A pre-qualification is the first step in uncovering what you can afford when embarking on the search for your next property.  It should outline a realistic budget, including the costs to complete the purchase, including legal fees and applicable taxes, as well as estimated ongoing mortgage payments. To arrive at an accurate budget and […]

    Property Taxes are typically due in July in BC, and the Home Owner Grant gives owners a break if eligible. The eligible property value limit increased to $1.975 million in 2022.  Homeowners in Metro Vancouver, the Fraser Valley, and the Captial Regional Districts owning property valued at less than that amount may be […]

With the increase in the Overnight Rate of .25%, the Prime Rate has also risen by this amount in Canada.  If you have a Variable Rate mortgage, please feel free to contact me for strategies to discuss the rate outlook, manage a lengthening amortization, or manage your payment.  Static payment variable mortgage holders may be […]

    I once had my eye on a new home to purchase, which had a style that really appealed to me.  The neighbourhood was beautiful and very close to the mountains, which perfectly suited my wish list.  The house looked very well built and I was certain it was the one!  Excited, I was […]

  Expert tips on planning your next backyard project. Turning dreams of lounging in your private backyard oasis into reality has, well, blossomed.  Renovations and master creations of outdoor spaces have taken off in the last few years.  With lumber prices slowly coming down, a new deck or pergola could be yours.  Here are some […]

Twenty-five or thirty years is a long time to repay a loan. To pay off your mortgage faster, here are some tactics to get you on the road to financial freedom that much sooner. 1) Make a Double Mortgage Payment: A double monthly payment once a year will save you interest and will reduce a 25 […]

    When it comes to customizing your mortgage to fit your needs and goals, several aspects can be adjusted. Interest Rate Type The interest rate is a major component of your mortgage and can be fixed or variable. A fixed-rate mortgage is ideal for those who are more comfortable with a stable monthly payment. A variable-rate mortgage is […]

Mortgage insurance protects a lender’s investment in certain types of loans, which typically come with lower rates but an insurance premium is charged.   Without mortgage insurance, borrowers can sometimes qualify for a larger loan, they can lower their monthly payments relative to the borrowed amount, and they can save on the cost of the insurance […]

  Porting your mortgage enables you to move your existing mortgage to another property without having to lose your existing interest rate for the remainder of the existing term. Porting may also save you money on the break fee for not seeing the current mortgage through to the end of the term.  If you can’t […]

The British Columbia Financial Services Authority’s (BCFSA) report on improving consumer protection in the real estate market has brought about a new mandatory three-business-day Homebuyer Rescission Period.  It took effect on Tuesday, Jan. 3, 2023.  It’s aim is to provide buyers with time to consider their purchase and alleviate pressure to make quick decisions around […]