5 Mistakes First Time Home Buyers Should Avoid By Geoff Lee

General Krishna Menon 10 Oct

5 MISTAKES FIRST TIME HOME BUYERS SHOULD AVOID Buying a home might just be the biggest purchase of your life—it’s important to do your homework before jumping in! We have outlined the 5 mistakes first time homebuyers commonly make, and how you can avoid them and look like a Home Buying Champ. 1. Shopping Outside […]

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Raise your credit score in 3 months…By David Cooke

General Krishna Menon 3 Oct

RAISE YOUR CREDIT SCORE IN 3 MONTHS   While people often think of mortgage brokers when they are first time home buyers, we can help people in a variety of different ways. Recently Garrett LaBarre of Calvert Home Mortgages in Calgary shared a success story with brokers. He had a client referred to him by […]

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Mortgage Strategies: Take me out to the ball game!

General Krishna Menon 26 Sep

While most people start off their mortgage search by going after the lowest rate, what they are really after is the mortgage with the lowest cost. Then again, the majority of borrowers in Canada end up with a mortgage that is not the lowest rate nor the lowest cost. Strike 1! Whether borrowers realize it […]

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First Time Home Buyers Incentive Program

General Krishna Menon 18 Sep

FIRST TIME HOME BUYERS INCENTIVE PROGRAM The new First Time Home Buyer Incentive program from CMHC (Canadian Mortgage and Housing Corporation) was officially released on September 2. This program was met with mixed reactions across the mortgage industry, but we wanted to take a minute to give you the facts regarding the program. Below are […]

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August Data Confirm that Housing has turned the corner by Dr. Sherry Cooper

General Krishna Menon 18 Sep

AUGUST DATA CONFIRM THAT HOUSING HAS TURNED THE CORNER Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales rose for the sixth consecutive month. Transactions are now running almost 17% above the six-year low reached in February 2019, but remain about 10% below highs reached in 2016 and 2017. Toronto, […]

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Canadian Jobs Surge Following a Three-Month Slowdown

General Krishna Menon 10 Sep

Canadian Jobs Surge Following a Three-Month Slowdown   The Bank of Canada’s reticence to signal coming rate cuts has been vindicated by the rebounding jobs report released today for August. Following a strong posting for real GDP growth in the second quarter, Canadian job growth surprised on the upside with a gain of 81,100 in […]

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Wondering how the Residential Market is doing? Here is an update.

General Krishna Menon 3 Sep

Residential Market Commentary – Rate cut seems certain Market watchers have really come around to the idea that the Bank of Canada is going to be cutting interest rates.  The only point that is up for debate is when. The latest GDP numbers, which surprised just about everyone, are not going to be enough to […]

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General Krishna Menon 20 Aug

7 STEPS TO BUYING A HOME It’s important to understand the home buying process, so here’s a 7-step checklist. Step 1: Down Payment The hardest part to buying a home is saving the down payment (a gift from the Bank of Mom & Dad also works). • For purchases under $500,000 minimum down payment is […]

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Mortgage Broker History and Mortgage Applications

General Krishna Menon 12 Aug

MORTGAGE BROKER HISTORY AND MORTGAGE APPLICATIONS In the past, we had banks (bank as a catch all for credit unions and trust companies) and Mortgage Brokers. Writing mortgage applications is extremely difficult; there are a lot of moving parts in a mortgage. Because of this, banks employ mortgage specialists whose sole role is to provide […]

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Source of Funds

General Krishna Menon 6 Aug

SOURCE OF FUNDS Over the past several years, investigators have been working on an ongoing investigation relating to criminal money laundering in Canada. Looking at B.C. alone, billions of dollars have been laundered through B.C. casinos by criminal organizations and parked in high end B.C. real estate over the past decade or more. With government […]

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