Cori McCaw

Are you planning or does anyone you know plan on buying a home with a 5% down payment? There is information coming from CMHC that the minimum down payment requirement could be increased from 5% down payment to 10% down payment. Time will tell, but often this information is not released lightly unless the changes are coming, so a head's up! This will limit many home buyer's ability to purchase if these changes do happen and could potentially slow the real estate market further. https://www.cmhc-schl.gc.ca//supporting-financial-stabilit

Money and Finances are often among the most difficult and stressful situations in our lives. How are you doing? Do you need to chat about what's happening in your world? Do you need some access to resources, advice, options? Please feel free to reach out. I'm here as a support if you'd like to have a no obligation conversation.

Many people are wondering if they should defer their mortgage payments. A colleague has created a video that is worth the watch and may provide you some clarity, If you would like to review your situation, have questions, or discuss potential options for you, please reach out. I'm happy to help in any way I can during this difficult time. https://vimeo.com/399589470

Friends, I realize this is a scary time for everyone, but it's important to keep the money flowing. The Banks are going to have a major liquidity crisis with s...o many people deferring their mortgage, loan and credit payments. Money can't go out if there is no money coming in.... They are requesting that if you CAN, please continue to make your payments. This is not an opportunity to have a "mortgage vacation", the money WILL have to get paid. Property Tax payment and insurance payment portions will still have to be paid and not deferred. The interest will get added to the balance and the amortization will likely get adjusted. Also, if you are a Tenant and not in financial hardship, please pay the rent to your Landlords, so they can make their mortgage payments. So please, if you are in a position to make your payment, do. Leave the help for those who are really in a position of need at the moment. Thank you. See more

The Government announced some amazing programs and reliefs to help Canadians get through this crisis. Here is a synopsis of what is to come. Please keep your eyes open for additional details to be announced... https://www.canada.ca//canadas-covid-19-economic-response-

Please share so that your friends have the information: The Government, Banks, Financial Institutions, etc are offering assistance to help everyone get through the Covid-19 crisis. If you will have difficulty paying your mortgage or credit facilities, please reach out directly to your financial institutions for help and support. Here are their customer service numbers. Please let me know if I can be of personal assistance. If your Lender is not on the list, connect and I'...ll source the information for you. ATB 1-800-332-8383 B2B 1 800 263 8349 BMO 1-877-895-3278 Bridgewater 1-866-243-4301 CIBC 1-800-465-2422 CMLS 1-888-995-2657 Optimum 1-866-441-3775 Equitable 1-888-334-3313 Connect First 403-736-4000 Chinook Financial 403-934-3358 First Calgary Financial 403-736-4000 First National 1-888-488-0794 Haventree 1-855-272-0051 Home Trust 1-855-270-3630 HSBC 1-888-310-4722 ICICI 1-888-424-2422 Manulife 1-877-765-2265 MCAP 1-800-265-2624 Merix 1-877-637-4911 Marathon 1-855-503-6060 RBC 1-866-809-5800 RFA 1-877-416-7873 RMG 1-866-809-5800 Scotia 1-800-472-6842 Servus 1-877-378-8728 Street Capital 1-866-683-8090 TD 1-866-222-3456

Thank you to Alicia Loewen from Deximal Accounting Inc. for this information about using RRSP contributions to purchase a home! There are only a few days left for contributing to the 2019 year....

Good News! The Finance Minister and Government of Canada have reviewed the Stress Test Qualification Policy and come April 6, we should see a decrease, which will help with purchasing power. Maybe a drop to 4.79% - 4.89%, instead of the current 5.19% rate. Changes in rates will make this number fluctuate a bit, depending on the rates of the moment. If you'd like more information, please connect with me! https://mailchi.mp/dominionlending/e3es7zpv71-410655

Mortgage rates have been dropping the last few weeks and there is potential that we could see a reduction in the Mortgage Qualification Stress Test. OSFI is currently reviewing the policy and if the big banks all drop their 5 year fixed posted rate, it might get a little easier! Fingers crossed... https://www.canadianmortgagetrends.com//td-bank-cuts-its-/ https://www.canadianmortgagetrends.com//are-changes-to-t/

Happy New Year! Cheers to a New Decade and a Fresh Start. I hope everyone had a wonderful holiday season. May 2020 bring you abundance. May your home be filled with the love and joy of family and friends. May you have good health and wellness. May prosperity come your way. Choose to spend time with those who enrich your life and choose to be kind to and generous with others. Here's to 2020!

Every year, I am connected to an amazing team of volunteers who dedicate their time and skills to help with the Toys Toiletries & Toques Fundraiser. I am grateful that they stand with me each year to ensure that so many families have a brighter Christmas because of our efforts. Tomorrow is the big day and I wish you all love, peace and happiness and may you have beautiful time with your families over good food and cheer. <3 Merry Christmas Everyone!

As a proud founding member of the Annual Toys Toiletries & Toques Fundraiser, I would love your help, as would 1000's of families in the Cowichan Valley who will benefit from your generosity. This is our 9th year and we want it to be bigger and better than ever! How can you help? - Make a donation - an item for under the tree or cash, which will be used to purchase experience tickets for families to have some family fun. We have 26 drop off locations throughout the Valley tha...t are collecting until the morning of November 30. Please see the attached poster. - Visit us on Saturday November 30, outside Walmart at Cowichan Commons from 11-3 in Duncan. We have an awesome gourmet hot dog sale and Pictures with Santa!! Bring your own camera for a minimum $5 donation, you can take some lovely photos... dogs welcome too. :) - Are you a business and want to create a challenge - make a cash donation and challenge other business to match or beat your donation! - SHARE this post ad our event and donation request! - The the page and share it! - Invite people to our event! Let me know if you have any questions, I'd love to see you all next Saturday! See more

This is a good read for parents considering putting children on title to their home. Many things to consider. Thanks to Cory Towriss Law for sharing!

Is your mortgage with one of the big banks? This is worth a read! https://www.msn.com//big-bank-mortgages-are-co/ar-BBTii1i

BC Property Owners! If you own property in the following areas, but don't reside in it or have it as a long term rental, you could be subject to the new BC Speculation and Vacancy Tax. You need to complete a declaration annually! Capital Regional District, Metro Vancouver Regional District, Salt Spring Island, Juan de Fuca Electoral Area, Gulf Islands, Abbotsford, Mission, Chilliwack, Kelowna, West Kelowna, Nanaimo and Lantzville https://www2.gov.bc.ca//proper/speculation-and-vacancy-tax

I have organized the Toys Toiletries & Toques fundraiser for the last 8 years, in fact, I'm the founder! I would so appreciate if you can help out in any way. If nothing else, please share to expand our reach of views. Let's put more smiles on family faces on Christmas morning! <3 Photos with SANTA by donation and gourmet hot dogs! Yum! If you can't attend, but would like to help, we have a secure online donation link through PayPal on our website. https://www.toystoilet...riestoques.ca/donate #TTT2018Cowichan See more

Most people have something in their life that means a great deal to them. Whether it's their "why" or feel they just need to give back. Toys Toiletries & Toques is a combination of both for me. Every year I look forward to the way it fills my heart, knowing that the effort I put in makes a difference to thousands of families. <3

This is really great advice! Thanks Jane. We don't know yet how the new Cannabis laws will effect the sale of real estate when it comes to property disclosure and the vast majority of Lenders are not willing to lend to on properties where it has been grown.

Have you or anyone you know been impacted by the Stress Test?

I'm one of the organizers for the Toys Toiletries & Toques Fundraiser and we're in our 7th year. This is the first year we're doing a Burger and Beer Fundraiser and we'd love to see it packed out to make sure we're raising as many dollars as possible. Please join us for dinner this Wednesday at the CVI Lounge. Tickets are pre-sold, so get them now!

A great new guide for home buyers!

It's wonderful to be appreciated! Thank you to Maple Bay Marina for the referral of a lovely couple that I helped purchase a beautiful new float home! They were a delight to work with and I'm so happy they get to call Maple Bay home.

This is why it's important to have a Licensed Mortgage Broker on your side! We're here to educate and help you make the best choice when it comes to home financing. https://m.facebook.com/story.php?story_fbid=10158868566245103&id=813360102

Today's mortgage financing world has changed in the past 6 months. Here's a good explanation as to the type of mortgage you might qualify for.

This is a good article, it explains all the potential variations in Rates and products

Mortgage Default Insurance premiums are on the rise again. CMHC announced increases effective March 17th. We haven't heard from Genworth or Canada Guaranty yet, but typical they all choose to increase equally at the same time. So if you are purchasing with less than a 20% down payment, it just got more expensive. https://www.cmhc-schl.gc.ca//nero/nere/2017/2017-01-17-083

A new year brings new tax rules. Do you jump start on your taxes early? Here are some changes for this year. http://www.financialpost.com/m//personal-finance/blog.html.

Breaking News... The BC Government just released a program to help First Time Home Buyers with their down payment. We'll have to wait and see what insurers and lenders jump on board, but if all the details come together and work, it could get more buyers into a tough real estate market. Saving up the down payment is often the hardest part for home buyers. http://www.cbc.ca//b/interest-free-home-loans-bc-1.3897832

Cowichan folks, tonight is a great opportunity for a family fun night! Bring a non-food donation to the Cowichan Capitals Hockey Game and receive your admission tickets for half price. Intermission is full of magical fun with an Illusionist! It doesn't get much better - win win for everyone! Hope to see you tonight. The puck drops at 7:00 and doors open at 6:00.

Well, the US Presidential Election ended in a shock by many accounts. Here are some initial thoughts where finances will go. It'll be a wait and see game for a while. Good news for mortgage holders is that interest rates will probably stay low for even longer. Number 5 sounds great though... Mexico's warm sun and sandy beaches are screaming my name! http://www.theglobeandmail.com//goodbye-c/article32758085/

The new rules that the government announced this week could have a serious impact on the number of Lenders available to consumer and the products/rates they offer. Please tell the Government that more consultation is needed before these rules are put into place. Appropriate Insurers, Lenders and other housing affiliations were not consulted before these regulations were announced. So the impact it could create is potential more reaching than initially intended. Consumers should have choice and not be forced into certain bank products without the opportunity for competition and selection in the market. Please take a moment and sign this petition. Thank you. http://www.ipetitions.com//reconsideration-of-mortgage-rul

Here's an article that may help explain the new changes a little easier. This were just announced early this week, but the final details have not come down the pipeline just yet. http://www.ctvnews.ca//mortgage-rules-what-do-the-changes-

The Federal Government just released new mortgage rules today that come into place on October 17th, which will dramatically affect homeownership and qualifications for new mortgages. If you know someone looking to buy or refinance, please let them know to act soon (like right now!) For example: If someone had $1500 to go towards their mortgage payment, we could qualify them for $338,977 using a 5 year fixed rate of 2.39% and a 25 year amortization. The new rules must have them qualify at the Bank of Canada Benchmark rate, which is currenlty 4.64%. This drops their mortgage amount down to $267,245. A large drop in purchasing power. First time home buyers will be largly affected. http://www.fin.gc.ca/n16/data/16-117_2-eng.asp

Clients are generally responsible for paying for an appraisal if required and they always wonder why they can't have a copy of it if they paid for it. Here's a good article with the explanation.

Do you know someone who has a home affected by the Fort MacMurray Fire? Most Lenders have special help lines and programs in place for assistance. Please pass along my name and number 250-743-2674 or email [email protected] and I can provide the information they need. Better to make the call sooner than later!