancouver Mortgage Broker

Covered Bonds Explained Chances are, unless you work in something related to finance or the housing industry, you’ve probably never heard of “covered bonds”. Though I’m sure you’d be happy to hear that they indirectly help provide homeowners (including yourself) with low mortgage rates. They also help give mortgage borrowers additional options. We will delve […]

Mortgages and loans – harder for the self-employed?

NANCY CARR Special to The Globe and Mai Published Monday, Oct. 01 2012, 12:10 PM EDT As a self-employed website developer who had recently restructured his business, Greg Schmidt knew that refinancing his mortgage wasn’t going to be a piece of cake. “I had a little bit of a line of credit built up from shifting the […]

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