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What is this program? The government of British Columbia has introduced a program designed to help first-time homebuyer clients buying residences located in BC. Repayable down payment assistance loans will be made available between February 15, 2017 and March 31, 2020 to eligible first-time homebuyers requiring a high-ratio insured first mortgage. How does it work?…
CMHC/Genworth/Canada Guaranty Increases Their Premium AGAIN If you’re in the market for an insured mortgage, then you might want to get that mortgage before March 17. Canada Mortgage and Housing Corporation (CMHC) is raising premiums for insuring mortgages on Canadian homes for the third time in three years. Canadian homebuyers are required to have mortgage…
On November 30, 2016 the Federal Government implemented their last set of mortgage underwriting changes. The purpose for the changes was to make borrowing more difficult and to slow down real estate investment in Canada. These changes may have had a greater impact than what the Federal Government had intended and there could be revisions…
“We would like to thank Marty and Team Pospischil for their efficient and professional services. Our home was sold within a week for a price over asking and with multiple offers. Even the winter snow storms of the past week didn’t slow things down! Nice work team! ” -Linda and Keith