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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 Canadian Mortgage Experts for her insightful advice on financing your home purchase. Keep reading to discover her top five mortgage tips.
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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.
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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!
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!
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.
A big congratulations to realtor Marshell Forster with Coldwell Banker Tri-Tel Realty in Maple Ridge, or 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!
DLC Canadian Mortgage Experts’ Rebecca Awram was quoted in a story in the Globe and Mail.
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.
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?
Your money grows tax free . . . Even in your RRSP, there are forced withdrawals and it’s fully taxable [when taken out]
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.
Economy Snapshot by Rebecca Awram – March, 2021March 11, 2021 - 6:17 pmRATES This week I had a realtor ask me if I would work with her clients, they were eager to meet me, as long as I could match the “xxx%” that their Bank was offering them. Obviously if they were happy with their bank, the service, the strategy, the communication, the turnaround times and the […]
Free Best Rate Quote FormsRebecca Awram, BA
Mortgage Advisor
DLC Canadian Mortgage Experts
17650 66A Ave,
Surrey, BC V6H 3V3
(604) 614-2382
rebeccaawram@gmail.com
http://www.communitylendingcentre.com
http://seniorslendingcentre.com
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