Deposit vs Down Payment in BC: How Much Do You Hand Over With Your Offer?
Your offer just got accepted (or you are about to write one) and now someone mentions “the deposit.” Is that the same as your down payment? How much deposit to buy a house in BC is normal, and when is it due? Here is the whole thing in plain terms, with the numbers North Vancouver […]
Reverse Mortgage or Downsize? A North Shore Homeowner’s Comparison
You own a North Shore home worth a couple of million dollars, your income is lower than it used to be, and you want to unlock some of that equity. The two big options people weigh are a reverse mortgage (stay put, borrow against the house) and downsizing (sell, buy something smaller, pocket the difference). […]
BC Property Tax Deferment: Who Qualifies, What It Really Costs, and When It Backfires
Property tax deferment is a loan from the BC government that pays your annual property taxes for you. You keep your home and your title, you make no payments, and nothing is due until you sell, refinance or pass away. To qualify you need to be 55 or older, a surviving spouse, a person with […]
Private Mortgages in BC: When They Make Sense and What They Really Cost
A private mortgage is a loan from an individual investor or a mortgage investment corporation rather than a bank. They lend on the property, not on your income, which is why they can approve people banks decline. What Is a Private Mortgage and Who Uses One? (Short Answer) The cost is the point. Rates run […]
Assumable Mortgages in BC: Can You Take Over the Seller’s Low Rate?
Sometimes, but far less often than the internet suggests. Can You Assume a Mortgage in BC? (Short Answer) Technically, most fixed rate mortgages in Canada are assumable with lender approval. In practice the lender controls the whole thing: you have to qualify as if you were applying fresh, including the mortgage stress test, and many […]
Does a Mortgage Pre Approval Hurt Your Credit Score in Canada?
Yes, slightly. A mortgage pre approval triggers a hard inquiry, which typically costs 5 to 8 points and fades within a few months. Does Pre Approval Affect Your Credit Score? (Short Answer) That is it. It is a small, temporary dip, and it is nothing compared to the cost of shopping for a home without […]
The Mortgage Stress Test in BC (2026): What Rate You Actually Have to Qualify At
The stress test rule has not changed: you must qualify at the greater of your contract rate plus 2%, or 5.25%. What Rate Do You Have to Qualify At? Contract Rate Plus 2% or 5.25%, Whichever Is Higher With the best uninsured 5 year fixed sitting around 4.29% in September 2026, that means most buyers […]
Completion, Possession and Adjustment Dates in BC: What Happens on Each One
Three dates sit at the bottom of every BC contract of purchase and sale, and they do three different jobs. Completion, Possession and Adjustment: The Difference in One Table Completion Date Possession Date Adjustment Date What happens Money moves and title transfers You get the keys Costs are split between buyer and seller Who […]
Title Insurance in BC: What It Covers, What It Costs, and When to Skip It
Title insurance is a one time premium, usually $250 to $700, that protects you against problems with your ownership of the property: title fraud, undisclosed liens, encroachments, and work a previous owner did without permits. What Is Title Insurance and Do You Need It in BC? (Short Answer) You do not legally need it […]
The Property Disclosure Statement in BC: What Sellers Must Reveal and What They Don’t
A Property Disclosure Statement, or PDS, is a form where the seller answers roughly fifty yes or no questions about the property, based on what they personally know. Leaks, flooding, structural repairs, unpermitted work, drug use in the home, and so on. What Is a Property Disclosure Statement? (Short Answer) Two things to understand […]