As we grow older, many Canadians find themselves “house rich but cash poor.” For seniors across British Columbia, a reverse mortgage can be a smart way to tap into the equity in their home without having to sell or move. But what is a reverse mortgage, and is it the right choice for you or […]
Why It's Important to Talk to A Mortgage Broker
Property Transfer Tax in BC
How much is the property transfer tax in BC and how can I be exempt from it? First Time Buyers, having never held title to a home anywhere in the world, can be exempt from this tax if you purchase for $500k or less. From $500k – $525k there is a partial exemption. If you […]
It’s All About The Property
When your mortgage application goes through the approval process, they are not only looking at you, but also the property in question. In fact, sometimes when an application is denied it has nothing to do with you, and everything to do with the property. To improve your chances of success when it comes to financing, […]
4 Ways To Make The Process Smoother
Mortgages are complicated—we get it! But there are steps that you as a homebuyer can take to make the process a much smoother one (plus let you walk away with the sharpest rate!) 1. Use a Broker This should be the first step you take when getting a mortgage! Enlisting a trusted broker to work […]
Bona-Fide Sales Only Clauses
Imagine spending hours of your life to: I’ve seen this happen on more than one occasion and it’s not pretty. His lawyer found out he had a “bona-fide sale” clause in his mortgage contract. A bona-fide sale clause is a fancy way of saying that you can’t leave your lender until the term is up, […]