According to the Ministry of Advanced Education and Labour Market Development there are over $150,000 temporary residents in BC in any given year—that’s more than double from 2005 to 2009. This includes international students and humanitarian cases but approximately 50% of those temporary residents in BC are employed with a work permit.  In many instances these […]

Did you know you can get a mortgage for renovating your home?  Many home buyers and existing home owners are deciding to get more bang for their buck by purchasing a home that needs some improvements.  Whether you are renovating at the time you buy or waiting for a few years there are financing options […]

With a competitive spring market in full force banks and credit unions are offering rates for their mortgage with free legal fees.  Before you sign on what seems to be a great offer take a look at the numbers and see what a mortgage with free legal fees is really costing you. This is one […]

There are a growing number of families living in Vancouver or moving to the region who are choosing the option of buying a second home in the lower mainland or in one of the many great locations throughout British Columbia. When it comes to mortgage financing there are many lender programs available at best rates.  […]

As part of the shift from the HST back to the GST program the government has created a BC transition tax. If you are planning on buying a new home over the next two years, then you need to know about the 2% BC Transition Tax. The new tax came into effect on April 1, […]

With the drop in mortgage rates some people are calling their banks to see what options they have to take advantage of the lower rates and save money on their existing mortgage.  You will be offered the opportunity of blending your mortgage rate with no penalty.  Or you can pay the penalty and do a […]

When you are looking to buy a home or refinance your existing home,  lenders will consider your credit report and how it affects your ability to borrow money.  Along with your income, your down payment or equity and your debt load, lenders will look at your credit score to qualify you for a mortgage. Your […]

As a home buyer there are many thing to consider.  Beyond the down payment there are closing costs for the home buyer that must be factored in to your overall budget.  Your mortgage broker and realtor should review these costs for you so you have a summary of all your costs before you start looking […]

One of the most common things home buyers, especially first-time home buyers, need to consider before buying a home is how much income do you need to qualify for a mortgage.  Some people think they need more income when in fact they don’t.  Others think they earn enough income but if it is commission, self-employed […]

When you are buying your first home or moving from one home to another it is important to know about the down payment for a mortgage.  How much will you need for a down payment to buy your home, where can the down payment for a mortgage come from and the rules from the lender […]