Basement Suites & Mortgage helpers – What you need to know
Unauthorized basement Suites & Mortgage helpers – What you need to know In Vancouver it is quite common to find homes that have been adapted to have a self contained unit, usually on the lower half of the home, which can be rented out for additional income. The portion of the home that is rented [...]
Mortgage Changes Part 2 – Rental properties and Rental income
New mortgage rules for investment properties and rental income. By or before April 19, 2010, there will be changes to how non-owner occupied properties (i.e. rental and investment properties) are handled with respect to mortgage insurance (e.g CMHC, Genworth, AIG). These changes will affect people who are looking to both purchase a non-owner occupied property [...]
Changes To Mortgage Qualification – New Rules
New Rules for Mortgage Qualification Announced today, effective April 19, 2010, or sooner, there will be three (3) new rules that will apply to the qualification for government backed, insured mortgages (i.e. CMHC, high ratio insured mortgages). The changes are: Minimum down payment for non-owner occupied properties will be increased to 20% of the purchase [...]
Fixed mortgage rates in Vancouver BC going up?
Fixed mortgage rates in Vancouver BC going up? This is a warning/notice! (not that dramatic but please read and ask me any questions you have or are thinking of. If you just want to chat about your mortgage, that is fine too, I would love to hear from you) Confirmed that fixed mortgage rates are [...]
What is my mortgage penalty?
What is my mortgage penalty? With where interest rates are and have been for the past few months, there has been growing interest, no pun intended, around if people who are currently in a mortgage should pay their penalty, break their term, and try to get a lower fixed rate for their mortgage. Many people [...]