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Mike’s Real Estate Listings
17C 139 Drake Street | Concordia II | Yaletown Condo | Vancouver West
Open House this weekend August 23rd & 24th from 2-4pm. Call Mike at 604-763-3136 to Confirm an Open House or to Schedule a Private Showing. Welcome home to this spacious and bright SW expo... View Listing Details
108-788 West 8th Ave | La Fortuna | Fairview Condo | Vancouver West
Call Mike at 604-763-3136 to Confirm an Open House or to Schedule a Private Showing. Welcome home to a LARGE WEST FACING PATIO in Fairview! This spacious & immaculate move in ready 645sf 1 bdrm h... View Listing Details
Sub-Penthouse 3603-1438 Richards Street | Azura | Beach Crescent | Downtown Vancouver
Open House this weekend August 23rd & 24th from 2-4pm. Call Mike at 604-763-3136 to Confirm an Open House or to Schedule a Private Showing. Welcome home this 1433sf 3bdrm Sub-Pe... View Listing Details
408-1989 Dunbar Street | Sonesta | Vancouver West | Kitsilano
Call Mike at 604-763-3136 to Confirm an Open House or to Schedule a Private Showing. Welcome home to this bright and sunny penthouse level corner suite at the Sonesta in Kits! This spacious 1bdrm & den has a large southern exposure balcony (perfect for B... View Listing Details
3472 West 12th Ave | Kitsilano Home | Vancouver West
This property SOLD on May 29th 2014 for $2,475,000. for details call Mike at 604-763-3136. Beautiful Kitsilano gorgeous home! This elegant house simply offers the ultimate functional living space wit... View Listing Details
3510 Turner Street | East Vancouver Home in Renfrew with Revenue Suite
This property SOLD on December 12th 2013 for $735,000. Welcome to this gorgeous immaculately kept 4bdrm 2bath home with lots of character on a beautiful tree lined street! Enjoy vi... View Listing Details
1310 West 33rd Avenue | Heritage Home | Shaughnessy Real Estate | Vancouver West
This property SOLD for $4,000,000. Subjects removed on November 6th 2013 Featured by Heritage Vancouver, this Shaughnessy icon has been immaculately maintained & tastefull... View Listing Details
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Tag Archives: New Mortgage Rules
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
From April 18, 2011 The Government of Canada Will No Longer Guarantee Home Equity Lines of Credit (HELOC)
In January 2011, Canada’s Department of Finance announced a series of changes to mortgage and property financing rules. These new mortgage rule changes are intended to cool Canada’s real estate market and slow Canadians per capita debt growth in the short term and support the long term stability of the Canadian property market.
Jessi Johnson a Mortgage Broker in Vancouver was kind enough to come and explain the changes.
In part 1 of 3 we talked about how the Department of Finance rule changes are shortening the amortization for high ratio mortgages. In part 2 of 3, we discussed how under the new mortgage rules it will only be possible to pull out 80% loan to value when refinancing a property in Canada from March 18, 2011.
Today we are talking how the Government of Canada will no longer insure or guarantee Home Equity Lines of Credit offered by Canadian Banks and lending institutions from April 18, 2011.
What is a Home Equity Line of Credit? Continue reading
New 2011 Mortgage Rules and Real Estate in Vancouver with Mike Stewart & Jessi Johnson Part 1 of 3 Amortization!
The New 2011 Department of Finance Mortgage Rule Changes and Real Estate in Vancouver
Canada’s Department of Finance, which oversees and regulates Canada’s mortgage market which has a huge impact on Real Estate in Vancouver has enacted a new series of measures to cool the property market across Canada. The changes announced on January 17, 2011 are designed to allow the government to cool the Real Estate Market without affecting the overall economy by raising the Bank of Canada’s Prime Rate.
Call in the Expert!
As I am Realtor and not a Mortgage Broker, so I called in the expert to answer my questions on the new rules. Jessi Johnson, a Vancouver Mortgage Broker was kind enough to meet with me and explain the changes in detail.
Since there was sooo much detail, we broke up the discussion on the New 2011 Department of Finance Mortgage Rules and its effects on Vancouver Real Estate into a three part series. In part one of the series we are going to talk about the changes to maximum amortization.
Shortened Amortization for High Ratio Mortgages? Continue reading