20 Feb

The Clock is Running Out on 35-year Amortizations

General

Posted by: Randy Johnson

In less than 20 business days, 35-year amortizations and 90% loan-to-value refinances will disappear from the high-ratio insured mortgage market. (See: New Mortgage Rules Now Official.) Well-qualified borrowers will then notice a big jump in mortgage rates for high-ratio 35-year amortizations and 90% Loan-To-Value refinances. That’s because they’ll only be available on pricey uninsured mortgages after March 17. If you’re thinking of applying for either of the above, do it soon to ensure you’ve got a firm lender (and insurer) approval before the deadline. Remember, if you want to refinance a prime mortgage to 90% LTV and/or get a high-ratio 35-year amortization, you need a written commitment from a lender by March 17. If you’re purchasing, you also need a signed purchase agreement dated before March 18. Call me to discuss. Randy

11 Feb

Next Week – Real Estate for Home Owners & Buyers – Vancouver School Board

General

Posted by: Randy Johnson

This is 2 night seminar, next Thursday at John Oliver High School at Fraser & 41st.  We have an trusted, experienced realtor, and an enthusiastic home inspector.  Yours truly will chat about mortgages including the new mortgage rules, fixed vs. variable, money-saving types, pitfalls to avoid and lots more.  It will be nowhere near as ‘dry’ as one may think.  🙂

 

Real Estate for Home Owners & Buyers – Vancouver School Board

A house or apartment purchase may likely be the most important purchase you will make. The mortgage industry is an increasingly complex one, with a myriad of mortgage products available in the marketplace as well as dozens of lenders, many who do not work directly with the general public. Are you aware of and do you understand all of the available options? We will cover a variety of residential mortgage and property topics for both owners and investors, money saving tips and pitfalls to avoid.  We will also deal with the new mortgage rules and their affect on buyers.  Three top professionals will guide you through their area of expertise – mortgages, real estate and home inspection.

This course can save you money and provide you with useful information to make your purchase less stressful.

The course is intended for existing owners, first time buyers and investors who are looking to purchase one or two residential rental properties.  It is not for commercial or sophisticated investors.

We constantly receive enthusiastic feedback from the vast majority of participants. Some of the comments from past attendees include:

True information on buying and mortgaging, very thorough,
very comprehensive, instructors – all good mannerisms and demeanour,
very informative and easily understood,
excellent speakers – very knowledgeable in their respective fields,
well presented, would recommend this class for future real estate investors or current owners,
very worthwhile course, great information & good handouts,
explained mortgage options and pitfalls, learned a lot about the topic,
thank you for an informative class- great course, I really enjoyed this,
very informative (lots of info),
honest insights from real experts, thorough information,
people with first hand experiences sharing their knowledge,
professionals of the industry,
very helpful advice,
very personable – all were easy to ask questions,

When: Thursday February 17th & 24th 2010,  6:30 to 9:30
Where:  John Oliver High School,
Cost:  $79.00
Phone:  604-713-4550
Course ID: JO 18394