• Private Mortgages

    Author: Boychuk Mortgage Group |

    Articles

    Private mortgages are a great option for anyone that falls outside the traditional lending guidelines, or for anyone that needs a quick close on their property.

    They differ from conventional mortgages as they tend to be shorter terms, with higher interest rates, and often with additional fees.

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  • Navigating Mortgage Lenders

    Author: Boychuk Mortgage Group | | Categories: Mortgage , Mortgage Broker

    Articles

    Purchasing a home is a significant financial decision, and the mortgage process can be overwhelming. Choosing the right lender and mortgage product can have a significant impact on your financial future. With various mortgage lenders and products available in the market, navigating the mortgage process can be a daunting task. That's where an independent mortgage advisor comes in - to help you make informed decisions and guide you through the mortgage process.

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  • Buying vs Renting

    Author: Boychuk Mortgage Group | | Categories: Mortgage , Mortgage Broker

    Articles

    Are you currently contemplating whether to buy or rent a property? This decision can be a daunting task, especially when you consider the various factors that come into play. Owning a home comes with a sense of pride and accomplishment, but it also requires a significant investment. On the other hand, renting offers flexibility and requires fewer upfront costs, but it comes with its limitations. In this blog post, we will be discussing the pros and cons of buying and renting to help you make an informed decision.

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  • Early Mortgage Renewal Guide

    Author: Boychuk Mortgage Group | | Categories: Mortgage , Mortgage Broker

    Articles

    Mortgage renewals can be a stress-inducing process, but with a bit of planning and strategy, you can save thousands of dollars. Here's a guide to help you make an informed decision when renewing your mortgage.

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  • 2024 Real Estate Outlook

    Author: Boychuk Mortgage Group | | Categories: Mortgage , Mortgage Broker

    Articles

    As we enter the new year, it's essential to understand the potential game-changers for BC real estate in 2024. Despite the ever-changing landscape, we can still make some predictions to navigate the uncertainty. This blog will cut through the noise and delve into some of the most critical factors affecting BC real estate in 2024.

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  • Porting Your Mortgage

    Author: Boychuk Mortgage Group |

    Articles

    What to know about porting a mortgage & why this is a smart financial move right now…

    • Porting your mortgage involves moving your current mortgage over to a new property.
    • It’s likely that your current interest rate on your home is lower than what is available today, so this is a great way to save.

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  • Bank of Canada Update: No change to the policy interest rate

    Author: Boychuk Mortgage Group |

    Articles

    Well some good news! The Bank of Canada has decided to pause rate hikes. This is following a reported decline to GDP, core inflation lowering slightly, and increasing unemployment rates, suggesting a softening economy. This is good news for variable rate mortgage holders, and anyone with lines of credit.

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  • Gross Domestic Product

    Author: Boychuk Mortgage Group |

    Articles

    GDP in simple terms is the total value of goods and services produced in a specific time frame. It is the main measure used to evaluate how healthy our economy is.

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  • Unemployment raise rise for the 3rd consecutive month

    Author: Boychuk Mortgage Group |

    Articles

    With another Bank of Canada rate announcement scheduled for the first week of September, it’s important to understand some of the other factors besides inflationary tracking that influences the decision to raise, lower, or hold interest rates.

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  • Pros & Cons of Extending Your Amortization

    Author: Boychuk Mortgage Group |

    Articles

    Because interest rates have risen rapidly over the past year, if you are up for renewal you may have heard of people choosing to extend their mortgage amortization period to 30 years.

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  • Inflation Update

    Author: Boychuk Mortgage Group |

    Articles

    Inflationary numbers came in higher for July at 3.3% than the previous months report of 2.8%.

    We saw the most significant increases to energy categories with electricity coming in 11.7% higher than a year ago. We also saw very minimal changes to gasoline prices. Likewise, mortgage interest costs and accommodation continues to lead inflationary increases.

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  • What types of additional income can I use to help qualify?

    Author: Boychuk Mortgage Group |

    Articles

    When purchasing or refinancing in a market with higher interest rates, you may find it more challenging to qualify for the amount you originally had planned for. However, there are many lenders out there that will consider a variety of different income sources other than your employment income.

    Here is a quick reminder of the different types of income you can use:

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  • Inflation Update: Canadian inflation drops down to 3.4% for May

    Author: Boychuk Mortgage Group |

    Articles

    Canadian inflation has slowed to 3.4% from the April’s previous report of 4.4%. This is the lowest inflation has been in almost two years. However, much of this decrease can be attributed to fuel and energy costs being significantly lower than this time last year when we saw a spike in energy prices resulting from the Ukraine/ Russian war. Mortgage interest costs also continue to heavily influence inflation with an increase of 29.9% over the last year. We continued to see increases to categories including restaurant food, while grocery prices have remained elevated with no sign of any notable changes from April. Although this…

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  • Do's & Don'ts during the home buying process

    Author: Boychuk Mortgage Group |

    Articles

    Just a reminder if you are pre-approved or thinking about starting that house hunting journey. 🙂

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  • What you should know about applying for a mortgage on a strata property

    Author: Boychuk Mortgage Group |

    Articles

    It’s recommended that your offer should be subject to viewing various strata documents

    A form B will be required by your lender from the last 30 days. This form confirms the current state of the strata including any outstanding levies or special assessments as well as how much money is in the contingency fund.

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  • Inflation Drops to 4.3%

    Author: Boychuk Mortgage Group |

    Articles

    More good news! ⭐️

    Inflationary numbers for March came in at 4.3%. This is down from the 5.2% we saw the month prior.

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  • Multi Generational Home Tax Credit

    Author: Boychuk Mortgage Group |

    Articles

    The government of Canada has introduced a Multi-Generational Home Tax Credit

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  • Inflation numbers decrease again, down to 5.2%

    Author: Boychuk Mortgage Group |

    Articles

    ✨Inflation drops again, down to 5.2%✨

    Inflation numbers fell from 5.9% in January to 5.2% in February, below the target prediction of 5.4% for this past month.

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  • 4 Ways to Make Money in real estate

    Author: Boychuk Mortgage Group |

    Articles

    Earning monthly cashflow is an important component of qualifying if your goal is to purchase more than one investment property or a primary residence in the future.

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  • Down Payment Differences

    Author: Boychuk Mortgage Group |

    Articles

    Getting in the market is key, however putting more money down allows for more options when it comes to extending your amortization to lower your monthly payment, utilizing different sources of income, customizing options if you are self-employed, and accessing Home Equity Line of Credit programs.

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