| |
vancouver mortgage broker: RRSP as Downpayment – first home mortgage using RRSP - 05/18/12 08:01 AM
Imagine being pre-approved for a mortgage, finding the home of your dreams, then realizing that you don’t have enough cash for the deposit.
Yikes!!
Make sure you don’t do this when you buy your next home.
Everything was going along very smoothly until her realtor asked her for a $5,000 deposit.
If using RRSP as a first time homebuyer or you haven’t owned a principal residence within last 5 years, you must complete the Home Buyers Plan (HBP) form from Canada Revenue Agency.
Download it here http://www.cra-arc.gc.ca/E/pbg/tf/t1036
Remember to get the funds out early enough so that you have … (0 comments)
|
vancouver mortgage broker: First Time Home Buyers’ Bonus – BC - 04/20/12 08:08 AM
A short post to clarify the confusion surrounding the new First Time Home Buyers’ Bonus.
Initially, when the First Time Home Buyers’ Bonus was announced in the budget, it was thought to be an offset against income tax payable.
If that were the case, an applicant would only be able to benefit from this program by offsetting the bonus against income taxes that were paid.
We’re very happy to announce that this is NOT how the First Time Buyers’ Bonus works.
The Ministry of Finance tells us that the BONUS has NOTHING to do with a home buyer’s income tax return. … (0 comments)
|
vancouver mortgage broker: Credit No No with Vancouver Mortgage Broker Mark Fidgett - 04/18/12 07:50 AM
What’s the #1 thing you must not do after you apply for a mortgage?
You may be surprised to know this can really affect the mortgage approval process…
Vancouver mortgage broker Mark Fidgett warns clients that this can be a game changer.
This has caused many would be home buyers great problems when it comes to the mortgage approval process and the purchase of a home.
Mark Fidgett is a Vancouver mortgage broker and the driver behind www.NotaPennyDown.com
Your Vancouver Mortgage Broker For Life
www.notapennydown.com
604-273-2002
P.S. Who’s the next person you know who wants to save thousands off their … (0 comments)
|
vancouver mortgage broker: How to Establish Credit and help your kids Vancouver - 04/15/12 07:06 AM
Today’s mortgage question comes from a long time client.
“How Can I Help My Daughter as it relates to credit and mortgages”
This is a great question. Everyone needs to have the ability to borrow money. That’s true whether you’re a young adult starting out or you’re simply starting over after a bankruptcy.
Whether it’s getting a mortgage or simply checking in at a hotel, having credit is a must.
Unfortunately, young adults often face the same dilemma when applying for a job. That is, if you don’t have history you don’t get it.
So here are a few mortgage … (1 comments)
|
vancouver mortgage broker: Are Interest Rates Going Up In Canada? - 04/05/12 11:15 AM
Are interest rates going up in Canada? If yes, when?
If only I had a penny for every time I heard this question. Or should I say, a dime, pennies are history…
All kidding aside, this is a very sensitive subject for many.
As we’ve all heard, as little as a 2% increase in interest rates, is enough to adversely effect many. That said, I’ve always believed that the answer to this question lies heavily on the condition of the US economy. It’s been said many times, Canada won’t raise interest rates until the US does.
So the question then becomes, … (0 comments)
|
vancouver mortgage broker: Purchase Plus Improvements – with Vancouver Mortgage Broker - 04/04/12 07:48 AM
As a mortgage broker in Vancouver, I thought I’d seen it all when it comes to mortgages and financing real estate in Vancouver.
Well that sure changed a couple of weeks ago.
I did something that I’ve never done before.
Let me explain…
A client was referred to me needing a mortgage to purchase an apartment in Vancouver
No surprises here, done that many times.
We pre-approved her mortgage for an apartment purchase in Vancouver with 5% down payment.
We did an interest rate hold for 90 days and sent her shopping.
Well, here’s where it got crazy.
She … (0 comments)
|
vancouver mortgage broker: Credit Bureau Soft or Hard Inquiry with Vancouver mortgage broker Mark Fidgett - 04/01/12 07:53 AM
While depositing a cheque at the bank, the teller suggested that my client apply for overdraft protection.
As is the case with most, she kindly accepted the banks offer without question.
After watching the video below, she phoned back to the bank and asked if the they were doing a soft or hard inquiry? Go figure, back rep didn’t know what a hard or soft inquiry was.
After being transferred back and forth, she was finally told, YES a hard inquiry was done!
Go ahead and watch the video below…
Whenever you apply for credit in Canada, whether it be … (0 comments)
|
vancouver mortgage broker: First-time new-home buyers’ bonus – New 2012 $10,000 B.C. Home Buyers’ Bonus – Vancouver Real Estate News - 03/23/12 08:02 AM
You may have heard about B.C.’s new 2012 $10,000 B.C. Home Buyers’ Bonus in the Vancouver Real Estate News.
Lot’s of mortgage questions coming in as to how this affects the purchase of a home in Vancouver, BC.
Vancouver mortgage broker, Mark Fidgett and real estate lawyer, Tony Spagnuolo, discuss the new $10,000 first-time new-home buyers’ bonus.
ALERT: To clarify, since this recording, the BC Government now says the bonus is NOT claimed when filing an income tax return and the amount of the bonus is not reduced based on an individual’s tax bracket. Applicants can receive a cheque of … (0 comments)
|
vancouver mortgage broker: Vancouver Real Estate Prices and Sydney Crosby with Vancouver Mortgage Broker - 03/20/12 12:24 PM
What does the price of real estate in Vancouver have to do with Sydney Crosby?
On the face of it, not too much, but dig a little deeper and you may see some similarities.
It wasn’t long ago when many didn’t know where Vancouver was, and I’m not talking about Vancouver Washington.
It wasn’t long ago too when many didn’t know who Sydney Crosby was either.
Sydney Crosbey is one of the best hockey players in the world.
Crosby made his NHL debut on October 5, 2005
His entry level salary was under $1,000,000 per year.
Fast forward to July 10, … (0 comments)
|
vancouver mortgage broker: Buy a home for $19 an hour – Really – Vancouver Mortgage broker Mark Fidgett - 03/17/12 09:08 PM
Can I really buy a home and get a mortgage in Vancouver if I only make nineteen dollars an hour?
Many people are very surprised at how much they can afford when we first sit down with them.
Down payment always seems to be top of mind.
Most people think, if I don’t have a down payment, I can’t buy a home.
You may be surprised to learn that a person who earns about $19 per hour, may qualify for a $200,000 mortgage.
You may be asking, but what about my down payment?
I’m going to reveal a secret, well it’s … (0 comments)
|
vancouver mortgage broker: Variable Rate and Fixed Rate Mortgage with Vancouver mortgage broker - 03/16/12 08:04 AM
Receiving lots of questions lately, should I take a fixed rate mortgage Or a should I take a variable rate mortgage?
Great question and as you probably know, the Canadian mortgage market has been changing a LOT lately.
In fact, we’re seeing historically LOW Fixed rate mortgages and at the same time, we’re seeing deep discounted variable rate mortgages, virtually disappearing.
Not too long ago you could get A great variable rate mortgage at Prime minus .90, Or even a full point off.
Well, those days are gone for now.
The best variable rate mortgage right now Is Prime minus … (1 comments)
|
vancouver mortgage broker: Vancouver Mortgage Broker Shows You How to Get $10k FREE - 03/15/12 03:01 PM
First-time new-home buyers’ bonus – New 2012 $10,000 B.C. Home Buyers’ Bonus – Vancouver Real Estate News You may have heard about B.C.’s new 2012 $10,000 B.C. Home Buyers’ Bonus in the Vancouver Real Estate News.
Lot’s of mortgage questions coming in as to how this affects the purchase of a home in Vancouver, BC.
Vancouver mortgage broker, Mark Fidgett and real estate lawyer, Tony Spagnuolo, discuss the new $10,000 first-time new-home buyers’ bonus.
ALERT: To clarify, since this recording, the BC Government now says the bonus is NOT claimed when filing an income tax return and the amount of … (0 comments)
|
vancouver mortgage broker: Why are the Chinese buying up Vancouver? - 08/14/11 08:02 PM
We all know the lure of Vancouver, but why are the wealthy Chinese so keen to purchase properties in Vancouver?
Sure the Economist Intelligence Unit (EIU) again named Vancouver as the “Most Livable City in the World” for 2011, but that’s only one reason Vancouver real estate prices are red hot.
But why are wealthy Chinese bidding up the properties in Vancouver, sending prices in the city soaring in the past three years.
There are a couple fundamental reasons.
Yes they’re anxious to raise their families in the West, but that’s only half the story.
The fact is, the Chinese Government … (1 comments)
|
vancouver mortgage broker: CMHC Finally Gets A Babysitter – Vancouver - 07/22/11 07:45 PM
Apparently, the finance ministry’s legal oversight of the pink elephant, aka CMHC, was long overdue…
In March, Maclean’s warned that the Canada Mortgage and Housing Corporation, the quasi-governmental insurer that underwrites $500 billion of residential mortgages, answers to no one—not Canada’s top financial regulator or even the minister of finance. That all quietly changed last month when Ottawa passed a law that puts the CMHC strictly under the watchful gaze of both the finance minister and the Office of the Superintendent of Financial Institutions (OSFI).
With the new law, CMHC must hand over “prescribed books, records and information” and make those … (1 comments)
|
vancouver mortgage broker: Pre-Approval versus Pre-Qualification – Vancouver - 04/03/11 09:56 PM
Imagine losing $50,000 or MORE?
That’s exactly what the caller in the video below stands to lose.
All because she didn’t know the difference between a Pre-Approval and a Pre-Qualification.
It’s a common story.
Client attends a showroom, likes what they see, writes an offer, gives a deposit and anticipates closing 2 years down the road.
Speculators were purchasing condos by simply putting down deposits with no intention of ever closing.
The market was so hot, they would simply flip the paper.
In the old days that may have been true.
But, many are finding out the hard way that … (0 comments)
|
vancouver mortgage broker: How to increase the value of your property? – Vancouver - 04/03/11 09:52 PM
That’s the question on every homeowners mind. There are two key survival strategies. The first is to think long term, have a plan and stick to it. History shows that this plan of action can pay off.
The second tactic is to outperform the market. This means ensuring your property increases in value at a greater rate than those in your surrounding market. One way to do that is through renovations – but not all projects are created equal when it comes to generating a return on investment (ROI).
Here are the top four “renos for ROI”:
1. Building an income suite … (2 comments)
|
vancouver mortgage broker: How To Win A Listing Presentation - 12/29/10 09:39 PM
Suggesting a higher listing price may be exactly what the seller wants to hear. In fact, it may even establish rapport with the seller. Is it wrong to establish rapport, knowing full well the price is too high? I read a book a couple of years ago on Psychology. Based on the story below, as it might relate to winning a listing presentation, would you consider the realtor who engages in this type of listing tactic to be smart and trustworthy? Believe it or not, this is a principle of psychology, whereby we are convinced by a false sense of trustworthiness. … (8 comments)
|
vancouver mortgage broker: Free Secret to the Top of Google - 12/25/10 02:15 PM
Free SEO advice that will catapult you to the top of Google that SEO companies will never tell you! Secret to FREE Search Engine optimization.
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 about to someone you TRUST!
T 604.273.2002 | F 604.522.2072
W http://www.notapennydown.com
An independent Mortgage Specialist associated with the Verico Mortgage Network. … (1 comments)
|
vancouver mortgage broker: First Time Home Buyer Program explained by Vancouver Mortgage Broker Mark Fidgett - 01/18/10 06:04 PM
In this video Vancouver Mortgage Broker Mark Fidgett reveals the TRUE First Time Home Buyer Benefits The 3 most important things you need to know when buying your first home When I bought my first home, I was fortunate enough to have some cash saved for a down payment. Most young people, however, don't have this luxury but they have some money in an RRSP. In this particular situation, using the RRSP First Time Home Buyers Plan (HBP) can be of great benefit. What is the HBP? The RRSP Home Buyers plan is a program that allows first time home buyers … (0 comments)
|
vancouver mortgage broker: Mortgage Secrets After Bankruptcy - 12/09/09 12:03 AM
It's an uphill climb credit wise after bankruptcy. But with the RIGHT advice, it can be done. You may need my help in obtaining a mortgage since traditional lenders only focus on clients with good to excellent credit. While there are people in this business who will only deal with prime clients, I'm not one of them. My business philosophy is to help everyone possible. When a person declares bankruptcy and is subsequently discharged, they're often left with little or no information. The following video explains what I feel are the most important things you need to know after bankruptcy. I … (1 comments)
|
|
|
|
|
|
Mark Fidgett
Vancouver,
BC
More about me…
Mark Fidgett - www.NotaPennyDown.com
Address: 1530 7 Avenue West, Cancouver, BC, V6J 1S3
Office Phone: (604) 273-2002
Email Me
All things about Real Estate and mortgage financing in Vancouver BC
 Listings
Links
Archives
|
;)
;)
;)
