Mortgages by Baval Sandhu

Aside from increasing your income, paying off your existing debt is the best way to maximize your mortgage affordability. This includes cars loans, credit cards, and any other credit line with regular payments. By paying as much of your debt off as you can, you'll have a higher income-to-debt ratio when you apply for a mortgage. Call or DM with question, Baval Sandhu 604-704-4155

The housing market is pretty crazy right now filled with multiple offers, high prices, and bidding wars. I am seeing many people bid $200,000 over asking at the moment! During this low supply of homes, people are getting really desperate and going property to property.. putting offers in.. only to find themselves SETTLING and OVERPAYING in fear of losing out! A piece of advice if you are finding yourself in this position: -Really look at the NEEDS and WANTS out of the propert...y in question -Make a CHECKLIST/ must have list of all the requirements that are important to you -Be LOGICAL... Don't let emotions override your financial decisions -Work with the RIGHT professionals who TRULY CARE about you Text me with questions about the process, Baval Sandhu

Keep in touch with your LENDER! Home buyers should maintain communication with their lender and supply all necessary documentation to keep the mortgage underwriting moving along smoothly. For those who have been impacted by COVID_19, consistent engagement with their servicer can ensure their credit is protected and that no late fees are charges -- important factors that may impact future mortgage transactions.

Before you sign your mortgage renewal slips, reassess your financial goals!! You want to be sure your current provider can offer a mortgage product that suits your needs. For eg. if your current term is 5 year fixed rate, consider a 3 yr if you are planning to downsize, or move cities, or to different neighbourhood. Also consider how extra finances (like an good time to see if refinancing or getting HELOC to access your equity is a good goals wisely! DM or Call me to discuss ...your options for mortgage renewal! Baval Sandhu 604-704-4155 See more

IT'S ALL ABOUT PROPERTY! When applying for mortgage, lenders not only look at you, but also the property in question! Applications can also get denied just based on property! 3 main things to consider about property:... 1. TYPE OF PROPERTY! buying a condo, heritage home, additional units, commercial property, leasehold, coop properties? They all have different criteria for approval! 2. LOCATION! Lenders consider the resale value of property, and what purpose it is being bought for eg. for a rental unit, lenders check its potential for rental income, or if its in a rural area with limited access, lender risk goes up 3. USAGE! what will the property be used for? personal, investment, recreational, agricultural-they all have different risks and criteria involved You don't have to figure this out by yourself! Call or DM me for any questions! 604-704-4155

If you want to pay off debt, start by paying less interest! Why do most people think debt consolidation is a dirty word? People love to pay off their mortgage balances faster (which is a good thing) BUT we are carrying other debt like car loans, unsecured lines of credit and credit card balances.... WHY? Why pay a cheap interest debt like a mortgage but carry the 20% interest payments? Stop and think... do I have some equity in my home? Then ask, do I owe more than $20,000 or $30,000 in other debts? If so, then start saving money immediately! House prices are at an all time highs and mortgage rates at a record low. Understand how to use the equity to pay off high interest debts! Review your options. Your best interest is my only interest. Buying, refinancing or renewing your mortgage? Contact me for the best rates and terms. 604-704-4155

Try to pay more of your mortgage each month. By paying more now, you'll save money in the long run. Increase your regular payment amount even by $20-25/month. Example, pay $675 rather than $652 Make LUMP SUM payments to your mortgage principal. An extra, $1000 here and there can make a big difference.... Make ACCELERATED payments. Instead of making 2 payments per month (24 per year), make payments every two weeks (26 per year). Speak to your mortgage PROFESSIONAL about other options. Call or DM me to explore your options! 604-704-4155

ARE YOU IGNORING LOAN PENALTIES? Big mistake! Most Canadians choose five-year fixed rate mortgages for their safety and security, but did you know that they often to come with the highest mortgage penalties of all? The big banks tend to have the highest penalties of all! If you think there's a chance you could break your mortgage, it could be worth choosing a mortgage with a slightly higher rate and lower penalties...... Call or DM to discuss your options from refinancing to buying investment property.. all questions welcome! Baval Sandhu 604-704-4155

When you're applying for a mortgage, banks wants to see a stable income coming in every month- for proof you can make payments! With covid, stability of your income is even more important now - you DON'T want to take out a mortgage just before you lose your job! If you're part time, think of getting a permanent position. If you're applying for the mortgage with your partner, ideally you would both have full time jobs. If you are SELF EMPLOYED- work with a good mortgage broker...! DM or call me for any questions! Baval Sandhu 604 704 4155

75% of Canadians choose fixed-rate over variable-rate mortgages because they want "peace of mind" of paying the same every month and rate not changing on them... but do they have the full price? And what is best for you? As a home buyer, having a fixed-rate mortgage may cost you more down the line so you need to educate yourself and understand the pros and cons of each rate options before you put your blind faith in your local bank- remember that they make money from mortgage... penalties!! A rate that can not control may seem more costly at first however, many home buyers have leveraged variable rates into their strategy and have benefited because their life journey is not fixed. Call or DM me for any questions around which rate would be best for your individual case! 604 704 4155 Baval Sandhu

A Bank of Canada study found that using a broker usually results in getting a lower mortgage rate than the big banks. This is because brokers have access to multiple lenders- therefore having access to multiple (and more) competitive quotes. If you're still felling a sense of loyalty to your bank, consider this: the same Bank of Canada study discovered that existing bank customers may not get as good of a deal than if they were to approach a different bank as a new customer. ...Translation: If you're looking for the better deal, consider switching from bank to broker! Call or DM to discuss your options 604 704 4155 Baval Sandhu

DON'T LEAVE YOUR RENEWAL TO THE LAST MINUTE! Ideally you'll want to start the process 4 months before your renewal date. This will give you enough time to do your mortgage homework. Because the more prepared you are when it comes time to meet with your current lender, the better position you'll be in to decide whether you should renew with them or take your mortgage business elsewhere. An even better idea is to just use a Mortgage Broker for the best options. A Mortgage Brok...er already knows the best rates and options from all the different banks and lenders! Call or DM me to discuss your options 604-704-4155 Baval Sandhu

Another happy client in surrey, got his mortgage approved. Looking for new mortgage or refinance? Call today to inquire @ 604-704-4155.

There were 510,530 mortgages on payment deferral at the end of Q3 2020, down 17.53% from the previous quarter.

Our happy client in Abbotsford , got his mortgage approved. Looking for new mortgage or refinance? Call today to inquire @ 604-704-4155.

BUY A HOME NOW, NOT LATER! If you're on the fence about buying your first home. It is always a good time to get into the market. Especially now when it's so cheap to borrow money! Don't wait for prices to drop.... Because yes, prices drop for a little bit, but in the long run, real estate prices can only go one way, and that's up! Way Up! It's simple supply and demand. The supply of land will always stay the same, the demand goes up as population grows. And Vancouver being one the greatest cities in the world, the whole world wants to be here, making the population rise faster than ever. SO, BUY NOW DON'T WAIT! Call me for any question regarding mortgage. 604-704-4155

My favorite word is "YOU ARE APPROVED" Another happy client in surrey, got his mortgage approved. Looking for new mortgage or refinance? Call today to inquire @ 604-704-4155.

GREAT NEWS! Effective Monday August 17, 2020, the Bank of Canada 5-year Benchmark Qualifying Rate is 4.79%.

Our happy client in surrey, have got his mortgage refinanced. Looking for new mortgage or refinance? Call today to inquire @ 604-704-4155

CHECK YOUR CREDIT AND AVOID ANY NEW ACTIVITY! When applying for a mortgage loan, your credit will be a key factor in whether you're approved or not! So check your credit before starting the home buying process. Dispute any errors that could be dragging down your credit score and look for opportunities to improve your credit!... To keep your score from dipping after applying for a mortgage, avoid opening any new credit accounts, like a credit card or a new car loan, until your home loan closes! Call me if you have any questions 604-704-4155.

Another happy client in surrey, have got his mortgage approved in 2 days. Looking for new mortgage or refinance? Call today to inquire @ 604-704-4155.

One of our happy client in abbotsford, have got his mortgage approved. Looking for new mortgage or refinance? Call today to inquire @ 604-704-4155.

THE BIG BANKS ARE NOT FOR EVERYONE! Just because you see the names of the top banks (BMO, CIBC, TD Bank, etc..) everywhere and all the time doesn't mean that's the best option for you. Don't get fooled by marketing dollars and advertising. Not everyone fits into the box that these banks try and squeeze you into.... i have made relationships with lenders that look each person on a case by case basis. More options = Better rates! If we feel that the big banks is the best option then we will go that route. That is why you work with a mortgage broker like myself to help you figure it out at no cost! Call or DM me to discuss your options 604-704-4155