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Welcome to the BC Mortgage Guy Web Site

* We will find you the best mortgage to suit your needs.
* We will work hard to find you the lowest rate.
* We will do our best to save you money.

 CEll :  604-897-0930

E Mail : rob.sim.house@gmail.com

Bank of Canada Prime Rate  2.25%

 Lenders now give people 

variable rate mortgages starting at 2.25% & up. 

FIXED RATE MORTGAGES

 5yr fixed from 3.99% + up

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. 

♣  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 !

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Some Conditions. Rates Are Subject To Change Without Notice
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