Home Financing For First Time Home Buyer

August 15, 2008

katsure.jpgThings you should know about home financing for first time home buyer

Buying a home is exciting, but can also be a time of anxiety and apprehension. As a first time home buyer, there are many issues you need to address. It is advisable for you to work with a local real estate agent, and a mortgage broker to help you with your real estate needs.

You can discuss with your bank to find out how much you can be approved, or your mortgage broker can help you in selecting a mortgage that is right for you. You should have your mortgage pre-approved, before taking the next step in looking for a home to buy. Once you are pre-approved, you know for certain what you can afford.

Why Deal With a Mortgage Advisor?

There are many advantages working with a Mortgage Broker who are trained to provide you valuable advice. You have more choices and you can choose a mortgage plan most suitable to you. You will also get the most competitive mortgage rates and you save time shopping the mortgage yourself with different banks.

Choosing the wrong mortgage plan could be very costly to you. Should you choose a variable mortgage or fixed closed mortgage?

Currently variable rate mortgage is very attractive, but is this mortgage plan right for you? Click on this link to find out whether you should consider a variable mortgage.

Smart Mortgage Planning Helps You Save $$$

Most important of all, find out how your can pay off your 30 years mortgage in one-half the time by making the same amount of monthly mortgage payment. This is a big deal for any home owner… the mortgage interest you can save can be hundreds of thousand dollars!

If you like to find out more information on getting a mortgage, kindly contact me (Elsie Tse) at 604-716-3369 or Email Me 

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What is a Canadian Mortgage Bond (CMB)?

August 6, 2008


Canadian Mortgage Bonds (CMBs) are issued by the Canada Housing Trust (CHT), a part of Canada Mortgage and Housing Corporation’s (CMHC). Canada Mortgage Bonds Program was introduced in June of 2001.

CMBs are fully guaranteed by CMHC (a crown corporation of the Government of Canada).Hence, the guarantee  has the backing by the government of Canada. The benefit of CMBs to investors is in receiving higher interest rates than government bonds.

Canada Mortgage Bonds provide investors with an attractive fixed income investment opportunity featuring: semi-annual interest payments; repayment of principal at maturity and; a full timely payment guarantee by CMHC on behalf of the Government of Canada.

Canada Mortgage Bond – an internationally recognized program provides Canadians with both an attractive and secure investment opportunity. CMB is an important source of funds, and enhances the efficiency of the secondary mortgage market. This helps in lowering the cost of mortgage financing in Canada.

How CMB’s Work?

Canada Housing Trust sells CMBs to investors. CHT then uses these proceeds to purchase prime mortgages from “approved” lenders. These lenders then take these proceeds and lend them out as new mortgages all over again.

CMHC pioneered the development of the Canadian secondary mortgage market with National Housing Act (NHA) Mortgage Backed Securities in 1987. Since the introduction of the Canada Mortgage Bonds Program in June of 2001, CMHC has provided its timely payment guarantee for over $24 billion of bonds issued by the Canada Housing Trust.

Reference: CMHC’s CMB Program.

Kindly contact me (Elsie Tse) at 604-716-3369 or Email Me 

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