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Blog by Linda M Linfoot

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BC Assessment Appeals Reminder

January 9th, 2013
B.C. Assessment Appeals Reminder   The B.C. Assessment Authority has now completed its 2012 Assessment Roll for all properties in British Columbia.  Individual Tax Notices have also been mailed out to individual home owners.   The deadline to file an appeal with BC Assessment is January 31, 2013.
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Posted in General

Stated Income - Does Rate really matter?

December 14th, 2012
Why is the Self Employed Borrower fixated on Rate?    Let's face it, everyone wants the lowest rate possible for their mortgage.  However, is the lowest rate always worthwhile?  Let's take a look at an example:  Bob Smith is a Business owner in Vancouver.  He has a modest business that is experiencing growth year after year.  Bob enjoys the many perks of being a business owner, esp ...
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Posted in Mortgage Information

Rent to Own

December 5th, 2012
Dreaming Of Owning Your Home And Tired of Wasting Money On Rent?  Many of us dream of home ownership as a status of adulthood or achievement.  However, in combination of the 2008 global recession and ever-changing mortgage lending policies, qualifying for financing seems to be harder than ever. Goda Properties offers a way to make that transformation less painful by bridging the gap betw ...
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Posted in General

Bank of Canada Annoucement

October 23rd, 2012
Bank of Canada's announcement - The Prime Lending Rate remains at 3.00% as of today. http://www.bankofcanada.ca/2012/10/press-releases/fad-press-release-2012-10-23/
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Posted in Mortgage Information

Vendor Take Back Mortgage

September 25th, 2012
What exactly is a Vendor Take-Back (VTB)?   This is when a seller offers to lend the buyer funds in order to help facilitate the purchase of the property.  The VTB is a legally binding agreement that will represent a secondary lien on the property. The term, rate, payments and fees are all negotiated by the Seller and the Buyer (with help from their  real estate agents and lawyers of c ...
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Posted in Mortgage Information

As YOUR Broker...

August 28th, 2012
As your Broker I am able to help you when the banks can’t No more 'BANK' Competition! I know the 'nonprime' solutions that are available, I am the true mortgage expert when the bank says no. As your broker - I am creative! I structure the deal with a true common sense approach. I know what it means to use a Vendor Take Back to save the deal, or perhaps an inter-alia mortgage whe ...
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Posted in Mortgage Information

Bank of Canada

July 24th, 2012
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Posted in Mortgage Information

Tighter Guidelines for Qualifying

June 28th, 2012
Tighter guidelines for qualifying:  Canada's mortgage insurance rules.  Four measures were announced: 1. Amortizations reduced to 25 years 2. Refinancing limited to 80% 3. Properties purchased at over $1 million no longer eligible for mortgage insurance 4. GDS and TDS set at 39% and 44%        CAAMP believes that Canadians understand the importance of paying down their mortgages ...
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Posted in Mortgage Information

Bank of Canada Annoucement

June 5th, 2012
Ottawa, Ontario - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The outlook for global economic growth has weakened in recent weeks. Some of the risks around the European crisis are materializing and risks remain skewed to the downside ...
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Posted in Mortgage Information

Is There ever a Bad Time to Invest in a Rental Property?

May 23rd, 2012
Is there ever a bad time to invest in a rental property? Fabio Campanella, Special to Financial Post  May 22, 2012 – 10:48 AM ET   Record low interest rates coupled with an overly extended bull market for Canadian residential real estate has some investors questioning the validity of investing in a rental property. Current economic indicators support these fears: mortgage rates sched ...
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Posted in General

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