Seven Mistakes That House Buyers Do When Taking a Mortgage

Seven-mistakes-that-house-buyers-do-when-taking-a-mortgage

Choosing  an “on sale” fixed rate at a bank that collects high mortgage penalties According to unofficial statistics 6 to 7 out of 10 mortgage owners will payout the mortgage early and will pay mortgage penalties. At the point of taking the mortgage, all these people will confidently declare they will never payout the mortgage […]

Heading To A Happy Fall 2017- Mortgage Rules Become Stricter And More Is To Come

Heading-to-a-happy-fall-2017

Changing the stress rate The recent change to mortgage rules indicate that in order to receive a variable interest rate that has been the best choice for the last 15 years, each mortgage request will be judged by fictitious interest rate of 4.84% and not 4.64% (=stress rate) as it was till now. This is […]

5 reasons why your mortgage application is denied

reasons why your mortgage application is denied

You have a good credit score, the full down payment, steady job with a high enough salary but still the bank rejected your mortgage application. What are the common reasons for rejection these days? You have an excellent credit score but you were still rejected due to your credit Credit score of over 700 will […]

Another Cut on Overnight Rate – What Does it Mean?

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As predicted, the overnight rate has been lowered today by 0.25% taking it to a new low level of 0.5%. What impact does it have over us? Firstly, it’s another reflection of a the recession we all experience: higher rates of un employment, more and more small and medium businesses closing down and difficulty to […]

Where Immigrants Live in Metro Vancouver

Sneg Mortgage Team - Vancouver Mortgage Brokers - Where Immigrants Live in Metro Vancouver

Greater Vancouver is blessed with divers population coming from all over the world. In the last decade, investors and families bring foreign money and purchase big houses in best areas and cities. Houses are purchased above asking and the demand seems to drive the prices up. in some cases those properties are left vacant, and […]

How much do you need to earn to buy house in Canada?

Sneg Mortgage Team - Vancouver Mortgage Brokers - House in Canada

If you wish to purchase a house in Canada and take a mortgage for it, banks will need to calculate the proportion between your household income and the monthly payment for the mortgage (GDS). On top of it they will look at the proportion between this income and the overall monthly commitment you carry, including […]

House prices in Vancouver

Sneg Mortgage Team - Vancouver Mortgage Brokers - House proces in Vancouver

House prices in Vancouver constantly go up. In the last year and a half the East side of the city took turn and rose in value. Same time Toronto experienced price hikes that broke the record. The high housing price makes it hard to purchase a decent house in the above cities. on top of […]

The unbelievable truth about flipping houses in Vancouver and Toronto

Sneg Mortgage Team - Vancouver Mortgage Brokers - Flipping house in Vancouver

A month ago I had the pleasure to participate in one of the “ Flipping Houses in Vancouver ” seminars that have been flooding Vancouver lately. When I first got the invite for the 3-hour session, I was quite suspicious. The organizers promised to reveal where and what to buy, how to do it and […]

Can a non-resident get a good mortgage without Social Insurance Number and credit rating in Canada?

Sneg Mortgage Team - Vancouver Mortgage Brokers - mortgage without Social Insurance Number

Definitely! Here’s a true story brought to you from Alberta: A mutual friend introduced Jonathan to me. When we met, there were two questions on his mind: Can I help arrange a mortgage in provinces other than British Columbia and Toronto, and can a non-resident that has no SIN be qualified to get a Canadian […]

Did you know? There is special line of credit promo for medical doctors

Sneg Mortgage Team - Vancouver Mortgage Brokers - line of Credit Doctors

If you’re a medical professional, read on! There’s been a new phenomenon in the mortgage industry- a special promo for specific occupations. I have no idea who came up with it, but it’s a fact. One of the strongest lending institutions came up with a special line of credit promo that is only open to […]