The Plan, rebuilding credit to buy a house

Posted by Jeff King on Jul 30, 2010

Is your credit score keeping you from buying that first home? Are you paying rent? Well, according to mortgage professionals, many people refrain from applying for a mortgage for whatever the reason, thinking they won’t qualify. You know the old saying, “you never know ‘till you ask!”? Well, the future may not be so bleak after all!

For starters, you may be able to qualify and not know it. There are many mortgage vehicles out there and you just may be able to jump in and start riding on the mortgage freeway! But, I’m not the mortgage expert! You should call, set up an appointment with your mortgage planner, and discuss your situation. You may be in better shape credit wise than you think. And, if not, your mortgage planner will be able to put a Plan into place with you to start you down the road to getting that mortgage.

Check out the video below and call your mortgage professional. If you don’t have one, call Moira Steele from Tudor Mortgage Architects. You can call her at 250-716-0616 or email her at moira@tudormortgage.ca. If you have any questions about this or you’ve already been approved and would like to start looking for that new home, you can call me at 250-751-4902 or email me at jeff@jeffkinghomes.com .

The Plan

Does increase in Prime Rate affect home buyers?

Posted by Jeff King on Jun 8, 2010

According to mortgage professionals, a small jump in Canada’s Prime Rate does not necessarily mean an increase in borrowing rates for new mortgages! Moira and Julie from Tudor Mortgage Architects help us understand this relationship. “Look at them as more like cousins than brother and sister”, explains Moira…watch the interview for more!

Down Payment vs Deposit

Posted by Jeff King on Jun 8, 2010

There seems to be some confusion out there between the deposit you give the Real Estate Brokerage with your offer and the down payment on the mortgage.

Moira and Julie give us some clarification on the subject:
Look at your purchase as a whole and not pieces. Any money you put down goes toward the final purchase. The lawyers prepare the paper work and make sure the money goes where it’s supposed to. Follow the link below to watch Moira and Julie explain…

Mortgage shopping tips, get a rate hold!

Posted by Jeff King on May 31, 2010

Thinking of buying a new home? The first thing you should do if you are planning on using a mortgage is to talk to your mortgage professional. Get preapproved, prequalified and get a rate hold. Getting a rate hold is one of the first things you should do after you’re preapproved. Whether you’re looking for a new mortgage or your existing mortgage is coming up for renewal, do your homework before the deadline. Your mortgage professional should be able to guide you here. Click on the link below to hear what Moira Steele from Tudor Mortgage Architects has to say.

Don’t Rush the Paper Work, Busy Markets = Longer Closing Times

Posted by Jeff King on Apr 26, 2010

When the markets are busy it can longer to close a transaction.  Everyone from lenders to lawyers are busy and this can create a “bottle neck” of paper work delaying transactions.  Moira Steele explains more here…

“Should I stay” fixed or “Should I go” Variable?

Posted by Jeff King on Apr 15, 2010

I had an interview with Moira Steele from Tutor Mortgage here in Nanaimo on Vancouver Island. We were discussing her opinion about whether or not to take a variable or fixed rate mortgage. In her opinion, if you’re a planner and would like to know in advance at any given time what the balance of your mortgage is, or how long you have left to pay…Stay; fixed that is! If you like the ups and downs like a mutual fund then go Variable. However, traditionally speaking, varialble has alway paid off in the long run and came up shorter (less interest) in the end!

For more information on mortgage rates, check with Moira or Julie at Tudor Mortgage. 

moira@tudormortgage.ca, julie@tudormortgage.ca, www.tudormortgage.ca

To hear more, see more, follow the link below:

For more Real Estate information, contact me, Jeff King at jeff@jeffkinghomes.com or www.jeffkinghomes.com.