Why Should I get a Mortgage Pre-Approval
Prince George Mortgage Brokers
by Michelle McCullough
5d ago
A mortgage pre-approval can be an important part of your pathway to building wealth, giving you a real-world picture of your options: that is, your opportunities as well as your limitations. A mortgage pre-approval will tell you how much you qualify for (you may be pleasantly surprised), what your mortgage payments will be, and you’ll get an interest rate that will be held for a specific time period, like 120 days.   If you are purchasing a new home, then you’ll be shopping with a full wallet! You’ll know exactly what you can afford. You want to avoid reaching too far financially for ..read more
Visit website
Time to spring forward with your mortgage goals!
Prince George Mortgage Brokers
by Jamie Cunningham
2w ago
As the days grow longer, we warmly welcome the arrival of spring – a season of renewal and growth. Just as we set our clocks forward for daylight saving time, it’s a perfect moment to take proactive steps in managing your mortgage goals. Whether you’re considering buying a new home, refinancing, or making strides toward paying down your mortgage, we encourage you to “spring forward” this month! Re-evaluate Your Mortgage Strategy With the change of seasons, it’s an ideal time to review your current mortgage. The market is constantly evolving, and refinancing could offer ..read more
Visit website
Demystifying Credit Scores
Prince George Mortgage Brokers
by Jamie Cunningham
5M ago
These days, like so many things, your credit score is easily accessible and free. Not so long ago, the only way to see your credit score was to obtain a copy of your credit report, which involved submitting a request and paying for the privilege. In 2014, however, legislation was passed that transformed the credit reporting landscape and Canadian consumers now enjoy the convenience of instant access to their credit score. While it can be an incredibly useful tool to give you a general idea of your financial standing and to protect yourself against identity theft or fraud, it’s important to und ..read more
Visit website
Mortgage Payment Options
Prince George Mortgage Brokers
by Michelle McCullough
7M ago
When finalizing your mortgage, you’ll need to decide which payment option to choose. The option you choose will determine how much and how often you’ll pay. There are 5 different payment options to choose from: MONTHLY – mortgage payment is withdrawn from your bank account on the same day of every month (i.e. on the 1st), which means you make 12 payments per year. BI-WEEKLY – monthly mortgage payment is multiplied by 12 months and divided by the 26 pay periods in a year. As a result, you make 26 payments per year. ACCELERATED BI-WEEKLY – monthly mortgage payment is divided by two and the a ..read more
Visit website
Downpayment Savings Strategies
Prince George Mortgage Brokers
by Michelle McCullough
7M ago
Saving for a downpayment requires discipline and determination. Whether you’re aiming for the minimum downpayment (like most first-time homebuyers) or 20% down, there are some strategies to help you get there. If you are in the “saving up” stage of preparing for homeownership, this is a great time to meet. Make it Your #1 Financial Priority As early as you can, set up a dedicated bank account or an FHSA (see below) and start channelling every single dollar you can afford into your downpayment savings. Maybe a little off every paycheque. Your tax return. The extra funds from that long-awaited ..read more
Visit website
How Much Downpayment Do You Need?
Prince George Mortgage Brokers
by Michelle McCullough
7M ago
To purchase a home in Canada, you need a minimum of 5% downpayment. That’s 5% of the price you pay for the home if your purchase is $500,000 or less. For instance, for a $400,000 home, you need a $20,000 downpayment. What if the house you want is more than $500,000? Good question. Because the rules change. For any home over $500,000 but less than $1 million, you need 5% on the first $500,000… which is always going to be $25,000. And then you’re going to need ten per cent for any amount over that. So if your house price is $650,000, you’ll need your $25,000 plus ten percent of the extra $150,0 ..read more
Visit website
Six Incentives for First-Time Buyers
Prince George Mortgage Brokers
by Jamie Cunningham
8M ago
When buying your first home, don’t leave money on the table! Take advantage of the programs and incentives offered by the federal government that can help you achieve your new home.  Tax-Free Home Savings Account (FHSA): This new registered plan combines features of an RRSP and TFSA, giving first-time buyers the ability to save $8,000 per year tax-free (lifetime maximum of $40,000) toward the purchase of a home. Like an RRSP, contributions are TAX-DEDUCTIBLE and any unused contribution room can be carried over into the next year. Like a TFSA, there is no tax withheld on withdrawals ..read more
Visit website
First National’s Pave the Way with $20K
Prince George Mortgage Brokers
by Michelle McCullough
1y ago
What are you most looking forward to in 2023? What exceptional things have you planned? Whatever you have in store, First National has one more! Give yourself the chance to start 2023 exceptionally with a $20K prepayment towards your mortgage by entering First National’s Pave the Way with $20K contest. The contest runs from October 1 – December 15, 2022, and each First National mortgage is eligible for one entry. The $20K mortgage prepayment grand prize will be awarded in January 2023. Entering is easy: Log in to My Mortgage Click on the contest entry image below the left ..read more
Visit website
Going Through a Separation or Divorce?
Prince George Mortgage Brokers
by Michelle McCullough
1y ago
Going through a separation or divorce? Your home can be the asset that gives both partners a fresh start.  If you have a final separation agreement, then talk to us about how the value in your home and the power of your mortgage can help you both move forward on firm footing. We will start by asking some key questions: Are you hoping to stay in the existing home?  Many couples assume that the house must be sold – but that’s not always the case. We have resources that can help one partner remain in the home. The home can be refinanced up to 80 per cent of its value. You’ll need to d ..read more
Visit website
The Lowdown on Down Payments
Prince George Mortgage Brokers
by Michelle McCullough
1y ago
We get questions about down payment all the time! So here is the lowdown on how much you need, and how you might get it. How much do you need? Not surprisingly, most Canadian homebuyers purchase a property with the absolute minimum down payment. The thing is, the minimum can vary, so you want to be sure you know how it’s calculated.  Will you live in the home? If the house will be owner-occupied, then you need 5% down for the first $500,000 of the purchase price, and 10% for any amount over $500,000 up to $999,999.  If the purchase price is $1,000,000 or more, the minimum&n ..read more
Visit website

Follow Prince George Mortgage Brokers on FeedSpot

Continue with Google
Continue with Apple
OR