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Welcome to my "Vancouver Home Mortgage" website My name is James Wong. I am a Mortgage Advisor with The Mortgage Group in Vancouver, B.C. I hope you will find the information here useful. Owning a home is a major financial commitment for any homeowner. When you understanding how mortgage works, you are better prepared to manage your money. If you have a good "mortgage repayment plan", you can save thousands of dollars in mortgage interest payment. We deal with all the financial details to secure you the best possible mortgage and take care of all the paperwork to get your loan approved. We source competitive interest rates and mortgage products from national financial institutions. As a dual-licensed Mortgage Advisor and Realtor with over 19 years experience, I have the complete solution to all your home financing needs. |
Current Canadian Prime Rate - 4.75%. First Time Home Buyer. 100% Financing or $0 Down payment . 95% Financing self-employed mortgages . 35 t0 40 years amortization mortgage . Variable or Fixed term at Prime less 0.6% to 0.75% |
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. Call me to pre-qualify for a mortgage, or . Find the mortgage that's right for your |
Recent Posts
- Second Mortgages And Hard Money Financing
- The End For CMHC 40 Years Mortgage
- Why Use A Mortgage Broker?
- Why The Mortgage Group?
- Ottawa to tighten mortgage rules
- Is this economy worse than past recessions?
- Bond Yields Going Up
- Canadian Bond Yield Up Across The Board
- Rate cut heralds ‘deeper’ financial downturn
- Variable Mortgage
Buy Or Sell First?
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There are many people who wanted to make a move from the home they owned to another they hope to own. But, most will need to free up their equity from their home as down payment for the home they wanted to buy. They need to figure out how much money they have after selling their home and what it will cost them to buy the next home. Read the story »
Buying With 5% Down Payment
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Buying a home with 5% down payment. This is the minimum requirement for a home buyer to qualify for a high ratio mortgage. A home buyer is also required to show he or she has her own savings to cover closing costs of at least 1.5% of the purchase price. Read the story »
Ottawa to tighten mortgage rules
Financial Post Published: Thursday, July 10, 2008.
TORONTO — The federal government has cracked down on the mortgage industry with new rules that will make it more difficult for consumers to borrow. But many market observers think it is too little too late.
One of the key measures is a requirement that all mortgages have at least a 5% down payment. Competition in the mortgage industry has allowed consumers to put zero money down on a home and still get a competitive rate.
The government’s other key measure is to introduce a stipulation that insured mortgage products have an amortization period of no longer than 35 years. In the past two years, the amortization period has stretched from 25 years to as much as 40, with some people suggesting a 50-year amortization was next. Read the story »
