Comments for Christine Best Rate Mortgage Vancouver Canada http://vancouverbestmortgage.wordpress.com Best Rate Best Mortgage Canada, Best Mortgage Broker BC, Bank Says No Mortgage Sun, 21 Jun 2009 22:26:46 +0000 http://wordpress.com/ hourly 1 Comment on How is Property Transfer Tax Calculated? by Who Qualifies for First Time Home Buyer Exemptions « Christine Best Rate Mortgage Vancouver Canada http://vancouverbestmortgage.wordpress.com/2008/04/01/how-is-property-transfer-tax-calculated/#comment-148 Who Qualifies for First Time Home Buyer Exemptions « Christine Best Rate Mortgage Vancouver Canada Sun, 21 Jun 2009 22:26:46 +0000 http://vancouverbestmortgage.wordpress.com/2008/04/01/how-is-property-transfer-tax-calculated/#comment-148 [...] you are purchasing your first home, you may qualify for an exemption from property transfer tax. Certain requirements [...] [...] you are purchasing your first home, you may qualify for an exemption from property transfer tax. Certain requirements [...]

]]> Comment on How is Property Transfer Tax Calculated? by Home Buying – All Closing Costs and Associated Fees « Christine Best Rate Mortgage Vancouver Canada http://vancouverbestmortgage.wordpress.com/2008/04/01/how-is-property-transfer-tax-calculated/#comment-143 Home Buying – All Closing Costs and Associated Fees « Christine Best Rate Mortgage Vancouver Canada Mon, 01 Jun 2009 07:52:03 +0000 http://vancouverbestmortgage.wordpress.com/2008/04/01/how-is-property-transfer-tax-calculated/#comment-143 [...] Deposit Estoppel certificate fee (for condominium/strata unit) Home Inspection $300 – $450 Land Transfer Tax Legal fees and disbursements ($700 – $1200) Mortgage broker’s fees Mortgage loan [...] [...] Deposit Estoppel certificate fee (for condominium/strata unit) Home Inspection $300 – $450 Land Transfer Tax Legal fees and disbursements ($700 – $1200) Mortgage broker’s fees Mortgage loan [...]

]]> Comment on Qualifying 2. Debt Service Ratio (TDS and GDS) by CMHC - Self-Employment (BFS) Policy Change « Christine Best Rate Mortgage Vancouver Canada http://vancouverbestmortgage.wordpress.com/2008/03/17/qualifying-2-debt-service-ratio-tds-and-gds/#comment-137 CMHC - Self-Employment (BFS) Policy Change « Christine Best Rate Mortgage Vancouver Canada Tue, 07 Apr 2009 19:55:37 +0000 http://vancouverbestmortgage.wordpress.com/2008/03/17/qualifying-2-debt-service-ratio-tds-and-gds/#comment-137 [...] CMHC - Self-Employment (BFS) Policy Change Posted on April 7, 2009 by 1dayapproval CMHC will no longer accept  applicants under their Self Employed program who own and incorporate a company.   Will still however do “sole proprietor”  under  that program.   If applicant is incorporated they will now have to fully qualify. [...] [...] CMHC – Self-Employment (BFS) Policy Change Posted on April 7, 2009 by 1dayapproval CMHC will no longer accept  applicants under their Self Employed program who own and incorporate a company.   Will still however do “sole proprietor”  under  that program.   If applicant is incorporated they will now have to fully qualify. [...]

]]> Comment on What is High Ratio Mortgage? by Alternative Lending Sources « Christine Best Rate Mortgage Vancouver Canada http://vancouverbestmortgage.wordpress.com/2008/05/07/what-is-high-ratio-mortgage/#comment-136 Alternative Lending Sources « Christine Best Rate Mortgage Vancouver Canada Tue, 07 Apr 2009 19:53:43 +0000 http://vancouverbestmortgage.wordpress.com/2008/05/07/what-is-high-ratio-mortgage/#comment-136 [...] days in your bank account), chances are you will be turned down, especially if you are borrowing at high ratio. The solution to you is to go for an alternative programs offered by either GE, Cove, or Excaliper. [...] [...] days in your bank account), chances are you will be turned down, especially if you are borrowing at high ratio. The solution to you is to go for an alternative programs offered by either GE, Cove, or Excaliper. [...]

]]> Comment on Lender Product Updates and Changes for February, 2009 by 1dayapproval http://vancouverbestmortgage.wordpress.com/2009/03/04/lender-product-updates-and-changes-for-february-2009/#comment-135 1dayapproval Thu, 19 Mar 2009 19:59:52 +0000 http://vancouverbestmortgage.wordpress.com/?p=328#comment-135 Sliding scale means if when the loan amount is higher than a certain amount, the lender will take a percentage of the remaining amount to a certain % of the value of the house to calculate the maximum loan. <strong> For example, if you have $2M property value, TD’s sliding scale is:</strong> 80% of the first $750K And 50% of the balance. $750K x 80% => $600K $2M - $750K = $1.25M x 50% = $625K Thus, maximum loan amount is capped at $1.225M If you have further questions, don’t hesitate to contact us anytime. We have access to all lenders across Canada and Canadian special mortgage programs in residential, commercial, as well as equity and private money. Sliding scale means if when the loan amount is higher than a certain amount, the lender will take a percentage of the remaining amount to a certain % of the value of the house to calculate the maximum loan.

For example, if you have $2M property value, TD’s sliding scale is:
80% of the first $750K
And 50% of the balance.

$750K x 80% => $600K
$2M – $750K = $1.25M x 50% = $625K
Thus, maximum loan amount is capped at $1.225M

If you have further questions, don’t hesitate to contact us anytime.
We have access to all lenders across Canada and Canadian special mortgage programs in residential, commercial, as well as equity and private money.

]]> Comment on Lender Product Updates and Changes for February, 2009 by David http://vancouverbestmortgage.wordpress.com/2009/03/04/lender-product-updates-and-changes-for-february-2009/#comment-134 David Thu, 19 Mar 2009 19:13:03 +0000 http://vancouverbestmortgage.wordpress.com/?p=328#comment-134 What do you mean by sliding scale? What do you mean by sliding scale?

]]> Comment on Who Qualifies for First Time Home Buyer Exemptions by January 27, 2009 Federal Budget Highlights « RE News Canada - Real Estate News Source http://vancouverbestmortgage.wordpress.com/2008/05/08/who-qualifies-for-first-time-home-buyer-exemptions/#comment-120 January 27, 2009 Federal Budget Highlights « RE News Canada - Real Estate News Source Wed, 28 Jan 2009 19:04:38 +0000 http://vancouverbestmortgage.wordpress.com/2008/05/08/who-qualifies-for-first-time-home-buyer-exemptions/#comment-120 [...] First-time home buyers who acquire a qualifying home after January 27, 2009 may be entitled to claim a new non-refundable tax credit of $5,000 and worth up to $750 ($5,000 × 15%). To qualify, neither the individual nor his or her spouse or common-law partner can have owned and lived in another home in the calendar year of the new home purchase or in any of the four preceding calendar years. The credit can be claimed by either the purchaser or by his or her spouse or common-law partner. < First Time Home Buyer eligibility> [...] [...] First-time home buyers who acquire a qualifying home after January 27, 2009 may be entitled to claim a new non-refundable tax credit of $5,000 and worth up to $750 ($5,000 × 15%). To qualify, neither the individual nor his or her spouse or common-law partner can have owned and lived in another home in the calendar year of the new home purchase or in any of the four preceding calendar years. The credit can be claimed by either the purchaser or by his or her spouse or common-law partner. < First Time Home Buyer eligibility> [...]

]]> Comment on 100% Financing – Purchase or Refinance by 2nd Mortgage Refinance up to 100% LTV « Christine Best Rate Mortgage Vancouver Canada http://vancouverbestmortgage.wordpress.com/2009/01/07/100-financing-purchase-or-refinance/#comment-119 2nd Mortgage Refinance up to 100% LTV « Christine Best Rate Mortgage Vancouver Canada Fri, 23 Jan 2009 07:12:00 +0000 http://vancouverbestmortgage.wordpress.com/?p=238#comment-119 [...] 2nd Mortgage Refinance up to 100% LTV Posted on September 14, 2008 by 1dayapproval *** This Strategy Is No Longer Available Since Citi Financial Pulled Out *** As of Oct 15th, 2008, if you have been following the mortgage news, there will be no more “zero” down payment insured by CMHC, AIG, or Genworth. Although not many people know that they can purchase property with 0%, it is still a big change. For 100% refinancing,  please refer this new product here. [...] [...] 2nd Mortgage Refinance up to 100% LTV Posted on September 14, 2008 by 1dayapproval *** This Strategy Is No Longer Available Since Citi Financial Pulled Out *** As of Oct 15th, 2008, if you have been following the mortgage news, there will be no more “zero” down payment insured by CMHC, AIG, or Genworth. Although not many people know that they can purchase property with 0%, it is still a big change. For 100% refinancing,  please refer this new product here. [...]

]]> Comment on Bank of Canada – Another 0.75% Cut (Prime Now at 3.25%) by Bank of Canada Rate Cut by 0.50% (Now at 2.75%) « Christine Best Rate Mortgage Vancouver Canada http://vancouverbestmortgage.wordpress.com/2008/12/09/bank-of-canada-another-075-cut-prime-now-at-325/#comment-118 Bank of Canada Rate Cut by 0.50% (Now at 2.75%) « Christine Best Rate Mortgage Vancouver Canada Wed, 21 Jan 2009 08:23:23 +0000 http://vancouverbestmortgage.wordpress.com/2008/12/09/bank-of-canada-another-075-cut-prime-now-at-325/#comment-118 [...] Jan 20th, 2009, Bank of Canada announced yet another rate cut by 0.50% from 3.25% to 2.75%. The previous rate cut was last year December [...] [...] Jan 20th, 2009, Bank of Canada announced yet another rate cut by 0.50% from 3.25% to 2.75%. The previous rate cut was last year December [...]

]]> Comment on Qualifying 2. Debt Service Ratio (TDS and GDS) by 100% Financing - Purchase or Refinance « Christine Best Rate Mortgage Vancouver Canada http://vancouverbestmortgage.wordpress.com/2008/03/17/qualifying-2-debt-service-ratio-tds-and-gds/#comment-116 100% Financing - Purchase or Refinance « Christine Best Rate Mortgage Vancouver Canada Wed, 07 Jan 2009 19:54:48 +0000 http://vancouverbestmortgage.wordpress.com/2008/03/17/qualifying-2-debt-service-ratio-tds-and-gds/#comment-116 [...] As long as the applicant has credit score of 640 or higher, with minimum 3 tradelines and 1 with 36 months history, he/she can qualify for the 100% financing or 100% refiannce if he/she can debt service. [...] [...] As long as the applicant has credit score of 640 or higher, with minimum 3 tradelines and 1 with 36 months history, he/she can qualify for the 100% financing or 100% refiannce if he/she can debt service. [...]

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