Mortgage Blog
Your Choice for everything Mortgage in Vernon B.C.
Category: Mortgage Minutes (44 posts)
Multi-Family Lending: What You Need To Know About Hard Money Loans in Vernon, BC
March 1, 2021
Multi-Family Lending: What You Need To Know About Hard Money Loans Multi-family real estate is one of the most popular investments for both newbie and seasoned investors. Buyers in the past used trad ...
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Why Borrowers May Choose a Private Mortgage in Vernon, BC
February 17, 2021
Why Borrowers May Choose a Private Mortgage When most people want to buy a home, they get a list of local banks and mortgage companies to start comparing the available financing options. However, the ...
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How to Handle a Mortgage After a Separation or Divorce in Vernon, BC
February 2, 2021
Mortgage Life After Separation and Divorce Separation and divorce present many challenges. It's a situation you likely never thought you'd never be in, but now there are personal and financial conseq ...
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3 Tips on How to Better Your Credit Score in Vernon, BC
November 24, 2020
Having a good credit score is of paramount essence as it affects your ability to access loans and borrow money. Your credit score rating influences the amount of mortgage you qualify for. You may ...
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Bank of Canada will maintain current level of policy rate until inflation objective is achieved, recalibrates its quantitative easing program
October 28, 2020
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. ...
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Mortgage Q and A: What do I need to bring to the Lawyers office for my new mortgage appointment?
October 7, 2020
Question: What do I need to bring to the Lawyers office for my new mortgage appointment? Answer: You will need to ensure you have 2 pieces of valid identification with you. One with picture such ...
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Mortgage Q and A: I recently purchased a house and the Lender wanted to see the 2020 Property tax notice, why is this necessary
October 7, 2020
Question: I recently purchased a house and the Lender wanted to see the 2020 Property tax notice, why is this necessary? Answer: When you are buying a home and applying for Mortgage Financing, t ...
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Reverse Mortgages – Impact on Heirs in Vernon, BC
September 2, 2020
How do Reverse Mortgages Affect Canadian Heirs? For Canadian seniors, there is a great way to get the most out of the equity in their homes. Home prices tend to rise, and equity builds in the prope ...
read moreBank of Canada maintains target for the overnight rate, scales back some market operations as financial conditions improve
June 3, 2020
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is &frac1 ...
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Bank of Canada lowers overnight rate target to 0.25 percent
March 27, 2020
The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. T ...
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Should You Pay Off Your Mortgage Early in Vernon, BC?
February 18, 2020
It's a dream to be able to pay off your mortgage early, but is there a downside? While it sounds like a great idea, there are some factors to consider before doing so. This article will ex ...
read moreHow to Improve Your Chances of Being Approved for a Mortgage in Vernon, BC
December 19, 2018
For most first time home buyers, obtaining a mortgage is a crucial part of the purchasing process. However, being approved for a mortgage is often easier said than done. It can be disheartening to f ...
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The Pros And Cons Of Reverse Mortgages in Vernon, BC
November 21, 2018
No matter how carefully you plan, life can put a dent in your retirement funds. A life-altering accident or illness can turn your life upside down. Dipping into your retirement to meet uncovered expen ...
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Should You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else in Vernon, BC?
September 19, 2018
When getting a home mortgage, if you can afford higher payments, often the option of a 15-year loan instead of one of 30 years is an option. It can be an enticing idea to know that you'll be fre ...
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Thinking of Buying a Home in Vernon, BC? Ask Yourself These Questions First
March 7, 2018
Many people simply assume that buying a home is always better than renting, but that is not always the case. Owning a home makes sense in certain circumstances, just as renting is a smart move in othe ...
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Looking to Invest in Vernon, BC? Pay Down Your Mortgage Instead
January 17, 2018
With all the gloomy news about pension plans in the press you may be worrying whether you should actually be investing in a pension plan or not. A new wave of thinking suggests possibly not. There may ...
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The Advantages and Disadvantages of Buying a New Home vs an Existing Home in Vernon, BC
January 3, 2018
If you're planning on investing in real estate, then you're going to have two main options: to buy an existing home or buy a new home in Vernon, BC. An existing home is a house that has been lived in ...
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Seven Inexpensive Home Staging Ideas for a Quick Sale for people in Vernon, BC
November 15, 2017
When your Vernon, BC home is on the market, first impressions matter more than ever. If a potential buyer doesn’t like what they see in the first few minutes, that bad start could color the rest ...
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Credit Card Debt vs Mortgage Debt for people in Vernon, BC: Which Should You Pay Off?
November 1, 2017
It's always a good idea to pay down your debt when you have extra cash on hand. However, as you get started, you will probably be faced with several types of debt you can work on, and it's hard to kno ...
read moreFive Reasons Why You Should Have More Than One Bank Account in Vernon, BC
October 4, 2017
In today's tech world, being victimized by hackers can leave you penniless if you have only one bank account. The following five situations demonstrate how a having a backup account can keep you ...
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Preparing to Sell Your Vernon, BC Home? Do This First
September 20, 2017
So you've made the decision to sell your Vernon, BC home. What you do to prepare - from the outside in - will make all the difference in whether prospective buyers choose to take a look. ...
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4 Reasons to Say Yes to Good Credit in Vernon, BC
September 6, 2017
Good credit is a necessity for acquiring many things in life. There are many important reasons for saying 'yes' to credit. Below are some of those reasons, as well as ways to get and build your credit ...
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For Savvy Spenders in Vernon, BC: How to Make the Most of your Credit Cards
July 5, 2017
Savvy Spender: Simple, Smart Ways to Make the Most of Your Credit Cards With their vast array of special perks and member benefits, credit cards are an appealing financing option for modern Vernon, B ...
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Gathering the Money for a Down Payment in Two Years or Less in Vernon, BC
June 7, 2017
Whether you are looking to purchase a home in the next two years or you intend to wait another five, you must find a way to save up enough money to use for a down payment. Without the money to make a ...
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3 Simple Updates to Help Sell Your Vernon, BC Home Fast
May 17, 2017
If you're getting ready to sell your Vernon, BC home, you may be wondering what you can do to help it sell quickly. How can you make your home more appealing without investing a lot of time or money? ...
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Home Buying 101 - Why the Relationship with Your Vernon, BC Broker Should Be a Positive Partnership
May 3, 2017
Whether you are looking for your first home in vernon, BC or moving up to the home of your dreams, having an experienced real estate broker or agent in your corner is a must. Real estate is a very spe ...
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Price Your Vernon BC Home Realistically If You Want It To Sell
February 23, 2017
Setting a price for the Vernon BC home you are selling requires serious thought and research. Homebuyers have choices in today's market, and that means you should not list your home at an unreasonably ...
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What is the Mortgage Stress Test?
February 7, 2017
The Stress test is simply a Mortgage Calculation to ensure that you can afford your Mortgage Payments should Interest Rates start to rise. The Test is using an interest rate thatis much high ...
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What is your Mortgage Rate?
January 11, 2017
When searching for a Mortgage Product we will ask you more detailed questions about your situation, as not all Borrowers will fit into one Box. There is a difference in many of the mort ...
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How to Use Debt Consolidation Loans Effectively and Safely in Vernon, B.C.
January 6, 2017
Visit almost any financial site on the web, or watch nearly any daytime TV channel, and you're likely to see advertisements promising that a consolidation loan can solve all your debt problems. There' ...
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4 Steps to get out of credit card debt in Vernon, BC
July 12, 2016
Being in debt in Vernon, BC is undoubtedly stressful, more so when the interest rates keep pushing your overall debt to skyrocketing amounts. Many people fall into the temptations of unnecessary expen ...
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Changing your Financial Habits in Vernon, B.C.
May 4, 2016
Some financial habits are good, but others can hold you back and prevent you from saving. If you need to change your financial habits, it is important to take a step-by-step approach. This three-step ...
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6 Smart Ways to Improve Your Credit Score in Vernon, B.C.
April 6, 2016
Whether you want to buy a house in Vernon, B.C., or just get a better rate on your credit card, your credit score will play a big role in how well you do and how much you have to pay. If you ...
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Retiring in Vernon, B.C.? Steps to Take Now to Prepare
February 11, 2016
Some adults begin planning and saving for retirement immediately after graduating college and entering the workforce. Others delay retirement planning, believing that they have several decades to save ...
read moreMake Money When You Buy in Vernon, B.C.
January 21, 2016
Every intelligent real estate investor understands the basic principle of making money when you buy. It’s extremely important to learn and understand this concept for your business because it ca ...
read moreGreat Tips To Pay Off Your Vernon, B.C. Mortgage Early
January 11, 2016
Are you looking for ways to speed up paying off your mortgage? Most mortgages are taken out for 15- to 30-year periods. However, this shouldn't stop you from paying off your mortgage early if you come ...
read moreStrategies to Dig Yourself Out of the Debt Hole in Vernon B.C.
December 28, 2015
Debt. It's something almost everyone will have at some point in their life. But what happens when your debt begins to get the better of you? What options are available? Some si ...
read moreShould You Spend the Full Mortgage Amount You're Approved For in Vernon, BC?
August 24, 2015
Before you start shopping for a new home in Vernon, BC, you'll need to know exactly how much house you can afford. Otherwise, you could end up in a home that is way out of your budget. What you qualif ...
read moreGetting a Home Equity Line of Credit in Vernon, B.C.
August 5, 2015
A home equity line of credit (HELOC) allows you to use your home equity as collateral to secure a revolving credit line for major purchases, such as: . Home renovations . &nb ...
read moreApplying for a Mortgage in Vernon, B.C.: How Much Can You Afford?
July 20, 2015
Before shopping for a new home, your first step should be figuring out how much house you can afford. Home affordability is calculated on the total household income, the personal monthly expenses of t ...
read moreMortgage Mistakes to Avoid
May 24, 2015
If you about to apply for a mortgage or are currently seeking approval for a loan, here are some pitfalls to avoid. Check your credit. You may have issues with your credit that you don’t know a ...
read moreThe 'Why' Behind Vernon Mortgage Rates
May 14, 2015
Getting the lowest mortgage rate depends on a number of factors. For instance, where you live can affect the lowest available rates. Ontario usually has the most competitive rates in Canada, in ...
read moreCan we transfer our mortgage to another Mortgage Lender?
April 27, 2015
Yes, you can transfer or “Switch” your mortgage to another Lender to take advantage of another low rate offer or better Mortgage Terms. People from all across the Vernon B.C. and surroundi ...
read moreZero Down Mortgages
February 21, 2015
Traditionally, the expected down payment for a home has been 20% of the purchase price. That’s $20,000 down on a home that’s only $100,000 – and that’s a lot of money for what ...
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