Home » Mortgage News and Helpful Tips for Home Buyers

Mortgage News and Helpful Tips for Home Buyers

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

Read More »What Can Happen Without a Mortgage Broker

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

Read More »Bank of Canada Announcement (Midsummer 2021)

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

Read More »Mortgage Broker for Self Employed

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

Read More »Mortgage Broker for First Time Buyer

Bank of Canada Announcement (Early Summer 2021)

Penticton Mortgage Rates Update – June 2021

Penticton Mortgage Rates Update - June 2021

The spring season is winding down. This not only coincides with summer vacation planning, but with the Bank of Canada’s latest announcement on economic affairs and their impact on borrowing rates. This is of significant interest to those who anticipate buying a home in the summer months. Should you move forward with your plans or hold-off in light of recent news? Let’s find out!

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

Read More »Bank of Canada Announcement (Early Summer 2021)

Using Airbnb to Pay Your Mortgage

Using Airbnb to Pay Your Mortgage

Using Airbnb to Pay Mortgage

Collectively, the cities and towns of the South Okanagan represent a vacation oasis for people from all over the province, country, continent, and world. As a real estate buyer in/entering the area, you see a major opportunity to pay down your mortgage by putting the prospective home on the short term vacation (STR) market. With online resources such as Airbnb and VRBO, doing so is easier than ever. This is indeed a smart strategy IF executed correctly. As the region’s premier mortgage brokerage we’re here to help you make it happen. Below is a breakdown of everything you need to consider.

5 Things Penticton Area Buyers Need to Consider When Planning to Use Airbnb/VRBO to Pay Down their Mortgage

Read More »Using Airbnb to Pay Your Mortgage

Mortgage Broker for Teachers

Mortgage Broker for Teachers

Summer is upon us in the beautiful BC Southern Interior and for most teachers in the area it couldn’t come too soon. Once the final papers have been graded and the doors are closed they are free, not just for some much-earned leisure, but to focus on personal affairs. For some, the summer marks the perfect time to buy their first home. There’s time to visit open-houses, meet with brokers (ahem), agents, and inspectors, and make a decision. There may even be enough time to move-in, unpack, and host a home-warming party before the September long weekend comes to a close. But as alluded to above, connecting with a mortgage broker is how to get the ball rolling. Here’s why.

Why Teachers in Penticton and the BC Southern Interior Should Consult with a Mortgage Broker When Buying a Home

Read More »Mortgage Broker for Teachers

Single Person Mortgage

Single Person Mortgage

Single Person Mortgage Penticton

We’ve covered getting a mortgage as a young couple, as a senior household, and as a single parent, but many Penticton area residents are flying solo. In fact, as a single person household you make up over 17 percent of the city’s population, next only to two-person homes.

Being independent may have its perks (no arguments over what to watch on Netflix, etc.) but can it be a problem when it comes to buying a home? Not at all. That said, there are a few key things to consider. Let’s review.

5 Considerations for Single Person Households Who Want to Get Their First Mortgage (and how we can help)

Read More »Single Person Mortgage

Mortgage Broker for Seniors

Mortgage Broker for Seniors

Mortgage Broker for Seniors, Pensioners, Retirees Penticton BC

We may be BC Southern Interior’s go-to brokerage for young couples and young parents, but we’d be remiss to not mention another valued segment in the Okanagan Valley. In fact, the senior/pensioner demographic makes up 29% of our population. You are the pillars that hold up the Pentiction area community, and even though you’re retired from the rat race you’ve still got a lot of ambition. If buying a new home is one of them, then you’ve come to the right place. Keep reading.

Why Seniors, Retirees, and Pensioners in Penticton Should Consult With Carloni Mortgage Brokers Before Buying a Home

Read More »Mortgage Broker for Seniors

Bank of Canada Announcement Spring 2021

Penticton Mortgage Rates Update Spring 2021

How does the Bank of Canada announcement impact your ability to buy a home?

The Bank of Canada provided an update regarding the overnight rate and bond yields last week. As you may or may not know, their announcements on such matters are often reflected in variable and fixed mortgage rates, respectively. As a new buyer in Penticton, how will this impact your decision to get a mortgage? Let’s find out.

What Penticton Home Buyers Need to Know About the Spring 2021 Bank of Canada Announcement Regarding Borrowing Rates

Read More »Bank of Canada Announcement Spring 2021