VERICO Mortgage Broker Chris Landry Real Estate Tips

March 7, 2013 by Leave a Comment

Purchasing a property could be a way to secure your future and perhaps start a career in real estate, discusses VERICO mortgage broker Chris Landry, in this detailed post. There is also an increasing number of real estate scams, which means there is an increased demand for legitimate property sales. You need to start now. Read this article for some insider tips from Chris Landry on how to start buying real estate.

Real Estate Buying Tip from Chris Landry of VERICO Paragon Mortgage Group

Always have a potential home thoroughly inspected before purchasing it. Do not try to save money by asking someone you know do this job because you will have no recourse if something goes wrong.

Have your Realtor provide you with a checklist. Realtors have checklists for everything, from creating a budget to getting a mortgage. You can use the various checklists to make sure you’re ready for every contingent as it comes up. It is always advised that you consult a mortgage professional before finalizing your mortgage. An expert mortgage broker like Chris Landy of VERICO Paragon Mortgage Group can ensure you always get the absolute best rate possible on your mortgage.

It’s imperative that you are pre-qualified for a home loan before searching for a house. One main benefit is the ability to search with confidence within the range that you know you can afford and be approved for. Getting a loan might take some time and you want to make sure you will have the money on time for the transaction.

VIDEO: Chris Landry Vancouver Mortgage Broker – Chris Landry Vancouver, BC

You should buy insurance before you start moving in everything and transforming your house into your new home. If you put this off your insurance will not cover anything that happens, disaster can happen at any time!

When looking to purchase a new home, don’t choose one based solely on its aesthetic appeal. Homes should be built well and shaped appropriately. You might overlook something that will cause you a serious problem if you buy a home for its decor.

If you have children or plan on having them, you should look for a home with enough room for a family. You should also pay special attention to safety issues, particularly if the house you are viewing has a swimming pool or stairs. If you buy a house from a family who has raised their children in it, it should ensure that the house is relatively safe.

Be open to different possibilities. There are trade-offs that must sometimes be made between buying in a particular neighborhood, buying the ideal house, and what you can afford. If you can’t find a home in the area you want, shop for one in a similar area.

VIDEO: Chris Landry VERICO Paragon Mortgage Group – Mortgage Broker Vancouver, BC

If you have made an offer on a home that the seller did not accept, do not lose all hope that they will not find a way to make it more affordable for you to make the purchase. The seller might be willing to meet you half way, cover closing costs, or finalize some repairs. It never hurts to counter offer and ask.

The first step to purchasing a piece of real estate is getting organized. Pick up a notebook that you can use to write down any info you find in online searches, in the newspaper, or from friends or an agent. That way, your information is all in one place every time you need it.

Make sure the seller verifies the square footage and other important information about the home before you purchase it. Ensure that the square foot measurements on the owners’ listing matches the number you calculate. A number is considered valid if the difference is not more then about a hundred square feet. If it is more than this, then you might want to consider another property or do some research to figure out why the number as off.

When considering purchasing a house that comes with a great view, it is important to refrain from paying an increased cost simply for the view. The view might not be something that is worth it for the next buyer. This will cause you to lose a ton of money. You can buy the home because you enjoy the view, but you do not have to overpay.

Do not purchase a property unless you engage in proper research. Acting hastily and purchasing property on a whim is how you will end up making uninformed, regrettable decisions. You should research the surrounding area, crime rates, and average property age before you think about buying a house. Contact Chris Landry of VERICO Paragon Mortgage Group if you require any mortgage or home buying advice!

Choosing a Realtor or Mortgage Broker is Importants Says Chris Landry of VERICO

When you choose a real estate agent, ask how many years they have been involved in the community you are interested in. If the agent is fairly new to the area, they will not know very much about community issues, streets and neighborhoods. Ideally, look for an agent who has lived in the area for at least 10 years.

You can find a calculator online that will help you determine a reasonable price range when you are ready to purchase a house. This handy tool asks you to input your income, debts, and living expenses. You will then have a idea of what price you can afford to pay for a home.

VIDEO: Chris Landry Mortgage Broker Vancouver

Be moderate in your real estate negotiations. A lot of people want to get a good deal, and begin acting aggressively; they end up doing themselves more harm than good. It is good to be assertive with what you expect, though allow your lawyer and Realtor take care of the negotiations, because they have a lot of experience in this type of work.

It should now be clear as to why real estate buying offers some great career options. There are different ways to go about it, says mortgage broker Chris Landry of VERICO. You can also research and purchase appropriately using the wealth of information. By taking the tips from the article you read here, you are now on the path towards buying the property that fits your needs.

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FIXED MORTGAGE RATES: 5 OR 10 YEAR? – From ChrisLandry.ca

March 1, 2013 by Leave a Comment

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The following is taken from Chris Landry’s primary website www.chrislandry.ca:

During 2012, mortgage rates have dropped to lows not seen before in the history of Canadian mortgages. Many consumers are now considering taking longer terms such as a 10 year fixed rate at 3.89% for example. One of the major reasons for taking a 10 year term is that the Bank of Canada has indicated that more normalized rates will be seen in the market starting at the end of 2012 and onward. Historically speaking, the average mortgage rate for a 5 year fixed is around 5% to 7% while a variable would be 4% – 6%. Given the past rates we have seen not long ago in the early 2000’s, a 10 year mortgage could be very beneficial a few years from now when most consumers are renewing at 5% or 6% for example.

With mortgage portability, a 10 year mortgage can be carried to another home purchase if you sell the existing one you started the mortgage with. Most mortgages are also assumable, meaning a buyer of your home can assume the 10 year mortgage rate you have and this could be a good selling feature as well.

As the 5 year rate is about 70 basis points lower than the 10 year currently, it is also at attractive levels but a renewal after 5 years into higher rates at levels around 6% could be very possible. Obtaining a longer term mortgage would help avoid that scenario and could save a borrower some significant changes to their mortgage payments and interest charges.

Source: http://chrislandry.ca/fixedmortgagerates.html

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Chris Landy Teaches Home Buying Tips That Will Make The Process Fun

March 1, 2013 by Leave a Comment

There are so many challenging aspects about buying a home: searching, searching, understanding the regulations, so the whole process can be overwhelming and complex, says Chris Landry.Knowing all of these aspects is critical.

A lot of foreclosed homes have not had anyone living there for a long time, so needed upkeep has probably not been done.Many foreclosed homes need a brand new HVAC system, and may also have pests.

You should refrain from investing in a home that face or back busy roads. These properties will cheaper than those away from the roads, and you might be tempted to buy one of them; however, they are less expensive for a reason. You may be just fine with all the noise, but it could be hard to sell these homes if you needed to.

If you are in the market for a home, you must ensure you don’t purchase one simply for the decor. You should focus your shopping comparisons on it’s construction and whether it has solid construction. If you focus too much on appearances, you are missing out on the things that are wrong with it that can be a disaster later.

If you are clear and honest in negotiations with the seller, you can probably come to a selling price that makes you both happy.

There are a lot of programs that can assist people with their down payment, and it is a good idea for you to search out ones that you might qualify for.

Once your name is affixed on mortgage documents, you’ve agreed to be responsible for the monthly payment, regardless of changes in your personal life.

Look for your dreams. Investors are divided on whether or not now is a good time to sell your house and upgrade to a larger one, although some do favor such plans. This could be the perfect time to buy your ideal property, since real estate prices most likely will rise.

Buyers typically figure out their closing costs by totaling the down payment, real estate taxes, and the real estate taxes that are pro-related. In most cases though, the closing cost will include extra items like improvement bonds, school taxes, and anything else that is specific to that area.

Hire people you trust when purchasing a house. No one wants to go out of their own pocket for services that are available for free. Even though this is true, it is always best to hire people you personally can trust. Getting to the unvarnished truth will save you a ton of money down the road.

If you want to have a good return on your property, it is a good idea to look into properties that will require some work. You’ll experience the benefit of a fast return on it as you see your property value rises.Sometimes your property value will increase more than the money you invested.

These tips are helpful for getting the basics of home buying. Make certain that you use any information here that may be useful so that you don’t run into a lot of common problems. Have a blast looking for your new home! Chris Landry is an expert in the mortgage industry and a 14 year veteran mortgage broker in Vancouver, BC, Canada

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Welcome to Vancouver Mortgage Guru – Chris Landry’s Mortgage & Real Estate Blog

March 1, 2013 by Leave a Comment

Welcome Video from Chris Landry!

Chris Landry is a Vancouver Mortgage Broker for VERICO Paragon Mortgage Group

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Chris Landry Discusses the Types of Mortgages

March 1, 2013 by Leave a Comment

A mortgage is the biggest loan you’ll probably have because this one is for the home you’ll be purchasing. Your home will be the collateral on this one so it guarantees that the loan will be paid.

If you plan on getting a mortgage then you should familiarize yourself with the different options you can have. These options can be ideal for whatever financial situation you’re currently in. For you to know here are some of the most common types of mortgages:

Fixed-Rate Mortgage – In this mortgage, the interest fee is the same with the life of the loan. If you plan on getting this one, you’ll have to consider the period of how long it takes to pay off the loan. On average, a loan usually takes 15 to 30 years to pay.

Fixed Period Adjustable Rate Mortgages – This is also referred to as Hybrid ARMs, wherein it provides the steadiness of a fixed interest rate and payment for the initial adjustment period which usually takes five to ten years. After the fixed rate period expires then the interest rate is automatically adjusted every year for the remaining loan term.

Construction Mortgages – If you plan on building a new home then you should consider this option. This loan mostly involves a two-step borrowing process. For the first step, the loan covers the construction period wherein the payment is for the builders. The second step will typically convert the loan into a traditional, long-term fixed-rate mortgage.

Mortgages for First-Time Home Buyers – A lending program is usually offered by lenders to first time home buyers. This one makes buying a home a lot easier because only a small down payment is required and it offers a flexible income and credit requirements.

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