2020 in Review: What Happened with Mortgages and Real Estate in BC

When the year started, forecasters didn't predict any major changes to mortgage financing or the real estate market. After several years of new qualifying regulations and government taxes to attempt to address skyrocketing property prices, 2020 should have been relatively stable and calm.

Updates to Canada's First-Time Home Buyer Incentive for Victoria, Vancouver, Toronto

As part of the federal government's Fall Economic Statement on November 30, 2020, they announced upcoming changes to the First-Time Home Buyer Incentive program that will expand eligibility in the higher priced housing markets of Victoria, Vancouver, and Toronto.

To buy or not to buy your first home in 2021? That is the question!

These days that's the million dollar question – quite literally in Victoria and the Greater Vancouver areas. Buying a house, especially your first home, is a major decision. Auxilium Mortgage owner Kam Brar looks at some of the factors you should consider if you decide to buy property in 2021.

Self-employment and Qualifying for Your Mortgage

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Whether you call it your gig, side-hustle or passion project, the number of people in Canada who are self-employed is on the rise. When you're focused on building your business, home ownership can seem like a challenge. While it's true that qualifying for a mortgage when you're self-employed is different from a regular employee, our team is here to walk you through the options with mortgage lenders and insurers.

How to Qualify for Your First Mortgage

Buying your first home can be confusing. When we talk about qualifying for your mortgage, we mean looking at the ratio of your debt vs. your income and seeing whether you will realistically be able to make mortgage payments.

Your Unconditional Purchase Offer Might Get You More Than You Bargained For

When the real estate market is hot, there is a lot of pressure to make quick decisions. If you're worried about missing out in a bidding war or are motivated to move, it can be tempting to go in subject-free so that your offer stands out. But what if your dream home turns out to be a nightmare? Without conditions, you might be stuck with very few options to end the contract.

What Landlords in BC Need to Know During the COVID-19 Emergency - UPDATED

As part of the State of Emergency in BC declared as a result of the COVID-19 pandemic the provincial government brought into effect a Residential Tenancy Order on March 30, 2020. This order details changes that apply to landlords and tenants with respect to rent, evictions, and access to the rental property. We've compiled what you need to know as a landlord about these changes.