Abbotsford and Chilliwack First Time Home Buyers

Are you thinking about buying your first home? If so, Jodi Smith and the team at Whalen Mortgages in Abbotsford and Chilliwack are here to help you. They make getting your first home loan easy and quick, with low interest rates and a smooth process. When you work with experienced mortgage experts like them, you’ll notice the difference. If you’re ready to start, you can reach them at 778-800-0022.

At Jodi Smith’s Whalen Mortgages, they work for you, not the bank. Their main goal is to help you find the best mortgage that fits your needs. If you’re new to buying a home, having a knowledgeable mortgage broker like them is crucial. They have years of experience and know how to steer clear of common problems that might slow you down. They’ll be by your side to make sure you get your mortgage approved in Abbotsford and Chilliwack. They’re committed to being your top choice for mortgage brokers in these areas.

Did you know that at Whalen Mortgages, they have special options for those who qualify, including mortgages that require little or no down payment? In some situations, you can buy a home in Abbotsford and Chilliwack without having to pay the full down payment upfront. They work with lenders who offer programs that let you borrow the down payment or get a loan or credit line without security. They make sure to keep the mortgage rates competitive, even if you can only make a small down payment. Helping you become a homeowner is their main concern! You can contact them at 778-800-0022.

Jodi Smith and her team are mortgage brokers, which is different from being a lender. As top mortgage brokers in Abbotsford and Chilliwack, and with locations across Alberta, they have earned trust for providing various mortgage solutions. They can choose from a wide range of lenders to find the best loans for you. They are available to assist with your mortgage needs in Abbotsford and Chilliwack, even on weekends and evenings. They understand that home buyers have different schedules, so they’re ready to help when it’s convenient for you. To get started, just call 778-800-0022.

Mortgage Renewal Abbotsford and Chilliwack

Are you nearing the renewal period for your mortgage in Abbotsford and Chilliwack? It’s a great opportunity to consider different mortgage options for your property in these areas. Remember, exploring your choices comes at no expense to you. Now is an ideal time to look beyond the initial offer from your bank and see if there’s a chance to reduce costs. Often, homeowners find they can lower their expenses, decrease the duration of their mortgage, or even eliminate prepayment fees altogether. Although a number of individuals in Abbotsford and Chilliwack tend to accept their existing lender’s renewal terms, examining other possibilities doesn’t incur any fees. Contact Jodi Smith at Whalen Mortgages in Abbotsford and Chilliwack today for assistance. We are committed to securing the most favorable mortgage rates and terms for your renewal needs in Abbotsford and Chilliwack. Reach out at 778-800-0022 for more information.

Abbotsford and Chilliwack Mortgage Refinance

Consider optimizing your existing mortgage in Abbotsford and Chilliwack through refinancing. If you’re contemplating home renovations in Abbotsford and Chilliwack, aiming to clear other debts, or thinking of tapping into your home’s equity for various projects, refinancing could be a beneficial route. Perhaps you’re looking at merging your home equity line of credit or second mortgage into one, potentially leading to interest savings. Our team is ready to assist, giving you the freedom to use the funds as you see fit. Whether it’s for investing in real estate, acquiring a holiday home, or any other purpose, we’re here to explore all your options. Before deciding on a debt consolidation loan in Abbotsford and Chilliwack, reach out to Jodi Smith at Whalen Mortgages Abbotsford and Chilliwack.

We’re committed to crafting tailored refinance solutions for your Abbotsford and Chilliwack mortgage needs. If you’re seeking an escape from an unfavorable home loan, Jodi Smith at Whalen Mortgages in Abbotsford and Chilliwack understands your situation and is dedicated to finding the most suitable mortgage refinance solution for you.

Jodi Smith and the team at Whalen Mortgages in Abbotsford and Chilliwack offer a range of preferred mortgage options from numerous lenders.

Abbotsford and Chilliwack Trusted Mortgage Broker at Jodi Smith at Whalen Mortgages Abbotsford and Chilliwack

Start with a pre-approval. Continue with looking at homes with confidence. Then once you find the perfect home we seamlessly get your mortgage on the perfect Abbotsford and Chilliwack home approved.

Do We Work with Lenders that Support Housing Programs and Housing Incentives?

Absolutely, the team at Jodi Smith’s Whalen Mortgages in Abbotsford and Chilliwack is well-versed in the diverse benefits employers the area. They are familiar with a variety of incentives such as mortgage assistance, down payment support, and housing stipends that employers provide to attract and retain employees in the region.

Navigating the mortgage application process can be intricate, particularly when considering the various forms of income provided by employers in Abbotsford, Chilliwack, and nearby areas. This includes elements like performance-related bonuses, shift premiums, overtime compensation, and travel allowances, which are common in some industries. Certain mortgage lenders in Abbotsford and Chilliwack might not accept these types of income, viewing them as inflating the actual income figures.

However, with their deep understanding of the local market, Jodi Smith’s team at Whalen Mortgages in Abbotsford and Chilliwack boasts an impressive record of securing mortgage pre-approvals. This success rate extends to areas like Stony Plain and nearby regions. Their expertise ensures that they can effectively navigate the mortgage process, enhancing the likelihood of your application’s acceptance.

Can I Get a Mortgage with 0% Down?

Typically, purchasing a home without a down payment isn’t standard practice. However, there are exceptions where certain mortgage lenders may consider it. Options like securing an additional loan or an unsecured loan to cover the down payment are available. Alternatively, receiving financial assistance from family members in the form of a gift can also be a viable option. In certain circumstances, your employer might offer to provide the down payment. It’s important to note that specific guidelines and limitations are associated with these options.

What Options Are Available to First Time Home Buyers?

First-time homebuyers in Abbotsford and Chilliwack have extra options to consider. For instance, you can use money from your RRSP account as a down payment on a home, tax-free. You just need to talk to your RRSP investment provider to find out how to do this.

If you’ve used this RRSP benefit before, you might be able to use it again. For example, if you bought a home in Calgary using your RRSP and then sold it and moved to Abbotsford and Chilliwack, you could use the RRSP funds again if you’ve rented for at least three years and repaid the RRSP. And, if you haven’t owned a home in the past three years, the RRSP benefit won’t be taxed.

Additionally, the government has a restricted shared equity program where if you have a 5% down payment, they’ll match it, or 10% for a new build as part of a shared equity home ownership program. To see if you qualify, you’ll need to contact the government directly.

If you’re interested in learning more about your options as a first-time homebuyer in Abbotsford and Chilliwack, consider reaching out to a mortgage broker like Jodi Smith at Whalen Mortgages Abbotsford and Chilliwack for guidance.

How Much Does a Down Payment Need to Be on a Second Home?

If the property will become a primary residence for another family member or yourself, the down payment needs to be at least 5%. Talk to our team to better understand the rules and restrictions involved.

What Options Do I Have If I want to Make My Current Home A Rental Unit?

Imagine you want to move from your first small home to a bigger one. Or maybe you’re leaving Abbotsford and Chilliwack but plan to rent out your old home. Jodi Smith at Whalen Mortgages in Abbotsford and Chilliwack can help you use the value in your current home to make a down payment on your new one. The money you get from renting out your old home can help pay its mortgage. They can figure out how much rent you can charge to help pay off most of the debt on your old home. This way, you can spend more on your new home. Call them at 778-800-0022 for more info.

You also have the option to change your mortgage to lower your monthly payments. This can help you make more money from renting out your house. This works whether you’re about to renew your mortgage or you have a mortgage where the interest rate changes.

This is not my first home, how much down payment will I need?

For your next home, even if it’s not your first purchase, you typically need a down payment of 5%, as long as it’s your primary residence. This applies whether it’s for your own home or a family member’s. However, if your total mortgages exceed a million or if there are other concerns with your application, a 10% down payment might be required to reduce the risk. Our experienced mortgage brokers in Abbotsford and Chilliwack are ready to help you find the right mortgage solution. Feel free to give us a call!

Regarding turning an existing house into a rental, if you’re buying a new primary residence in Abbotsford and Chilliwack or elsewhere, you can rent out your old property with just 5% down on the new home. We offer rental offset options that help manage the debt on your old home, making it easier for you to handle your financial obligations when purchasing a new home. We’re here to be your go-to mortgage brokers in Abbotsford and Chilliwack!

What Do I Need to Know Before Buying Rental Real Estate?

If you’re looking to buy a rental home, mortgage lenders usually ask for a down payment of 20%. The government requires you to have mortgage insurance for homes with less that 20% down, but the property cannot be insured.  And, the government only finances the purchase of a first or second home, not investment properties. To help you with financing your real estate purchase, contact a Abbotsford and Chilliwack mortgage broker like Jodi Smith at Whalen Mortgages Abbotsford and Chilliwack.

What Are the Mortgage Rules on Second Homes?

You can buy a second home or vacation home for as little as 10% down payment. Moving into your second home or a vacation home? You can reduce that to 5%. If a family member moves into the property, you can pay as little as 5% down payment, as well.

Why Should I Use a Abbotsford and Chilliwack Mortgage Broker?

Why use Jodi Smith at Whalen Mortgages Abbotsford and Chilliwack for your mortgage needs instead of going to a bank? There are a couple of reasons that we can provide a better solution for our Abbotsford and Chilliwack mortgage clients. First, we work for you, not the bank, providing a higher level of customer service. We are available to answer questions and won’t pressure you into a loan that may not be the best fit for you. Secondly, we have access to a large network of lenders and banks, allowing us to find better mortgage loan terms and options, including those for clients with poor credit or unique property purchases. We strive to find the best loan product for our clients, which ensures that we stay in business. 

We can even help those outside of Abbotsford and Chilliwack, anywhere in Canada. Use our free mortgage calculator to see how much you could save. Let us help you save money on your current home or afford the home of your dreams. Contact us today at 778-800-0022.

Can we save you money on your Abbotsford and Chilliwack mortgage? Give us a call today at Abbotsford and Chilliwack Mortgage Brokers and find out!

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