Mortgages by Kuljit- South Surrey
#404-1688 152nd Street V4A4N2 Surrey, BC, Canada

Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues program of quantitative easing. The interest rates will be low for a while!

Hey guys, I had few questions from clients on #mortgage payment deferral for those who have been affected by #COVID19. I’ve attached customer service numbers for few lenders which you can call if they doing anything for clients. Keep in mind the lender will only offer this if your are not working and will ask questions. -What is a payment deferral... A payment deferral means that the lender allows you to have a break from your regularly scheduled principal and interest paymen...ts for an agreed-upon period of time. The interest on your mortgage loan continues to accrue but it is added to your outstanding mortgage principal instead of becoming due on your usual payment dates. Note that payment deferrals could extend the amortization period of your loan. However, once you are able to re-start a regular payment schedule, The lender can help you get your amortization back to where you want it to be by using one of your flexible prepayment privilege options. -Can you do interest-free payments... The lender likely will not offer interest-free deferrals since your affected by financial hardship due to COVID19 -Will this affect Credit Bureau... You should discuss this with your lender, but we expect the lenders to code the deferral so it will not negatively report or affect your credit #COVID19BC #mortgage #realtor See more

We’re still open currently assisting our clients working on deals or if anyone has a question...whether we are working from home. Here’s a msg from us so Stay Home, Stay Safe!... #mortgage #firsttimehomebuyers #refinance #realestate #realtor

Another rate cut... https://www.google.ca/amp/s/www.cbc.ca/amp/1.5512098

Governement of Canada introduces Canada Emergency Response Benefit (CERB) This will be a taxable benefit for $2000 month for up to 4 months which can apply to workers, contract or even self-employed affected by #COVID19. Here’s the link for more info... https://www.canada.ca//introduces-canada-emergency-respons

Another rate drop... https://www.google.ca/amp/s/www.cbc.ca/amp/1.5497098

Bank of Canada cuts key interest rate to 1.25% and may cut another quarter percent in April... https://www.google.ca//article-bank-of-canada-cuts-rates-/

The latest policy change: big banks are changing the rules for people with HELOCs...this is a big deal https://www.ratespy.com/got-a-heloc-your-mortgage-options-a

Bank of Canada raises key interest rate to 1.25%...http://www.cbc.ca///bank-of-canada-rate-decision-1.4490918

Still confused? Thinking of buying? Reminder again...Jan 1, 2018 Mortgage underwriting standards-Guideline B-20 update. Previously, borrowers making down payment less than 20% would under go the stress test (insured mortgages). Effective next year, down payment of 20% or greater (uninsured mortgages) will have to qualify based on the greater of Bank of Canada or their contract rate plus 2%. Something to keep in mind or wait and see... -Lenders will be under more scru...tiny around the loan-to-value ratio they give, meaning they don’t give out to much compared to home value. -Will some lenders make it a Dec 15, 2017 cutoff??? -Will rates rise??? -Will qualification for conventional mortgages continue to be based on a 25yr amortization in the long??? -Contact your broker now if you have any questions. Expect avg. Canadian home purchasing power to reduced by 15-20%. Here’s an example. #mortgage#surrey#vancouver#realestate#construction#firsttimehomebuyer#shetramortgage#finance#lamborghini#refinance#realtor#property#investment#goals#mortgages#yvr#dream#focus#mortgagebroker#build#mortgagerules#stresstest

Bank of Canada raises its key rate by quarter-point to 1%...https://www.google.ca//bank-of-canada-interest-rate-h/amp/