Author: atrina

When A Pre-Approval Isn’t Quite What You Thought…

When A Pre-Approval Isn’t Quite What You Thought…

When A Pre-Approval Isn’t Quite What You Thought… Pre-approvals: It’s a must when house-hunting, but do you know that a pre-approval is not a guarantee? There are many common misconceptions about pre-approvals, and today I want to share some of those with you so that hopefully you can avoid some of these pitfalls. I want to start off by saying that, regardless of the misconceptions, it is still ALWAYS a good idea to get a pre-approval. Why? Because a pre-approval can put you ahead of other prospective buyers in the […]

A 7 month review of the the stress test that’s stressing us out

Atrina K Blog Image Template July 17 2018

It might not come as a surprise to hear my opinion on the latest mortgage rules introduced 7 months ago on January 1, 2018. Simply put, I don’t think they are appropriate, and in fact, they are hurting Canadians in more than one way. The ‘stress test’ rule seems almost counter-intuitive to what was supposed to happen, and I’ll tell you why… In our red hot market (Vancouver), it was meant to ‘cool’ everything down. Housing prices were predicted to fall as mortgages got harder to qualify for. To no […]

Variable vs. Fixed – the debate continues…still not one size fits all.

Variable vs. Fixed Mortgage Rates - the debate continues… It’s still not one size fits all

Variable Rate Mortgages vs. Fixed Rate Mortgages – the debate continues… It’s still not one size fits all. Variable rate mortgages vs. fixed rate mortgages…the age-old question asked to almost every single mortgage broker out there on a daily basis by their clients. Some recommend fixed and some recommend variable. You’ll likely never get the same exact answer out of two people, and for a very good reason. Variable rate mortgages possess their own advantages and disadvantages just the same as fixed rate mortgages do. What it really comes down […]

What do all the NAFTA talks mean for Vancouver Real Estate?

If you are like most Canadians, you are concerned about NAFTA and its effect on our economy. In my world, as a mortgage broker, I am deeply concerned about what this may bring for our real estate market, but there is one good thing about it (you’ll just have to read all the way to the end to find out…)! It’s definitely early days, and making predictions is nearly impossible, however, with a little bit of research, you can easily learn that what’s happening right now in terms of Trade […]

2/2: New mortgage rules impact on Vancouver’s real estate market

Part Two (2/2): The new mortgage rules impact on Vancouver’s ‘cooling’ real estate market. If you are like most Canadians, you are concerned about NAFTA and its effect on our economy. In my world as a mortgage broker, I am deeply concerned about what this may bring for our real estate market, but there is one good thing about it (you’ll just have to read all the way to the end to find out…)! It’s definitely early days, and making predictions is nearly impossible, however with a little bit of […]

New mortgage rules impact on Vancouver’s ‘cooling’ real estate market

new mortgage rules impact on Vancouver’s ‘cooling’ real estate market.

Part One of Two: The new mortgage rules impact on Vancouver’s ‘cooling’ real estate market. 5 months after the latest mortgage rule changes, we are starting to see some impacts in the real estate market, especially here in Vancouver. Many homeowners have been forced to come up with even larger down payments. Furthermore, they must undergo a new ‘stress test’ which in some cases limits their qualifying amount substantially. Affordability:All of this ‘market cooling’ hasn’t exactly impacted ‘affordability’ as some may have hoped. Many families were optimistic these new rules […]

Credit Score: Q & A On How to Improve Your Credit Score Before Applying For A Mortgage

Improve Your Credit Score

Credit Score: Q & A On How to Improve Your Credit Score Before Applying For A Mortgage It’s time for this week’s hot topic. This week’s questions revolve around credit score and how to improve yours before applying for a mortgage. This is an important subject I have covered before. However, I wanted to provide a source that not only answers these common questions, but that also links to other posts I have shared in one place. Hopefully, this will make gathering information an easier and less stressful task for […]

Pre-sales & Everything You Need to Know About the Mortgage that Goes with It

Pre-Sale Mortgages: What are they & How are they beneficial? Time for the new hot topic of the week. This week’s questions revolve around pre-sales, specifically “what are they and how are they beneficial?” Let’s quickly talk about what pre-sale homes are so that it is easier to navigate the questions that follow. A pre-sale home, condominium, townhouse, or apartment is when the property is available for purchase prior to its construction, or before it’s move-in ready. Pre-sale homes typically come with the 2-5-10 warranty. You will start paying the […]

Source of Income: How does your source of income impact your mortgage options & what to do

Source of Income: How does your source of income impact your mortgage options & what to do

It’s time for another hot question of the week. This is one I get asked ALL THE TIME when I am helping process a mortgage application for my clients. The question simply is “How does my source of income impact my mortgage options?” Lets quickly talk about what an ‘income source’ is so that it’s easier to navigate the questions that follow. Your income source is the description of how you earn your income. It’s not your job per sae, but it’s HOW your job pays you. Ie. are you […]

A New Mortgage Qualifying Rate Increase? Again?!

A New Mortgage Qualifying Rate Increase? Again?!

Hello mortgage advice seekers! Today I want to talk about something that is a very hot topic in the Canadian mortgage market right now. Actually, it’s been something that’s been the topic of conversation for quite some time, but a recent announcement just a couple weeks ago has changed things yet again for Canadian homeowners and want-to-be homeowners. There is no shortage of information floating around on how this may or may not impact you or your friends and family, so I feel that it’s very important today to shed […]

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