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As a new home owner, one of the things you should remember on a yearly basis is to file an application for Home Owner Grant.

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Richmond BC Real Estate: Home Owner Incentive.

Sheila Atienza is a Richmond BC based Realtor and author of real estate books, including “How to Prepare to Own a Home in Canada: Recession-proof Lifestyle for Immigrants and First Time Buyers” and “Canadian Home Financing Simplified: How to Qualify as a Real Estate Buyer”

November 21 ’08 05:35PM  |  Sheila Atienza, Richmond BC REALTOR and Mortgage Broker

Richmond British Columbia, Canada – How Affordable to Own a Richmond Terra Nova Townhouse Unit?

In order to have a sample calculation of how much can a home buyer  afford a unit in this admirable Richmond Terra Nova neighbourhood, let us take for example a particular townhouse unit that is selling below 470K, which was recently featured in this blog site.

If a property is being purchased at a price of $469,800 by qualified mortgage borrowers,  and the buyers have savings equivalent to five percent (5%) of this amount ( which in this case would at least be $23,500), then the loan amounting to 95% of the purchase price will have to be advanced by a lender approving of a mortgage sought by the borrowers.
In this case, the qualified mortgage applicants or buyers are looking at paying an approximate monthly amortization of $2,400+ (based on approved credit, with 35-year amortization period), at an estimated interest rate of 5.34%.

Somehow, if you are a renter in this Richmond area, you may be looking at the same, if not almost close to the monthly amount for rental payment for a home that fits a medium-size family.

So, if one has financial resources, with track record of good credit and stable income that can service the mortgage payments for a property, then home ownership may be calling you now.

As home buyers or mortgage borrowers may have different financial profile, It is best to look at your financial options and find an opportunity in this home buyers’ market. Please call 778-896-4493 to find out what options may be available for you.

TAGS: richmond bc homebuyers, richmond bc mortgage, richmond bc townhouse, richmond mortgage broker, 5 down mortgage, terra nova real estate

Great Terra Nova Townhouse Unit Ideal for Family

Great Terra Nova Townhome Unit ideal for family!

Here’s a Terra Nova Townhome Unit that offers great features and benefits. 

For a family that’s looking for a property that is located near school, transportation,
shops and various social services, this unit might be something you might be waiting for.

In addition to proximity and access to convenience, the unit certainly boasts of quality
and style. The property has new carpet, laminate flooring,  moulding, kitchen tiles; and
4th bedroom could be an office or rec/hobby room. The unit has also front yard with garden.

This unit may be viewed on Saturday or Sunday between 1:30-3:00pm.
You may also call 778-896-4493 for other details.

TAGS: richmond bc townhome, terra nova townhouse, terra nova shopping, richmond bc homebuyers, richmond bc realtor, terra nova realtor, terra nova

Richmond Terra Nova TownHomes

There about sixteen (16) units in the Richmond Terra Nova neigbourhood actively listed as of today in the Multiple Listing Service (MLS).

This shows that home buyers who are from Richmond  or even those who come from the neighbouring cities can now have the opportunity to look into that option of owning a piece of property in a setting that
reflects nature and admirable community.

Home owners in the Terra Nova neighbourhood do enjoy access to easy shopping in the Terra
Nova Shopping Mall, Save-on-Foods, Starbucks, and other retail stores, banking and health
services located in No. 1 Road and Westminster Highway; not to mention a short walk to dining
and fitness facilities.

If you would like to view the units available in the area of Terra Nova, please call 778-896-4493 to arrange a viewing schedule.

TAGS: richmond townhouse, terra nova, richmond bc realtor, richmond bc homes, richmond bc townhome, terra nova townhouse, terra nova shopping, mls

Richmond BC, Canada- Prospective borrowers and homebuyers who have had or likely to go through credit problems are often faced by a question on the impact of public record such as debt consolidation/counselling or bankruptcy when applying for a mortgage.

Generally, record such as bankruptcy as well as debt consolidation/consumer proposal will likely stay in the credit report for a long period of time. In Canada for example, record appears up to 7 years for bankcruptcy. Lenders or banks look at the borrower’s profile based on re-established credit (after the bankruptcy or after one had concluded a consumer proposal).

A mortgage broker can look at an application and give advice on client’s particular situation prior to sending it to lender or bank.

Down payment certainly can help. How much downpayment you are able and willing to put up also counts (let’s say 5% , 10% or 20%) and depending on the type and value of property you are buying, the amount may be substantial.

In addition, credit scores of applicant will have to satisfy lending requirement.

Applicants who have may have some credit problems ideally try to come up with at least 20% down in addition to acceptable credit scores.

To learn more information about getting a mortgage in Canada, please visit: or

Richmond, British Columbia, Canada – A usual question of a prospective homebuyer is whether it is a good time for him or her to finally buy a home, or perhaps, wait for a little while, until he or she feels that the market is totally down. In this way, the homebuyer thinks he or she can speculate and avail of a much lower property price.

Hence, the wait-and-see attitude is evident. Thus, resorting to renting backed by his or her own reasons is what he or she is likely to act upon.

Renting is probably something other people prefer than owning. Who could argue that?

However while in the period of waiting, a renter still pays his or her rent. The amount in the long run could be quite substantial. Let’s say you pay for your monthly housing rental for eight hundred dollars ($800.00). In twelve months, you actually had accumulated an amount of nine thousand six hundred dollars ($9,600). This amount goes to your landlord (who may be holding a mortgage on the property you are renting and pays the mortgage to the lender).

When you convert your rental payments into mortgage payments, the amount that you pay for your own property  goes directly to your lender. You will be in a better position because as time goes by, the property that you now own can let you enjoy leverage as you build equity. 

If you are currently renting and would like to see if home buying could be a good option for you, you may browse through or call me at 778-896-4493