RobertMogensen.com
560 - 171 West Esplanade V7M 3J9 North Vancouver, BC, Canada

Fractional Home Ownership

Robert is a Mortgage Broker

NEWS - Vancouver Market on Fire

Canadian Rates are literally at record lows ... but in Denmark ...

NEWS - Increased Condo Rental Supply

NEWS - Foreign Home Buyer’s Tax

Such a nice surprise getting a Thank-you Gift from happy clients! So glad to be of service G & R! Hope you enjoy your new home!! #metropolitanchef

If you’re 55 or over, as a Certified Reverse Mortgage Specialist, I may help you during these challenging times to access the equity in your home. Use this money for general expenses, renovations or to help a child with their own home purchase, all completely tax free. Call to discuss with no obligation any time. 604.802.8193

Nearly 9 months working exclusively at home. Although I miss my colleagues, and the face to face with my clients, business has been surprisingly as usual if not quite serene. If your work at home situation has you thinking about a different abode or locale, now’s the time to talk about those possibilities. 604.802.8193

Sales Continue to Surge

Real Estate Surpasses Pre-Covid Levels

Home Sweet Home

July Home Sales

The HSBC saga continues.

Deferring Mortgage Payments.

Socially Distanced Banking

Always call a Licenced Mortgage Broker

NEWS - Yesterday afternoon, CMHC announced changes to its mortgage insurance underwriting and acceptance criteria. Effective July 1, the following changes will apply for new applications for homeowner transactional and portfolio mortgage insurance: The maximum gross debt service (GDS) ratio drops from 39% to 35%. The maximum total debt service (TDS) ratio drops from 44%to 42%. The minimum credit score rises from 600 to 680 for at least one borrower. See the complete press release below or call me for more details and how this may effect your buying plans.604.802.8193

HSBC - Part of Hong Kong’s Problem?

NEWS - May Housing Sales

Always here for you.

Great new listing! Call Joanne for more details!

Benjamin Tal - I’ve followed this CIBC Economist for 17 years now, and he’s usually extremely accurate.

Income Qualification during the COVID19 Crisis People have been asking me how the current situation is effecting their ability to buy or refinance real estate. Below is a typical guideline on Income Qualification from one of Canada's major lenders. This is fairly typical but if you'd like specific information please call or text me anytime at 604.802.8193. I am always here to assist you in any way I can. "To support customers who may have income temporarily impacted by COV...ID-19, we will honour approved conventional and insured mortgage applications (both purchase and refinance) if the following criteria are met: For Purchase: The mortgage application was approved as of March 25, 2020 The borrower has entered into a legally binding Purchase and Sale Agreement and waived financial conditions as of March 25, 2020 The closing date (for purchase) is on or before September 30, 2020. For Refinance: The mortgage application was approved as of March 25, 2020 We are currently reviewing ways to support customers whose income is impacted but do not meet the above criteria. We will provide further guidance on how we can help these customers soon. Additional Information These criteria apply to both conventional and insured mortgages. If a mortgage application meets the criteria above, the income used to qualify will be used. A resubmission is not required, unless a material change has been made to the application. Income confirmation requirements still apply, based on income prior to disruption. If the criteria above are not met, adjudicate the file based on current income, until further advised."

NEWS - Bank of Canada Rate Cut & Payment Deferral Info

#SocialDistancing 101

Rates, Refinancing and Relief - The Effects of COVID19

NEWS - Mortgage Relief

Significant pro-active steps for homeowners who (primarily, but not exclusively) purchased with less than 20% down and are thus theoretically at greater risk for immediate financial strain. Please contact your lender and insurer representatives directly (on Monday) for more details about the process of qualification for this program. There does not appear to be information on the insurers websites about this yet. ... The main point is that the economic impact of even just the last ten days turmoil is not being overlooked and action is being taken swiftly. #businessplanning #canada #coronavirus #covid19 #mortgage #broker #mortgagebroker

NEWS - For Home Owners with High Ratio Mortgages CMHC & Genworth announcement for homeowners. ( Primarily, but not exclusively ) who bought with less than 20% down. A program is being created to defer payments for up to 6 mos with possible tools including:... 1. Payment deferral 2. Re amortization of the loan 3. Capitalization of outstanding interest and cost 4. Special payments Please contact your lenders directly.

NEWS - The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 percent. What this means to you is that if you have a Variable Rate Mortgage or Lines of Credit, assuming the major banks follow the BOC lead, you will save .50% as well. If you'd like to know how this may effect your mortgage solutions, reach me directly at 604.802.8193 or FB Messenger

NEWS - A minor tweak to the Mortgage Stress Test on CMHC Insured Mortgages 604.802.8193

For a #BirdsEye #View of the best mortgage for you, just call me. It's really just that #easy! 604.802.8193

In BC at least, the First Time Home Buyer Incentive Program is a bust.

For a better solution, call me at: 604.802.8193

Ready to make an offer?

Unconditional Offers - Caveat emptor.

Vancouver Real Estate NEWS

Mortgages for New Immigrants, New Parents, and First Time Buyers - 604.802.8193

Stress Test Relief ?

A possible solution?

The BC Assessment Home Values are out.

Let’s get that Pre-Approval Ready

Fixed Rates are on the rise. If you are looking to refinance or buy in the next 120 days, call or email me today to protect your rate! 604.802.8193 [email protected]

My Latest NewsLetter is Here

Real Estate Balancing Act

Car bad. Transit good.

Borrower Beware

$$$ Overlooking that small bill can cost you.

NEWS - Bank of Canada Holds Prime Rate Steady ... your Variable Rate Mortgages and LOC rate remain the same.

It's Not All About the Lowest Rate

Who Owns this Home?

Real Estate NEWS - It’s a Buyers Market

Are you really Pre-Qualified?

Please check out my October NewsLetter right here!

NEWS in the ‘Hood - Cheers

Rates and Home Prices

Enhanced First Time Buyers Program for Vancouver and Victoria

Mortgage Rates & Refinace

Empty Homes - Canada vs USA

Real Estate Sales Projections are Up

Deposit Financing robertmogensen.com

Title Insurance - Now You Know

My August Newsletter is Here.

‘Tis a Buyers Market

Mortgage Stress Test - Slight Relief

Vancouver Condos

Stress Test Consequences