At first glance, I would say “decent” at best. At second glance, I’d actually say it is vastly underwhelming. The feds have announced 2 main policies around home ownership:Read More
Read about the latest news, predictions and stats regarding the BC Housing Market. Learn more about trends in the Resale Market, employment and interest rates!Read More
In general, being self-employed can mean running your own business, work as a freelancer or on commission, have a professional career, run your own farm or any other such entrepreneurial vocations. With an increasing number of self-employed individuals, lenders are still figuring out how to make it easier for them to obtain a mortgage and get the best interest rates.Read More
There are some good reasons why you want to refinance the mortgage on your new home. Perhaps you want to save more on your monthly expenditures and want a lower rate on your mortgage, or perhaps you want to pay off your mortgage quicker and want to change to shorter term, or maybe the you agreed to a bad mortgage loan and now you want to acquire better terms. Refinancing is the way to go if you have any of these issues in your existing mortgage.Read More
Moving from one lender to another can be a matter of savings, better terms and conditions, service and sometimes an even better mortgage experience. This is an opportunity for you to look back on your monthly mortgage payment and see if it still fits in with your lifestyle and financial situation for now and the estimated term of the next mortgage.Read More
What are private mortgages? Why do we as mortgage brokers provide you an option to pick Private Mortgage Investing? Private Mortgage Investing or Private Money Lending refers to a private individual providing a loan to another with real estate as collateral. Private mortgages are generally short termed and are interest only loans that can range in length, anywhere between 1 year to 3 years. These kinds of ‘interest only loans’ do not usually require homeowners to pay any principal on their mortgage down, but instead require interest payments each month.Read More
As much as we here at Oceanvale Mortgage and Finance wish we could change the current guidelines for prepayment penalties charged to our clients for an early exit from a mortgage, it looks like we are stuck with them for now.
As most of us know, once you sign a contract it can be tough to get out, as long as it is a legal one, and breaking contracts usually come with steep costs and fees. Recently, the way that lenders protect themselves through penalties for exiting a contract early has become under attack from disgruntled borrowers...Read More