Why use a Kelowna Mortgage Professional

There are hundreds of products available to consumers. Let me do the shopping for you. I can often get you a better rate than you at your own bank. Best of all (except in the most challenging of circumstances), my services are free to the client.

Tuesday, August 25, 2009

Kelowna Home Purchase Information

The purchase of a home is the largest purchase most people make during their lifetime. At Dominion Lending Centres White House Mortgage I want to make each and every purchaser is aware of the many mortgage options available to them prior to their purchase and closing date.

First Time Home Buyers
About 50 years ago you needed to have a down payment of 25% before a bank would give you a mortgage. The government wanted more Canadians to own homes so they set up an insurance agency called CMHC (Canada Mortgage & Housing Corp). This enabled Canadians to purchase a home with little down payment (currently 5%) as CMHC ensured payment to the lender thru high ratio insurance.

Since then the government has a program that allows a client to borrow money from their RRSP to use as a down payment and also waives the BC Property Transfer tax if the first time home buyer purchases a home for $425,000 or less. This is letting more and more Canadians purchase homes.

Today, interest-only loans, self-employment programs, rental purchase programs, vacation property programs, and a host of other innovative financing alternatives are dotting the home purchase landscape, making homeownership a reality for more people than ever.

I can assist you with a mortgage pre- approval, understanding fixed rate vs., variable rate mortgage, understanding your credit score, determining the right mortgage term, self employed solutions and help you pay off your mortgage faster.

Dave Lytton
Dominion Lending Centres Kelowna

Toll Free: 1-866-862-5040
Tel: 250-862-5040
Cel: 250-862-6630
E: dlytton@shaw.ca

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Keowna Mortgage Broker - Dave Lytton