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Buying a Home in the Summer

Buying a Home this Summer?

Buying a Home in the Summer

Summer is coming. While most people have visions of overdue vacations dancing in their heads, you’ve got something even bigger in mind – your very first mortgage. However, given the significance of such a major life decision, you’re wondering if you should take the leap at this time of the year. After all. the season is supposed to be filled with whimsical pleasure, not negotiations with lenders, sellers, and agents. Well, if you find this article at the midpoint of 2022 and you’re shopping for a home in the BC Southern Interior, buying a home in the summer is exactly what you should do. Here’s why.

4 Reasons Why New Buyers Should Get a Mortgage this Summer Season of 2022

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Penticton Real Estate News | May 2022

Penticton Real Estate News | May 2022

There’s just one month left in the spring season. Given that buyers prefer to move into their new home in the summer, now is the perfect time to get a mortgage. If you’re among this lot, you’re invested in the process and researching everything you need to know before contacting a mortgage broker. We’ve got you covered. Below is a breakdown of recent real estate news that current and prospective buyers in Penticton BC will be excited to learn.

Real Estate Updates for Penticton and the Surrounding Area that New Buyers Want to Know About

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Mortgage for Pilots

Mortgage for Pilots and Airline Staff

Mortgage for Pilots Airline Staff Penticton Kelowna BC

The Penticton Airport is home to two flight training schools that offer programs for both fixed wing and helicopter students. Kelowna boasts the Southern Interior Flight Centre’s Pilot License and Rating Programs, while in the same area is the Okanagan College Commercial Aviation program. Meanwhile, between Penticton Airport (YYF) and Kelowna International Airport (YLW) there are approximately 65 daily non-stop commercial flights with seven airlines.

The point here, is that a disproportionately large number of pilots are trained in the Okanagan Valley, and return often as established aviators. In having vast experience with the BC Southern Interior (the best place to get a mortgage in BC) pilots are looking to invest in a home in the area. Even if not one’s primary residence it makes sense to have it for those extended layovers in this neck of the province, and then leverage it on the short term rental (STR) market for when not occupied. It will also provide the ultimate retirement property for them the time comes to hang up those wings. In fact, the same is also true for airline staff who have fallen in love with the Okanagan.

Logically, the next step is to connect to a mortgage broker. You’ve landed in the right place. Let’s review.

Why Pilots and Airline Staff Choose Carloni Mortgage Brokers When Buying a Home in the BC Southern Interior

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Mortgage for Physicians

Mortgage for Physicians

Mortgage for Physicians Penticton BC

Last month, we took a look a mortgage options for healthcare workers but due to demand from those who hold a Medical Degree (MD) we’re diving deeper into the needs of physicians. Doctors are flocking to the BC Southern Interior in droves to fill much needed positions in local area hospitals and to establish private clinics. As a result, they (and you) are on the hunt for a home. There are approximately 14,000 physicians in BC and there is slated to be a disproportionate percentage in the Okanagan Valley which makes the home-buying process more competitive. While this is an exciting time in your personal and professional life, you could use a helping hand handling the mortgage process. That’s what Carloni Mortgage Brokers is here for. Let’s review.

Why Physicians and Medical Practitioners Choose Carloni Mortgage Brokers When Buying a Home in the BC Southern Interior

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Bank of Canada Announcement (April 2022)

Penticton Mortgage Rates Update – April 2022

Penticton Mortgage Rates Update - April 2022

In last month’s Penticton mortgage rates update we detailed the recent (at the time) Bank of Canada announcement regarding the Policy rate. In March they increased the rate from .25% to .5%. We predicted that the Bank would once again raise the cost of borrowing incrementally through the months ahead, with another projected this very month (April). This morning (April 13) they did just that, with a move that the Financial Post and others are calling a super-sized rate hike. Is mainstream media being dramatic? More importantly, should new buyers reconsider getting a mortgage through the remainder of the spring and summer of 2022? Let’s review.

What Buyers Really Need to Know About the April 2022 Bank of Canada Policy Rate Hike

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Mortgage for Healthcare Workers

Mortgage Broker for Healthcare Workers

Mortgage for Healthcare Workers and Nurses in BC

We recently covered mortgages for first-responders, but this week we want to dive deeper into the concept with a look at healthcare workers in BC. After an unimaginable couple of years, you’re overdue for a reward – and a return to focus on yourselves for once. As a big part of your goals for the year/s ahead, you have made homeownership a top priority. Congratulations on your decision to take this important step! That said, given the nuances of buying a home in BC you could use some help. That’s what we’re here for. Carloni Mortgage Brokers in Penticton BC has pledged to assist the province’s treasured healthcare workers in getting a favorable mortgage in the Okanagan Valley. Here is why you should reach out to us today.

Why Healthcare Workers in the BC Southern Interior Turn to Carloni Mortgage Brokers to Get Help Buying a Home

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Penticton Real Estate News | Spring 2022

Penticton Real Estate News | Spring 2022

Penticton Real Estate News

Spring Break 2022 is in the books, and for many households in the BC Southern Interior it’s time to get back to #lifegoals, with homeownership being one of them. Traditionally, the season is prime for real estate, offering buyers enough time to get pre-approved on a mortgage, find their dream property, and move-in in time to enjoy the summer in the best place in BC. But does this spring in particular represent a good time to buy a home in Penticton and in the Southern Okanagan Valley? Let’s have a look at current real estate news to find out.

Recent Real Estate Updates for Penticton and the Surrounding Area that New Buyers Need to Know About

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Mortgage for a Condo

With a white hot real estate market in the BC Southern Interior, the values of single detached family homes have priced some people out of the market. As a result, buyers and investors are shifting attention to condominiums, especially in the Penticton area where there is an exquisite balance of desirable inventory and affordability. The average price for a condo in the resort community of the South Okanagan is less than $390,000. Compare that to Central Okanagan at $516,000 or for a laugh – Greater Vancouver where prices have increased 16% year-over-year to $808,000. Again, a mortgage for a condo in Penticton starts to make a lot of sense, in one’s dreams and on paper. Below is a breakdown of a few key things to consider before proceeding with your pre-approval.

What You Need to Know About Getting a Mortgage on a Condominium in the BC Southern Interior

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Bank of Canada Announcement (March 2022)

Penticton Mortgage Rates Update – March 2022

Penticton Mortgage Rates Update March 2022

Remember in our most recent Penticton real estate news update, when we encouraged buyers to act quickly before market forces increased the cost of buying a home? We named high demand for BC Southern Interior properties and a subsequently tightening inventory as key drivers of more costly mortgages. The other? The Bank and Canada’s overnight rate. We predicted that the Bank would raise the borrowing rate in 2022, and that prediction came true on March 2 when they made their scheduled announcement. The rate moved from .25% to .5%. But before you come into our Main Street office to smash our crystal ball, we want you to pause for just a second to put the news in perspective. Please keep reading.

What Buyers Really Need to Know About the March 2022 Bank of Canada Increase in the Prime Interest Rate

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How to Book a Mortgage Appointment

How to Book a Mortgage Appointment

You’ve been following Penticton BC real estate news closely over the last few months. You’ve also been paying attention to Bank of Canada announcements regarding the prime rate and bond market activity, and how they impact mortgage rates. Subsequently, you’ve come to the conclusion that now is the perfect time to buy a home. This is a very sound assessment, because if you wait much longer the prices of Okanagan homes will rise further as inventory tightens. That, and the Bank of Canada will inevitably raise the prime rate after holding it steady for two years. Given that you’ve also done your homework about the necessity of working with a mortgage broker as a first time buyer, you’re ready to take the next step – booking an appointment. Is doing so as simple as calling or filling out a contact form, or are there other things to consider before tapping “Call” or “Send”? Let’s review.

3 Important Questions to Ask Yourself Before Booking an Appointment with a Mortgage Broker

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