Carol Palfrey Associate Broker " The Eastside is my Neighbourhood "

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Cell:1 (604) 818-7422
Office :1 (604) 263-1911
Mailing Address:
4387 Main Street
Vancouver, BC
V5V 3R1 Canada

ARE YOU PLANNING TO BUY A HOUSE OVER $500K?

 

If so, you need to be aware that the down payment rules are changing as of February 15th, 2016. The most recent change to the mortgage rules requires people to put a larger down payment on property priced between $500,000 and $999,999.  Purchases over $1M require at least 20% down with most lenders requiring even larger down payments for purchase prices over $1.25M.

 

In Canada, all loans with less than 20% down payment require mortgage Insurance. By changing the guidelines for insured mortgages, the effect encompasses all lenders.

For purchases of $500,000 or below, a 5% down payment is still possible.  For purchases over $500,000, the down payment requirement gradually increases as 10% is required for the portion over $500,000.  For example, a $550,000 purchase will require $25,000 for the first $500,000 and $5,000 for the remaining $50,000. This is $5,000 more than previously required.

 

The old policies will remain in effect for files approved prior to February.. As most lenders hold rates for between 90 and 120 days, the actual completion date can extend to June.    

 

In our opinion, the silver lining here is that the government appears to feel they are not in a position to increase rates enough to slow down the market. For existing and new borrowers, this hints to continued low interest rates.

 

Here are a few examples of the new down payment requirements:

 

$500,000 ............ $25,000 ............... 5.00%

$550,000 ............ $30,000 ............... 5.45%

$600,000 ............ $35,000 ............... 5.83%

$650,000 ............ $40,000 ............... 6.15%

$700,000 ............ $45,000 ............... 6.43%

$750,000 ............ $50,000 ............... 6.67%

$800,000 ............ $55,000 ............... 6.88%

$850,000 ............ $60,000 ............... 7.06%

$900,000 ............ $65,000 ............... 7.23%

$950,000 ............ $70,000 ............... 7.37%

$999,999 ............ $74,999 ............... 7.50%

 

 

 
Please visit our Open House at 7272 INLET DR in Burnaby.
Open House on Saturday, December 9, 2017 1:00PM - 3:00PM Open House
A solidly built, well maintained bungalow on a generous 9,156 sq. ft. lot with beautiful views of the North Shore Mountains and Burrard Inlet. This family home has five bedrooms, two updated bathrooms, a renovated kitchen and a large living/dining area. The basement is finished with a brand new two bedroom suite that will assist with your mortgage. The landscaped west facing front yard is ideal for a vegetable garden while the mature back garden is perfect for children and pets and provides ample space for entertaining and relaxing. The home is within walking distance to all levels of schools as well as shopping at Kensington Plaza and recreational facilities such as Kensington ice rink and outdoor pool. Busses to SFU or downtown are only steps away. Call today to book a private showing.Open House Saturday December 9th 1-3 pm.
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Please visit our Open House at 7272 INLET DR in Burnaby.
Open House on Sunday, November 26, 2017 1:00PM - 3:00PM Open House
A solidly built, well maintained bungalow on a generous 9,156 sq. ft. lot with beautiful views of the North Shore Mountains and Burrard Inlet. This family home has five bedrooms, two updated bathrooms, a renovated kitchen and a large living/dining area. The basement is finished with a brand new two bedroom suite that will assist with your mortgage. The landscaped west facing front yard is ideal for a vegetable garden while the mature back garden is perfect for children and pets and provides ample space for entertaining and relaxing. The home is within walking distance to all levels of schools as well as shopping at Kensington Plaza and recreational facilities such as Kensington ice rink and outdoor pool. Busses to SFU or downtown are only steps away. Call today to book a private showing. Open House Sunday November 26th 1-3 pm.
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Please visit our Open House at 7272 INLET DR in Burnaby.
Open House on Sunday, November 19, 2017 1:00PM - 3:00PM Open House
A solidly built, well maintained bungalow on a generous 9,156 sq. ft. lot with beautiful views of the North Shore Mountains and Burrard Inlet. This family home has five bedrooms, two updated bathrooms, a renovated kitchen and a large living/dining area. The basement is finished with a brand new two bedroom suite that will assist with your mortgage. The landscaped west facing front yard is ideal for a vegetable garden while the mature back garden is perfect for children and pets and provides ample space for entertaining and relaxing. The home is within walking distance to all levels of schools as well as shopping at Kensington Plaza and recreational facilities such as Kensington ice rink and outdoor pool. Busses to SFU or downtown are only steps away. Call today to book a private showing. Open House November 19th 1-3 pm.
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Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Saturday, November 11, 2017 1:00PM - 3:00PM Open House
Southlands, one of the prettiest neighbourhoods in Vancouver. Enjoy this countryside setting, close to the Fraser River, Pacific Spirit Park and golf courses. Large 74.25 x 132 Lot. ( 9,800 sq ft) Perfect to build your dream home or renovate this West Coast contemporary! This home is very unique and has all of your living space on one level. The skylights bring the outdoors inside and the house is very much immersed in the natural setting. Four bedrooms, 2 bathrooms, gas fireplace, air conditioning and west facing private backyard. Close to top schools: St. George's, Crofton House, Southlands Elementary, Point Grey Secondary School. Direct transit to UBC's main campus is two blocks away. Dunbar & Kerrisdale shopping close by. Open House Saturday/Sunday November 11th /12th 1-3 pm.
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Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, November 12, 2017 1:00PM - 3:00PM Open House
Southlands, one of the prettiest neighbourhoods in Vancouver. Enjoy this countryside setting, close to the Fraser River, Pacific Spirit Park and golf courses. Large 74.25 x 132 Lot. ( 9,800 sq ft) Perfect to build your dream home or renovate this West Coast contemporary! This home is very unique and has all of your living space on one level. The skylights bring the outdoors inside and the house is very much immersed in the natural setting. Four bedrooms, 2 bathrooms, gas fireplace, air conditioning and west facing private backyard. Close to top schools: St. George's, Crofton House, Southlands Elementary, Point Grey Secondary School. Direct transit to UBC's main campus is two blocks away. Dunbar & Kerrisdale shopping close by. Open House Saturday/Sunday November 11th /12th 1-3 pm.
Read Full Story
Please visit our Open House at 7272 INLET DR in Burnaby.
Open House on Sunday, November 12, 2017 1:00PM - 3:00PM Open House
A solidly built, well maintained bungalow on a generous 9,156 sq. ft. lot with beautiful views of the North Shore Mountains and Burrard Inlet. This family home has five bedrooms, two updated bathrooms, a renovated kitchen and a large living/dining area. The basement is finished with a brand new two bedroom suite that will assist with your mortgage. The landscaped west facing front yard is ideal for a vegetable garden while the mature back garden is perfect for children and pets and provides ample space for entertaining and relaxing. The home is within walking distance to all levels of schools as well as shopping at Kensington Plaza and recreational facilities such as Kensington ice rink and outdoor pool. Busses to SFU or downtown are only steps away. Call today to book a private showing. Open House Sunday November 12th 1-3 pm.
Read Full Story
Please visit our Open House at 7272 INLET DR in Burnaby.
Open House on Saturday, November 4, 2017 1:00PM - 3:00PM Open House
A solidly built, well maintained bungalow on a generous 9,156 sq. ft. lot with beautiful views of the North Shore Mountains and Burrard Inlet. This family home has five bedrooms, two updated bathrooms, a renovated kitchen and a large living/dining area. The basement is finished with a brand new two bedroom suite that will assist with your mortgage. The landscaped west facing front yard is ideal for a vegetable garden while the mature back garden is perfect for children and pets and provides ample space for entertaining and relaxing. The home is within walking distance to all levels of schools as well as shopping at Kensington Plaza and recreational facilities such as Kensington ice rink and outdoor pool. Busses to SFU or downtown are only steps away. Call today to book a private showing. Open House Saturday November 4th 1-3 pm.
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Saturday, November 4, 2017 1:00PM - 3:00PM Open House
Southlands, one of the prettiest neighbourhoods in Vancouver. Enjoy this countryside setting, close to the Fraser River, Pacific Spirit Park and golf courses. Large 74.25 x 132 Lot. ( 9,800 sq ft) Perfect to build your dream home or renovate this West Coast contemporary! This home is very unique and has all of your living space on one level. The skylights bring the outdoors inside and the house is very much immersed in the natural setting. Four bedrooms, 2 bathrooms, gas fireplace, air conditioning and west facing private backyard. Close to top schools: St. George's, Crofton House, Southlands Elementary, Point Grey Secondary School. Direct transit to UBC's main campus is two blocks away. Dunbar & Kerrisdale shopping close by. Open House Saturday/Sunday November 4/5th 1-3 pm
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, November 5, 2017 1:00PM - 3:00PM Open House
Southlands, one of the prettiest neighbourhoods in Vancouver. Enjoy this countryside setting, close to the Fraser River, Pacific Spirit Park and golf courses. Large 74.25 x 132 Lot. ( 9,800 sq ft) Perfect to build your dream home or renovate this West Coast contemporary! This home is very unique and has all of your living space on one level. The skylights bring the outdoors inside and the house is very much immersed in the natural setting. Four bedrooms, 2 bathrooms, gas fireplace, air conditioning and west facing private backyard. Close to top schools: St. George's, Crofton House, Southlands Elementary, Point Grey Secondary School. Direct transit to UBC's main campus is two blocks away. Dunbar & Kerrisdale shopping close by. Open House Saturday/Sunday November 4/5th 1-3 pm
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, October 29, 2017 1:00PM - 3:00PM Open House
Southlands, one of the prettiest neighbourhoods in Vancouver. Enjoy this countryside setting, close to the Fraser River, Pacific Spirit Park and golf courses. Large 74.25 x 132 Lot. ( 9,800 sq ft) Perfect to build your dream home or renovate this West Coast contemporary! This home is very unique and has all of your living space on one level. The skylights bring the outdoors inside and the house is very much immersed in the natural setting. Four bedrooms, 2 bathrooms, gas fireplace, air conditioning and west facing private backyard. Close to top schools: St. George's, Crofton House, Southlands Elementary, Point Grey Secondary School. Direct transit to UBC's main campus is two blocks away. Dunbar & Kerrisdale shopping close by. Open House Sunday October 29th 1-3 pm.
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Saturday, October 28, 2017 1:00PM - 3:00PM Open House
Southlands, one of the prettiest neighbourhoods in Vancouver. Enjoy this countryside setting, close to the Fraser River, Pacific Spirit Park and golf courses. Large 74.25 x 132 Lot. ( 9,800 sq ft) Perfect to build your dream home or renovate this West Coast contemporary! This home is very unique and has all of your living space on one level. The skylights bring the outdoors inside and the house is very much immersed in the natural setting. Four bedrooms, 2 bathrooms, gas fireplace, air conditioning and west facing private backyard. Close to top schools: St. George's, Crofton House, Southlands Elementary, Point Grey Secondary School. Direct transit to UBC's main campus is two blocks away. Dunbar & Kerrisdale shopping close by. Open House Saturday October 28th 1-3 pm.
Read Full Story
Please visit our Open House at 7272 INLET DR in Burnaby.
Open House on Sunday, October 29, 2017 1:00PM - 3:00PM Open House
A solidly built, well maintained bungalow on a generous 9,156 sq. ft. lot with beautiful views of the North Shore Mountains and Burrard Inlet. This family home has five bedrooms, two updated bathrooms, a renovated kitchen and a large living/dining area. The basement is finished with a brand new two bedroom suite that will assist with your mortgage. The landscaped west facing front yard is ideal for a vegetable garden while the mature back garden is perfect for children and pets and provides ample space for entertaining and relaxing. The home is within walking distance to all levels of schools as well as shopping at Kensington Plaza and recreational facilities such as Kensington ice rink and outdoor pool. Busses to SFU or downtown are only steps away. Call today to book a private showing.Open House Sunday October 29th 1-3 pm.
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, October 22, 2017 1:00PM - 3:00PM Open house
Southlands, one of the prettiest neighbourhoods in Vancouver. Enjoy this countryside setting, close to the Fraser River, Pacific Spirit Park and golf courses. Large 74.25 x 132 Lot. ( 9,800 sq ft) Perfect to build your dream home or renovate this West Coast contemporary! This home is very unique and has all of your living space on one level. The skylights bring the outdoors inside and the house is very much immersed in the natural setting. Four bedrooms, 2 bathrooms, gas fireplace, air conditioning and west facing private backyard. Close to top schools: St. George's, Crofton House, Southlands Elementary, Point Grey Secondary School. Direct transit to UBC's main campus is two blocks away. Dunbar & Kerrisdale shopping close by. Open House Sunday October 22nd 1-3 pm
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Please visit our Open House at 102 2295 PANDORA ST in Vancouver.
Open House on Saturday, October 21, 2017 2:00PM - 4:00PM Open House
Ground level 1 bedroom condo across from Pandora Park in the fantastic East Village neighborhood. The suite is move-in ready in a solid, well run building that has been fully rain screened. Some features include: outdoor deck, in-suite laundry, gas fireplace, an open concept renovated kitchen with Corian counters and stainless appliances, bamboo floors throughout. Exceptional location!, just a short walk to transit, coffee shops, stores like Donald's Market, breweries, trendy restaurants and bars, only a short drive to Downtown or N Van. Pet friendly. Still available. Open House Saturday October 21st 2-4 pm. Or by appointment.
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Please visit our Open House at 7272 INLET DR in Burnaby.
Open House on Sunday, October 22, 2017 1:00PM - 3:00PM Open House
A solidly built, well maintained bungalow on a generous 9,156 sq. ft. lot with beautiful views of the North Shore Mountains and Burrard Inlet. This family home has five bedrooms, two updated bathrooms, a renovated kitchen and a large living/dining area. The basement is finished with a brand new two bedroom suite that will assist with your mortgage. The landscaped west facing front yard is ideal for a vegetable garden while the mature back garden is perfect for children and pets and provides ample space for entertaining and relaxing. The home is within walking distance to all levels of schools as well as shopping at Kensington Plaza and recreational facilities such as Kensington ice rink and outdoor pool. Busses to SFU or downtown are only steps away. Call today to book a private showing. Open House Sunday October 22nd 1-3 pm.
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Please visit our Open House at 2 2907 Woodland DR in VANCOUVER.
OPEN HOUSE: Saturday October 14th 2 to 4 pm
Welcome home! This beautiful, bright, top-half duplex is the one you're looking for. Windows on all sides flood the space in natural light, & the over height ceilings & fresh paint add to the sense of openness & space. Find the generous sized master with ensuite & another large bedroom above with room to entertain in the dining/living room on the main. You will love the character features alongside the modern updates for peace of mind. The home has been well maintained with updated wiring & pipes (1994 - with strata conv), roof (2011) and exterior painted 2014. Fantastic location on a quiet corner lot, steps to Clark Park, and close to the Drive, Trout Lake and skytrain. NOTE: 3rd bedroom has no closet.
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Please visit our Open House at 102 2295 PANDORA ST in Vancouver.
Open House on Monday, October 9, 2017 1:00PM - 3:00PM Open House
Ground level 1 bedroom condo across from Pandora Park in the fantastic East Village neighborhood. The suite is move-in ready in a solid, well run building that has been fully rain screened. Some features include: outdoor deck, in-suite laundry, gas fireplace, an open concept renovated kitchen with Corian counters and stainless appliances, bamboo floors throughout. Exceptional location!, just a short walk to transit, coffee shops, stores like Donald's Market, breweries, trendy restaurants and bars, only a short drive to Downtown or N Van. Pet friendly. Open House Thursday October 5th 6-7 pm Saturday October 7th 2-4 pm Monday October 9th 1-3 pm.
Read Full Story
Please visit our Open House at 102 2295 PANDORA ST in Vancouver.
Open House on Thursday, October 5, 2017 6:00PM - 7:00PM Open House
Ground level 1 bedroom condo across from Pandora Park in the fantastic East Village neighborhood. The suite is move-in ready in a solid, well run building that has been fully rain screened. Some features include: outdoor deck, in-suite laundry, gas fireplace, an open concept renovated kitchen with Corian counters and stainless appliances, bamboo floors throughout. Exceptional location!, just a short walk to transit, coffee shops, stores like Donald's Market, breweries, trendy restaurants and bars, only a short drive to Downtown or N Van. Pet friendly.
Read Full Story
Please visit our Open House at 102 2295 PANDORA ST in Vancouver.
Open House on Saturday, October 7, 2017 2:00PM - 4:00PM Open House
Ground level 1 bedroom condo across from Pandora Park in the fantastic East Village neighborhood. The suite is move-in ready in a solid, well run building that has been fully rain screened. Some features include: outdoor deck, in-suite laundry, gas fireplace, an open concept renovated kitchen with Corian counters and stainless appliances, bamboo floors throughout. Exceptional location!, just a short walk to transit, coffee shops, stores like Donald's Market, breweries, trendy restaurants and bars, only a short drive to Downtown or N Van. Pet friendly.
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, October 1, 2017 3:30PM - 4:30PM Open House
Southlands, one of the prettiest neighbourhoods in Vancouver. Enjoy this countryside setting, close to the Fraser River, Pacific Spirit Park and golf courses. Large 74.25 x 132 Lot. ( 9,800 sq ft) Perfect to build your dream home or renovate this West Coast contemporary! This home is very unique and has all of your living space on one level. The skylights bring the outdoors inside and the house is very much immersed in the natural setting. Four bedrooms, 2 bathrooms, gas fireplace, air conditioning and west facing private backyard. Close to top schools: St. George's, Crofton House, Southlands Elementary, Point Grey Secondary School. Direct transit to UBC's main campus is two blocks away. Dunbar & Kerrisdale shopping close by. Open house October 1st 3:30 to 4:30 pm.
Read Full Story