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Saturday, September 23rd, 2023


IS THE BC HOME PARTNERSHIP PROGRAM RIGHT FOR YOU? BC HOMEThe BC HOME Partnership Program was created for first time home buyers who have good credit and good income but do not meet the requirements for a minimum 5 percent down payment. With at least 2.5% down payment the BC Home Partnership Program will allow […]

How ‘affordable housing’ became an oxymoron – Consult with a Vancouver Mortgage Broker

ROB CARRICK– The Globe and Mail–  Housing affordability in Canada is as alive as the chances of the Toronto Blue Jays making the baseball playoffs and the appeal of eating a Cronut burger. Housing was just barely affordable before mortgage rates started climbing earlier this summer. Now, with the popular five-year fixed rate up roughly two-thirds […]

Can you handle higher interest rates? – Consult with a Vancouver Mortgage Broker

Garry Marr  | @DustyWallet It may be stressful to think about it but higher mortgage rates are on the horizon. The questions for homeowners is whether they can handle a hike in interest rates. Bank of Montreal says consumers should stress test their mortgages a couple of ways, considering higher interest rates and a shorter amortization period. […]

First-time home buyers undeterred by mortgage rules, rates – Ask a Vancouver Mortgage Broker

Garry Marr |More from Garry Marr | @DustyWallet About two-thirds of first-time buyers say they’ll purchase a home as planned and are unaffected by new mortgage rules brought in by Ottawa a year ago, says a new survey. The findings come as the banks continue to increase long-term interest rates in the face of rising bond yields but […]

BMO Home Buying Report: First-Time Buyers Expect to Spend $300,000 on First Home with an Average Down Payment of $48,000

– On average, first-time buyers expect it will take them 20 years to pay off their mortgage – Report shows first-timers prefer a fixed rate to a variable rate mortgage by more than a 2:1 ratio – Report reveals how recent changes to Canadian mortgage rules have affected the timeline to buy for first-time buyer […]

Tips and tricks to help first-time home buyers – Ask A Vancouver Mortgage Broker

By Kyle Green, Special To The Sun March 15, 2013 Read more: Did you know that two out of three Canadian families own a house? That is one of the highest rates of home ownership in the world. And for good reason . Real estate is a great investment. And with increasing housing prices, it’s all […]

What first-time buyers really need: affordable housing prices – Ask a Vancouver Mortgage Broker

What first-time buyers really need: affordable housing prices DIANNE NICE The Globe and Mail  While mortgage brokers are pressing the federal government to bring back 30-year mortgages and give first-time buyers a bigger tax break, Globe and Mail readers are not convinced that easing mortgage rules is the answer to the problem. When the Globe and Mail […]

Canadians can still buy a house without saving their pennies – Ask a Vancouver Mortgage Broker

It would seem that regulators want to dissuade Canadians from buying homes with nothing down. Yet despite all of the recent changes, buyers can still get into the real estate market with little cash on hand. Ottawa did away with Canada Mortgage and Housing Corp .-insured 100 per cent financing back in 2008. Home buyers with few […]

Insured Buyers are the Majority – Ask a Vancouver Mortgage Broker

October 15, 2012 by  
Filed under Latest News, Latest Rates, Mortgage FAQ, Recent News

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 […]

What Impact will the New Mortgage Regulations Have? – Ask a Vancouver Mortgage Broker

What Impact will the New Mortgage Regulations Have? Industry insiders (including your trusted mortgage broker in Vancouver) are clamouring to determine the effects of the new mortgage regulations on the value of residential real estate. Is this something we should be seriously concerned about? Or are the effects just another overhyped fear, set to blow […]

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