If you’re looking to purchase a property, although you might not think it matters too much, the source of your downpayment means a great deal to the lender. Let’s discuss the lender requirements, what your downpayment tells the lender about your financial situation, a how downpayment helps establish the mortgage loan to value. Your Mortgage […]
Getting a mortgage with construction assignments One of the benefits of working with an independent mortgage professional is having lots of great financing options! Rather than dealing with a single lender with one set of products, independent mortgage professionals work with multiple lenders who offer a wide selection of mortgage financing options that provide more […]
Have you heard of a spousal buyout mortgage? Well, if you’re going through or considering a divorce or separation you should keep reading. You might not be aware that there are mortgage products designed to allow you to refinance your property and buy out your ex-spouse. Like most people, your property is likely your most […]
To cap off another amazing year in Kelowna real estate, the team at Hilbert&Crick have compiled a year-end recap of our blog content. In this post, you’ll be able to read a quick summary of every article from 2021. Over the past year, we’ve written a host of helpful real estate articles. All to ensure […]
Porting your mortgage is when you transfer the remainder of your current mortgage term, outstanding principal balance, and interest rate to a new property if you’re selling your existing home and buying a new one. Now, despite what some big banks would lead you to believe, porting your mortgage is not an easy process. It’s […]
If you have a variable rate mortgage and recent economic news has you thinking about locking into a fixed rate, here’s what you can expect will happen. You can expect to pay a higher interest rate over the remainder of your term, while you could end up paying a significantly higher mortgage penalty should you […]
What is credit and mortgage financing? Credit. The ability of a customer to obtain goods or services before payment, based on the trust that you will make payments in the future. When you borrow money to buy a property, you’ll be required to prove that you have a good history of managing your credit. That […]
If you’ve missed a payment on your credit card or line of credit and you’re wondering how to handle things and if this will impact your creditworthiness down the road, this article is for you. But before we get started, if you have an overdue balance on any of your credit cards at this exact […]
Winter is approaching rapidly in the Okanagan! There are already signs of snow at some houses in Kelowna BC. One of the biggest draws to real estate in Kelowna is the world-renowned ski hill, Big White. Families can enjoy a season of winter fun like tubing, skiing, snowboarding, snowshoeing, hiking, and more. By purchasing houses […]
