Working with a Mortgage Broker; just like dating!

Working with a Mortgage Broker; just like dating! Banks are declining more mortgage applications than ever, in fact, the borrower rejection rate from mortgage lenders has gone up by as much as 20% since Canada’s banking regulators imposed the stress test for home buyers. What this means is people need to get their application in front of more than one lender, lenders are human, and just because one person says no, doesn’t mean the next will, just like dating!! Working with a...

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Love It or List It Vancouver ~ Family Home Attachments

Becca & Cory ~ Family Home Attachements A car accident injury leaves Becca & Cory coping with their home’s accessibility issues. Can Jillian fix the function of the space and make it their forever home, or will Todd find them a rancher with a view to inspire a move? To watch our episode of Love It Or List It Vancouver… click the link or icon below!!  http://www.hgtv.ca/shows/love-it-or-list-it-vancouver/full-episodes/season-5/videos/becca-and-cory-1500233795582/

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Mortgage Rate: Not the only thing to consider

Mortgage Rate: Not the only thing to consider   Below are two examples that show why rate is not the only thing to consider when choosing a mortgage lender. $360,000 Scotia Mortgage 1 year into a 5-year term, the clients payout their mortgage and are charged a penalty. • Mortgage penalty the clients were actually charged $9500 • Penalty the clients would have been charged with a different lender $3200 • Difference $6300 $320,000 BMO mortgage 3 years into a 5-year term the clients w...

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Rental Suites Increase Qualifying Income

Rental Suites Increase Qualifying Income In today’s market with stricter mortgage rules, a rental suite can make a huge difference when qualifying for a mortgage and knowing which lenders offer the biggest bang for your buck is even more important. Different lenders allow different amounts of the rental income to be added into your qualifying income. Some lenders only allow 50% of the rental income to be used when qualifying for a mortgage, while others allow 80% and even 100%. If a ...

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Markets Are Stabilizing – House Affordability Isn't

Markets Are Stabilizing – House Affordability Isn’t It looks like most housing markets in Canada are heading towards stability this year, not a crash, and while that’s good news for the economy at large, not everyone will be cheering.  A soft landing is in the cards. Not welcome news for potential home buyers, as affordability will only worsen in the year ahead, writes John Stackhouse, senior VP, office of the CEO of RBC, in an analysis published this month. Although t...

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Royal LePage Canada

Royal LePage Kelowna is proud to be part of the Royal LePage family, helping Canadians from coast to coast! This article was first published on https://royallepagekelowna.com.

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8 Tips the Banks Won't Share with You in 2019

8 Tips the banks won’t share with you in 2019 If you’ve got a mortgage renewing or plan to get a new one this year you probably know that it’s more complicated than it used to be. That said, I have some tips and strategies that can help you get the mortgage you need, tweak the one you have, or help you plan for renewal. To get the best deal, you need options. When you go to your bank, you’re talking to one lender. Their best deal might not be THE BEST DEAL (la...

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Conversation On Cannabis

Conversations About Cannabis ~ BCREA The legalization of cannabis opens up new risks for homeowners and new opportunities for REALTORS® to add value as trusted advisors as consumers make the biggest financial decision of their lives. That’s why BCREA is launching a series of videos called Conversations on Cannabis. From the Lenders: Don’t risk it… Growing cannabis in your home will stigmatize the property which can have very negative effects on the value. From the Le...

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Renewing Your Mortgage

Renewing Your Mortgage According to a recent survey of 2,000 Canadian homeowners, 19% will be renewing mortgages next year, 82% of whom are currently in a fixed rate mortgage. If you are one of these people the prospects aren’t as bleak as you may think!  That’s because those five year fixed terms were locked in on average at 3.65%, and mortgage holders can renew at similar rates today.  What this highlights is the way lenders work and the variation in rates that people get. Fi...

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First Time Buyers

First Home Guide Compliments of Genworth Canada Download [3.41 MB] This article was first published on https://royallepagekelowna.com.

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A Few Of My Favorite Things

A Few Of My Favorite Things ~ Christmas Music My daughter singing…”Have Yourself A Merry Little Christmas” ~ Shanna Aitken ~ https://rebeccaaitken.ca/wp-content/uploads/01-have-yourself-a-merry-little-christmas.mp3 A Few Of My Favorite Things ~ Okanagan (Taken November 30, 2018~Rebecca Aitken) A Few Of My Favorite Things ~ Heidi Hewitt In the studio with Heidi as she shares her talents with us… A Few Of My Favorite Things ~ Christmas Baking ...

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Should I Buy or Wait?

Should I Buy or Wait?   Should I buy now or wait a year as prices are dropping, but interest rates are rising? I hear this question daily, and my usual answer drones on about interest rate projections, supply, and demand for homes blah blah!! So I thought I would run the numbers and see what makes the most sense based on the numbers, not my opinion! Option 1 – If you bought a home for $100,000 and put 5% down and had an interest rate of 3.59% on a 5-year term amortized over 25 y...

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The Aitken Group ~ 6 P’s

The Aitken Group ~ 6 P’s At the Aitken Group, our plan is simple:  ”To be as honest, open and transparent as possible in order to foster an active partnership with our clients that will lead to mutual success.” We know that we cannot reach our goals without first reaching yours!  Want to know our strategy for achieving this??? Here are our 6 P’s… 1.  Professionalism – Rebecca is a licensed professional real estate agent.  This means that she has completed t...

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Kelowna Open Houses - Open House To Do List

Open Houses Tour: 6 Things To Do

Open Houses Tour: 6 Things To Do Looking for open houses in the Kelowna Area – visit www.KelownaOpenHouses.com     Download [37.69 KB]   This article was first published on https://royallepagekelowna.com.

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The Power of Teamwork – Meet The Aitken Group

The Power Of Teamwork ~ Meet The Aitken Group Rebecca Aitken – Licensed Realtor© Rebecca has spent more than 30 years providing outstanding customer service in the Okanagan valley.  It is Rebecca’s daily goal to go above and beyond to help others reach their dreams and in doing so Rebecca believes whole heartedly that she will then achieve all of hers too!  Rebecca re-located to the Kelowna in 1988.  Since then Rebecca pinches herself everyday to live in such an amazing pl...

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Rebecca’s Rustic Okanagan Top 10

 REBECCA’S RUSTIC OKANAGAN TOP 10 Rustic Country Decor I love all things Country!  If it’s wood, funky, chunky and distressed I probably already own it!  It is my preferred decorating style and my home is full of rustic country decor.  I have found some hidden gems in the Okanagan to shop for this type of decor.  I am going to share with you a few of my favourites stores for home decorating!  Let’s call it  “Rebecca’s Rustic Okanagan Top 10”!! Smuggler’s Cove – Salmon ...

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Mortgage Rates On The Rise

Mortgage Rates On The Rise Now that NAFTA negotiations are somewhat behind us, we can get back to focusing on the fun stuff, and we have some good news and some not as good news. Mortgage rates started going up again in early October and we will likely see the Bank of Canada bump the rates up another 1/4 point at their next meeting on October 24th. This is definitely supporting the trend towards higher rates that many are forecasting, now that our trade issues with the US are a little le...

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Kill Them With Kindness

Kill Them With Kindness ~ A Mother’s Wisdom Inevitable she always answered back with the same four words… “Kill them with kindness.” When I was a little girl, I often would find great disappointment in those around me.  I can remember running home to see my mother, my wee brow furrowed, my tiny jaw sent and my lip curled into a massive pout.  I would stand in front of her with my arms crossed defiantly in front of me and I would announce to my mother how I was wronged… “Ve...

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Jillian Harris… Diva or Down to earth??

Jillian Harris…Diva or Down to earth?? Being on Love It or List It Vancouver came with some big surprises… One of those surprises was working with Jillian Harris.   Jillian brings some Hollywood to our Hicksville. Considering that we live in a relatively small town, Jillian Harris is a big time celebrity in the Okanagan.  Being on the Bachelor and then the Bachelorette, Jillian brings some Hollywood to our Hicksville.  We were really unsure what to expect.  Would Jillian be a diva o...

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NYC… What a ride!!!

NYC…WHAT A RIDE!!! Cory and I celebrated our 25th Wedding Anniversary with a long awaited trip to NYC, Boston and Montreal.  Here are a few highlights from our NYC leg… There is never a dull moment in NYC… We were the typical sightseeing duo!  Statue of Liberty, Central Park, Staten Island Ferry, Cooney Island, Brooklyn Bridge, Times Square, Rockefeller Centre, The Highline, Broadway, Empire State Building etc.  We were able to do so much and see so much of t...

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Todd Talbot ~ What is he really like?

He’s tall…He’s odd…He’s Todd!!! He’s tall…He’s odd…He’s Todd!!!  HGTV’s Love It or List It Vancouver has a huge following!  A big part of this is due to the on screen chemistry of their hosts, Jillian Harris and Todd Talbot. What is Todd really like? What is Todd really like?  Todd is a big goof ball!  How he is on TV is how he is in real life in our experience.  Witty, charming and very tall… his personality is almost as wild as the crazy suits he sports!  He never backs dow...

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Why We Decided to Do Love It Or List It…

Read all about our experience with Jillian and Todd on Season VI of HGTV’s Love It or List It Vancouver!! WHY??? So many people have asked us this simple questions… Why? Why a TV show?   It isn’t an easy answer, however I will try to explain the how and then I think this will explain the why… ‘My home was becoming my prison rather than my sanctuary.’ Rebecca Aitken Five years ago this November… Five years ago this November will mark the annivers...

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Owning Versus Renting in Canada

Owning Versus Renting in Canada Mortgage Professionals Canada released a very interesting report today, Owning versus Renting a Home in Canada. In the report, they compare the expected costs of housing for Canadians who will choose to rent versus those who choose to own. In the 266 scenarios examined in the report, taken from a broad cross-section of regions throughout Canada, the monthly cost of home ownership is lower than the cost of renting equivalent housing in the majority of case...

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Credit Score: How does it work?

Your credit score is critical when obtaining credit these days, yet many people are unclear about what makes up their score. Credit scores range from 300 to 900 with most mortgage lenders requiring a minimum of a 680 score. Many factors go into your score but the 2 largest contributors are how you make your payments and how much of your available credit you are using. The first is easy; make your payments on time and your score goes up; have late payments or collections and your score goes down....

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