Talking Mortgages with Rebecca Awram

If you’re buying your first home (even if you’re a seasoned homebuyer), mortgages may be a tricky thing to wrap your head around. But they don’t have to be. We approached Mortgage Advisor Rebecca Awram at Origin Mortgages for her insightful advice on financing your home purchase. Keep reading to discover her top five mortgage tips.

Click here to read the full article..

BC first time home buyer loan: Does the program actually help?

Certainly Vancouver is world renowned for its desirable lifestyle. But its reputation has helped drive real estate prices to unreasonable heights, creating an affordability crisis particularly for younger generations.

That is why the B.C. government introduced late last year a loan program to help first-time buyers. Called the B.C. Home Owner Mortgage and Equity (HOME) Partnership, it offers qualified first-time buyers a loan of up to $37,500, interest- and payment-free for the first five years, to assist with a downpayment.

Click here to read the Vancouver Sun article..

BC HOME PARTNERSHIP

Down payment loans from the BC provincial government for first time buyers.

Coming this month, January 2017! Get the information you need, find out next steps and have us answer your questions. We can easily take an application and crunch the numbers to help you come up with a plan!

Click here for more info!

An Economist of Our Own and the Direction of Rates

Rates are definitely a hot topic these days! DLC now has their own economist, and here’s what she has to say about the direction of rates, both in the short term and later this year. I think I’m going to enjoy hearing and posting her updates, as previously we’ve relied on the chief economists of major banks. Now we have our own!

MBABC Video Creation Contest

I am a member of the mbabc: the mortgage broker association of british columbia, which represents the province’s mortgage industry and has a mandate to support and enhance professionalism and ethical standards.

MBABC Global TV Advertisement:

They hold an annual conference and trade show, and this year’s two day event is the 25th silver anniversary. The theme is cinematic, so many of the events taking place have a film/movie/cinema subject/motif. A contest was offered to brokers to: ” Post a picture or video of you reenacting your favorite inspirational movie quote. Don’t forget to use the MB logo in your video.”

I had a few ideas, thinking about famous movie lines…. and once I thought of the James Bond lines, I couldn’t resist doing a play on words with ‘bond’, which is an important piece of terminology in our industry. Five year fixed mortgage rates are based on the five year bond market and yields, and any discussion of 5 yr rates and their movement inevitably must involve a discussion of 5 yr bonds.

So here is my creation…… with quite a bit of technical assistance from my son.

Referral Appreciation Contest Grand Prize Winner Announced!

Referral Contest PostcardA big congratulations to realtor Marshell Forster with Coldwell Banker Tri-Tel Realty in Maple Ridge, for winning the referral contest, a TRIP FOR TWO TO HAWAII!!! Not surprising, as she had multiple entries, so of course I am glad to see such a strong referral partner take the win. That said, it only takes one entry to win! Chances of winning were one in 88 in this contest. Not bad odds at all…. so keep that in mind when we announce the next contest!

How much mortgage should you and your spouse carry?

DLC Origin Mortgages’ Rebecca Awram was quoted in a story in the Globe and Mail.

HOME OWNERSHIP STRATEGIES
How much mortgage should you and your spouse carry?

Let’s imagine a nice Canadian couple, Karen and Steven.

Their credit rating is good, their jobs steady, household income secure. They’re prime meat for banks hungry to sign them up for a new mortgage.

But when buying a home, how should Karen and Steven determine how much to borrow? How much house should they buy? We asked mortgage brokers for some advice.

Read more

Should you co-sign for your kids?

Should you co-sign for your kids? | MoneySense

Before you put your John Hancock on that mortgage form, make sure you truly understand your child’s financial situation.

If you’re a parent of a young adult whose home ownership dreams have been dashed, there is a way to help. In June, the maximum amortization period for insured mortgages was reduced from 30 to 25 years, making it even more difficult to manage monthly payments. But having a parent co-sign on the dotted line allows adult children with lower salaries to get into the housing market. It’s a trend that mortgage broker Scott Dawson expects to increase in response to the new rules. But is it a good idea?

How Home Ownership Can Boost Your Retirement Savings | Financial Post

Your money grows tax free . . . Even in your RRSP, there are forced withdrawals and it’s fully taxable [when taken out]

via business.financialpost.com

Doors Shutting on First Time Homebuyers

The Toronto and Vancouver housing markets have cooled rapidly in the wake of Ottawa’s latest bid to stop a bubble, with many first-time buyers knocked out of the running.

via theglobeandmail.com




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