Why Teachers in Penticton and the BC Southern Interior Should Consult with a Mortgage Broker When Buying a Home
Summer is upon us in the beautiful BC Southern Interior and for most teachers in the area it couldn’t come too soon. Once the final papers have been graded and the doors are closed they are free, not just for some much-earned leisure, but to focus on personal affairs. For some, the summer marks the perfect time to buy their first home. There’s time to visit open-houses, meet with brokers (ahem), agents, and inspectors, and make a decision. There may even be enough time to move-in, unpack, and host a home-warming party before the September long weekend comes to a close. But as alluded to above, connecting with a mortgage broker is how to get the ball rolling. Here’s why.
You’re Tired of Paperwork
You’ve just spent 10-months glaring at a mind-numbing stack of papers, exams, and projects. The last thing you want to do is spent your “free time” buried in red tape. That said, it’s unavoidable. The red tape is what ties the proverbial bow around the gift of your first home.
From pre-approval through to closing, the paperwork mounts high. You must sort through and organize financial records and prepare an array of documents for lenders, insurers, agents, Realtors, and more. You have to negotiate with (persuade) big banks and make major decisions about terms, such as whether to choose variable or fixed rates. It’s this kind of effort that may have put you off from buying a home years ago. The good news, is that there is a way to avoid being bogged down in paperwork and negotiations. With a broker at your side you don’t need to do a thing. We are the ultimate teacher’s assistant! Find out what we will do for YOU by calling 250.493.9111.
You Demand More (i.e. lower payments) for Your Buck
The starting salary for a BC teacher with Category 5 qualifications is the second-lowest in Canada:
Not cool. The maximum salary for a BC teacher with Category 5 qualifications ranks 8th in Canada and 5th out of the ten provinces:
Still not cool. And according to Indeed the estimated rate for a Teacher in Penticton breaks down to just $24.34 per hour. The point of airing the BC Government’s (and Teacher Qualification Services) dirty laundry is to convey the fact that YOU demand more for your hard-earned inequitable pay. In other words, you need to minimize those monthly mortgage payments, no matter how large of a down-payment you are able to manage.
The good news is that year-over-year, both variable and fixed mortgage rates are as low as they have ever been! But you should not be satisfied with just that, as these are just the advertised rates being marketed by the big banks and other common lenders. There are other unadvertised rates and alternative home financing options that Carloni Mortgage Brokers has access to, rates and terms that can significantly lower your monthly spend. We can also connect you to a variety of programs, including Canada’s First-Time Home Buyer Incentive along with potential rebates, tax benefits, and other ways to fund your down-payment (where applicable).
The powers that be may not ascribe the appropriate value on what you do, but we do. Carloni Mortgage Brokers will get you more, by ensuring that you pay less than when getting a loan via another brokerage, or on your own.
If you’re in the market for a home in Penticton, or anywhere in the BC Southern Interior this summer, we encourage you to get-preapproved and contact Carloni Mortgage Brokers today. Call 250.493.9111 for a friendly conversation
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