In·di·an Giv·er n. (ca. 1848): A Federal Government which gives something to another and then takes it back. Wow, that sounds familiar, huh. I guess All the HUGE FINANCIAL brain power that went in to extending amortizations to 40 years, was for not. Latest word on the street has the Feds once again monkeying around [...]
Today is day one of the government’s new mortgage rules. Here’s a quick video rundown on qualifying rate…. QUALIFICATION RATE The biggest rule change affects borrowers who put down less than 20% and want a variable or 1- to 4-year fixed term. Yesterday, you might have qualified for a high-ratio $250,000 variable-rate mortgage with a [...]
What most DON’T know about High Ratio Insurance Vancouver Mortgage Broker Mark Fidgett explains High Ratio Mortgages Banks and financial institutions are not allowed to lend against real estate mortgages unless the down payment is at least 20% of the value of the property. In order to achieve a higher level of financing, lenders need [...]
