Pre-Qualifying for a Mortgage?
|
|
|
Here is some information to help you understand the prequalification process. We will be by your side every step of the way!
|
Do's and Don'ts of Home Buying
|
|
The Homebuyer ‘DO’ List:
- DO utilize free online tools to arm you with as much knowledge as possible. For example, the Home Price Comparison Index available at http://www.coldwellbanker.com offers buyers a way to compare average housing costs in over 400 markets across North America.
- DO access and closely review your credit score. A sound financial track record and solid credit score can help lock in a loan and lower interest rates. Check your records in advance to catch any errors ahead of time, and to better understand how lenders may perceive you.
- DO explore mortgage pre-approval. Getting this early green light will help others involved with your purchase that you are serious about home ownership – and well-qualified.
- DO line up your "all-star" team of professionals before game day. A team of experienced professionals will be key to making the home buying process simple and seamless. Start by interviewing and selecting a sales representative who you "connect" with. Your local Coldwell Banker® sales professional can help you identify suitable lawyers, mortgage lenders, home inspectors and others who play a role in the process.
- DO anticipate your future needs and buy for lifestyle. Try to anticipate how long you’ll live in your next home and plan for major lifestyle changes when possible. What may make a perfect starter home for a couple might not work as well when children come into the picture.
- DO hone in on your housing priorities. Your ideal home may have a porch, a pool and five full baths. But before you start looking, make sure to separate your "must-haves" from your "nice to haves," so you know where you can compromise to meet your budget.
The “DON’T” List for Prospective Homebuyers:
- DON’T fall in love with the first house or neighbourhood you see. That grand colonial with the picturesque view may win your heart at first glance, but you need to keep an open mind to make sure you find the right fit for all your needs. At the end of your search, it may turn out that the riverfront ranch that’s closer for your commute is a better bet all-around.
- DON’T buy beyond what you can afford. It’s easy to fall into that all-you-can-eat attitude, especially when it comes to your first home purchase. You "want it all" when it comes to size, amenities, location, etc. But remember that your eyes may have a larger appetite than your wallet. Make sure the down payment, closing costs, monthly expenses and taxes are truly within your income and savings range before you sign an offer.
- DON’T treat your home the way you treat your stock portfolio. It’s unrealistic and unwise to expect your housing investment to appreciate as quickly as you’d hope for your high-risk bonds. Buying for lifestyle, and remembering that real estate is a great long-term investment, will help you look at home purchasing and ownership in the right context.
- DON’T jump into a confusing mortgage. Be sure to read carefully through every aspect of the proposed agreements to fully understand your end of the bargain. For instance, an attractive rate now may be difficult to carry if rates change during the term of your mortgage. Arm yourself with information and don’t be afraid to ask questions.
- DON’T underestimate the value of your local Coldwell Banker real estate professional. While being a savvy buyer and doing your homework will help on the road to homeownership, a local expert with years of negotiating experience is invaluable when it comes to scouting out the perfect home – and closing the deal.
|
|
|
Our Listings
|
|
|
Please don't forget to contact us for further information.
|
View these listings in:
or
orGet New Listings in Google Toolbar
View
(9 Photos)
|
|
#1-2410 Abbott Street
(New Construction)
|
Okanagan, British Columbia
|
Kelowna South
|
MLS®
$2,859,000
|
3,714 sq. ft.
|
2 Story
|
Residential
|
|
View
(24 Photos)
|
|
322 Renwick Court
(New Construction)
|
Okanagan
|
Lower Mission
|
MLS®
$2,678,000
|
5,090 sq. ft."2490 on main floor"
|
2 Story "Classic Tuscany-inspired design"
|
Residential
|
$7,842.00
(2009)
|
View
(12 Photos)
|
|
469 Main Street
|
Okanagan
|
Sicamous
|
MLS®
$1,390,000
|
|
Manufactured Home
|
Multifamily
|
|
View
(15 Photos)
|
|
Feathertop Way, Suite 38
(New Construction)
|
Central Okanagan
|
Big White
|
MLS®
$824,800
|
2,091 sq. ft.
|
3 Story "Chalet"
|
Recreational
|
$1,796.89
(2008)
|
View
(15 Photos)
|
Sold
|
164 Magic Drive
|
Okanagan
|
Magic Estates
|
SOLD
$798,800
|
4,203 sq. ft.
|
Other "Walk-Out Rancher"
|
Residential
|
$5,493.11
(2008)
|
View
(15 Photos)
|
|
1128 Sunset Drive, Suite 807
|
9216218
|
Downtown Kelowna
|
MLS®
$699,900
|
1,577 sq. ft."Includes balcony"
|
Apartment
|
Condominium
|
$3,823.41
(2007)
|
View
(29 Photos)
|
|
2136 Chilcotin Crescent
|
PID 025-119-443
|
Dilworth Mountain
|
MLS®
$699,200
|
3,286 sq. ft.
|
1 1/2 Story
|
Residential
|
|
View
(15 Photos)
|
|
1495 Graham Street, Suite 409
|
Okanagan, British Columbia
|
Downtown Kelowna
|
MLS®
$675,000
|
1,353 sq. ft.
|
Apartment
|
Residential
|
|
View
(33 Photos)
|
|
663 Denali Court, Suite 319
|
Okanagan
|
Dilworth Mountain
|
MLS®
$629,000
|
3,016 sq. ft.
|
Single Story
|
Residential
|
$3,219.00
(2009)
|
View
(28 Photos)
|
|
128 Edith Court
|
Okanagan, British Columbia
|
Traders Cove
|
MLS®
$625,000
|
2,870 sq. ft.
|
Single Story
|
Residential
|
$2,801.00
(2009)
|
View
(15 Photos)
|
|
4495 Schamerhorn Court
|
Okanagan
|
Lower Mission
|
MLS®
$599,000
|
2,460 sq. ft.
|
4-Level Split "3 Bedrooms Up"
|
Residential
|
$3,246.05
(2009)
|
View
(8 Photos)
|
|
13121 East Ridge Drive
|
|
Carr's Landing
|
MLS®
$579,900
|
2,920 sq. ft."Fully finished basement."
|
Ranch "with walk-out basement"
|
Residential
|
$2,861.00
(2009)
|
View
(15 Photos)
|
Sold
|
1676 Spruceglen Drive
|
Central Okanagan
|
Glenmore
|
SOLD
$549,900
|
2,505 sq. ft."800 sq ft self contained studio suite"
|
Bi-Level
|
Residential
|
$3,568.38
(2009)
|
View
(15 Photos)
|
|
3416 Scott Road, Suite 3
(New Construction)
|
9191374
|
Lower Mission
|
MLS®
$498,000
|
1,428 sq. ft.
|
Townhouse
|
Residential
|
|
View
(31 Photos)
|
|
5321 Sandhills Drive
|
Okanagan
|
Sunset Ranch
|
MLS®
$479,900
|
2,170 sq. ft."1280 Main / 890 Bsmt"
|
Townhouse "Semi-detached"
|
Residential
|
$2,003.57
(2008)
|
Top 5 Things to discuss with your Real Estate Professional
|
|
Title: Five Topics to Discuss With Your Real Estate Agent When Buying a Home Whether you’re ready to settle into your first home or looking to buy your fifth; are moving cross-country or cross-town, it’s smart to identify which attributes of a new home are most important to you. Be sure to sit down with your real estate agent and discuss your needs and wants for your new house. Here are five topics to think about when buying a home: 1) What You Can’t Live Without Our lifestyle choices are often reflected in the homes we buy. Are you a motorcycle fanatic? If so, a roomy garage would be important to you. Have a big family? You’ll likely need to buy a home with at least four bedrooms. Perhaps you or your spouse is a gourmet cook. In that case, a well-designed kitchen could be a must for you. Before your real estate agent begins a home buying search for you, he or she will want to know which home attributes you can’t live without. 2) Schools and Family Needs The quality of school systems has long been of importance to home-buying families. If you have children or are thinking about having children in your new home, you’ll want to discuss school information and statistics with your real estate agent. Not only is it important to consider the location of your home relative to area schools, but you’ll also want to think about the quality and diversity of local school offerings. Your real estate agent can provide statistics and information about both public and private schools in all the neighborhoods in which you’re considering buying a home. 3) Commuting For many people, commuting from home to work and back is a necessary evil. A long commute can detract from a home-buyer’s quality of life and the time he or she gets to spend at home. Commuting should be a critical factor in home selection, because in many communities, traffic backups are increasingly common. And today, this phenomenon applies to urban, suburban and even rural areas. If having little or no commute to work is important to you, convey this to your real estate agent. 4) Community Details Whether you hope to live in a vibrant urban neighborhood, or a charming rural town, the demographics, details and community statistics of a particular area are almost as important a consideration when buying a home as the details of the house itself. Do you want to live in the thick of the action? Prefer to get away from it all? If a particular aspect of a community is important to you—like a defined downtown area, or a strong recreation component—be sure to tell your real estate agent so that he or she can gather community information and keep this consideration at the forefront of your home search. 5) Budget Of course, the most rigid constraint of a home-buying search is typically the buyer’s budget. Defining budget parameters quickly and early focuses a home search to a particular segment of the market. However, with the creative lending solutions available today, budget constraints are not as rigid as they once were or as many home-buyers assume them to be. Many innovative mortgage options are now available to both first-time and veteran home-buyers. Before beginning a home search, you should talk to both your real estate agent and your lender about your finance options and ultimately, your budget. |
How much can I afford to spend?
|
|
|
Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.
Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.
|
| |
|
|
Required
|
Optional
|
Results
|
Receive this Detailed Analysis
|
|
|
|
|
|
Your Monthly Payments
|
| |
| Loan Amount: |
|
|
|
| Loan Insurance (
%): |
|
|
|
| Total Loan(Mortgage) Amount: |
|
|
|
| |
|
|
|
| Principal & Interest: |
|
|
|
| Homeowners Insurance: |
|
|
|
| Property Taxes: |
|
|
|
| Condo Fees: |
|
|
|
| Monthly Loan Insurance (%): |
|
|
|
| Total Monthly Payment: |
|
|
|
| |
|
|
|
|
|
Buying Services for Kelowna Home Buyers
|
|
|
 |
Congratulations! You have decided to purchase a home, or are thinking about buying one. You'll be joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family. When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours. Over time, your home will increase in value.
In the following reports, you'll find the information you need to make a wise buying decision. We'll take you through the planning process step-by-step , to help you determine which home is right for you. You'll find a host of informative articles on mortgages, viewing homes, the offer, closing details and moving.
Please contact me if you have any questions about buying a home in Kelowna or elsewhere in British Columbia. |
Below, select desired reports and complete the form provided.
|
You have not selected any of the above reports.
|
|