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Mortgage News and Helpful Tips for Home Buyers

Penticton Real Estate News | October 2021

Penticton Real Estate News | Oct. 2021

Penticton Real Estate News

Every so often our mortgage brokerage embraces the responsibility of sharing recent Penticton real estate news. After all, seeing as you’re in the market for a home in the Southern Okanagan Valley it’s most certainly of interest to you. What’s new as we enter the fourth fiscal quarter of 2021? Is there anything on deck that should incite you to take action on your mortgage pre-approval? Let’s review.

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

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What Type of Mortgage Should I Get?

What Type of Mortgage Should I Get?

After yet another Bank of Canada announcement regarding interest rates, and watching the cost of getting a mortgage tumble down into the valley of opportunity, you’ve made the wise decision to buy your very first home. You could not have picked a better time. This juncture of 2021 may go down as the one moment in history when buyers in BC truly had all of the power. That said, you’ve still got some questions, namely “What type of mortgage should I get?”. There are significant options and variables to consider. To help, our Okanagan mortgage brokerage has provided clarity below.

First Time Buyers’ Guide to Deciding Which Type of Mortgage to Get When Buying a Home in the BC Southern Interior

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Climate Change and Mortgage Risk

Climate Change and Perceived Mortgage Risk

Thousands upon thousands of households across British Columbia and Canada have their eye upon the BC Southern Interior as a place to call home. Who doesn’t want to live here? It’s a four-season paradise. But there’s an elephant in the room that must be addressed. It’s called climate change, and the impact it may have on where people choose to buy a home. With a lot of media exposure placed on summertime forest fires in the Okanagan, some people are wondering if this neck of the interior is a place to establish roots. As the Penticton community’s go-to mortgage broker, we want you all to have a look at the big picture. Let’s review.

Why the BC Southern Interior Remains to be a Big Draw for Home Buyers Amidst Climate Change

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Bank of Canada Announcement (September 2021)

Penticton Mortgage Rates Update – September 2021

Penticton Mortgage Rates September 2021

It’s “back to school” week across BC! All over the province parents, households, and teachers alike are scrambling to adjust their schedules and are planning for the season ahead. Amidst the chaos, the Bank of Canada just made their own scheduled announcement, about borrowing rates. New buyers are left wondering if their plans to get a mortgage before the year comes to an end is still viable. Have things changed since the Bank of Canada’s midsummer press release? Is it still the best time in recent history to buy a home in the Southern Interior? Let’s find out.

What BC Southern Interior Buyers Need to Know About the September 2021 Bank of Canada Announcement Regarding Borrowing Rates

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When to Hire a Mortgage Broker

When to Hire a Mortgage Broker (to buy a home)

When to Hire a Mortgage Broker Penticton BC
This is usually the answer, but feel free to read ahead…

Before we begin, we want to clarify that you actually don’t “hire” a mortgage broker in a traditional sense. Yes, we absolutely work for YOU, but you don’t pay a thing out of pocket. Instead, you secure the services (or partner with) a mortgage broker. With semantics out of the way, we can now get to your important question. Below is a succinct breakdown of questions to ask yourself before getting a home loan. 

6 Questions to Ask Yourself When Determining Whether or Not to Work With a Mortgage Broker When Buying a Home

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Best Place to Get a Mortgage in BC

Best Place to Get a Mortgage in BC

Best Place to Get a Mortgage in BC

It’s not the wine (but it helps)

You’re spreading your wings and looking to buy and/or invest in a home somewhere in beautiful British Columbia. With so many great cities and towns to choose from you’re at a bit of a crossroads. Should you hop over to the island? Stick with the Lower Mainland? Perhaps somewhere up north, or kiss the border along the neighboring province of Alberta? We’d like to suggest an alternative – the BC Southern Interior. And no, we’re not biased because we have our mortgage brokerage here in Penticton. In fact, the chicken is ahead of the egg, as we chose this neck of the woods because it’s the best place to get a mortgage in BC. Here’s why.

3 Reasons Why First-Time Buyers and Investors Are Flocking to The BC Southern Interior to Buy a Home

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What Can Happen Without a Mortgage Broker

What Can Happen Without a Mortgage Broker

(Summer Edition)

Don’t drop the ball (aside from this one) this summer. Call a mortgage broker!

There are some friends, family members, and coworkers out there, who whisper in your ear and tell you that you don’t need to use a mortgage broker when buying your first home. These are the same folks who try to convince you to skip the professional mechanic and instead let their cousin Frank take care of the transmission. A week later you’re stuck on the BC-97C in 40°C.

Still not sure? Hey, we get it – as on the surface it seems that cutting out a middleperson is the most efficient course of action. However, when it come to buying your first home, the surface is not what it seems. Are you preparing to enter the market this summer? Below is a breakdown of what can happen if you don’t use a mortgage broker at this unique time of the year. Here’s a hint. It’s not very cool.

4 Uncool Things That Can Happen When You Don’t Use a Mortgage Broker When Buying a Home This Summer

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Bank of Canada Announcement (Midsummer 2021)

Penticton Mortgage Rates Update – July 2021

The Bank of Canada (BoC) made their first official announcement of the season, and it’s a midsummer dream for buyers. If you are unfamiliar with the BoC’s press releases and the impact that they generally have on mortgage rates and the real estate market, we encourage you to gain some insight from our past articles (light reading!) on their announcements from June and May of 2021. Today, for the sake of our buyers out there (who just want to get to the beach) we’ll keep it succinct. But allow us some foreshadowing – it’s great news for you!

What BC Southern Interior Buyers Need to Know About the Midsummer 2021 Bank of Canada Announcement Regarding Borrowing Rates

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Mortgage Broker for Self Employed

Mortgage Broker for Self Employed Freelancers

The Penticton BC labor force is an enterprising bunch. Recent data shows that over 13 percent of Penticton’s “people power” identifies as self-employed. And while the events of the past year hit many entrepreneurs quite hard, it has also created growth in the category. A number of individuals who lost their job were forced to find income on their own, and in many cases it created an opportunity to become more self sufficient as a freelancer. Others who maintained their jobs switched to a remote working environment, yet also found that they could spread their wings and do it on their own. At the same time, some businesses that have maintained a remote workforce through COVID have given staff the option to keep working from home as contractors. All in all, a greater number of professionals will come out of 2021 as self employed contractors and enter 2022 (and beyond) with their destiny in their own hands.

But for all of the benefits of being self employed, there is one concern that many have – getting a mortgage. People assume that because they don’t have a consistent wage/salary with a corporate watermark on it, that lenders will consider them to be high-risk. It’s true that getting a home loan as a contractor may be a challenge when dealing with some single-minded institutions. However, when you work with a mortgage broker your options grow exponentially. Here’s what you need to know.

Why Self Employed Professionals Should Partner With a Mortgage Broker When Buying a Home

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Mortgage Broker for First Time Buyer

Mortgage Broker for First Time Buyers

Mortgage Broker for First Time Home Buyer in Penticton

The biggest decision of your life is also the scariest. Purchasing a new vehicle, deciding on which university to fork over tuition to, and choosing a career path pale in comparison to what it’s like to buy your very first home. While you will have received “expert” advice from coworkers, friends, and family, they have done little to ease the nervousness you are feeling. If the mortgage broker industry exists for anything, it’s to disquiet this trepidation. How do we accomplish this task? Let’s find out.

How First-Time Home Buyers Find Comfort in Partnering With Carloni Mortgage Brokers

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