How Does A Change in Mortgage Rates Affect You?

The year of 2015 started out with a frenzy as the Bank of Canada surprised many with a reduction in the overnight lending rate last month.  So how does a change in mortgage rates affect you?  Well, that depends on who you are and what stage you are in your life. If you are raising […]

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Make the most of your variable mortgage

Any changes to your variable rate mortgage will happen only if the Bank of Canada chooses to change the overnight lending rate which in turn prompts the lenders to reset their prime lending rate (and variable rate mortgages and lines of credit). So it is important to make the most of your variable mortgage. The […]

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Financial Check Up

Happy New Year— I wish you all the best in your health, relationships and in business.  As we move into the second week of the year we really have to get going on those goals we set for our self and one I would suggest is your financial/mortgage check up for the new year! I […]

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Property Assessment

It is that time of year when you have likely received your property assessment in the mail.  I am often asked how the property assessment is calculated as people wonder why the value is less than what they think they could sell their home for. The BC Assessors view properties each year in July.  They […]

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First Time Home Buyers Plan

As a first time home buyer in Canada you have the opportunity to buy your first home using your registered retirement savings plan (RRSP)  under the first time home buyers plan.  There are some very specific guidelines for this program that first time home buyers should be clear about before buying a home. The first […]

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Helping Your Children Buy Their First Home

With the high cost of buying real estate in the lower mainland of BC what is the best approach in helping your children buy their first home.  One of the first questions may be “Should I help my kids buy their first home?” A recent article in the Financial Post looks at how you may […]

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How to get best rates before your closing date

When talking to your mortgage broker ask about how to get best rates before your closing date. Each lender policy may differ and it is important to know what you can expect so you don’t get caught short. When you are approved for your mortgage at a specific rate if the rates drop before your […]

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Your Financial Future as a Post Secondary Student

So you’ve graduated from high school and off to university or college.  Before you start, take the time to set down some goals and a budget for your financial future as a post secondary student. Your parents have probably been telling you to put aside some money from your part time job into savings.  However, […]

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How compound interest can work for you.

I remember the first time I learned about how compound interest can work for you.  I was introduced by a friend to someone in the financial services industry and he explained a simple technique to easily calculate how compound interest can work for you – the Rule of 72.  I was so excited and started […]

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Getting strict on documentation

With an increase in fraud, lending institutions are getting strict on documentation for mortgage approval. As part of the mortgage approval process your mortgage broker will ask for documents to show proof of your income, down payment and possibly other items such as proof of permanent residency and other identification.  Since most of that paperwork […]

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