Each Office Independently Owned & Operated
Posted by: Garth Chapman
First, some little-known good news: you don’t actually have to be a first-time homebuyer to qualify. A first-time home buyer you must not have lived in another home owned by you or your spouse or common-law partner in the year of acquisition or any of the four preceding years. So now let’s unpack the First-Time Home […]
Read MorePosted by: Garth Chapman
On March 6th The Bank of Canada (BoC) held the line on the Overnight Rate which drives the Banks’ Prime Rates. The direction the BoC decides to take with rates is a direct reflection of today’s economic state; a threat of a recession or other industry-related downturn will prompt it to cut its rate in […]
Read MorePosted by: Garth Chapman
Alberta’s real estate markets are stressed. Prices are flat or down. So this is a Buyer’s Market, and yet so many Buyers are finding it difficult to qualify for the mortgage they need, largely due to the new mortgage Stress Test. Here are a few smart ways that you can use to achieve the mortgage […]
Read MorePosted by: Garth Chapman
Many people think that their credit score will hold them back from obtaining a mortgage. For some, they may have work to do on their debt beforehand, but sometimes people believe their credit is poor, only to find that it isn’t as bad as they thought. It pays to seek help from a Jencor Mortgage […]
Read MorePosted by: Garth Chapman
First time home buyers can obtain a new RRSP loan and 90 days later use the First Time Home Buyers Plan and withdraw up to $25,000 for a home down payment. Pro Tip- you are considered a First Time Home Buyer if you have not owned a home in the previous 4 years. Four Easy […]
Read MorePosted by: Garth Chapman
What is a Monoline lender? A Monoline lender, by definition, is a mortgage lender that focuses on just mortgages. They do not have any other products that can be cross-sold and most Monolines securitize their mortgages, instead of keeping them on their balance sheet. Monolines are secure, follow the same rules as all Canadian Banks and they […]
Read MorePosted by: Garth Chapman
Actions taken since the 2008 financial crisis to address the federal government’s concerns about Canada’s housing market. Before the 2008 FINANCIAL CRISIS This was a time of easy money for Canadian mortgage borrowers. The below were some of the many options available during this time: 100% financing options (aka $0 down). 40-year amortizations. Cashback mortgages […]
Read MorePosted by: Garth Chapman
There once was a time (in 2016 actually) when a client could call and ask what mortgage rate they could expect, and a competent Mortgage Broker could determine the answer in a few seconds. Those days are gone. And during that same time a larger down-payment and long established credit history would result in […]
Read MorePosted by: Garth Chapman
With permission from the author, I am posting this very clear and concise description of the process from start to finish. The author is well-known Edmonton real estate lawyer Darren Richards. I have known Darren for several years and we personally use his services for most of our Edmonton area real estate transactions as well as […]
Read MorePosted by: Garth Chapman
All through human history, in one way or another, adults have cared for their elderly parents in some fashion, from sharing housing to food and financial assistance. What I am now seeing is that this is sometimes a triple-decker sandwich, with Boomers helping their parents, their grown children and their grown grand-children. The stats on […]
Read More