26 October 2010

"If you have an existing mortgage you could be paying to much in interest" says Jared Dreyer AMP. Call our mortgage team today to see if reducing your mortgage rate by paying your bank penatly and reshopping your mortgage makes sense. Dreyer group will reshop your mortgage to hundreds of mortgage products across the country to secure you the lowest rate. Recently I saved a cleint $23,000.00, after they paid the $25,000 penalty! The client was in a 5 year fixed at 5.5%. We reshopped their mortgage and secured a rate of 3.44%. After paying out the penalty at their existing bank the client saved $23,000 over the term of the mortgage. Call our team to see if shopping your mortgage makes sense. 604 536-3802

26 October 2010

Dreyer Group Mortgages can council First Time Home Buyers on saving for a downpayment. In addition there are many programs for first time homebuyes to help with a downpayment. Dreyer Group can run scenarios on what you can affort and council you on credit criteria. "If you are a first time home buyer and you are renting, with todays low mortgage interest rates (3.44% for 5 Year Fixed and 3.34% for 5 Year fixed for mortgages over $500,000), there really is no reason to rent anymore" says Jared Dreyer, Indpendent Mortgage Broker in Vancouver and Fraser Valley.

Here is a great example:

If you purchase a condo for $250,000

You need to put a minimum down of 5% ($12,500) - this can come from RRSPs' gift or savings

Taking a 35 year amortization and a rate of 3.44%* (5 year fixed)

Your monthly mortgage payment would be $1035.64

*OAC

If you are a first time home buyer, find out how much you qualify for now. Call 604 649-5991 Dreyer Group Mortgage. Vancouver Independent Mortgage Broekrs

20 July 2010

The Bank of Canada raided its key interest rate by ¼% today. This has been the second increase in a row.

The Bank of Canada stated that the hike was a response to the slower than expected Canadian recovery as well as a weaker global economy and growth. Lenders are expected to increase prime lending rates by ¼% at some point in the near future.

This hike will affect variable rate mortgages tied to prime and Lines of Credit. Fixed rate mortgages are not expected to change.

Borrowers with good credit, qualifications and quick closes can qualify can get 4.05% fixed 5-Year rate.

Variable rate mortgages currently Prime -.60% for 5 Year.  3 Year Variable special is Prime -.70%

Have your client pre-qualified as soon as possible to secure their best rate and mortgage.

If you have any questions, please call me, I’m here to help you and your clients make smart decisions with financing options. 604 649-5991 Jared Dreyer, Accredited Mortgage Professional

06 July 2010

First time home buyers in Canada that acquire a qualifying home after January 27 2009 can claim a 15% non-refundable tax credit up to $5000 for a total maximum credit of $750.00 If a home is jointly purchased the total credit that may be claimed by all purchasers is $750.00 The unused portion of the credit can be transferred to a spouse or common-law partner. First time homebuyers can apply for this credit directly though their accountant.