The Missing Link? The missing link between home ownership and perpetual renting remains supply. Either supply of homes to purchase, or supply of money with which to purchase. The 2019 Budget addresses neither of these supply issues. Instead we are given something...
Property Assessments vs. Market Value Do not rely on your BC assessment for a fair market value of your property. The ‘assessed’ value was determined last July, your local market may have changed since then. Do not rely entirely on a buyer’s opinion or a...
To Lock In or Not? This video applies if you are taking a new mortgage, whether it’s for a purchase, refinance, or renewal. The variable remains the main contender. But what about all the economists saying if you are currently in a variable rate mortgage then...
This week we discuss writing a Subject-Free offer, or perhaps not doing so. Specifically we look at why you may want to cool your jets and have a detailed conversation about your plan with your Mortgage Broker well in advance of writing such an offer. As it turns out...
Many clients ask what they think is the right question when it comes to moving their mortgage to a new property and all too often it leads to an incomplete and sometimes devastating answer. Ask better questions, get better answers. Don’t ask ‘is my...
Why does the Mortgage Broker want so many docs? – we actually don’t. Why does the Mortgage Lender want so many docs? – they actually don’t. Who wants all these docs? Who is it that does not trust what you are saying? That would be...
An age old debate, but why? Click Here for the Video Explaination If you are still wondering about fixed vs. variable – it’s pretty firmly all about the variable, even with the July 11, 2018 Bank of Canada 0.25% rate increase factored in. Click...
Fake(ish) News: ‘Mortgage Rates Went Up Last Week Real News: On April 27th TD increased their ‘posted rate’. What’s a posted rate? It’s the list price, the MSRP — you know that price that nobody actually pays…’rack...
DISCLAIMER: This post is written for buyers, in other words people who do not currently own a tenanted property. This post is not suggesting in any way that the rights of an existing tenant be infringed upon. For sellers reading this post, and perhaps realising...
Short Version: The most important question a home-seller must ask their Broker or their banker this spring: ‘Do I QUALIFY to port my mortgage?’ You must re-qualify to port your mortgage to a new property, and you must re-qualify under stringent new...
