22 Mar

Federal Budget March 2017

General

Posted by: Anne Martin

Min Morneau and Prime Minister Trudeau

 

The Federal Budget March 2017 has been tabled.  Aimed to strengthen the middle class there are many features included but there are also many that were not included such as changes to capital gains tax and there are no new mortgage rule changes.

Here are some of the inclusions.

  • Skills, Innovation and Middle Class Jobs
  • Communities Built for Change
  • Tax Fairness for the Middle Class
  • A strong Canada at home and in the World

Follow this link to opinion by Dr. Sherry Cooper, Chief Economist Dominion Lending Centres.  http://ow.ly/xSpQ30aazgA

Follow this link to the Federal Government announcement. http://www.budget.gc.ca/2017/home-accueil-en.html

 

21 Mar

Why did your mortgage broker require so many documents?

General

Posted by: Anne Martin

Why So Many Mortgage Documents?

A mortgage application is complicated.  Along with your declarations about your income, you have to provide proof of what you said.  This makes sense because many people are unsure about their yearly income or they are mistaken.  Other statements that have to be proven include current mortgage status, job status,  debts, child tax credits, income and property taxes, sources of down payment and more.

Required documentation is determined by the particulars of the mortgage application.

Incredibly, many years ago proof of your statements on the application were not universally required.  Back in those days, there was very little fraudulent behavior.  Unfortunately, our “word” is not good enough as we must provide the proof in writing to guard against fraud and money laundering.  Lending institutions and insurers will even scrutinize our proof because there is all types of fraudulent activities even when the documents appear to be “true and accurate”.

Its just a sign of the times.

KATHLEEN DEDILUKE explains more below;
Dominion Lending Centres – Accredited Mortgage Professional
Kathleen is part of DLC Integrity Mortgage BC based in Nanaimo, BC

Why So Many Mortgage Documents?

 

17 Mar

Mortgage Insurance Premiums are Rising – Mortgage Market Update March 17, 2017

General

Posted by: Anne Martin

What does this mean to you as an existing or potential homeowner?

Now more than ever, it is essential to speak with me to make an informed decision on what is likely to be the one of largest purchases of your life.

How will the new rules affect the average consumer?  Click HERE to read more.


Best rates are as low as 2.59% for a 5 year fixed, variable rate prime minus 2.70%

*OAC  **conditions apply

This is a critical time to sit down and review your household financing needs. Please do not hesitate to contact me should you have any questions.

If you are in the market for a home, or need to refinance in the next year, it is really important to make an appointment today to find out how these changes may affect you.

**rates subject to change with market conditions – E. & O. E.

For further interest rate info and full newsletter, CLICK HERE

10 Mar

Mortgage Market Update March 8, 2017

General

Posted by: Anne Martin

Would you like tips to improve your credit score?

Click HERE to find out how.

Best rates are as low as 2.59% for a 5 year fixed, variable rate prime minus 0.65%
*OAC  **conditions apply

This is a critical time to sit down and review your household financing needs. Please do not hesitate to contact me should you have any questions.

If you are in the market for a home, or need to refinance in the next year, it is really important to make an appointment today to find out how these changes may affect you.

**rates subject to change with market conditions – E. & O. E.

For more rate details, CLICK HERE

2 Mar

Mortgage Market Update March 2, 2017

General

Posted by: Anne Martin

MARKET UPDATE

 

Best rates are as low as 2.64% for a 5 year fixed, variable prime – 0.60%
*OAC  **conditions apply

This is a critical time to sit down and review your household financing needs. Please do not hesitate to contact me should you have any questions.

If you are in the market for a home, or need to refinance in the next year, it is really important to make an appointment today to                                                                           find out how recent changes may affect you.

**rates subject to change with market conditions – E. & O. E

For more rates and info click here.