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Recent content by Vine Group

  1. Vine Group

    Will monthly mortgage payment amount change?

    Every lender has different rules around prepayments so you'll need to check with the lender, or simply look it up on their website. Prepayments are generally on the ORIGINAL loan amount at beginning of a term and not reduced balanced. Let us know if you have any additional questions or email us...
  2. Vine Group

    Mortgage rules for a small mixed-use?

    Commercial properties are all unique in terms of financing and really depend on location, condition and financials. Typically for a mixed-use commercial, 30-35% down is what we'd advise clients to expect to put down with 20-25 year amortization. If the property has strong fundamentals, lenders...
  3. Vine Group

    can I start investing with no money?!

    Hello, Private lenders generally go to 80% LTV and sometimes 90% LTV. Without any additional collateral, 100% LTV is unlikely. Best course of action is likely a JV. The great thing about REIN is that there are plenty of other people on the opposite side who may have the funds for JV’s. Just a...
  4. Vine Group

    RBC mortgage advisory

    All lenders have different rules around LTV’s. The average lender will lend up to 80% LTV on first $1MM and then 60% LTV on the remaining amount above $1MM. In markets like Vancouver and Toronto where the pricing is already higher, exceptions can be made to get access to 80% LTV on as high as...
  5. Vine Group

    Mortgage Renewals

    A Fixed vs Variable decision should be made based on your risk tolerance and goal timeline with the property. Historically, Variable has been the better option in terms of providing a lower rate, BUT there’s no way to predict the future and direction of rates. Calculate the payment on a 5-year...
  6. Vine Group

    Reverse Mortgage vs LOC for aging parents or in-laws

    CHIP is the only one offering this in Canada (as far as we know). Lenders offer financing primarily based on risk, ability to repay the loan and assets. CHIP is taking a much higher risk here because there are NO REPAYMENTS on the loan. In fact, they only make money when property is sold...
  7. Vine Group

    Reverse Mortgage vs LOC for aging parents or in-laws

    Reverse mortgages are a great financing tool and can be very attractive for some. PROS: As long as there is plenty of equity in your home, you can qualify without traditional income verification requirements for a pretty large mortgage amount. This means that someone with a $1MM home who...
  8. Vine Group

    Pulling Equity out of a property upon new mortgage term nagotiations

    If looking to pull equity out of rental OR refinance a brand new application and FULL review would be required to ensure affordability for lender. You’re essentially asking lender for more money so they’ll want to re-qualify, whereas a regular refinance your keeping existing balance and simply...
  9. Vine Group

    New West - Cash Flow?

    Each lender has there own internal policy and servicing calculations. I recommend you contact us ([email protected]) to identify if the lender your considering is the best option for your long term goals.
  10. Vine Group

    Pre approval lock-in prior to changes

    Some lenders are offering to fund pre approvals the are approved before Dec 15 this year. Remember, you need to close the purchase within the 120 days of the approval.
  11. Vine Group

    New proposed OFSI rules attacking your real estate wealth

    Thomas, I’m not sure what you are hinting at? The conversation is about a loophole to qualify with the proposed higher qualifier. The loophole that was suggested was using a longer amortization like 35 years to qualify. I’m saying investors should not rely on this loophole until its proven and...
  12. Vine Group

    New rules and first time home buyer with Co signer

    You can owner occupy a 4 plex as a primary residence. Technically 5% is available, but normally 10% is what the insurer will request. As for qualifying, keep in mind, you need to be employed. Both you and your guarantor’s income need to service both your credit, your fathers existing house plus...
  13. Vine Group

    New proposed OFSI rules attacking your real estate wealth

    All I’m saying is don’t make assumptions. There are already reports of concerns that regulators may increase audits if lenders use the amortization loopholes. We don’t make the rules, we just need to understand them and play within.
  14. Vine Group

    New proposed OFSI rules attacking your real estate wealth

    At this time, it’s early to confirm exactly how lenders will be “interpreting” the new rules and what “loop holes” will be utilized. At the end of day, the regulators will be looking to lenders for feedback and modifications can and will most likely be made. Also, keep in mind if lenders get...
  15. Vine Group

    Financial Advisor

    We offer VINE Wealth, a holistic approach to your overall financial health and well-being, headed by Peter Kinch. Peter is in BC but we can anchor you with an agent in AB. Feel free to contacts us at [email protected].
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