B.C. First Time New Home Buyers Bonus

Posted by Scott Dawson on Feb 21, 2012 in Blog, News | 0 comments

Subject to approval by the legislature, the B.C. government has announced plans to implement a temporary BC First-Time New Home Buyers’ Bonus. Effective February 21, 2012, to March 31, 2013, the bonus is a one-time refundable personal income tax credit worth up to $10,000.

What is a Strata Fee? [Video]

Posted by Scott Dawson on Feb 19, 2012 in Blog, Video, Weekly Mortgage Tip | 0 comments

When purchasing a home there are many costs to consider that go along with home ownership on top of your mortgage payment. One of those costs is the monthly strata fee if you purchase a condominium property. Many home buyers ask, “What exactly is a strata fee and where does my money go?”

Michael Thorne from Re/Max Little Oak Realty in Langley B.C. answers those questions in this informative video.

Bank of Canada Qualifying Rate Increasing to 5.24%

Posted by Scott Dawson on Feb 17, 2012 in Benchmark Qualifying Rate, Blog, News | 0 comments

The Bank of Canada Qualifying Rate will increase to 5.24% Monday February 20th, 2012.

In accordance with the new CMHC mortgage changes, at 12:01 AM EST Monday, the benchmark qualifying rate for insured high-ratio mortgages will be 5.24%.

Clients will now have to qualify based on the 5.24% interest rate if they want to choose a variable or a 1- to 4-year fixed term if you’re putting down less than 20%.

Family Day: Lenders are Closed

Posted by Scott Dawson on Feb 17, 2012 in Blog, News | 0 comments

A reminder to my Realtor partners: Family Day is observed in the Provinces of Alberta, Ontario and Saskatchewan on Monday February 20th. Lenders and Banks that are based in these Provinces will be closed. These closures will impact service levels so it is important to remember to allow extra time if there is a subject to financing.

If you have any questions don’t hesitate to contact me anytime.

Self Employed Borrower Homebuyers Guide

Posted by Scott Dawson on Feb 15, 2012 in Blog, News | 0 comments

Our popular HomeBuyers Guide is now available for Self Employed Borrowers in a dynamic, engaging and truly interactive Multi-Touch iBook designed exclusively for your iPad from the Apple iBookstore.

At Verico Paragon Pacific Mortgages we have enhanced mortgage options for those Business for Self applicants who have difficulty meeting traditional income guidelines and our Self Employed Borrower HomeBuyers Guide was created to educate you through the home ownership process while providing you with more interaction than a typical pamphlet or PDF. In the guide you will find useful videos and links to various resources that we think will help the whole process much more educational and enjoyable.