In this blog, we will cover and discuss the FHA 203k mortgage process and eligibility requirements. The Gustan Cho Associates team is experts in originating and financing $203,000 FHA loans. FHA 203,000 loans allow home buyers to buy renovations and will lend for acquisition and renovation in one lending program. Home buyers need 3.5% of … Read more
If you are considering purchasing an investment property in Kelowna, Vernon, Kamloops or elsewhere in the Okanagan Valley or Lower Mainland, with the intention of renovating it, there are some key elements to seriously consider. Others may consider investing in properties in Metro Vancouver, spanning Vancouver, Burnaby, Langley, Surrey or all three cities – but … Read more
Defaulting on your mortgage loan can have serious consequences. If the borrower violates the terms of the mortgage loan or fails to make regular payments, the lender has many strong remedies it can exercise to protect its investment. By making your regular payments on time and following the terms of the loan, you will avoid … Read more
Are you a homeowner considering your next financial move? With the recent decline in the OCR and the start of mortgage rates falling, now is the perfect time to re-evaluate your real estate and financial strategy. As the market changes with increased activity, you may be wondering how these changes affect your mortgage. A crucial … Read more
If you are considering purchasing raw land in British Columbia, Canada, for the purpose of building a home, recreational property or for investment, there are many factors and costs to consider. The cost of servicing the land for building and construction can be quite significant. Additionally, if you are holding the land as an investment, … Read more
Key Considerations for Purchasing a Rental Investment Property The dream of owning a rental investment property in British Columbia, with monthly cash flow and potential increase in value year after year, is the desire of everyone I know. The idea of sitting back and enjoying the benefits of a real estate investment can definitely provide … Read more
Written by Steve Huebl• October 17, 2024• 11:26 p.m.• Economic news • A comment • Views: 2,613 In recent years, many feared that the looming “mortgage renewal cliff” would put a damper on the Canadian economy, especially after aggressive interest rate hikes from the Bank of Canada. But according to an RBC report, … Read more
In Canada’s dynamic real estate industry, foreclosure and power of sale processes play a crucial role in ensuring the orderly resolution of financial disputes and the protection of lenders and borrowers. In British Columbia, Canada, these processes are well defined, providing a legal framework that governs the transfer of property when a borrower defaults on … Read more
Overview of the Canadian Banking SystemThe Canadian banking system is dominated by a few large banks – these are often referred to as the “Big Five”. These banks include the Royal Bank of Canada (RBC), the Toronto-Dominion Bank (TD), the Bank of Nova Scotia (Scotiabank), the Bank of Montreal (BMO), and the Canadian Imperial Bank … Read more
As we approach the next Federal Reserve (Fed) meeting on September 17-18, 2024, it is important for both current homeowners and potential buyers to understand how this could impact mortgage rates. Let’s break down what a potential rate cut means for your home buying or refinancing plans. What is the Federal Reserve doing? The Federal … Read more