Private Client ServicesView new
REALTOR.ca!Not a member yet? Sign up now
for access to real-time REALTOR.ca listings.
Join Mike’s Insider List!
Learn about New Presale Condos BEFORE Anyone Else! Get Early Access to Insider Sales! Keep current with Special Promotions on New Developments!
Social Media Bar
Mike’s Real Estate Listings
509-53 West Hastings | Paris Block | Live Work Warehouse Studio | Downtown Vancouver West
Agent's Open on Friday, June 21st from 10AM-12NOON. Public Opens on Saturday & Sunday, June 22nd & 23rd from 2:00-4:00PM. To Schedule a Private Showing or Co... View Listing Details
304-1406 Harwood Street | Julia Court | West End | Downtown Vancouver Condo
This property was SOLD on June 3, 2013 for $650K. For more details about this sale, contact Mike at 604-763-3136. Looking for a LARGE PATIO & DIRECT WATER VIEWS in the West End? Loo... View Listing Details
703-1189 Howe Street | Genisis | Studio Suite | Downtown Vancouver Condo
Open House on Saturday, June 22nd from 2:00-4:00PM and Sunday, June 23rd from 12NOON-2:00PM. Call Mike at 604-763-3136 to Confirm an Open House or to Schedule and Appointment for a Private Showi... View Listing Details
3343 Mountain Hwy | Village on the Creek | North Vancouver Condo | Lynn Valley
This property SOLD on June 4th, 2013 for $365K. Call Mike for full details: 604-763-3136. Welcome to Village on the Creek. A great family & pet friendly complex centrally located within walking distance of Lynn Valley Elementary, Arg... View Listing Details
309-27 Alexander | The Alexis | Heritage Loft Apartment | Gastown | Downtown Vancouver
Open House on Saturday, June 22nd from 2:30-4:00PM and Sunday, June 23rd from 2:00-400PM. Call Mike to confirm an Open House or to schedule a private showing: 604-763-3136. Price R... View Listing Details
414-1040 Pacific Street | Chelsea Terrace | West End Condo
Open House on Saturday, June 22nd from 2:00-4:00PM. Call Mike to confirm an Open House or to schedule an appointment for a private showing. PRICE DROP! Welcome home to this immaculate suite at the solid Chels... View Listing Details
202-3089 Oak Street | The Oaks | Fairview | Vancouver West
This Property SOLD on May 3, 2013 for $450K. Call Mike for more details: 604-763-3136. Enjoy a HUGE 520sf North facing patio at the Oaks in Fairview. This bright, private and quiet suite DOES NOT face Oak Str... View Listing Details
401-1238 Homer Street | Grafton | Yaletown Condo | Downtown Vancouver
Call Mike at 604-763-3136 to schedule and appointment for a private showing. Reduced to Sell! Welcome to the Grafton, a unique Yaletown loft with heritage-style concrete & steel construction. ... View Listing Details
1909-5288 Melbourne Street | Collingwood | Vancouver Condo
Call Mike to Confirm an Open House or to Schedule an Appointment for a Private Showing. Price Reduced! Welcome home to expansive and unobstructed views of the North Shore Mountains at Emerald Park Place Sub-... View Listing Details
404-3161 West 4th Avenue | BRIDGEWATER | Kitsilano
Open house on Saturday and Sunday, June 22nd & 23rd from 11:30AM-1:30PM. Call Mike (604)763-3136 to confirm an Open House or to schedule an appointment to view privately. New Price! Welcome home to 10’ ceilings and a bright southern exposure and 2 pa... View Listing Details
- 1033 Marinaside Crescent Condo
- 1067 Marinaside Crescent Condo
- 1082 Seymour Street Condo
- 1372 Seymour Street: The Mark
- 821 Cambie Street Condo
- 1438 Richards Street Condo
- 1040 Pacific Street Condo
- Vancouver West Side Real Estate
- Vancouver Real Estate Team
- Vancouver Real Estate Advisors
- West Vancouver Home Search
- Chinatown Presale Condos
- Contract of Purchase and Sale | BC Real Estate Offers Explained!
- Downtown Vancouver Pre Sales
- Expired Listings in Vancouver Explained!
- Fairview Pre Sale Condos
- First Time Home Buyers Advice for Vancouver
- For Buyers
- For Sellers
- How To Buy a Pre Sale Condo in Vancouver
- How to Sell a Revenue Property in Vancouver
- How To Sell A Vancouver Condo
- Kitsilano Presale Condos
- MLS Listings
- Mount Pleasant Pre Sale Condos
- New Vancouver Condos
- Real Estate and Mortgage Calculators
- Real Estate Board of Greater Vancouver (REBGV) Monthly Sales Statistics
- Southeast False Creek Presale Condos
- Taxes on Real Estate in Vancouver
- Vancouver Condo Pre-Sales
- Vancouver Condos I Like
- Vancouver Real Estate and Mortgage Financing
- Vancouver Real Estate and Taxation
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- August 2008
Category Archives: Vancouver Real Estate and Mortgage Financing
CMHC Mortgage Insurance Explained by Jonathan Fung Vancity Mortgage Specialist!
What is CMHC Mortgage Insurance?
To answer this question, I recently met with Jonathan Fung, a mortgage specialist with Vancity who was kind enough to discuss CMHC mortgage insurance with us.
What is CMHC Mortgage Insurance?
CMHC stands for Canada Mortgage and Housing Corporation, which is a Crown Corporation owned by the Federal Government. One of CMHC’s core functions via its Mortgage Insurance is to assist illegible buyers purchase a home in Canada with less than a 20% down payment.
Lenders and Financial Institutions view property purchases with less than a 20% down payment as higher risk of default (ie Borrowers not paying their mortgage). Without CMHC mortgage insurance, lenders typically will not lend to borrowers with less than a 20% down payment.
CMHC insurance is available and required anytime a purchaser wants to buy home in Canada with between a 5% and 20% down payment. CMHC Mortgage Insurance does not insure property purchaser, but rather the financial institution where the purchaser is borrowing the money. CMHC Mortgage Insurance insure the lender so that if the borrower doesn’t pay their mortgage, the lender gets their money back.
Whats the Catch with CMHC Mortgage Insurance? Continue reading
July 2012 Canadian Mortgage Rules! 25 Year Amortizations for Insured Mortgages Only & CMHC Insurance for Homes over a Million Gone!
New Canadian Mortgage Rules Come Into Effect July 9 2012
This move continues the theme of the 2011 mortgage rule changes were the Federal Government does a focused cooling of the housing market without resorting to raising interest rates which would have a negative impact on the overall economy.
What are the Changes in Canada’s Mortgage Rules?
The four major changes effective July 9, 2012 are as follows: Continue reading
Financial Leverage and Presale Condos in Vancouver
I LOVE Questions and Comments on my blog posts and appreciate them HUGELY!!
We recently had a great question (Thanks Again Florin!) in the comments section of Episode 2 of How to Buy a Presale Condo where we discussed the advantages of pre-construction condos for Owner/Occupiers.
This question was SOOOO GOOD, I decided to bring in a mortgage broker, Chad Watts and shoot an entire video on this topic!
I asked my mortgage specialist about point 3 “Financial Leverage.” The one where you mentioned “buyer who previously was a high ratio borrower to become a low ratio borrower” if the property value goes up. She told me that this in not the case anymore. The bank will only base the financing on the purchase price of the home. Is this correct and if so is this true to all banks?
The mortgage specialist Florin spoke to is right.
There are rules restricting lenders from giving a mortgage on the actual market value of a presale condo if it has gone up in value from when it was purchased pre-construction to when it completes.
BUT, this does not mean the buyer of a presale condo in Vancouver cannot leverage the increase in value of the property between the time of purchase and the completion date.
Can a Presale Bought High Ratio be Completed on Low Ratio? Yes, in a Roundabout Way!
This only works when the presale Continue reading
Canadian Mortgage Calculator for Vancouver Real Estate with Amortizations up to 40 Years
I am both a property owner in Vancouver and a Realtor. I am constantly watching the mortgage market here in Canada to see how changes to mortgage interest rates and amortization affect both the Vancouver real estate market and my personal Continue reading