Archive for March, 2010

Rental offset is the percentage of rental income a borrower receives that the lender is willing to use to qualify him/her for a mortgage.  Specifically, the use of 80% rental offset will be eliminated on April 19, 2010.  It will be replaced with a 50% add-back calculation.  This will have a significant impact on how much […]

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When it comes right down to it you already know that there are many reasons that you are judged by your credit every single time you try to make a financial decision and even for employment. This is why you have to check your credit rating at least twice a year. There are many things […]

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You may be unaware that 100% financing or a “Zero down” mortgage still exists. On October 15, 2008 the rules passed by Canada’s finance minister took effect, and the existing no money down program was cancelled. However, despite being cancelled. There IS another way… This program is called “flex down” or “free downpayment mortgage” and […]

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Borrowing Guidelines for Insured Stated Income Programs in Canada are about to change The borrowing guidelines for insured Stated Income Programs are about to undergo some major changes and these changes will be implemented effective April 9, 2010. The changes are being announced by CMHC (also known as Canada Mortgage and Housing Corporation). CMHC’s changes, […]

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Imagine if this was you? Don’t wait, call today and allow me to enhance your net worth “For Free” Why wouldn’t you? I welcome your comments below : ) Mark Fidgett | 604-273-2002 “Your Personal Mortgage Consultant….For Life!” PS – Please Don’t Keep Me a Secret A REFERRAL is when you INTRODUCE someone you care […]

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New Rule #1: Increased qualifying rates on fixed terms less than five years and variable mortgages. Effective April 19, all high-ratio insured mortgages that have a variable rate or a fixed term under five years will be qualified using the: the chartered bank 5-year posted rate (5.39% today), or There’s been a lot of speculation surrounding […]

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The IRD is a compensation charge that may apply if you pay off your mortgage prior to the maturity date, or pay the mortgage principal down beyond the amount of your prepayment privileges. The IRD is based on: The amount you are pre-paying; and, An interest rate that equals the difference between your original mortgage […]

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Receiving LOTS of questions about the new HST and what impact it will have on Real Estate sales in BC. My 2 Part interview with Tony Spagnuolo, owner of one of the largest real estate specific law firms in the lowermainland. BOTH Part 1 & 2 of the interview are below. www.bcrealestatelawyers.com. We’ve included a […]

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