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Mortgages & Financing

Home Equity Line of Credit 

Posted on Apr 15, 2024 in Mortgages & Financing




A Home Equity Line of Credit (HELOC) in British Columbia, as in other jurisdictions, is a form of revolving credit that allows homeowners to borrow against the equity they've built up in their homes. It's a flexible financial tool that provides access to funds for various purposes, such as home renovations, debt consolidation, education expenses, o...

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Types of Mortgages -Canada 

Posted on Apr 15, 2024 in Mortgages & Financing




In British Columbia, as in most jurisdictions, there are various types of mortgages available to homebuyers. These mortgages differ in terms of interest rates, payment schedules, and other features. Here are some common types of mortgages available in BC:
  1. Fixed-Rate Mortgage:
    • With a fixed-rate mortgage, the interest rate remains constant throughout t...

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The Difference Between Pre-approved & a Pre-qualified Mortgage 

Posted on Apr 15, 2024 in Mortgages & Financing



The terms "pre-approved" and "pre-qualified" are often used interchangeably in the context of mortgage financing, but they actually represent different stages in the mortgage application process:

Pre-Qualified:
Pre-qualification is the initial step in the mortgage application process.
To get pre-qualified, you provide basic financial information to a...

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Mortgage Pre-approvals are NOT always Guaranteed

Posted on Mar 08, 2021 in Mortgages & Financing



Obtaining a pre-approval for a mortgage is an important first step to purchasing a home, so you have an idea of the price you need to shop for and what to spend. But it's not always a guarantee you'll get the financing or even the exact amount they originally mentioned. 

 What are Mortgage Pre-Approvals? A pre-approval is the preliminary estimation b...

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