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Pre-Approval limited further still

Pre-Approval limited further still

Pre-Approval limited further still with one lender via total elimination. On Friday August 1st we received notice from a major lender stating that they would no longer be processing Pre Approvals even as simple rate-holds. On June 7th I wrote a brief note about a...
Stagnation in the 1M-2M market

Stagnation in the 1M-2M market

Stagnation in the 1M-2M market. This post may not be relevant to a number of folks, but for those in a position to be shopping for a home in the $1M-$2M bracket there are some truly fantastic opportunities and the following explains a little bit about why this is. Not...
Interest Rates on the Move – what it really means to you.

Interest Rates on the Move – what it really means to you.

Interest Rates on the Move! We always get a barrage of news reports when rates head up by the slightest amount.  Not quite as many Headlines as rates move downward, at least not until politicians start squawking that we are getting ‘too good of a deal’…whatever that...
Five Year Fixed interest rates on the move – Everybody be Cool!

Five Year Fixed interest rates on the move – Everybody be Cool!

Good morning, A few quick comments on the recent movement of five-year fixed interest rates. (Heading towards 3.19% currently) If you’re in a variable rate mortgage you are not directly affected by what is happening currently.  Variable rate mortgages follow the...
2013 Ride to Conquer Cancer

2013 Ride to Conquer Cancer

Hi there, First off let me offer a sincere thank you to all of those whose support contributed to an amazing fundraising total of over $10,000,000.00 for the 2013 Ride to Conquer cancer.  ...

Pre Approval review is limited even further.

Pre Approval review is limited even further. One of the last major lenders that actually properly underwrote pre-approvals (to a reasonable degree) suspends the process as of today; DISTRIBUTION: All Brokers SUBJECT: FYI Pre-Approvals DATE: June 7th, 2013 SUMMARY:...

Clarity – Mortgage financing for purchase transactions.

This post will be of interest primarily to the First Time Home Buyer & newer Realtors.  Most Realtors will request that clients be pre-approved for financing before showing them properties, let alone writing offers. This is absolutely a realistic stance for a...

Dialing in your Down Payment & Pre Payment thoughts.

Some thoughts regarding Down Payment & Pre-Payment or Lump Sum payments; Down Payment Amount The first consideration; if one is able to achieve a 20% down payment this will avoid mortgage insurance premiums (CMHC, Genworth & Canada Guarantee).  Thus 20% down...
Equity Lending – does it still exist?

Equity Lending – does it still exist?

Equity Lending -does it still exist? Short Answer; Yes, but in a very limited fashion at Prime rates. Long Answer; read on… It seems that each week I take at least one mortgage application from clients whose criteria goes something like this; Stellar credit a...

Our vanishing RRSP & Vancouver Real Estate

Our vanishing RRSP In the Spring of 2012 after a 15 year roller coaster ride in the Stock Market (huge gains & sharp drops) with a net gain of less than 2% on the total contributions made, it was decision time.  My wife and I decided to take a harder look at our...