Janine Thomson

Serving the Westshore with quality, integrity & accuracy.

1) “How can I compare my monthly rental payments to mortgage payments?”

Of course, the amount of your mortgage payments will depend on the price of the home you buy, the size of your down payment, prevailing mortgage rates and the term and amortization you choose. But it’s actually quite easy to estimate typical payments using the mortgage calculators available on our website: go to www.rbcroyalbank.com/rentorbuy.

2) “How do I know how big a mortgage I will qualify for?”
A pre-approved mortgage is a great way to know how much you can borrow for your home. This, in turn, helps you set a price that’s realistic for your financial situation. It’s important to note that having your mortgage pre-approved doesn’t obligate you to buy a home: it’s simply a way to know how much your mortgage lender will approve you for.

3) “I want to become a homeowner as quickly as possible but I haven’t saved a large down payment. Any suggestions?”
You’ll be glad to know there are different options available, depending on how much of a down payment you can afford. A low down payment mortgage is required when your down payment is less than 20%. You can purchase a home with as little as 5% down. All low down payment mortgages require mortgage default insurance. Mortgage default insurance premiums can either be paid up front or added to the amount you borrow.
With the federal government’s Home Buyers’ Plan, you can use up to $25,000 in RRSP savings ($50,000 for a couple) to help pay for your down payment on your first home. You then have 15 years to repay your RRSP.

4) “Where can I find up-to-date information on home prices and the real estate market in my area?”
- The Multiple Listing Service (MLS) offers an easy
way to browse through home listings in every part of Canada. Easy links let you look at the housing market in specific cities by neighbourhood, price range, type of home and other parameters. It’s a great way to get a sense for the types of homes available in your community and their features and price ranges. Visit www.mls.ca.
- The Canadian Real Estate Association (CREA) website helps you look at average home prices in communities across Canada and locate a realtor in your area. The site also includes useful home-buying tips and a glossary of common real estate terms. Go to www.crea.ca.
- The Canadian Mortgage and Housing Corporation (CMHC) provides a content-rich website with detailed, step-by-step information on buying, selling and renovating a home, as well as up-to-the-minute news of interest to homebuyers and sellers. Visit www.cmhc.ca and click on “Buying or Renting a Home”.

RBC Royal Bank® provides detailed information on mortgage options and first-time home buying at www.rbcroyalbank.com/products/mortgages/first_time_home_buyers.

Personal Message from TONY & JANINE:

 



Teaming up with Tony Preziuso & Royal Bank has been a rewarding experience by helping our clients in the buying process. Making things easier where Tony and I provide the quality service, the expert advise and the team effort to seal the deal on property/investment sales at ease. 

JANINE THOMSON
250-812-6920
info@janinethomson.net

We know that providing the best service to your clients is your top priority. Now, when you refer your clients to me, they can get the same mortgage pricing as an RBC employee to help them save on interest. 

For a limited time your client can get the same great rate RBC employees get on 4 and 5 year fixed rate mortgages, along with:
- Flexible payment options – to help pay down your mortgage faster
- Firm, fast approvals – so there are no surprises on closing day
- Access to expert mortgage advice

TONY PREZUISO
Mortgage Specialist 
RBC Royal Bank 
250-661-5969 
tony.preziuso@rbc.com

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NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate.