Vancouver BC Real Estate Professional
Since 1995 Wayne has been committed to providing unparalleled service to his clients. His patience in listening to his clients’ needs and desires, the commitment to ensuring that these needs are met efficiently, and his ability to be flexible with his schedule are just a few of the compliments that he has received from clients over the years. Most important of all, Wayne enjoys interacting with people and in working with them to achieve their goals. These qualities have contributed to his success. Having started his career employed by one of Canada’s largest financial institution as a Mortgage Specialist, Wayne also has the experience and knowledge to help you arrange the financing which will best suit you. “My ultimate goal is to help get you into the home that you want. Mortgage financing is not as generic as most people believe. One size does not fit all. Especially in today’s marketplace where there are numerous lenders, products and options being offered. Each client’s current finances and long term outlook and goals are different. With a continuously growing list of lenders to choose from, along with an array of options that each offer, it can be a daunting and time consuming task to find the right package. I have the experience, knowledge and patience to work with you in finding and negotiating a custom fitted mortgage package on your behalf. With the ability to transmit the application using the latest technology I am able to service my clients with even greater speed and efficiency. I want to be an integral part of your home buying process.”
Contact Information
- On the web:
- Email:
- mah.w@mortgagecentre.com
- Telephone:
- 604.880.1899
My Posts/Listings
Rates Lowered Unannounced
RBC, without a press release, lowered their posted rates today by 0.10% across the board. This is the second time in under 2 weeks that mortgage rates have been lowered. Based on current bond yields, we can anticipate futher rate decreases in the near future. No other lenders have followed RBC’s lead thus far but we can expect them to match in the coming days. Wayne Mah, AMP / Senior Mortgage... [Read more]
Beware Of The B.C. Property Tax Deferral Program
This week all B.C. homeowners started receiving their annual property tax bills and inside there is information about the new option to defer the payment of them if you meet certain criteria. I previously wrote about this under 2010 BC Budget Homeowner Changes. So if you qualify, why not take advantage of this? Most certainly if you had to, this is a good new option in what are still hard economic... [Read more]
How To Finance A Former Grow-Op Property
Living here in beautiful British Columbia has some definite perks. The mild climate, gorgeous scenary, and for those that like to partake…B.C. bud. Now I am not getting into the debate over pot use but wanted to detail the steps required to purchase a property that was a former grow-op. In B.C. there seems to be a huge number of homes that are used for the illegal cultivation of marijuana. Once... [Read more]
So It Begins…Bank of Canada Raises Bank Rate Today
The Bank of Canada raised the Bank Rate by 0.25% today. It is now at 0.50%. This is the first increase by the central bank since July 2007. With this rise I expect all major lending institutions to rate their Prime Rates by an equivalent amount – from 2.25% to 2.50%. This means that if you are in a variable rate mortgage or have a line of credit, you will be paying more. This is most likely a... [Read more]
UPDATE: Strata Duplexes Now Okay
CMHC has just announced that they will now be insuring mortgages on “non-conforming stratas” again. This reverses an earlier decision (see previous post). A requirement is that title insurance must be taken out. This is super news for both buyers and sellers. Now buyers can go as low as 5% down again! No updates from the other two insurers as of yet. Wayne Mah, Senior Mortgage Planner,... [Read more]
Warning: Possible Financing Problems On Strata Duplexes
Our office recently encountered financing problems for a strata duplex. We discovered that currently no mortgage insurer will approve such a property. Not CMHC, not Genworth and not Canada Guaranty . This is a very recent change!!! I found this very strange and having been in the industry for many years I decided to find out why. In the past these were not an issue. Some background on these types of... [Read more]
Financing for Americans Purchasing A Property in Canada
The following information is specifically for our United States’ neighbours who are interested in financing a property purchase in Canada. If you are interested in information about financing but are from elsewhere around the world please refer to Financing A Property Purchase In Canada From Overseas. As Canada and the United States share the largest border in the world, citizens from both sides... [Read more]
Rates rise for the 3rd time in a month
RBC led the way again today, announcing another rate increase of 0.15% across the board. This is the 3rd rate increase in a month and now totals over one full percentage point on many terms. Expect all other lenders to follow in the next few days. If you are in the market to buy, renew, or refinance it is now more important to book a rate more than ever. A month ago, many qualified clients were able... [Read more]
Rates On The Rise Again!
The Royal Bank announced that effective tomorrow they are raising all rates by 0.25%. As an example their posted 5 year fixed rate would rise to 6.10%. This increase is on top of ones that took effect last week that were up to 60 bps. So far no other major lenders have matched these increases but I expect them to follow suit shortly. Wayne Mah, Senior Mortgage Planner, The Mortgage Centre 604.880.1899... [Read more]
Financing A Property Purchase in Canada From Overseas
For many years now people have been purchasing properties in Canada as a second home or as an investment in large numbers. With the recent Winter Olympics just over, the number of enquiries on how to finance such a purchase has exploded. I am going to go over this here. Please note that there are more favorable rules for our American purchasers which I will detail here Financing For Americans Purchasing... [Read more]
