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Black Friday Mortgage Deals

Black Friday Mortgage Deals and Rates 2022

Black Friday Mortgage Deals Rates 2022

Last year, 54 percent of Canadians participated in Black Friday promotions, which was up from 31 percent from the year before. That number is expected to be higher for 2022 as more of us are hopping on the USA’s annual shopping bandwagon. Most people are looking to score door-busters on fashions, electronics, and even vehicles. However, a number of BC Southern Interior households are wondering if there will be any Black Friday mortgage deals and rates on tap for this coming November 25th? There most certainly will be, even if in a roundabout way. What do we mean? Let’s find out!

How BC Southern Interior Home Buyers Can Score a Deal on Mortgage Rates this Black Friday of 2022

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Is Penticton Real Estate a Good Investment?

Is Penticton Real Estate a Good Investment?

There’s no denying that our neck of the Okanagan Valley is the best place to get a mortgage in BC from a quality of life perspective. For that reason alone households buy their dream home in our quintessential resort community. However, a number of you are on the hunt for a pure investment. You’re not as dazzled by the beautiful lakes, friendly faces, and four season livability factors. Instead, you’re primarily interested in investment prospects. Is Penticton really as idyllic as you’ve heard when it comes real estate investing? Absolutely. Below is a succinct breakdown of what you need to know.

3 Reasons Why Penticton Real Estate is One of the Smartest Investments You Can Make in 2023 and Beyond

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How to Get Help with the Mortgage Stress Test in 2022-23

How to do Mortgage Stress Test Penticton BC

Is it really that complicated?

You’ve been following Penticton area real estate news and have come to the conclusion that you can no longer afford to sit on the fence over buying your first home. Mortgage rates are rising with each passing Bank of Canada announcement, so by waiting you’ll only pay more to own one. That said, you’re nervous about reports regarding Canada’s mortgage stress test. Further, you’re not sure what it even is. Collectively this has made you uncertain about getting approved for a mortgage, even though you know you must get the ball rolling by doing the test right away. It’s either that or you’ll have to throw in with your folks (or other family member) to get approved – not exactly the path you wanted to take.

You’ve come to the right place. 

Instead of providing a standard DIY guide for how to do a mortgage stress test, we’re going to help you get it done. But first, here a practical look at exactly what Okanagan BC buyers need to know about passing the mortgage stress test for 2022-23.

What New Buyers in the Okanagan Need to Know About the 2022-23 Mortgage Stress Test and Where to Get Help to Pass It

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Should I Use Home Equity to Remodel?

You have been thinking about remodeling your home. However, you don’t currently have the disposable funds to do so without feeling a serious financial pinch in your day to day life. After doing some research (and asking around) you’ve realized that existing equity in your property can be the solution you need. That said, debt is debt, so you’re asking yourself, “Should I use home equity to remodel?”. Here’s what you should consider.

5 Things to Consider When Deciding Whether or Not to Leverage Equity in Your House to Renovate and Remodel

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Mortgage for Million Dollar Home

Getting a Mortgage for Million Dollar Home in the Okanagan

Mortgage for Million Dollar Home Penticton Okanagan Valley

Remember when a million dollars in the bank meant you could retire at an early age and live off of the interest? Us neither. Ask your parents. What was once touted as a lottery windfall has now been tempered by inflation. But in theoretical way that’s good news, seeing as you want to get a mortgage for a million dollar home. When you look at it that way, it’s far more attainable than it ever was. At press, the average price of a single family home in the Okanagan is now around $1,000,000 anyways. Still, you want to know what this all means as a new buyer who wants to buy a house in that price range. Let’s review.

What New Buyers Need to Know About Buying an Okanagan Home in the $1,000,000 Price Range

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How Old is Too Old to Buy a House

How Old is Too Old to Buy a House?

How Old is Too Old to Buy a House Penticton Kelowna BC

Were you not able to afford a home in your 20s, 30s, 40s, even 50s? Or did homeownership simply not suit your carefree lifestyle? Or did your profession have you bouncing around the country, continent, or world without a place to lay your proverbial hat? Whatever the case may be, you now find yourself ready to invest. But there’s a nagging question hanging overhead. How old is too old to buy a house? There’s no such thing. Although, that probably doesn’t adequately answer your query. Below is everything you need to know about entering the Okanagan area real estate in your “advanced” years.

6 Things You Need to Know When Interested in Buying a Home Later in Life

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How Young is too Young to Buy a House?

How Young is too Young to Buy a House?

How Young is too Young to Buy a House

The world is a lot different than it was in your parents’ time. Young adults are more empowered than ever before, leading the charge in a number of industries (media and tech, etc.) and starting new businesses at a rapid rate. While you may be doing groundbreaking things in your professional life, you’re a little uneasy about what to do with the wealth and equity you’ve accumulated thus far. One takeaway from the generations’ past – is that there is nary a better investment than real estate. And the sooner you get into the market, the better. But alas you’re nagged by one question – how young is too young to buy a house? Here’s everything you need to know about breaking the age barrier in Okanagan area real estate.

4 Things You Need to Know When Interested in Buying a Home Very Early in Life

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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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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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