Kambi's Blog

Deposit vs Downpayment

Deposit vs Downpayment

As part of the mortgage and real estate processes, there’s a lot of confusion around the differences between the deposit and the downpayment. It's important to understand what sets them apart so you don’t get confused when it’s time to secure financing on a property...

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Minimum Required Credit Profile

Credit. The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. When you borrow money to buy a house, you will be required to prove that you have a good history of managing your credit. But what...

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Bank of Canada Rate Announcement July 11th, 2018

The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. The Bank expects the global economy to grow by about 3 ¾ per cent in 2018 and 3 ½ per cent in...

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Finding Certainty in Uncertain Times

If you listen to the radio, watch the news on TV, read the newspaper, go on Facebook, browse the internet, or talk with people, even a little, chances are you've been inundated with uncertainty. The uncertainty of it all is what sells papers... or ads on the internet,...

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Can I Give Someone The Downpayment to Buy My House?

Although it might not always be this straightforward, the question "Can I give someone the downpayment to buy my house?" presents itself in many different ways. And the answer to all of them is no, well... except in one circumstance, but we will get to that later....

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Reasons You Might Need an Emergency Fund

You’ve heard the horror stories: basement floods gone wrong, cars that randomly stop running, or a pal suddenly losing their job. Perhaps you’re the type of person who thinks “that will never happen to me!” when hearing one of these stories, but the cold reality is...

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How Interest Rates are Like Gas Prices

Have you ever noticed that just like gas prices, interest rates seem to go up and down for no reason at all? How come it feels like right before you are ready to buy a property, rumours of interest rate changes will start to flood the media? Or why do gas prices...

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Online Mortgage Calculators, Can You Trust Them?

You'd think an online calculator is a pretty straight forward device, one that you should be able to place your full confidence in, and for the most part they are. Calculators calculate numbers, the numbers are reliable, but how you interpret those numbers... not so...

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Homebuyers: Avoid These Common Mortgage Pitfalls

A home is the largest purchase most people will make in their lives. That should reinforce the importance of planning ahead, doing your research, relying on the advice of experts and not rushing through the process. With nearly 700,000 homes purchased in Canada each...

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As Simple as Porting Your Mortgage!

As simple as porting your mortgage! Said by no one ever. The truth is, there is nothing simple about porting your mortgage. "Porting your mortgage" involves transferring the remainder of your existing mortgage term, outstanding principal balance, and interest rate to...

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Your Work Makes You Happier Than You Think

While we may think we dislike our work, research shows we’re considerably less happy doing nothing. The great paradox of working for a living, according to a recent longread by Derek Thompson for The Atlantic, is “that while many people hate their jobs, they are...

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The 10 Don’ts of Mortgage Closing

Okay, so here we are... we have worked together to secure financing for your mortgage. You are getting a great rate, favourable terms that meet your mortgage goals, the lender is satisfied with all the supporting documents, we are broker complete, and the only thing...

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Don’t Assume Anything!

A lot of people get into hot water when they assume that because they've qualified for a mortgage in the past, they will qualify for a mortgage in the future. This article has one point to make and it's this: Don't assume anything when dealing with mortgage financing!...

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Budget 2018 | British Columbia

The BC Government released Budget 2018 today. As it relates to housing, the government made changes to the foreign buyers tax, and added a new speculation tax. Foreign Buyers Tax - This is really an enhancement to the tax that is already in place, effective Wednesday,...

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Mortgage Documentation, Plan Ahead!

Collecting the right documentation to prove you are a worthy candidate to borrow a lot of money to buy a property can be an arduous task. The most recent government rule changes and tightening of mortgage qualification isn't making things easier. If you seem to think...

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Are Lenders Obligated to Renew Mortgages?

It's a common held belief that if you've made your mortgage payments on time throughout the entirety of your mortgage term, that your lender is somehow obligated to renew your mortgage. This is simply not the case. The truth is, a lender is never under any obligation...

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10 Money Mistakes Millionaires Don’t Make

So you want to be a millionaire. Sigh, don’t we all. It might feel like a lofty goal but it turns out the underlying principles millionaires follow when it comes to their money are pretty basic. Some of them are downright boring. But they obviously work, so let’s have...

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5 Ways to Boost Your Financial Fitness

Thinking about buying your first home? The race to home ownership is more like a marathon than a sprint: diligent planning, pacing and strategy are the keys to success. Are you ready to approach the starting line? Here are five ways to shape up and boost your...

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Have You Considered a Purchase Plus Improvements?

You're pre-approved for a mortgage, you've been shopping with location in mind, but unfortunately the perfect property isn't jumping out at you. There is no doubt about it, finding the perfect property (within your price range) is a difficult task, especially for...

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4 DIY Solutions for Your Bathroom Space

All of us are looking for ways to make our living spaces more efficient whilst keeping the style intact; and certainly the bathroom space is no exception. The question becomes, “How do I do this without spending a small fortune on renovations and upgrades?” The answer...

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I’ve Never Heard of That Lender Before?

One of the benefits of working with an independent mortgage professional; compared to getting your mortgage through a single institution, is choice. And as there are even more mortgage rules coming into place January 1st 2018, (read about them here) now more than...

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Think Housing is Your Biggest Expense? Think Again!

Oftentimes people assume that housing is our single biggest expense, and although that was true in 1961, times have changed! According to research done by the Fraser Institute, last year the average Canadian family spent more on taxes than housing, food, and clothing...

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10 Tested, Proven Ways to Become Less Productive

Let’s face it: while there is an abundance of articles on how to become more productive, there aren’t a lot on becoming less productive. With that in mind, I decided to put this article together. While it’s helpful to focus on how to get more done every day, it can...

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What is Bridge Financing?

Let's say you have a home that you've outgrown, it's time to make a move to something more suited for your family. You have no desire to keep two houses, so you decide that selling your existing home, and moving into something new is the best idea. Ideally, when...

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Kambi Heywood

250-421-0540
kambi@cmexp.com

Office Address:
1601 1st St S,
Cranbrook, BC
V1C 1B7
Click for Directions.

LET’S WORK TOGETHER

Whether you’re a first time home buyer, looking to refinance or renew your home, or you’re looking at purchasing an investment property, regardless of your circumstance, if you need to arrange mortgage financing, please give me a call or contact me using the form below.

I look forward to working with you! Go ahead, drop me a line, your information is safe with me.

5 + 2 =

Kambi Heywood

250-421-0540
kambi@cmexp.com

Office Address:
1601 1st St S,
Cranbrook, BC
V1C 1B7
Click for Directions.

LET’S WORK TOGETHER

Whether you’re a first time home buyer, looking to refinance or renew your home, or you’re looking at purchasing an investment property, regardless of your circumstance, if you need to arrange mortgage financing, please give me a call or contact me using the form below.

I look forward to working with you! Go ahead, drop me a line, your information is safe with me.

11 + 1 =

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