The latest from the team at Patching Mortgage
First Time Buyers Bonus
BC First-time new home buyers bonus This is a one time payment worth up to $10,000 for BC residents who are first time home buyers and who
Monoline Lenders
Monoline Lenders are lending institutions that do not have store fronts such as the 5 bank banks (RBC, TD, Scotia bank) Such Monoline lenders include:
Fixed vs Variable
Variable Rates Variable Rates are based on the Bank of Canada’s Prime Rate which is currently at 3%. The BOC meet quarterly and discuss whether
Projected 5 year Fixed vs Variable rates
Major Banks are predicting that Interest Rates are going to rise which, as a result, will force housing prices to drop. Currently the housing market
Getting the Best Mortgage Rate
Getting the Best Mortgage Rate What’s the trick to a better mortgage rate? That’s what folks at the Bank of Canada (BoC) wanted to know. It led
Ten questions to help you avoid mortgage-penalty shock
Figuring out the penalty on a fixed-rate mortgage is like solving a calculus equation. Homeowners who try often wind up hitting their head against hard
First Time Home Buyers
As a first-time buyer, you’ve got other things to consider, including: • Rental costs. (Are they higher or lower than your potential ownership costs?) •
New Mortgage Rules
1. 25 Year Amortization. If you are purchasing a home with less than 20% down, the maximum amortization for these insured mortgages is now 25 years (from 30).
Congratulations To Teresa O’Neill
On behalf of Daniel Patching and Vivid Mortgage we would like to congratulate Teresa O’Neill, winner of two tickets to the Vancouver Whitecaps vs San