Khush Dhillon_Mortgage Architects

1.89% - 5 year fixed OR 1.24% - 5 year Variable. One of the lowest rates across Canada! *Purchase and Transfers only*. *Not for refinances or rentals* (high rat...io mortgage only, O.A.C ) Don't miss out! M: 1-250-685-8383 E: [email protected] See more

" I may not be there yet , But I am closer than I was yesterday " ...... Unknown When you’re dedicated to something, you learn along the way. More than figuring out what you need to do to propel yourself to success, you can see more clearly what you don’t know and the progress you still need to make. This is only possible if you celebrate every near win. So the next time you almost achieve success but miss out, think about this and celebrate the fact that you’re very nearly... there! Trying is just as rewarding as succeeding ! #nevergiveup #keepmovingforward #tryagain #khushdhillon See more

Understanding Real Estate : Mortgage Renewal - When your mortgage is approaching the end of its term, your lender will send you a renewal offer that promises a ...hassle-free renewal if you sign the letter and mail it back to them. Amazingly, approximately 1/3rd of renewers actually take the initial offer! The catch is that the offered interest rate is often at a banks posted rate, which is about 1% higher than current competitive rates. The bank is just hoping that youll be lazy and not notice. The best thing to do when you get a renewal offer is to call your mortgage broker. One of two things will happen: either we will help you secure a much lower rate at a different lender or, when your current lender realizes that it actually has to compete to keep your business it will finally offer you the competitive rate you and I know should have been given to you in the first place. Call for detailed information. Khush Dhillon 604.339.7727 #BCrealestate #realestatefinancing #khushdhillon #mortgageadvisor See more

Understanding Real Estate: Mortgage Pre-approval - A mortgage pre-approval is a key piece of the home buying puzzle. The pre-approval provides buyers with important information that helps with their home search. When you get pre-approved for a mortgage, you find out the maximum amount you can spend on a home, the monthly mortgage payment associated with your maximum purchase price and what your mortgage rate would be for your first mortgage term. Put simply, mortgage pre-appr...oval is important because it helps to take the pressure off your home search, helping to make it a stress-free, enjoyable and exciting process. A pre-approved mortgage helps you understand what purchase price you are qualified for before you begin your search; ensuring you dont look at homes outside of your price range. Mortgage pre-approval isnt just important for you, but for the seller as well. Mortgage pre-approval is evidence that youre serious about buying. Having a pre-approval letter assures sellers that you are a qualified buyer for the home youre considering buying. Call or DM for your pre-approval and regarding any questions regarding real estate financing. Khush Dhillon 604.339.7727 #bcrealestate #mortgageadvisor #realestatefinancing #khushdhillon See more

Real Estate Trivia: Real Estate in Japan ! In Japan, it is almost impossible to buy a pre-owned, resale house. Most of the houses depreciate in value and more than half of them are demolished after about 30 years. Whereas some of the most desirable pieces of real estate are over a century old in the western world, its the opposite in Japan. Property is typically assumed to have a useful life of between only 20 and 30 years. Thats the harsh reality of a nation prone to earth...quakes, tsunamis, and destructive wars for as long as anyone alive now can remember. Repairs can usually be made and the Japanese do enjoy some of the worlds best earthquake resistant buildings. However, repairing aged structures is costly. Even the best homes will have damage after a few 8.0 earthquakes. There are four times more architects and two times more construction workers per capita in Japan than there are in the U.S. Basically houses in Japan depreciate, and while land may keep its value, the house on it will be worth less and less as time goes on, going to zero or even minus numbers (to account for the costs of demolishing the building) after a number of decades. #realestate #realestatetrivia #interestingfacts #khushdhillon See more

Understanding Commercial Real Estate- The BRRRR Method means buy, rehab, rent, refinance, repeat, and describes a strategy and framework used by investors who... wish to build passive income over time. This acronym represents steps that should be implemented in the exact order they appear. The goal to a BRRRR strategy in real estate is that when you refinance the property and pull all the money out that you put into it, you effectively pay nothing for a property. Plus you still have 25 percent built-in equity to lower your risk. -Khush Dhillon #realestate #realestatefinancing #bcrealestate #khushdhillon

Which is better option for you ?

Understanding Real Estate- Fixed or Variable Rate : Which is good for you ? Almost every mortgage shopper has the same question at some point, especially when rates are surging or diving.... Answer this correctly and youll save thousands in interest. Pick the wrong rate type, and it could cost you just as much. Fixed Rate : Pros- Interest rate is fixed for the length of the term chosen. Cons- If you break your mortgage due to any reason such as refinance, job change , relocation etc. , pre-payment penalties will be exorbitant. Variable Rate : Pros- Generally, lower rates. Nominal 3 month interest penalty to break mortgage due to any of the life events. Cons- ??? Your rate may increase in increment of .25% if Canadian economy is roaring! But its important to note that : -The interest rate cannot spike randomly -The interest rate will not double overnight nor will your payments. Here's Dustan Woodhouse's (President Mortgage Architects) take on Variable vs Fixed. For detailed information feel free to contact ( Call/DM) Khush Dhillon 604.339.7727 #bcrealestate #realestatefinancing #mortgageadvisor #khushdhillon https://vimeo.com/groups/540211/videos/279581066

" I may not be there yet , But I am closer than I was yesterday " ...... Unknown When youre dedicated to something, you learn along the way. More than figuring out what you need to do to propel yourself to success, you can see more clearly what you dont know and the progress you still need to make. This is only possible if you celebrate every near win. So the next time you almost achieve success but miss out, think about this and celebrate the fact that youre very nearly... there! Trying is just as rewarding as succeeding ! #nevergiveup #keepmovingforward #tryagain #khushdhillon See more

Canada's mortgage 'stress test' level falls, gives borrowers a little more room: Bank of Canada is set to reduce the benchmark qualifying ratea.k.a., stress test ratefrom 4.94% to 4.79% this week. The mortgage stress test requires banks to check that a borrower can still make their payment at a rate thats higher than they actually pay. The rate is based on a mode average of the big banks 5-year fixed posted rate. Thus, reduction in big-banks' posted rate causes the qual...ifying rate to fall from its current level. It will make qualifying easier, or permit some people to borrow fractionally more, says Paul Taylor, President and CEO of Mortgage Professionals Canada. To find out how this reduction changes your borrowing potential, DM or Call : Khush Dhillon 604.339.7727 #mortgageadvisor #realestatefinancing #refinance #khushdhillon

Real Estate Trivia - #realestate #realestatefunfacts #khushdhillon

Understanding Commercial Real Estate: CAP rate - What cap rate actually telling you? In commercial real estate, a capitalization rate (cap rate) is a formula ...used to estimate the potential return an investor will make on a property. The cap rate is expressed as a percentage, usually somewhere between 3% and 20%. Cap rates generally have an inverse relationship to the property value. The lower the cap rate, the higher the purchase price and vice versa. What impacts a cap rate? -Current Market Condition -In-Place Rents vs. Market Rents -Lease Lengths and Expiration Dates -Location of the Property -Condition of the Property Cap rates are a highly valuable tool for investors looking to understand how a commercial property might perform relative to other assets. For more information contact ( Call/ DM). Khush Dhillon 604.339.7727 #realestate #realestatefinancing #mortgageadvisor #mortgage #khushdhillon

Few pointers on how to pay off mortgage quickly !

Under Standing Real Estate : Last week I posted about " Scottish Red Door " tradition of paying off mortgage. Here's few pointers on how to get to that "Red Door " quickly - 1. Increase the frequency of your payments. Ask your mortgage professional to show you how youll save by paying biweekly or weekly, instead of monthly. 2. Make prepayments or anniversary payments. Most mortgages will allow you to make payments up to 10, 15 or 20% of the entire mortgage once a year. This ...money is applied directly to the principal, saving you money in annual interest costs. Consider using your tax refund or annual bonus for this type of payment. 3.Make lump sum payments whenever your financial circumstances permit. Double your payments whenever possible. 4. Ask your mortgage professional to show you how selecting a 20-year amortization period instead of a 25-year amortization period will affect your payments and interest costs. 5. If interest rates have dropped when you renegotiate your next term, keep your mortgage payments the same. More money will go directly to paying down the principal For more information contact me ( Call / DM) . Khush Dhillon 604.339.7727 #mortgageadvisor #realestatefinancing #BCrealestate #khushdhillon

Understanding Real Estate : The mortgage process can be overwhelming. Knowing key mortgage and home buying terms can help reduce confusion and assist you in better understanding the process of buying a home. #realestatefinancing #mortgageadvisor #bcrealestate #khushdhillon

Re-post ( with information documents ) Understanding Real Estate: Five Government Programs First Time Home Buyers Should Be Using: 1. First Time Home Buyers Program Land Transfer Tax Exemption- First-Time Home Buyers Program allow qualified first-time buyers to get either a full refund (for properties up to $500,000) or a partial exemption (only for properties up to $525,000) from paying the Property transfer tax. This means that first time homeowners can avoid a tax bill... of up to $8,000. Unfortunately, this exemption only applies to properties worth less than $525,000 as new owners of properties with a value of $525,000 and above get no exemption. 2. First-Time Home Buyers Tax Credit (HBTC) 3. BC Property Transfer Tax On Newly Built Homes - Theres a PTT full exemption for newly built homes with a fair market value of up to $750,000, including a house constructed or a newly subdivided unit, saving buyers up to $13,000. 4. BC Home Owner Grant 5. RRSP Home Buyers Plan - The Home Buyers Plan (HBP) is a program that allows you to withdraw up to $35,000 (which can be doubled for couples) from your registered retirement savings plans (RRSPs) to use as down payment. Feel free to call or DM for detailed information. Khush Dhillon 604.339.7727 #mortgageadvisor #khushdhillon

"A River Cuts Through a Rock Not Because of Its Power, But Because of Its Persistence" There are a lot of qualities needed and required in starting and running your own business: intelligence, creativity, ambition, are all required in some measure if you hope to overcome the barriers to entry into entrepreneurship. There are barriers to entrepreneurship that have little to do with ability that prevents many from even trying, yet even in a just world with any such barriers re...moved and equal access granted to all there would still be those who would fall just short by the very nature of the enterprise. Even the best among us get it wrong sometimes. Our determination to go on plays the ultimate role in success of our business. Its our brains that elevate us to a place where were able to pursue our dreams with a company of our own, but its often hard heads and stiff backs that enable it to continue on. Perseverance and persistence crucial in the work required to turn a business into a viable enterprise, given the challenges and roadblocks thrown up along the way. Khush Dhillon #nevergiveup #tryonemoretime #motivation #khushdhillon

Real Estate Trivia : The Scottish Tradition - "when youre out of the red and pay off your mortgage in Scotland, its customary to slap a fresh coat of red paint on your front door". More recently, some homeowners particularly in Scotland paint their front door red in order to signify that they have paid off their mortgage. This mortgage-free announcement is of course exciting to homeowners and its worth proclaiming! Even if the public doesnt know about this hidden me...aning, at least it will make the homeowners smile whenever they see their front door. To being Mortgage free !!! Khush Dhillon 604.339.7727 #realestatecanada #realestatetrivia #mortgagefree #khushdhillon See more

Understanding Real Estate: Commercial Real Estate Financing is analogous to Residential, but very different at the same time. Both form of financial underwritin...g has Income cash flow to service debt. However, risk margin ratios are factored in differently in Commercial and Residential underwriting. Also, Income cash flows are result of different sources. In residential, its Applicants employment Income and In Commercial its rental income generated by property itself. Let's discuss Rental Income and lease options - All commercial real estate leases fall somewhere along a spectrum with absolute net leases on one end and absolute gross leases on the other end. Most leases fall somewhere in the middle and are considered to be a hybrid lease. This info-graphic lists different type of lease agreements and Inclusions / exclusions. For more information call or DM. Khush Dhillon 604.339.7727

Understanding Real Estate: Dreaming of owning a home? We can help make that dream a reality. 1. Figure out what you can afford. Before you start looking for a h...ome, get a general idea of how much you may be able to afford and what your mortgage payments would be. 2. Save for your down payment (if applicable). Considering the high cost of home ownership in Canada, most newcomers (and most Canadians) dont pay the full price of their home all at once. Typically, buyers make a down payment on a home using money they've saved and then borrow the rest (through a mortgage) from a lender. 3. Understand your mortgage options. There are a lot of mortgage features to choose from in Canada. Talking to an Independent mortgage Broker is one of the best ways to make sense of all the optionsand to help you save money over the lifetime of your mortgage. For detailed discussion and / or further information call or DM me. Khush Dhillon 604.339.7727 #realestate #mortgageadviser #realesatefinancing #khushdhillon

Importance of Goal setting : How often do we set goals? How often do we revisit our list? We all know that setting goals is important, but we often dont realize how important they are as we continue to move through life. There are many benefits and advantages to having a set of goals to work towards. Setting goals helps trigger new behaviors, helps guides our focus and helps us sustain that momentum in life. Goals also help align our focus and promote a sense of self-mastery.... In the end, we cant manage what we dont measure and we cant improve upon something that we dont properly manage. Setting goals can help you do all of that and more. Also bear in mind " A goal without a timeline is just a Dream " Khush Dhillon 604.339.7727 #goalsetting #achieveyourgoals #reachforthestars #khushdhillon See more

Understanding Real Estate: Rates! Undoubtedly we have the lowest rates in the recent history. However, the advertised rates are not available to everyone or on every property. There are multiple macro & micro factors impacting the mortgage rate the you are offered. In fact, it is almost impossible to quote a rate without learning the details of the transaction. Few critical factors ( macro & micro ) are - 1. Macro-economic factors (such as economic growth, inflation, fiscal p...olicy, etc.) 2. Bank of Canada monetary policy 3. The bond market (e.g., bond yields, bankers acceptance yields, etc.) 4. Your down payment (equity) 5. Your credit score and credit history 6. Quality of employment and income 7. Your debt ratio 8. Property type and location (city condo, rural cottage, etc.) 9. Loan type (purchase, refinance, renewal) 10. Property usage (owner-occupied, seasonal, rented out, non-resident owner, etc.) 11. Features and restrictions (prepayment options, re-advanceability, penalty type, refinance rules, portability policy, etc.) 12. Amortization length 13. Closing date (rate hold period) 14. Loan amount 15. Property value 16. Discounting Talk to a Mortgage Broker for in depth understanding of these factors. Khush Dhillon 604.339.7727 #mortgageadvisor #khushdhillon See more

Real estate trivia : Here's a visualization of the history of the world's tallest buildings and pretty soon the Burj Khalifa will also be dwarfed.

Why Use a Mortgage Broker? A mortgage broker works for you and unlike a bank has access to over 50 lenders to ensure you get the best possible mortgage product and competitive mortgage rates. A mortgage broker will review you individual needs and place you with the right mortgage with a good rate and mortgage privileges. Your Mortgage Architects broker will make sure to guide you through the mortgage process and make sure you rest easy in your new home.` Feel free to DM or C...ontact for any Mortgage / Real estate Financing related query. 604.339.7727 Khush Dhillon #realestate #realestatefinancing #mortgageadvisor #khushdhillon See more

Real estate Finance Solutions: Did you know you could use Canada Child Benefits ( CCB ) towards Mortgage Qualification ? Working with Mortgage Broker is about finding optimum solution to your real estate requirements. One such solution is leveraging Canada Child Benefits in addition to Salary to qualify for mortgage to buy your dream house. Though, all conventional Banks do not accept CCB as Income source. There are Lending solutions which makes this possible. Your dream ho...use should not be limited in size due lack of options. Talk to your Mortgage Broker for these lending options to get your dream house. For more information DM or call me. (* Actual Client Scenario Summarized ) Khush Dhillon 604.339.7727 #realestate #mortgageadvisor #lendingsolutions #mortgagesolutions #khushdhillon

Bank of Canada Holds Rates. Todays Announcement: No change to rates Overnight rate: 0.25%... Prime Rate: 2.45% (also no change) Market Rate Forecast: No BoC hikes in near immediate future. (Next BoC Meeting 09 Sep, 2020) The Bank of Canada will keep its key interest rate at 0.25 per cent until the national economic picture improves. Low interest rates would help households and businesses recover from the COVID-19 pandemic by making borrowing relatively inexpensive. The bank expects the economy to contract by 7.8 per cent this year, driven downward by a year-over-year contraction of 14.6 per cent in the second quarter. Then it expects growth of 5.1 per cent in 2021. BoC Governor Tiff Macklem said "If you've got a mortgage, or if you're considering to make a major purchase, or you're a business and you're considering making an investment, you can be confident that interest rates will be low for a long time." This could be right time to invest in real estate. For detailed discussion DM or call. Khush Dhillon 604.339.7727 #realestate #mortgageadvisor #realestatefinancing #khushdhillon

Real Estate Finance Solutions - Why settle for one Financial Institution when you can get the best rates, exceptional service and financial flexibility for various life situations? We have access to multiple lenders (i.e. Banks, Credit Unions, MFCs etc)

Character consists of what you do on the third and fourth tries. James A. Michener #nevergiveup #tryonemoretime #motivation #khushdhillon

Realestate trivia : Do you think you can buy a home for just a paper clip? One red paperclip is a website created by Canadian blogger Kyle MacDonald, who barte...red his way from a single red paper clip to a house in a series of 14 online trades over the course of a year. "A lot of people have been asking how I've stirred up so much publicity around the project, and my simple answer is: 'I have no idea'", he told the BBC. https://en.wikipedia.org/wiki/One_red_paperclip #realesate #interestingrealesatefacts #khushdhillon

#realestate #vancouver #bcrealestate #khushdhillon

Real estate Solutions: Qualifying for Canadian mortgage without job offer. Canada is a promising land of opportunities and sees abundant immigration from around... the world. Last year Canadas population increased by `2% and the primary driver was immigration. All new Canadians have dream of owning a home in Canada. Many see advantage of homeownership over renting and are interested in purchasing property right after landing in Canada. There are many programs that help new Canadians buy house without their first Job offer. Such programs are called Equity Programs and do not need Income qualification. Few Major Canadian Lenders offer such programs. Buyers needs 35% of the house value as downpayment and 12 months of mortgage payments in their Canadian Bank accounts. Downpayment money can be gifted from immediate family members back home. These programs are incredibly good options for those who want to invest in Canadian property sooner, not pay rents & built own equity and experience the property appreciation firsthand. Thereby increasing their personal net worth in Canada. Here is a simple example to explain hoe this program works: Property: Townhouse in Greater Vancouver Area (GVA) Mainland - $650,000 Downpayment require: 35% - $227,500 12 Month Payments Approx. $ 18,000 If you are interested in buying a home in Canada and want to experience real estate investing firsthand, Contact for detailed discussion. Khush Dhillon 604.339.7727

BC real estate emerges unfazed from the economic slowdown!