- Simpson Mortgage Corp. BC Mortgage Broker - Consultant

This is an historically awesome low rate. If you're the nervous type, now might be the time to lock in. Remember the fixed rates can go up even if the Bank of Canada drops the prime rate. Call your lender and see what they're willing to give you. If they won't give you a good deal, then give us a call or email me, and we'll see what we can do for you.

100% Financing

There is no true zero down financing available. You can get close to it by having 5% down and then take cash back from one or two lenders & pay yourself back or use the money for renos. Problem is the interest rates are higher by about 1%, -it will add about $4000 to the cost per annum on a 300k mortgage which makes the payment too high. The mortgage insurance fees are higher too. Also if you have to sell or pay out the mortgage within 3yrs, you have to pay back all or part of the cash back with heavy interest penalties as well. On a 300k mortgage, the interest differential penalties could be as high as 20k in the first 3yrs of a 5yr term. It's usually best to have 5% down and not take cash back.

FORECLOSURES

We added this section as there seems to be more interest in foreclosures. We have extensive experience in the foreclosure business. Foreclosures can be very appealing to buy, but you really need to know what you are doing, or you can easily lose on them.

If you are facing Foreclosure, don't go it alone. We can help you get to know your rights, and we can help you in dealing with the lender, or their lawyers. Don't assume there is no hope, and don't believe everything anyone tells you. Give us a call and let's talk.

♣ If anyone offers you a mortgage you don't like or you aren't getting answers - DON'T DO IT

Simpson Mortgage Corp. &/or Robert Simpson make no representations or warranties regarding the foregoing. The above is a compilation of information from various sources, which cannot be verified or relied upon, and is subject to change without notice. This article cannot be used or reproduced without the express written consent by Simpson Mortgage Corp.

**** First Time Buyer Exemption now : $425K

Feb. 20th, 2008 ** First Time Buyers in the BC Lower Mainland & parts of Vancouver Island can now buy a home up to $425k (previously $375k) without having to pay the Provincial Property Transfer Tax. Between $425K & $450k, the tax is reduced.

First time buyers, can get into the market with the mortgage payment being from $100 to $300 lower at 35yr am than at the 25yr am. It beats renting. You can always increase the monthly payment as your income goes up.

Self Employed

Can't prove income? If you have good credit, and don't owe Revenue Canada, you can get great low rates with as little as 5% down. Conditions are a bit tougher now, so each application is rated on an individual basis. It's easier if you have 10% to 15% down.

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Save Your Money !

Nows the time to use your equity, you never had before - to save up to Thousands of $$$ by getting a mortgage through the BC Mortgage Guy. Don't just sit there paying a high rate mortgage, or those nasty credit card rates !

Get Pre-Approved Now!

Are you serious about finding and buying a house? You will save yourself time and money by getting pre-approved before you start house hunting. Pre-approvals are not binding and give you an advantage over other buyers. We can get you a free pre-approval within hours...

If You Have A Question, Ask Me, The Mortgage Guy

This free service is simple to use and can answer any questions about financing your home or getting a loan. Ask me a question and you will get a quick e -mail response from a real person. The BC Mortgage Guy can make your experience simple and stress free.

Mortgage Types

Different situations call for different types of financing. Choosing the right terms and conditions can make a big difference to your investment now and in the future.

Are You A First Time Buyer?

Buying a house is an important decision. The BC Mortgage Guy is ready to give you the additional help necessary to get you, and your family, the best deal possible in today’s competitive market.

Refer To Our Mortgage and Real Estate Glossary!

Know what an “Acceleration Clause” is? Mortgage and Real Estate lingo can be hard to understand. We have supplied a glossary to help you do just that. If you are still unsure, send The BC Mortgage Guy a note and you will get the proper answer sent to your e-mail!

Check Out Our Calculators & Resources!

Another great set of tools! Find out how much house you can buy and a lot more with our easy to use calculators. You may be surprised at the results! Give them a try!!.

Financial News

Read the BC Mortgage guy's Financial news updates. This special page is updated frequently, so check back often.

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