Posts by Eva

What’s Classified as Income for Mortgage Qualifying Purposes?

By Eva / December 10, 2016

What is classified as income for qualifying purposes? Some forms of income that represent revenue to your household may not count as income for qualification purposes. Here are some of the many sources of income and some of the guidelines for using them to qualify for a mortgage. The important thing when it comes to…

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Fraser Valley Area

Fraser Valley Real Estate Market Update October 2016

By Eva / November 8, 2016

The Fraser Valley Real Estate Board recently published the statistics for the Fraser Valley real estate market for October 2016. Sales were up slightly and inventory hit a 10 year low. Sales activity was healthy in October, especially in the townhome and apartment categories. With prices beginning to level-off, it appears that buyers are becoming…

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Mortgage Comparison

Prime Rate Isn’t Apples to Apples Anymore

By Eva / November 7, 2016

In response to recent mortgage qualification changes by the government, the TD Bank announced that it was going to increase the interest rate it charges customers with variable rate mortgages. The changes won’t affect customers with fixed-rate mortgages – nor will they affect other products, such as lines of credit. But customers with variable rate…

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New Mortgage Qualification Changes

Confused by the New Mortgage Qualification Rules?

By Eva / October 22, 2016

New housing policies are coming into effect on November 30,2016. Many Canadians are uncertain about how these new policies are going to impact their finances. Will these changes affect you – and, if so, how? In order to help clear cut through some of the confusion, I’ve prepared a simple, three-page fact sheet. You can…

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Beautiful Home

Should You Rent or Buy?

By Eva / October 1, 2016

Often people say “Don’t pay your landlord’s mortgage for him” or “Build equity for yourself instead of throwing your money out the window.” Buying a home is one of the biggest investments you will make, so it’s important to make a decision that is right for you, whether that is to rent or to buy!

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Nice House

What Can You Afford?

By Eva / October 2, 2016

The best way to avoid paying more than you can afford is to be prepared.  Before you begin to look at homes, meet with your mortgage broker.  They can calculate your “debt service ratio” which will determine how much you can actually afford based on your income and the amount of debt you have. 

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