STERLING WONG Personal Real Estate Corporation


黃德健


+1 (604) 836-0506 

                                                  
RSS

Thank you for the Canucks tickets, Eric! 

If you are looking for someone to help you secure a mortgage, Eric Sit from Verico Paragon Mortgage could help you.  He is one of the top mortgage specialists in the Lower Mainland.  Feel free to contact him at (604) 889-6176 or eric.sit@verico.ca.


Read

Paul, thank you for always coming to my rescue with last minute inspections, even if you have one or two booked for that day. Appreciate the wine, brother! :)  Happy holidays to you and your family!


If you are looking for a knowledgeable and energetic inspector, Paul Friesen, with ifinditinspections, is your guy!


Read

Fantastic December day for an inspection!  Beautiful reno in a nice Vancouver neighbourhood.  Let's do this!


Read

The federal government is boosting the minimum down payment for higher-priced homes in Canada effective in the new year.


Finance Minister Bill Morneau announced that homebuyers are currently required to put down a minimum of 5% for the portion up to $500,000 to qualify for Canada Mortgage and Housing Corporation (CMHC) insurance — protection that lenders insist on when providing a mortgage worth more than 80 per cent of the home's value.


As of February 15, 2016, CMHC will require a 10% downpayment on the portion of any mortgage it insures over $500,000.  For instance, if someone is looking to buy a $750,000 home would need to have a minimum down payment of $50,000, which is what you get when you add five per cent of $500,000 and 10 per cent of the remaining $250,000.


Banks are forbidden to provide "high-ratio" mortgages — when the amount being borrowed is more than 80 per cent of the home's purchase price — without taking out insurance for it


The new rule doesn’t affect properties over $1 million because they don’t qualify for high-ratio mortgage insurance.

 

This post is directly copied from  CBC and Canadian Mortgage Trends


Read
Categories