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Did You Know?

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  • Your down payment can be gifted from a family member.
  • The down payment may be borrowed as long as you can service the debt.
  • You may include home renovations in your mortgage purchase or refinance.
  • If the home you are purchasing has a legal suite, you may be able to add 50% (or potentially 100%) of the rental income to your total income for qualification
  • Many mortgages are portable to another home should you choose to move.
  • Some mortgages are assumable by a subsequent purchaser.
  • Investment, pension, disability, child support, and rental income are all acceptable sources of income for mortgage qualification. Some lenders will also accept child tax credit, spousal support payments and foster child income.
  • Most mortgages can be paid monthly, semi-monthly, (accelerated) bi-weekly or (accelerated) weekly.
  • Some lenders offer cash back incentives, however they can no longer be used towards the downpayment.
  • Getting pre-approved before shopping for a home secures a mortgage rate for up to four months. Should rates increase during that time you are protected. Should rates decrease you will receive the lower rate.
  • When your mortgage is coming up for renewal you may shop the market and secure a rate four months in advance.
www.christinebuemann.ca
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Location: 1338 Central St E, Prince George, BC V2M 3C1, Canada

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