Jenna Zigich - Mortgage Consultant

10/20/2021

Did you know that you can factor in a renovation budget in to your new home purchase? We call it “Purchase Plus Improvements.”

If this sounds like something you may be interested in or would like to learn more, reach out and I’d be happy to discuss! 📲🙋🏼‍♀️
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05/28/2021

https://vancouversun.com/opinion/columnists/douglas-todd-realtors-advice-on-how-to-avoid-foreign-buyers-tax-points-to-larger-problem

Analysis: How effective can taxes on foreign ownership be if there is a world of realtors, tax lawyers and immigration consultants leading clients through the exemptions and loopholes?

05/15/2021

Is there truly a difference between “GOOD” debt and “BAD”!?
Most certainly. When it comes to debt, there is “bad” debt and “good” debt. Good debt is when you borrow money to purchase an asset that appreciates 🏡. On the alternative, bad debt is consumer debt that is accumulated via your credit cards and lines of credit. Let’s focus on paying down your bad debts and aim to get you in that next home that will MAKE you money!
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05/09/2021

To the world, you may be one person, but to one person you may be the world. Happy Mother’s Day 🌹

05/05/2021

When is the best time to buy!? 🗝🏡
Like anything in life, NOW. Let’s chat and get a plan in place. 🙋🏼‍♀️📲
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05/03/2021

Who doesn’t love shopping!? 👜 👠

Many people make the common mistake of shopping around to all the different banks in search of the best rate. While this may seem like a clever way of obtaining the best deal; in fact, you’re doing yourself a disservice and likely putting you in a worse off place. Every time you inquire with a bank or lender, they check your credit history and this is recorded on your credit bureau- hurting your credit as it’s hit over and over again. Additionally, when a relationship has yet to be formed, the representative at the bank may simply give you their lowest rate; however, it may not be the best product or terms for your individual situation. This is where a mortgage broker comes in handy. We are invested in you and tailor your mortgage to fit your needs. We have access to dozens of banks and lenders and will ensure that we offer the best advice and, most importantly, service. 🙋🏼‍♀️📲

04/22/2021

Happy Earth Day 🌱
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04/12/2021

Last week, the Office of the Superintendent of Financial Institutions proposed a higher mortgage stress test. Currently, borrowers are required to show they can afford a mortgage payment based on a rate of 𝟰.𝟳𝟵%, despite actual mortgage rates being less than half of that. The new proposal would increase the stress test to 𝟱.𝟮𝟱% (or 𝟮% above the actual mortgage contract rate - whichever is higher). These proposed changes would be applicable to borrowers with more than 20% downpayment and would mean buyers would see a 4.5% reduction in purchasing power. The proposed date this could come into effect is 𝗝𝘂𝗻𝗲 𝟭𝘀𝘁, subject to industry consultations in May. ⁠
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For now, it is business as usual which may lead to a flurry of activity as buyers try to close on deals prior to June 1st. Despite the increase to the stress test, mortgage rates are still near record low levels and are expected to remain so until the economy is fully reopened and recovered. ⁠
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🌐 𝟰𝗙𝗿𝗼𝗻𝘁Mortgages.com⁠
📞 (778) 327-8709
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04/07/2021

Should I wait and save to have 20% down to avoid an insurance premium or should I jump in with only 5% down, now?

Reasons to go ahead and not wait:

1. money no longer wasted on high rent- getting in the real estate market sooner
2. Building equity now which can very well relate to more appreciation than the insurance premium paid after 5 years
3. Lastly, think about how realistic it really is that you will be able to save up the remaining 15% over the next 3-5 years?

My advice is to jump in to the market as soon as possible. Reach out any time!

📸 credit via Divine_Design_Decor

03/31/2021

A friendly reminder that the BC Speculation and Vacancy Tax declaration is due March 31st!
https://www2.gov.bc.ca/gov/content/taxes/speculation-vacancy-tax/how-to-declare

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03/28/2021

Whether you’re at home watching the game 🏀 or house hunting with your realtor, it’s March Madness out there! With multiple offers driving prices up, be sure to reach out to your trusted mortgage professional. 🙋🏼‍♀️📲