@mortgageswithscott Property Transfer Tax. A tax due anytime someone buys a new property in BC. This is calculated at 1% of the first 200k 2% of the balance after than. Until 3% of the balance above 2m. There’s a few people that are exempt from this Tax so make sure you are asking your broker all the right questions. #mortgage #mortgagetok #britishcolumbia #finance #financetok #trmt #lenders #debt #wealth #realestate #investments #investing
♬ original sound – Scott Robinson
@mortgageswithscott What is a Co-Signer and who can be one? Also have an exit strategy. Don’t let Co-Signing hold you back from your own goals. #fyp #mortgagebroker #vancouver #okanagan #investment #cosigner
♬ original sound – Scott Robinson
@mortgageswithscott Do you know the types of penalties and when they occur? Something to think about when choosing your next mortgage. Don’t get strung out from large penalties. #mortgage #mortgagetok #britishcolumbia #finance #financetok #trmt #lenders #debt #wealth #realestate #investments #investing
♬ original sound – Scott Robinson
@mortgageswithscott A great way to get into your first home is getting a gifted down payment. It’s actually a lot easier that it sounds. #mortgage #mortgagetok #britishcolumbia #finance #financetok #trmt #lenders #debt #wealth #realestate #investments #investing
♬ original sound – Scott Robinson
@mortgageswithscott Are you team fixed or team variable? The most important thing is assessing the risks of each side. The risk to variable being your payment amount will fluctuate. The risk to fixed being the unyielding terms and conditions. And Of course that IRD penalty. But here’s why your broker might still be team variable. Ultimately… it’s your mortgage and your decision. You are the one that has to sleep at night
♬ original sound – Scott Robinson
@mortgageswithscott SR day vs Closing say. What’s the difference? SR day is the day you go firm and binding on your offer. Before this date you must satisfy all the conditions of your offer. Closing day is the day you’ve been waiting for. Your brand new mortgage. Any maybe brand new home. Enjoy! #mortgage #mortgagetok #britishcolumbia #finance #financetok #trmt #lenders #debt #wealth #realestate #investments #investing
♬ original sound – Scott Robinson
@mortgageswithscott Know your budget. What the bank says you can afford and what actually fits into your budget may be two very different numbers. So budget accordingly
♬ original sound – Scott Robinson
@mortgageswithscott Hot take: pay down your mortgage? Or incest elsewhere? What’s better? Well that depends on your goals. But paying off low interest debt probably isn’t the best investment you can make
♬ original sound – Scott Robinson
@mortgageswithscott Payment frequency. This is the choice you get in which you would like your payments to be made. Most Lenders offer a monthly or a biweekly accelerated option. Biweekly accelerated is a great way to shave years off your loan and save thousands #mortgage #mortgagetok #britishcolumbia #finance #financetok #trmt #lenders #debt #wealth #realestate #investments #investing
♬ original sound – Scott Robinson
@mortgageswithscott 2 new trade lines of $2,000 or more for 2 years running and your in the clear. Don’t let people hold you down #mortgage #mortgagetok #britishcolumbia #finance #financetok #trmt #lenders #debt #wealth #realestate #investments #investing
♬ original sound – Scott Robinson
@mortgageswithscott Getting PreApproved is the most important step to start your journey. A Pre-Approval is not the same as a Pre-Qualification. This is why we see so many people get messed over by the banks. Do it right and do it once. Reach out to us today #mortgage #mortgagetok #britishcolumbia #finance #financetok #trmt #lenders #debt #wealth #realestate #investments #investing
♬ original sound – Scott Robinson
@mortgageswithscott Deposit vs down payment. What’s the difference what’s not the difference #fyp #loan #mortgage #realestate #metro #tiktok
♬ original sound – Scott Robinson
@mortgageswithscott Closing costs are often overlooked. Make sure you budget for these too. They often include: property transfer tax, legal fees and appraisal fees. But you may also have to pay for things such as: penalties, inspections, moving costs, furniture & appliances. #fyp
♬ original sound – Scott Robinson
@mortgageswithscott Default insurance. Something you’ll be paying for if you want to put down less than 20%. What does it do. Well it insures the lender against default. As you have little equity in the home. #fyp #loanofficer #loanofficersoftiktok #mortgage #mortgagetips #mortgagebroker #mortgagelender #investing
♬ original sound – Scott Robinson