Service
HOME INSPECTIONS Residential Inspections Commercial Inspections Indoor Air Quality & Mold Test
#56590
Alliance
Home Inspections Call Ravi
778-710-2030 Licenced, Insured & Experienced. .
www.homeinspectorbc.ca
Free Thermal Scan, Recall check & 90 day Warranty
Mar 28, 2015 | Volume 26| Number 13| Phone: 604-502-6100 | Fax: 604-501-6111 | Email: voicerealtyads@gmail.com
Do I Really Need Mortgage Pre-Approval Before House-Hunting? Last month we explained the difference between getting prequalified and pre-approved for a mortgage. We often recommend that buyers get preapproved for a mortgage (not just pre-qualified) before they start house-hunting, to put them in the best possible position when that perfect home comes up. But of course, there are exceptions to every rule. Whether you get pre-approved or not, it’s very important to figure out how much you can afford to pay before you start looking. Most home buyers have a rough idea of how much they would feel comfortable paying every month on their mortgage. However, there is no quick and dirty way to translate that monthly payment into a specific maximum mortgage amount. Other factors have to be taken into consideration such as down payment amount, closing costs, mortgage default insurance, property taxes, strata fees (if applicable) and heating costs. And you
might be qualified to borrow more or less than you think, depending on your income, debts and credit history. As discussed last time, obtaining pre-approval on a mortgage can offer advantages, particularly in terms of locking in a great rate for up to 120 days. However, it isn’t always advantageous, depending on the situation. For example, we recently had a client who had a considerable sum to put as a down payment on a new home. With the price range he was looking at, the loan to value (LTV) ratio would have been close to 50 per cent. As previously mentioned, the most important thing is what you are comfortable paying on a monthly basis, not what you qualify for. This client wanted to keep his payments only a little bit above what he had been paying in rent. He had a great job and income, so he would have been able to qualify for a lot more. He had no credit card debt, no
loans or lines of credit but had an established credit history. Therefore, in this case, we didn’t get him pre-approved, because we knew there would be no problem getting him a great mortgage when the right time came. But we did do an in-depth analysis of his financial situation so he would know what his mortgage payment would be on the price range he was looking at, and also the maximum amount he would qualify for so he would have a wider price range to work with if necessary. In addition, as interest rates were going down, there was no need to lock in a rate from a lender. However, if we had noticed that interest rates would be moving up again during his house hunting, we would have obtaned a preapproval. As mortgage experts, we do a lot of work behind the scenes to ensure we have the best options for our clients and provide them with the best mortgage available.
HONESTY •
Lowest Mortgage Rates Guaranteed
MEMBER OF
It is also important to rememNO CREDIT, BAD CREDIT, NO PROBLEM! ber that getting pre-approved Up to 80% Financing on Residential Properties doesn’t mean that your mortwith Limited Income Verification gage has been fully approved. • Commercial Mortgages • First Time Buyers The final approval is given • Equity Take Outs • Renewals • Debt Consolidation once you have an accepted • Refinances • Variable Rate Specials offer, your application has been • Cash Back Specials • Private Mortgages submitted to the lender, and • Rate Holds up to 120 days • Truck Leasing the lender has received and approved all the outstanding financing conditions outlined 25 Years of in a commitment letter. Banking Experience Knowing what you qualify for Owner of Centum Axis Mortgage is critical when you start working with your real estate agent, #204-12885, 80th Ave, Surrey • E: tony_hundal@centum.ca Axis Mortgage Corp. as it shows you are a well-qualwww.surreydeltamortgages.com ified buyer who is serious about purManufacturers Of chasing a home. In fact, Quality Cabinetry some agents won't even Single Family Homes show proper“Celebrating 30 years ties to buyers Multi Family Projects in Business” who haven’t Hi-rise Apartments talked to a mortgage expert or Sohan Singh Bhogal bank. 13375 comber way, Surrey, BC V3W 5V8 Canada, www.sunrisekitchens.com info@sunrisekitchens.com
Tony Hundal
604.897.4068
Ph: (604) 597-0364 • Fax: (604) 597-2638
RELIABILITY •
INTEGRITY
West Newton
$258,800 NEW E C PRI
Vantage Realty Office:604-585-3555
#210-12088 75A AVE, SURREY
604-339-5132 West Newton
$199,800
GROUND LEVEL!One bdrm, one bthrm 760 SF luxurious condo. LARGE living rm with laminate floor and electric fireplace. Beautiful Maple kitchen with Granite countertops, SS appliances, Tile flooring, built in microwave/hood fan, Huge island and in suite Luandry. Large Master bdrm with walk in closet PRIVATE fenced yard. NO elevator or stairs. Great for first time buyer or RETIREE. Secured building and secured ground Level parking with bthrm. Walking distance to transit, schools, library, shopping, gym & restaurants. Easy access to Scott Rd and Nordel Way with 2-5-10 Home Warranty coverage. Great Price with great location. One of the best 1 bedroom units.
Queen Mary
East Newton
Guildford
WEEKLY SPECIAL Panorama Ridge
# 102 12088 75A AV
EMAIL: jaysidhu1@gmail.com SEE MORE AT:
$168,800 Abbotsford West
OPEN SUN 2-4 PM
12988 SOUTHRIDGE DR
Royal York
Surrey
# 108 9946 151 ST
# 120 3080 Townline Rd
WESTCHESTER PLACE. Beautiful, Spacious, Recently RENOVATED 1 bedroom 1 bath condo with 1 covered parking. Features New PAINT, New appliances, LARGE living room with GAS fireplace, Dining room, Laminate floors, UPDATED Kitchen and bathroom with GRANITE counters and HUGE Master bedroom. In suite Laundry and PRIVATE patio. Monthly Maintenance includes Hot water and Gas. Close to Guildford Mall, T & T market, Bonacord Elem. Johnston Heights Secondary, library, recreation ctr and bus stops. Move in condition. MUST SEE!!
Over 2260 sq.ft. Beautiful rancher/bungalow with basement. Main floor features: living room with gas fireplace leading to private patio, master bedroom with walk in closet and ensuite, den, 2 more bedrooms, laundry & full bath. Basement features: HUGE family room, games room and bedroom plus over 540 sq.ft. awaiting your ideas. Close to transit, school & shopping with easy access to HWY. Call for your private tour.
D D L L O O SS
Panorama Ridge
FREE
9123-126th St.
14370 74A Ave
11230 81St
$299,900
$898,000
PANORAMA RIDGE ACREAGE with VIEW. BEAUTIFUL 5 bedroom, 3 bathroom rancher with full WALKOUT basement on 1.7 ACRES. Main features: LARGE sunken living room with gas fireplace and VAULTED ceilings, Dining room leading to HUGE deck, lots of windows offering NATURAL light, Kitchen, 3 bedrooms, 2 baths and Laundry. AMAZING views of Farmland and Water from deck and dining room. Full WALKOUT basement with SPACIOUS rec. room, 2 bedrooms, 3 piece bathroom and mud room. FENCED yard with large hedges for privacy. Bring the horses or start a hobby farm. ONE of the last acreages on a great street. Move in, rent or build. RV parking. Priced to sell. Call for your private tour.
Delta
LOCATION LOCATION! THE VILLAS AT STRAWBERRY HILL!2 bdrm 2 bthrm 959 sq ft luxurious condo. OPEN layout features! Large liv rm with laminate flrs & electric fireplace. Maple kitchen with GRANITE counter tops, SS appliances, Tile flring, built in microwave/hood fan & in suite Laundry. M. bedrm with ensuite & second bdrm on opposite side for PRIVACY. Secured building and secured around Level Parking parking with bike room. close to all amenities.
7733 Garfield Dr, Delta
12532 58b Av
12914 54A AV
D D D D D D SO D SO D SO D SO D SO D L L L L L L L L L L O OLLD O O O O O SS$719,000 S$638,800 S$540,000 S$699,000 S$699,000 S$899,000
$1,000
MARKET EVALUATION Towards Legal Fees or Cash* *CALL FOR DETAILS
01/10