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 as [...]
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 price (currently [...]
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 starting to [...]
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 today [...]
Renew my mortgage. Before you do …
Renew my mortgage. Before you do …
This post is essentially a top 10 list of the things you should do and think about at least 2-3 months before your mortgage renewal date comes up.
If you would like to have peace of mind and confidence that your mortgage will be renewed at the best terms [...]