What Not To Do If You Want To Buy A Home Or Need To Refinance

in Mortgage Financing by David Iverson

Have you been approved for a mortgage and waiting for the completion date to come? Well, it is not smooth sailing until AFTER the solicitor has registered the new mortgage. Be sure to avoid these 10 things below or your approval status can risk being reversed! 1. Don’t change employers or job positions Any career Read More

First Time Home Buyer Loses Money with the BC Home Equity Assistance Program

in Mortgage Financing by David Iverson

First Time Home Buyer Loses Money with the BC Home Equity Assistance Program ARE YOU KIDDING ME?!? HOW CAN THIS BE?!? If you are a first time home buyer, or you know of a first time home buyer that has a 5% down payment saved from their own resources, and another 1 ½% for closing Read More

Purchasing a Home with a Secondary Suite (In-Law Suite)

in Mortgage Financing by David Iverson

Are you trying to find affordable housing options in Kelowna [or in the Okanagan]? But you are having no luck with the very few choices that are available on the current market… Well, maybe you should consider purchasing a home with a secondary suite. According to a recent announcement by the Canadian Mortgage and Housing Read More

How do I Build Great Credit and How can I Raise My Credit Score

in Mortgage Financing by David Iverson

Once you have checked your credit bureau and paid the twenty-something bucks to get your credit score (Fico score) here is how it works. Scores range from 300 (worst) to 900 (best) and everything over 680 is considered AAA. With a few Lenders more options become available with a score over 700. If your score Read More

What affects my credit score (Beacon score)?

in Mortgage Financing by David Iverson

Credit reporting agencies factor in how new the credit is, the number of payments over 30 days late, collections, judgments, and bankruptcies. A single 30-day late payment can drop your score 15-20 points.

What is a Credit Bureau and where can I find my credit score?

in Mortgage Financing by David Iverson

Something that is very important in the world of finance is your credit rating. Great credit opens doors while bad credit can restrict you for years. This article is going to be focused on how to build and maintain a AAA Credit Rating. You might think that you have great credit but if you haven’t Read More

5 Strategies Millennials Leverage When Buying Real Estate

in Mortgage Financing by David Iverson

The Millennial population consists of those who were born between 1980 and 1999, totaling approximately 9 million people.  The oldest of this demographic are now at a common age when first time home buyers consider the purchase of their first home.   This will very likely be the biggest and most important purchase in their life Read More

Who Does Your Banker Work For?

in Mortgage Financing by David Iverson

This may seem like a simple question with an obvious answer, but there are very few people who actually consider this question when seeking mortgage advice. Whether you deal with a bank employee or a mobile mortgage representative (who also works for the bank), you must understand that their main goal is to look out Read More

Renovation Financing and Your Mortgage

in Mortgage Financing by David Iverson

How do I include the cost of renovations in my mortgage? Whether it’s your first home, upgrading to a larger home or downsizing, it is possible to incorporate necessary renovations in a mortgage. This particular strategy is known as a “Purchase Plus Improvements”. You may or may not be planning on renovating a new home Read More

How can I use my RRSPs to Purchase a Home?

in Mortgage Financing by David Iverson

First Time Home Buyers Plan The following is a strategy to use the Federal Government RRSP Tax Rebate to subsidize a down payment on the purchase of a home. Before we start you should first visit the Government of Canada website;  and see if you qualify as a first time home buyer.   I can help Read More