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Author Archives: Pauline Tonkin

Tips for your variable rate mortgage that could save you thousands

With changes to mortgage rules and interest rates on the rise here are some tips for your variable rate mortgage that could save you thousands. Since 2009 the prime lending rate has shifted from a high of 6% down to 2% range remaining fairly level for the past few years before rising to a presentRead More

What you need to know before you renew your mortgage

What you need to know before you renew your mortgage could save you thousands of dollars.  Is your mortgage on your home or other properties maturing in 2018? Typically you will receive your mortgage renewal notice from your current lender 3-4 months in advance of the renewal date.  Sometimes you may receive an offer forRead More

Yes You Can

This story is from the Fall edition of Our House Magazine Moving on up from condo to house, these young homeowners prove age is just a number For Jordan Rothwell and Karissa Roed, the timing to find their forever home couldn’t be more perfect. The couple, who recently moved to Mission, B.C., are expecting theirRead More

Misconceptions of a CHIP Mortgage

I recently helped a client who had some common misconceptions of a CHIP Mortgage.  Christine owned her home with a small line of credit she secured 5 years earlier.  She is 70 years of age with some pension income.  Christine was concerned about the balance on the line of credit and with the higher costRead More

More Changes to Mortgage Rules

They say two things are certain, death and taxes; in Canada there is a third certainty that there will be more changes to mortgage rules.  These changes will impact all home buyers and owners who need to finance their properties.  To understand financing options for conventional borrowers – ask your Mortgage Broker. In October 2016Read More

Planning Ahead for Retirement

Whether you started your retirement savings in your 20′s or in your 40′s,  planning ahead for retirement is key.  There are various elements to consider especially once you approach the last 10 years before retirement.  Always consult with your trusted advisors along the way.  Your financial planner, accountant, lawyer and mortgage broker can help buildRead More

How Did The Change to Mortgage Rules Impact Interest Rates?

In the Fall of 2016 the Federal Government made some significant changes to mortgage financing guidelines but how did the change to the mortgage rules impact interest rates?  I receive calls from people each week after checking rates with their bank and online wondering why the rates are so different.  In fact people wonder whyRead More

Is the BC Home Partnership Program Right for You?

The BC Home Partnership Program was created for first time home buyers who have good credit and good income but do not meet the requirements for a minimum 5 percent down payment.  With at least 2.5% down payment the BC Home Partnership Program will allow you to purchase your home sooner than waiting to saveRead More

BC Home Partnership Program

On Dec 15,2016 the BC Government announced the launch of the BC Home Owner Mortgage and Equity Partnership (BC HOME Partnership Program).  The program assists eligible residents of British Columbia with a repayable loan up to a maximum five per cent of the purchase price of their first home. The BC HOME Partnership program isRead More

Deferring Property Taxes

Most home owners will receive their BC Assessment in the mail the first week of January.  For the 2017 assessment many homeowners will see an increase in the value which will impact property taxes.  For some, deferring property taxes may be an option. Once you receive your property tax notice, you may be able to applyRead More

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