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This is the first post in a series of videos with tips for First Time Home Buyers in Vancouver’s property market.

So you’re thinking of taking the plunge and buying your first home in beautiful Vancouver!

How much can I spend? Get Pre-Approved!

If you have several hundred thousand dollars in your bank account, great!

If not, you should speak to your bank or a mortgage broker to find out how large of a mortgage you can get. The bank or broker will give you a mortgage pre-approval which is a rough estimation of what you can borrow. This mortgage pre-approval is based on the information you provide the bank or mortgage broker. Remember, the more accurate and detailed the information you provide, the more accurate the pre-approval amount!

Here’s a list of mortgage brokers who can help you with a mortgage pre-approval:

Chad Watts 7787736631 cwatts@mortgagegrp.com

Rino Revel 604) 816-1976 rinorev@telus.net

Karli Shih karlishih@gmail.com 604-992-9891

Jessi Johnson (604) 716-6474 jessi@jessijohnson.com

Want to learn more about mortgages and real estate financing? Check out the videos on Vancouver Real Estate and Mortgages!

Now that you know what you can spend, its time to figure what that money can buy. Be sure to Check out Episode 2 of the Vancouver First Time Home Buyers Guide – Where to Buy!

If you have any questions, feel free to contact me at any time!

Hi All,

I’ve mentioned in other blog posts that I think Inflation may to be an issue in 2-3 years because of ultra low interest rates and Stimulus packages from National Governments around the world.

I’m going to buy more real estate (Downtown condo’s and a house in East Van) and I’m going to get 5 year fixed rate mortgages to keep my payments (costs) consistent and then rent these places out. Inflation should push up rents while my costs remain static, leaving me with a nice profit. (hopefully)

I plan on getting 4% 5 year fixed rate mortgages. I like these because a decent amount of principal gets paid off and the costs remain low.

I’ve included this cool mortgage calculator and this inflation calculator from the Bank of Canada for you to play with and hopefully help you with your plans.

I’d love to hear your thoughts!