Unusual Property Zoning? Let Us Help!
With real estate prices soaring in British Columbia and across Canada, clients are exploring alternative real estate opportunities for homes or businesses. With a team of over 60 brokers in our Xeva Mortgage network, we have the expertise to find the right mortgage solution even for properties with unique zoning. Zoning Opportunities We’ve Successfully Assisted […]
New Mortgage Options: Second, Alternative, and Commercial Mortgages
I’m excited to share that I now offer second mortgages, alternative mortgages, and commercial mortgages tailored for the self-employed through Paul Hudson Mortgage Wealth’s Xeva Channel. Let’s dive into what these mortgages entail and how they might benefit you. Mortgage Options Explained Second Mortgages A second mortgage lets you borrow against your home’s equity without […]
How to Pay Less Interest When Mortgage Rates Are High!
In the words of Ralph Waldo Emerson, ‘Money often costs too much,’ and these words ring especially true in the current interest rate market. However, it doesn’t have to be this way. While interest rates play an important role in determining how much your borrowing will cost you, there are ways to work the mortgage system […]
Bank of Canada Unchanged Prime Rate: How it Impacts You
Considering the Bank of Canada’s recent decision to maintain the prime rate unchanged, how might this affect your plans
Exploring Mortgage Options for Presale Homes
If you’re considering purchasing a property as a presale in a new development, there are several factors to consider, especially regarding mortgage financing options unique for this type of property purchase: Early Approval Obtaining an unconditional approval 2 to 3 years prior to the presale closing date is crucial (although this is strongly recommended, it […]
Mortgage Term in 2024: Three, Five-Year Fixed, or Variable?
As we step into 2024, whether you are gearing up for a new home purchase or renewing your mortgage, the question of interest rates is likely top of mind. To help you make an informed decision, let’s explore three popular options currently in the market: Three-Year Fixed Rate: The three-year fixed rate has gained popularity […]
Why Variable Rates are Back in Fashion, for Some
The latter half of 2023 delivered a surprise to our office as we started receiving more requests for variable rate mortgages. 2023 was a year of concern, with rates increasing at such a rapid pace, and most who had variable rate mortgages decided to stay the course after weighing their options. The reasons many are […]
How To Reduce Mortgage, Loan, and Monthly Costs
With the cost of living noticeably increasing over the past year, Canadians are looking for ways to lower their monthly expenses, especially when these expenses have increased at a faster rate than monthly wages. From contacting various service providers to cancel underutilized services to renegotiating monthly fees or services, Canadians are looking to be more […]
Renewing Your Mortgage Without Salaried Income? Solution Here.
When it comes to mortgage approval for your mortgage renewal, income verification is often required when you’re shopping for an interest rate. As rates increase, not everyone qualifies for a mortgage the way they did in the past four years. Fortunately, there are many programs that can still help you qualify for your mortgage renewal […]
Alternate Ways to Qualify for a Mortgage
Have your circumstances around income changed in the past two years, or are you contemplating the purchase of an additional property? Were you aware that there are unconventional methods to acquire property? Some of these include: Rental Offsets: In cases where a portion or the entirety of your property is intended to be rented out. […]