Mylene Lim - Pinay Mortgage Broker April 2024

Mylene Lim - Pinay Mortgage Broker

MA - MortgagesLab Financials

mylene.mortgage@gmail.com
(604) 783 9097
http://www.MyleneLim.ca

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April List of Foreclosure Properties

 

Abbotsford attached
Abbottsford Detached
Burnaby Attached
Burnaby Detached
Langley Detached
Maple Ridge, Pitt Meadows Attached
Maple Ridge, Pitt Meadows Detached
Mission Attached
Mission Detached
New Westminster Detached
North Vancouver West Vancouver Attached
North Vancouver West Vancouver Detached
Port Coquitlam, Coquitlam, Port Moody Attached
Port Coquitlam, Coquitlam, Port Moody Detached
Richmond Attached
Surrey Delta Cloverdale Detached
Surrey, North Delta, Cloverdale Attached
Tsawwassen, Ladner Detached
Vancouver East Attached
Vancouver East Detached
Vancouver West Detached
Vancouver West Attached



Purchase Plus Improvements

 

Looking for the right home today can be tough. To increase your options, you may want to consider homes that need renovation. As long as the basic structure is good, you can make improvement to the home to your liking.

However, sometimes buyers have enough for the downpayment but not for renovations. That's where "Purchase Plus Improvements" mortgages come in. They let you borrow more to cover renovation costs which will improve the value of the property. 

For example, if you're eyeing a $500,000 property and you put in 5% down payment, you will have a mortgage loan of $475,000. You want to have the kitchen and bathroom renovated to the tune of $30,000. You can add this amount to your mortgage application at the time of your purchase, subject to the lender's discretionary approval. 

This program has specific criteria and guidelines that you need to meet, but it lets you consider more homes beyond move-in ready ones, or have to wait until you have the extra funds in order to do your renovations. 

If you want more info, feel free to reach out to me at 604 783 9097. 



What is Spring Without Tulips?

 

Vivid explosions of colourful blooms announce the onset of spring, promising the arrival of a beautiful sun-filled summer.



Bank of Canada holds key interest rate at 5%, says things moving in right direction

 

The Bank of Canada has held its key interest rate at five per cent for the sixth consecutive time since July, saying it will look for signs that slowing inflation is sustained before moving on rate cuts.

The central bank said that inflation is still too high, but noted that core inflation measures — which strip out volatile sectors like food and energy — have trended downward in recent months.

"I realize that what most Canadians want to know is when we will lower our policy interest rate. What do we need to see to be convinced it's time to cut?" Bank of Canada governor Tiff Macklem said during a news conference following the announcement.

"The short answer is we are seeing what we need to see, but we need to see it for longer to be confident that progress toward price stability will be sustained. The further decline we've seen in core inflation is very recent. We need to be assured this is not just a temporary dip."

Macklem said that a rate cut in June is "within the realm of possibilities."

While inflation cooled to 2.8 per cent in February, with price growth slowing across goods, food, clothing and services, high rent and mortgage interest costs continue to drive up the overall inflation rate.

The bank expects inflation will move closer to its two per cent target this year, and that it will reach it in 2025. The bank also expects solid GDP growth this year and in 2025, due to population growth and increased household spending.

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