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Property Transfer Tax in BC

By | June 17th, 2016|Mortgage Tips And Advice|

The Property Transfer Tax  in BC The Property Transfer Tax in British Columbia is a tax payable to the Provincial Government at the time of purchase  by purchasers of real estate. The tax applies to all types of real estate, whether residential, commercial or industrial. It is exactly that, a tax to transfer title. Here [...]

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Second Home or Rental Property

By | March 26th, 2013|

Second Home Mortgage Hi there, it’s Aleem with themortgagespecialist.com and welcome to our Services Centre–your source for mortgage service information and other need-to-know mortgage-related information!   You have clicked on information for Second Home Mortgage or Rental Property mortgage–and you’ve certainly come to the right place! We’ve helped thousands of homeowners and investors qualify for [...]

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The Truth about mortgage pre-approvals

By | August 21st, 2017|Uncategorized|

Are we Pre-Approved? Not what you might think it means… Many clients think that having a mortgage pre approval puts them in a position to write offers on properties without inserting a ‘subject to receiving and approving financing’ clause in their contract. Nothing could be further from the truth. Being ‘pre-approved’ can all too easily create a false [...]

Lawyer Vs Notary- What is the difference?

By | May 19th, 2017|Uncategorized|

  LEGAL REPRESENTATION IN REAL ESTATE Every real estate transaction, whether buying or selling a home, involves contracts and legal elements. We HIGHLY suggest using legal representation to review contracts, prepare necessary documents and ensure a smooth transaction. The cost is comparatively low (approximately $1000) considering the support and security that having a professional on [...]

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BC Home Partnership Program

By | January 20th, 2017|Uncategorized|

BC Home Partnership Program   By now I’m sure that you have heard about the announcement by the provincial government yesterday surrounding down payment. This is some good news, although with some challenges that need to be addressed, and once the dust settles, will likely have a very small impact- but still good news nonetheless [...]

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Closing Costs

By | February 9th, 2015|

Closing Costs When preparing for your purchase, it is important to keep in mind that there are additional closing costs which may be associated with the transaction.  Many of these closing costs will be dependent on the property you are purchasing as well as the mortgage you choose. Keep in mind that you will be [...]

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Co-signor vs Guarantor for a mortgage

By | December 25th, 2014|First Time Home Purchase, Mortgage Purchase Advice, Mortgage Tips And Advice, Uncategorized|

Co-singing for a mortgage vs a Guarantor Today's first time home buyer help tip we will look at the difference between a co-signor and a guarantor for a mortgage. If a buyer is unable to qualify for a mortgage due to poor credit, employment history, lack of down payment or income — most lenders will [...]

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USING YOUR RRSP

By | February 22nd, 2014|

The information contained on this page is for individuals who are using the Home Buyers Plan for their own purpose. If information is required with respect to withdrawing funds to assist a related disabled person, please contact your financial advisor.  Individuals do not have to include eligible withdrawals in their income, and the RRSP issuer [...]

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