There are generally TWO ways to avoid paying Property Transfer Tax in BC As a First Time Home Buyer, purchasing a resale home under $500,000 Purchasing a pre-build home under $750,000 Partial rebates As a First Time Home Buyer, purchasing a resale home between $500,001 - $525,000 Purchasing a pre-build home between $750,001 - $800,000

If you are using rental income based off that investment property to qualify your application and immediately rent out that property, then yes you would require 20% down. However, there is a way to put only 5% down. While there is no time restraint at which you can move into the home and then eventually move out and rent the property, simply purchasing the property with the intention of moving in, you can qualify with as little as 5% in certain circumstances

Yes! You can buy a property with as little as 5% down, as long as it is Owner Occupied OR Second Home **Must be under 1 Mil

No Subject to qualifying, anyone can qualify at 5% down Property must be an owner occupied or a 2nd home

Purchase over 1Mil. 30-year amortization. Refinancing. Rentals. B Financing. Private Financing (25%).

Consider consolidating that high interest debt into your mortgage. For every $350 in monthly debt payments, you can access $100,000 in mortgage financing PLUS save interest

Equity is the difference between your homes current value and your remaining mortgage balance Value - Mortgage = Equity Lenders will allow you to access up to 80% of that built up equity in your home How To Increase Your Equity? Home Appreciation Home Appreciation Sweat Equity

Technically Yes… However, there is a way to put only 5% down By turning your current property into a rental, you can buy your next home with as little as 5% down

Yes There will be variables like your length of time in the industry, probation timeline, credit, income, & down payment

Let’s take a $500,000 home with the minimum 5% down ($25,000) After subtracting loan insurance of $19,000, your home will appreciate a very modest $52,000 & have a balance of $414,000 after only 5 years That’s a total of $139,000 in YOUR POCKET Know your options - time in the market often sees a faster return than waiting & saving

No A deposit is made by the buyer at the time of purchase to secure the property. That deposit is typically 5% & is held in your realtor’s trust account. This deposit will then go towards your total down payment at closing

Home Inspection Appraisal Fee Legal Fee’s Property Transfer Tax Title Insurance Tax Adjustments Deposit

This rule was implemented as the new anti-money laundering act in 2018 It implies that all banks will require proof of down payment via a 90-day bank statement history on any purchase This means all transactions will be reviewed

This program allows all home buyers to pull up to $35,000 TAX FREE from their RRSP to use towards a down payment on a home You will have up to 15 years to pay back the loan tax free

HOUSE HACKING – Meaning you live in one part of the home while renting out the rest of the space BENEFITS Can use the rental income to qualify If done right, your rental income may offset your mortgage payment Eliminates strata fee’s & increases your ability to borrow Remember a $350 monthly debt today equates to about $100,000 in borrowing power!

In today’s market, $350 in monthly debt payments will equate to a loss of about $100,000 on your mortgage Example: $25,000 car loan $750 monthly payments By consolidating this into your mortgage, that’s a savings of $75,000 & $400 in monthly payments

Step 1 - Buy a home with 5% down (this can be as little as $15k - $20k) Step 2 - Eventually, convert that property to a rental Step 3 - Purchase your next home, again with as little as 5% down Rinse & Repeat **You can even use the rental income to help qualify**

Two main methods Accelerated Bi-Weekly Payments This will turn your 25-year mortgage into 21-years Pre-Payment Privileges This option allows you to pay a specified amount towards your mortgage each year without penalty. Usually 15% - 20% of the mortgage balance Also, consider the Sweet 16 Method - Increase your mortgage payment by 5% year over year (x 1.05) & you’ll be mortgage FREE in 16 years instead of 25

Mortgage Pay Down - Think renters making those principal payments for you Appreciation - The Value in your home going up over time Cash Flow – Cash Flow is KING - That’s making income on your investment after expenses Sweat Equity – Adding value through renovations

On average, the typical increase in payment, (given rates id rise), is about $12 - $13 for every $100 borrowed So, if your mortgage is in the $400,000 range, you should only see your payment fluctuate by about $48. Also remember, that variable mortgages offer more flexibility, cheaper penalties, & allow you to switch to a fixed product should you decide