Credit Mortgages and Finance

How can you master your credit score and ways to improve it.

Found 135 blog entries about Credit Mortgages and Finance.

Kelowna Duplex for saleThere’s Strength in Numbers, Especially When It Comes To Making Mortgage Payments

So you’ve been renting for several years and you’ve worked your way into a sound financial situation. Time to buy a house, right? Absolutely. But the important question is: what kind of a house? After sharing buildings with other tenants you’ll probably be imagining moving your family into a snug little single dwelling castle of your own. However, that isn’t necessarily the wisest decision for everyone. Of course, there is something undeniably appealing about having a place all to yourself – but don’t forget to consider the charms of sheltering a tenant or two under your newly purchased roof. Buying a Duplex, Triplex or Fourplex can have a huge impact on your future as a

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Apprisal tips When you refinance your mortgage, a very important stage in this process is getting a great home appraisal.

This can make the difference between getting a good deal or losing even more money. While your home’s location is something that can add up value (or not) to the final price, there are many things you can do to drive the price up.

Here are few home appraisal tips

Do your homework

Don’t let the appraiser do all the ‘digging‘ (especially if he’s not from the area). Even if you get to work with a very well prepared professional, knowing the price for similar houses in your area and what’s cool and new in the neighborhood, can set you up for a better appraisal. It all matters: housing prices, a new restaurant, a great high-school etc. Make

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Kelowna listing agreementIf you bought or sold a home recently, chances are you signed a listing agreement – but did you truly understand what you were signing?

Selling a home is a stressful time and can be worse if an employment change for example is forcing you to move quickly. While a common component of real estate transactions, listing agreements can have language that can be overlooked. Here’s what you should know about them – before signing on the dotted line.

What is a Listing Agreement?

A listing agreement is standard paperwork between the listing agents brokerage and the Sellers of the property. This document is much like an employment contract between the Sellers and the Listing Brokerage. This paperwork is completed before the listing can be active as an

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Every BritisKelowna first time home buyerh Columbian deserves a place to call home. That is why we are taking action to control the cost of housing, increase access to affordable rental units, and help families make their dream of homeownership come true.

What is the Home Owner Mortgage and Equity (HOME) Partnership?

From middle class families to young professionals, first-time home buyers are looking to invest in a secure and stable future.

For many British Columbians dreaming of buying their first home, the hardest step is saving for a down payment. That is why the Province is Kelowna BCpartnering with British Columbians to help make that dream come true, through the B.C. Home Owner Mortgage and Equity (HOME) Partnership program.

Through the B.C. HOME Partnership program, the

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Canadian BanksToronto-Dominion is raising mortgage rates again

This time the lender is going much farther than its recent hikes.

Starting December 1, all fixed rate mortgages that take more than 25 years to pay back will cost borrowers an extra 10 basis points, or 0.1 per cent. TD is also implementing an extra cost for mortgages on rental properties, charging borrowers 25 basis points more.

The changes follow Royal Bank of Canada’s precedent-setting decision early in November to hike rates, and to also charge more for lengthy mortgages. The latter move marked the first time such a policy was implemented in Canada.

In response, TD increased its own fixed-mortgage rates a week later, but took a more measured approach. Royal Bank hiked its fixed five-year

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Candian Real EstateThe home-buying landscape – especially when it comes to mortgage qualification and rates – seems to be changing constantly these days.

Mortgage expert Atrina Kouroshnia makes sense of it all

Until (very) recently, Canadians were getting the short end of the stick – at least when it came to income qualifying, compared with foreign buyers. Unlike Canadians, those from outside of Canada could essentially just plunk down 35 per cent on a property in order to buy it; this without some lenders doing serious due diligence on whether they were good for the remaining capital. This had many Canadians furious about the tight guidelines and standards that they were compelled to meet, but that foreign buyers were not. Things changed last month.

You know

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5 great home buyer tipsIf you thought down payment and closing costs were all you'll pay for when buying your new home, think again. Here's how you can manage your expenses

So you’ve finally purchased a home! After all of the months of searching, and another few weeks poring over endless paperwork, you have been given the keys to your beautiful home. Now all you have to do is buy new appliances, get some new furniture, bedding for the guest room, hire a landscaping service...and the list goes on and on. Just when you thought you had spent all your money on your down payment, now is the time that the expenses really start to add up. After you buy a home, you suddenly realize how many things you “need” in order to make your home function. But now is the time to be careful with

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New mortgage rules in CanadaOn Monday the 17th of October, stricter new federal rules about who can qualify for an insured mortgage took effect across the country.

Now, all new mortgage applicants have to pass a ‘stress test,’ which tries to predict whether they can keep up with mortgage payments, at their current salary levels, if interest rates were to rise.

Low interest rates have fueled red-hot real estate markets in south-central Ontario and, especially, Vancouver. As real estate values have skyrocketed in both places, uneasiness has grown about affordability and whether real estate has become a bubble economy. Because of mortgage insurance guarantees, Ottawa has a stake in home buyers not buying more than they can afford (leaving aside risks to the wider economy).

Canada mortgage stress test“I

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Foreclosure in KelownaOften real estate investors look at purchasing foreclosed homes in Canada.

Are there really deals to be had? What if you plan to renovate and flip it?

A foreclosure is the legal process that takes place when a homeowner can no longer pay his or her mortgage. The bank or lender seeks to recoup monies owed by selling the property, wherein, the borrower loses any financial interest in the property.

The foreclosure system in Canada does not create the extravagant deals that the system in the US does. Although “deals” can be found, it is mostly on properties that have very little interest from buyers. In Canada, each province has its own system, as well, which makes the process of buying a foreclosed home more complex for buyers. For instance, in BC,

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Canadian Real Estate PolicyHousing policy is being created for the whole country based on markets in Toronto and Vancouver

They are Canada’s two hottest housing markets, and even some in the real industry don’t question the need to cool prices in both Toronto and Vancouver, but that opinion changes once you get beyond the orbit of those two cities.

There is almost a sense of bewilderment in places like Halifax and Edmonton or Montreal, where people wonder what overheated housing market anyone is talking about, because it’s not happening in their jurisdiction. DBRS Inc. said this week that from July 2015, to July 2016 prices across the country are almost flat once British Columbia and Ontario are excluded.

“It’s raining in Vancouver, but first-time home buyers need an

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