Mortgage News and Helpful Tips for Home Buyers

Mortgage for Entrepreneurs

May 3, 2023May 3, 2023

Own a Business, But Not a Home? You’re Missing Out!

Congrats on leaving the 9-5 grind behind to run your own business venture. It must feel good to retreat to your very own home at the end of each day to bask in the rewards of your entrepreneurial labor. What’s that? You don’t own a home? While we still admire your entrepreneurial spirit, we have to be honest with you; you’re totally blowing it. As a business owner you have everything to gain by investing in a property today. Below is what you need (clearly) to know.

How Okanagan BC Business Owners Who Don’t Own a Home Are Totally Blowing It (and what you can do about it)

May 3, 2023May 3, 2023

Luxury Home Mortgage Broker Okanagan Valley BC

Luxury Home Mortgage Broker in the Okanagan Valley

While not reported in this recent Okanagan real estate news release, there was one story to come out of the Kelowna area that caught the attention of nearby media. Over the last two annum, a local real estate firm sold 6 houses in Kelowna over 2 years for a total of $55 million CAD. That’s an average price of $9.17 million per house. Those are numbers people are accustomed to seeing from Malibu to Maui, but not necessarily for the Okanagan Valley. Although, it’s hard to see why anyone would be surprised given that we’re in the best place to buy a home in BC if not the country. Dare we say continent?

Our Penticton office also receives its fair share of luxury home mortgage information requests. Buyers and investors from all over the world are interested in laying roots in the southern end of the Okanagan. If you’re among them, there’s only one place to turn for your luxury property mortgage – Carloni Mortgage Brokers. Here’s why.

Why Buyers and Investors Searching for a Luxury Home in the Okanagan Valley BC Turn to Carloni Mortgage Brokers

May 3, 2023May 3, 2023

Okanagan Real Estate News | May 2023

Spring is definitely in the air. Some may say “summer” after the Okanagan Valley has experienced a heat wave to rival the Hawaiian Islands (where we just returned from).

The month of May is off to a great start, and it’s not just the weather that we’re referring to. Buyers will be pleased to learn of some promising developments in the Okanagan real estate market. Let’s review.

May 2023 Real Estate Updates for the BC Okanagan Valley that New Buyers Want to Know About

April 14, 2023April 14, 2023

First Home Savings Account for Okanagan Buyers

As a first time home buyer on the hunt for a home in the Okanagan Valley and BC Southern Interior you have been following news about local area real estate. And if so, you may have been left feeling less than enthusiastic regarding higher (than they have in the last 5 years) variable and fixed mortgage rates. You’ve also read about limited housing inventory in our in-demand resort communities. While things are finally trending in your favor after the last announcement regarding the prime rate, there is one new development that has given new buyers a chance to celebrate – the arrival of the federal government’s tax-free First Home Savings Account (FHSA) program.

The FHSA program launched on April 1 (2023) and is for those of you in-search of your starter home. Below is a breakdown of what you need to know about this exciting opportunity to secure a downpayment on your first real estate purchase.

How First Time Buyers in the Okanagan Vallery Can Secure a Downpayment Through Canada’s New First Home Savings Account (FHSA) Program

April 5, 2023April 5, 2023

From the Okanagan Valley to the Valley Isle of Hawai’i

Okanagan Valley BC and Maui Hawaii Real Estate Comparison

The fearless leader of our Okanagan Valley mortgage brokerage – Rene Carloni – recently made an excursion to the Valley Isle of Hawai’i. For the uninitiated, the Valley Isle is the affectionate nickname for Maui, which it received due to its unique position between volcanoes that form a bridge of flat land. This feature is akin to our very own BC Southern Interior where there are 16 craters in the Penticton Group of Volcanoes. Our aina (land) is also similarly blessed with beautiful waterways and geographic embellishments that draw visitors from all over the world. You can even find Hawaiian style shave ice along the hot summer sands of Skaha Lake.

While Rene certainly enjoyed time with his ohana while on Maui, he also set aside blocks of his itinerary to asses of the island’s real estate market. He can’t help himself. What Rene discovered, is that the resort community of BC’s Okanagan Valley boasts many parallels to Hawaii’s beloved Valley Isle when it comes to real estate. Below is a breakdown of these similarities and why the services of a mortgage broker are just as important between the two kaikaina (siblings).

What Home Buyers Can Learn About the Similarities Between the BC Okanagan Valley and Hawaii’s Valley Isle of Maui

March 5, 2023March 8, 2023

Okanagan Real Estate News | March 2023

One of the Okanagan Valley’s most trusted news resources regarding real estate and mortgage rates is back with an update, and just in time for Spring Break. Given that you’ve decided that spring is a good time to get a mortgage, you’re wondering if you should get pre-approved today, or wait a little longer. Rather than comb through indecipherable market reports, you can simply read below to find out everything you need to know.

Real Estate Updates for the BC Okanagan Valley that New Buyers Want to Know About

March 5, 2023March 5, 2023

There Are No Houses for Sale in My Area!

The BC Southern Interior has a major problem, and there’s no way to sugar-coat it. The four-season resort community is considered by most everyone as the BEST place to live in the entire province. Even worse, is that experts recently stated that our towns are now rated the best for real estate investment. This is all very devastating.

Wait, what?

Isn’t this all GOOD news? Sure, but when you consider the impact of being one of the most attractive places to buy a home in the country, you’ll find that there is one side effect that new buyers abhor – limited inventory of houses. This is the predicament that you find yourself in. It’s why you jumped online, and instead of asking a question, you literally typed “There are no houses for sale in my area” into your search bar (sans an exclamation so as to not anger Google).

Thankfully you did, because we feel your pain. In fact, your exact statement is what has brought other clients into our Main Street Penticton office over recent years.

We have the answer you’re looking for.

Will we magically make new construction houses appear out of thin air? Imagine that (super lucrative). Unfortunately we do not have the power to make that happen. What we do have, is the ability to immediately increase YOUR buying power. In doing so, you can afford a property that you didn’t think that you were able to. How is this possible? Let’s review!

How Carloni Mortgage Brokers Can Help New Buyers Find a Home Despite Seemingly Limited Inventory

March 3, 2023March 5, 2023

Should I Get a Mortgage in the Spring? Spring season is upon us. Although, someone should alert the weatherman because so far he’s been delivering… Read More »Spring Mortgage

Valentine’s Day

February 13, 2023February 13, 2023

Valentine’s Day Mortgage

Our Okanagan BC office believes in celebrating all of the special days of the year. We also believe in love, which is why we’ve got a special delivery for prospective home buyers this Valentine’s Day. Is it flowers? Maybe chocolates? We’ll leave all of that for your beloved to manage. Instead, we’re sharing some tips that marry your adoration of Valentine’s and your deep desire to find a place to call home this year. Let’s dive in!

Valentine’s Day Themed Mortgage Tips for New Buyers in 2023

February 13, 2023February 13, 2023

What to Do About These Mortgage Interest Rate Increases

Are you tired of hearing about mortgage interest rate increases? Us too. In fact, for the first time since we’ve been publishing real estate news updates we left out of the most recent Bank of Canada announcement regarding yet another hike in the prime rate. Like we said – we’re over it.

That being said, mortgage interest rate increases certainly impact your decision to get a home loan. And as the BC Southern Interior’s go-to mortgage brokerage we know that you need some advice – and fast! Is there anything to be done as someone who wants to enter the market early in 2023? Most certainly.