Sandhu & Sran Mortgages

Sandhu & Sran Mortgages Providing various Mortgages Services in Abbotsford, Surrey and Edmonton area.

09/10/2026

Thinking of asking ChatGPT if you’ll qualify for a mortgage? 🤖🏡

AI can give you information, but your mortgage situation needs personalized advice from a mortgage professional.

Know your options before making a decision.

Thinking about breaking your mortgage early? Know the penalty first. ⚠️How it is calculated:Variable rate mortgagesUsual...
09/06/2026

Thinking about breaking your mortgage early? Know the penalty first. ⚠️

How it is calculated:

Variable rate mortgages
Usually three months interest. Straightforward and generally manageable.

Fixed rate mortgages
Usually the Interest Rate Differential, or IRD. This is the difference between your rate and the current rate for the remaining term, and it can be significantly larger than three months interest.

Here is the part that catches people: lenders calculate IRD differently from one another. Some use their posted rate rather than the rate you actually received, which can increase the penalty considerably.

What to do:
• Ask your lender for the exact payout figure in writing
• Check whether a blend and extend option is available instead
• Confirm whether your mortgage is portable to a new property
• Weigh the penalty against the savings before deciding

Sometimes breaking early is still clearly worth it. Sometimes it is not. The only way to know is to run the actual numbers.

Not sure where you stand? We will review it with you.

📞 604-864-4222
📧 [email protected]
🌐 www.sandhusranmortgages.com

Sandhu & Sran Mortgages | Abbotsford | Surrey | Edmonton

You saved the down payment. Now here is the part nobody warns you about. 💰Closing costs to budget for:• Legal fees and d...
09/03/2026

You saved the down payment. Now here is the part nobody warns you about. 💰

Closing costs to budget for:
• Legal fees and disbursements, roughly $1,200 to $2,500
• Property transfer tax, which in BC is 1% on the first $200,000 and 2% above that
• Home inspection, roughly $400 to $700
• Appraisal, if your lender requires one
• Title insurance
• Property tax and utility adjustments owed to the seller
• Moving costs, which always run higher than expected

A reasonable rule of thumb is 1.5% to 4% of the purchase price, on top of your down payment.

First-time buyers in BC may qualify for a property transfer tax exemption, which can save thousands. Worth checking before you assume the full amount.

We walk clients through the full cost picture upfront. No surprises three days before closing.

📞 604-864-4222
📧 [email protected]
🌐 www.sandhusranmortgages.com

Sandhu & Sran Mortgages | Abbotsford | Surrey | Edmonton

Fixed or variable? There is no universal right answer, only the right answer for your situation. 🤔Fixed rate• Your payme...
09/02/2026

Fixed or variable? There is no universal right answer, only the right answer for your situation. 🤔

Fixed rate
• Your payment does not change for the full term
• Easier to budget around
• Breaking early usually costs more, because of the IRD calculation

Variable rate
• Moves with the lender's prime rate
• Historically has often cost less over time, though never guaranteed
• Breaking early is typically just three months interest

The questions that actually decide it:
• How long do you plan to keep this property?
• Could your budget absorb a payment increase?
• Is there any chance you sell, move, or refinance mid-term?

That last one matters more than most people think. If there is a real chance you break the mortgage early, the penalty difference can outweigh the rate difference entirely.

Let's talk through your timeline before you choose.

📞 604-864-4222
📧 [email protected]
🌐 www.sandhusranmortgages.com

Sandhu & Sran Mortgages | Abbotsford | Surrey | Edmonton

Pre-qualified and pre-approved are not the same thing, and the difference can cost you a home. 📋Pre-qualified• A quick e...
08/31/2026

Pre-qualified and pre-approved are not the same thing, and the difference can cost you a home. 📋

Pre-qualified
• A quick estimate based on numbers you tell us
• No documents checked, no credit pulled
• Takes minutes
• Useful for early planning, but it is not a commitment

Pre-approved
• We verify your income, down payment and credit
• You get a firm maximum amount and often a rate hold
• Rate holds typically last 90 to 120 days, protecting you if rates rise
• Sellers and realtors take your offer far more seriously

One important note: a pre-approval is still subject to the property itself being acceptable to the lender, and to your situation staying the same. So do not change jobs or finance a new vehicle between pre-approval and closing.

If you are house hunting this fall, get properly pre-approved before you start looking. It tells you exactly what you can spend, and it makes your offer stronger when you find the right place.

Ready to get pre-approved? It costs nothing. Give us a call.

📞 604-864-4222
📧 [email protected]
🌐 www.sandhusranmortgages.com

Sandhu & Sran Mortgages | Abbotsford | Surrey | Edmonton

Thinking about your first rental property? The rules are different from buying a home to live in. 🔑What to expect:• 20% ...
08/30/2026

Thinking about your first rental property? The rules are different from buying a home to live in. 🔑

What to expect:
• 20% down minimum on 1 to 4 unit rentals
• 20% to 35% down on 5+ unit buildings, and CMHC may allow as little as 15% with strong financials
• A portion of the projected rental income can help you qualify
• Lenders will want the lease, or a market rent appraisal if the unit is vacant
• Your existing mortgage and debts still count toward your ratios

The mistake we see most often is buyers assuming their home purchase experience will apply. Rental underwriting looks at the property as a business, not just a home.

Considering an investment property this fall? Let's run the numbers before you make an offer.

📞 604-864-4222
📧 [email protected]
🌐 www.sandhusranmortgages.com

Sandhu & Sran Mortgages | Abbotsford | Surrey | Edmonton

That renewal letter from your lender is an offer, not a verdict. 📬Roughly 70% of Canadians sign the first renewal they r...
08/29/2026

That renewal letter from your lender is an offer, not a verdict. 📬

Roughly 70% of Canadians sign the first renewal they receive. Lenders count on it.

What to do instead:
• Start looking 120 days before your maturity date
• Compare across lenders, not just against your current one
• Look at the terms, not only the rate. Prepayment privileges, penalty calculation, and portability all matter
• Ask whether a refinance at renewal makes more sense than a straight renewal
• Confirm nothing has changed in your income or credit that affects your options

Switching lenders at renewal is often simpler than people expect, and there is no fee to you for our help.

Is your mortgage maturing in the next six months? Let's look at it together.

📞 604-864-4222
📧 [email protected]
🌐 www.sandhusranmortgages.com

Sandhu & Sran Mortgages | Abbotsford | Surrey | Edmonton

Insured, insurable, uninsured. Three words that decide your rate, and almost nobody explains them. 🏡Here is the plain ve...
08/28/2026

Insured, insurable, uninsured. Three words that decide your rate, and almost nobody explains them. 🏡

Here is the plain version:

Insured
Less than 20% down. You pay a mortgage insurance premium, added to your mortgage. Usually the lowest rates available.

Insurable
20% or more down, but the property and terms still meet insurer guidelines. The lender covers the insurance cost, so rates stay competitive.

Uninsured
20% or more down, but outside insurer rules. Think refinances, rentals, or homes over $1M. Rates are typically slightly higher.

Same borrower, same down payment, different category, different rate. This is one of the biggest reasons a broker matters. We place your file where it fits best.

📞 604-864-4222
📧 [email protected]
🌐 www.sandhusranmortgages.com

Sandhu & Sran Mortgages | Abbotsford | Surrey | Edmonton

Your credit score can move your mortgage rate more than almost anything else you control. 📈Four things that genuinely he...
08/27/2026

Your credit score can move your mortgage rate more than almost anything else you control. 📈

Four things that genuinely help:
• Pay every bill on time, every month, without exception
• Keep card balances under 30% of your limit
• Do not close old cards, since length of history counts
• Pull your report and dispute any errors you find

Four things that quietly hurt:
• Applying for new credit right before a mortgage
• Carrying a maxed out card, even if you pay it monthly
• Co-signing without understanding the impact
• Letting a small collections item sit unpaid

Most scores can improve meaningfully in 3 to 6 months with a clear plan. If your credit needs work before you apply, start now rather than in the spring.

📞 604-864-4222
📧 [email protected]
🌐 www.sandhusranmortgages.com

Sandhu & Sran Mortgages | Abbotsford | Surrey | Edmonton

Address

2328 Clearbrook Road
Abbotsford, BC
V2T2X5

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 3pm

Telephone

+16048644222

Website

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