Mortgage Penalties – Fixed Rate Closed Mortgages
Mortgage Penalties for Fixed Rate Closed Mortgages Mortgage penalties explained for fixed rate closed mortgages. Three (3) months of interest or Interest Rate Differential (IRD), whichever is greater. I covered mortgage penalties for variable rate closed mortgages in a previous post. For further information on mortgage penalties and or to discuss all of your options, [...]
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 [...]
Vancouver BC mortgage rates super low. Lots of options. What to choose?
Vancouver BC mortgage rates super low. Lots of options. What to choose? Mortgage rates continue to remain at historic lows and all terms and products can appear extremely attractive. So how does one know which product is best suited to them, their situation, as well as their future plans? Below are some examples of rationale [...]
How to save on your mortgage? A few ways to trick yourself.
How to save on your mortgage? A few ways to trick yourself. With the myriad of mortgage products (terms, rates, fixed vs. variable, etc.) available, each with their place and application, I have noticed a few ways that one can “trick” themselves into saving on their mortgage and ultimately pay off their mortgage sooner. I [...]
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 [...]