First-time homebuyers program still short homebuyers

General Joanna Yang 21 Jun

First-time homebuyers program still short homebuyers By Aidan Chamandy. Published on Jun 18, 2021 4:07pm A real-estate sign in Toronto in August 2020 (Rene Johnston/Toronto Star) EmailFacebookTwitterLinkedIn The federal government’s program to help first-time homebuyers is still helping far fewer Canadians than the program is supposed to, according to figures tabled in Parliament on Thursday. […]

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The Slowdown In Canadian Housing Continued in May

General Joanna Yang 17 Jun

The Slowdown In Canadian Housing Continued in May Today, the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 7.4% nationally from April to May 2021, building on the 11% decline in April. Over the same period, the number of newly listed properties fell 6.4%, and the MLS Home Price Index rose 1.0%, a marked deceleration from previous […]

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Starting to See a Slowdown in Canadian Housing

General Joanna Yang 17 May

The Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 12.4% nationally from March to April 2021. Over the same period, the number of newly listed properties fell 5.4%, and the MLS Home Price Index rose 2.4%. While home sales fell month-over-month in April, largely due to the new lockdowns, April sales were still the strongest ever for […]

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拿到Commitment Letter就等于贷款批下来了吗? No!

General Joanna Yang 29 Apr

很多人认为按揭贷款拿到了Commitment letter 就大功告成了, 其实只不过是刚刚走过了整个流程的50%而已。 接下来银行风控要审阅所有收入、信用相关的文件和房子的正式评估报告等文件, 过了文件审阅和房屋评估这两关,才算是贷款正式被批了。 对于首付低于20%的按揭贷款,都需要购买房贷保险。要注意的是,按揭审批流程需要要走两遍 — 银行走一遍, CMHC等保险公司也要走一遍独立的批准流程,以确保每一笔首付低于20%的按揭贷款符合保险公司的获保条件。 警报!如果你的房子存在以下的情况, 很可能在最后一分钟被告知无法获得贷款的批准 – 因太多的人哄抢offer, 造成房屋的成交价格过高, 脱离市场实际价值; 房屋内部实际情况糟糕, 特别是在MLS listing上出售时出现 “as-is” 或者“handyman special?” 等字眼, 都是银行风控高度关注的敏感词语; 如果所买的自住房和申请人工作地点离的非常远, 银行会觉得不符合实际生活常理,会假设申请人会有花费在第二个住处上, 而强制要求在计算申请人的“负债收入比(TDSR)”时加上“Shelter Cost”作为负债项。 各个银行对Shelter Cost要求不同,有的要求$400, 有的要求$600等等。 这个Shelter Cost一旦被要求加上,经常会让申请人的TDSR一下子爆掉。所以在买自住房申请贷款时,申请人一定要注意和自己工作地点必须有一个合理的距离。 买Condo的时候, 要注意如果Condo的管理费出奇的高,或有些特殊的情况如水管是Kitec Plumbing, 银行都会拒绝贷款。 另外要注意Condo的面积, 很多银行要求Condo的面积不能小于500平尺,过小的Condo银行会拒贷。

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A Pre-Approval Does Not Guarantee a Mortgage Approval

General Joanna Yang 28 Apr

A Pre-Approval Does Not Guarantee a Mortgage Approval by Ross Taylor Many Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval. But the truth is a buyer cannot expect a mortgage pre-approval will automatically translate into a mortgage. The lender now needs to consider the property […]

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Canadian rents came down, but that’s about to change

General Joanna Yang 22 Apr

A funny thing happened during the housing boom – thousands of tenants decided this was the time to stop paying rent and start paying a mortgage. With interest rates low and house prices skyrocketing with each monthly update, there’s been a steady stream of moving trucks from densely-packed apartment towers to the relatively leafy, spacious […]

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Bank of Canada Scales Back Bond Buying

General Joanna Yang 21 Apr

Bank of Canada Scales Back Bond Buying Today, the Bank of Canada held its target for the overnight rate at the effective lower bound of ¼ percent. The Bank is also adjusting its bond-buying program from weekly net purchases of Government of Canada (GoC) bonds of $4 billion to $3 billion. This adjustment to the amount of incremental stimulus being […]

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Blowout Canadian Job Growth Continued In March

General Joanna Yang 9 Apr

This morning, Statistics Canada released the March 2021 Labour Force Survey showing much stronger-than-expected job growth for the second month in a row, pointing towards a Q1 growth rate of more than 5.5%. This survey reflected labour market conditions during the week of March 14 to 20, when public health restrictions were less restrictive in […]

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A deal, B deal, C deal? 我到底符合哪个要求?

General Joanna Yang 20 Mar

很多客人在和我讨论贷款时, 经常会混淆一些概念, 比如什么是A 类,什么是B类?什么是保险的,什么是可保险的?什么是高贷款率, 什么又是传统的?根据不同的角度, 贷款会有各种叫法……很多人经常会把不同角度的概念混在一起讨论。 为了让大家有一个大致更清晰的分类,今天我总结了以下表格,这样方便大家大致对贷款的分类和基本特性有一个概念,在选择贷款的时候头脑也更清晰。 市场上,大家经常会听见用A Lender和 B lender的说法来划分贷款,这在 10年前的加拿大比较准确,当时 A Lender 和B lender界限划地非常清晰,那时只有大家熟知的6大银行做A deal,而 MFC(Mortgage Finance Company)只做B Deal。那时的房贷经纪也是按照A lender和B lender 有着严格的划分, A类房贷经纪只代理A Deal, B类房贷经纪只代理B Deal。 随着近十年来房地产市场的繁荣发展,信贷市场也发生着诸多变化,最显著的变化之一就是 为了争夺A Deal市场,除了生活中随处可见的大银行可以做A Deal之外,今天基本上所有的 MFC(如Home Trust, Equitable Bank, DLC, RMG, MCAP, Metrix, B2B, XMC等等等等)也都放出了自己的资源竞争A deal市场;而贷款经纪所代理的机构从过去严格地A类B类的划分变成了今天同时既可以代理A deal,也可以代理B Deal。所以在今天的市场中, 如果我们把按揭贷款按A类银行和B类银行来分并不十分准确,或者手已经过时了。 更准确的分法是按Deal(交易)的特性来分为A Deal,B Deal(以及C deal即通过MIC Mortgage Investment Company的私贷)。 为了让大家可以更清晰地大致明白A Deal,B […]

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购房时,首付款最低额怎样算?

General Joanna Yang 9 Mar

购房时, 首付款的多少会直接影响三个方面 1)最终你可以购买房产的价位;2)是否需要按揭保险及按揭保险费用的多少;3)最终的贷款总额和每个时期的供款额。今天我们来谈一谈“购房时的首付款”。 首付款的来源? 最常见的首付款来源包括 — 个人存款储蓄 RRSP (首次购房者) 投资所得 直系亲属赠予的不退还的资金 其他房产售出所得,等等 贷款机构会更根据不同的资金来源要求提供不同的证明, 比如90天的银行存款证明,直系亲属的资金赠予信等等。 最低首付款额如何计算? 按政府规定, 最低首付额按以下层级计算叠加– 房产价格 最低首付款 $500,000 以下 房价的5% $500,000 至 $999,999 $500,000 的5% 超出$500,000部分的10% $1,000,000 以上 房价的20% 如果贷款申请人是自雇人士或信用分数不够高,贷款机构可能会相应地要求提高首付比例。 计算演示– 如果房价低于 $500,000,以¥400,000为例,那么最低首付款额为$400,000*5% = $20,000. 如果房价高于$500,000,低于$1,000,000, 以房价$600,000为例,需要两个层级的计算叠加, 一共$35,000,具体计算如下: $500,000 * 5% =$25,000 (1) ($600,000-$500,000)*10% = $10,000 (2)  . (1)+(2)=$35,000. 什么是按揭保险? 买家首付不足20%时,必须在申请房贷时购买按揭保险。按揭保险是在借款人发生违约、无法还款的情况下,旨在保护贷款机构的一种保险, 所以也称为“按揭违约保险”。 有些贷款机构对于首付到达了20% […]

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