Carol Palfrey Associate Broker " The Eastside is my Neighbourhood "

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Cell:1 (604) 818-7422
Office :1 (604) 263-1911
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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%

 

 

 
I have sold a property at 6637 DUNBAR ST in Vancouver.
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.
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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.
Read Full Story
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 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 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
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
I have listed a new property at 6637 DUNBAR ST in Vancouver.
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 September 23rd 1-3 pm
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Saturday, September 23, 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 September 23rd 1-3 pm
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, September 17, 2017 1:00PM - 3:00PM Open House
Priced below BC Assessment. Biggest lot for the lowest price on the west side! 74.25 x 132 lot! Like a Gulf Island retreat without the ferry ride, this artist’s hide-away is a 10 minute walk from the river and a golf course. It’s a 15 minute drive from UBC, the best schools, a library, a swimming pool, community centers and riding stables. From your deck, watch eagles wheel above while hummingbirds nest in your rhododendrons. Perfect for a renovation or to build your dream home. This West Coast contemporary in the quiet part of Southlands is unique and is virtually all on one level. Built by an architect as his own home, it has intriguing angles, balconies and many skylight, four bedrooms, 2 bathrooms, gas fireplace, air conditioning a west-facing. backyard.
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, September 10, 2017 1:00PM - 3:00PM Open House
Priced below BC Assessment. Biggest lot for the lowest price on the west side! 74.25 x 132 lot! Like a Gulf Island retreat without the ferry ride, this artist’s hide-away is a 10 minute walk from the river and a golf course. It’s a 15 minute drive from UBC, the best schools, a library, a swimming pool, community centers and riding stables. From your deck, watch eagles wheel above while hummingbirds nest in your rhododendrons. Perfect for a renovation or to build your dream home. This West Coast contemporary in the quiet part of Southlands is unique and is virtually all on one level. Built by an architect as his own home, it has intriguing angles, balconies and many skylight, four bedrooms, 2 bathrooms, gas fireplace, air conditioning a west-facing. backyard.Open House Sunday September 10th 1-3 pm.
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, August 13, 2017 1:00PM - 3:00PM Open House
Priced below BC Assessment. Biggest lot for the lowest price on the west side! 74.25 x 132 lot! Like a Gulf Island retreat without the ferry ride, this artist’s hide-away is a 10 minute walk from the river and a golf course. It’s a 15 minute drive from UBC, the best schools, a library, a swimming pool, community centers and riding stables. From your deck, watch eagles wheel above while hummingbirds nest in your rhododendrons. Perfect for a renovation or to build your dream home. This West Coast contemporary in the quiet part of Southlands is unique and is virtually all on one level. Built by an architect as his own home, it has intriguing angles, balconies and many skylight, four bedrooms, 2 bathrooms, gas fireplace, air conditioning a west-facing. backyard. Open House Sunday August 13th 1- 3 pm.
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, August 6, 2017 1:00PM - 3:00PM Open House
Priced below BC Assessment. Biggest lot for the lowest price on the west side! 74.25 x 132 lot! Like a Gulf Island retreat without the ferry ride, this artist’s hide-away is a 10 minute walk from the river and a golf course. It’s a 15 minute drive from UBC, the best schools, a library, a swimming pool, community centers and riding stables. From your deck, watch eagles wheel above while hummingbirds nest in your rhododendrons. Perfect for a renovation or to build your dream home. This West Coast contemporary in the quiet part of Southlands is unique and is virtually all on one level. Built by an architect as his own home, it has intriguing angles, balconies and many skylight, four bedrooms, 2 bathrooms, gas fireplace, air conditioning a west-facing. backyard. Open House Sunday August 6th 1-3 pm
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, July 23, 2017 1:00PM - 3:00PM Open House
Priced below BC Assessment. Biggest lot for the lowest price on the west side! 74.25 x 132 lot! Like a Gulf Island retreat without the ferry ride, this artist’s hide-away is a 10 minute walk from the river and a golf course. It’s a 15 minute drive from UBC, the best schools, a library, a swimming pool, community centers and riding stables. From your deck, watch eagles wheel above while hummingbirds nest in your rhododendrons. Perfect for a renovation or to build your dream home. This West Coast contemporary in the quiet part of Southlands is unique and is virtually all on one level. Built by an architect as his own home, it has intriguing angles, balconies and many skylight, four bedrooms, 2 bathrooms, gas fireplace, air conditioning a west-facing. backyard. Open House Sunday July 24th 1-3 pm
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, July 9, 2017 1:00PM - 3:00PM Open House
Priced below BC Assessment. Biggest lot for the lowest price on the west side! 74.25 x 132 lot! Like a Gulf Island retreat without the ferry ride, this artist’s hide-away is a 10 minute walk from the river and a golf course. It’s a 15 minute drive from UBC, the best schools, a library, a swimming pool, community centers and riding stables. From your deck, watch eagles wheel above while hummingbirds nest in your rhododendrons. Perfect for a renovation or to build your dream home. This West Coast contemporary in the quiet part of Southlands is unique and is virtually all on one level. Built by an architect as his own home, it has intriguing angles, balconies and many skylight, four bedrooms, 2 bathrooms, gas fireplace, air conditioning a west-facing. backyard. Open House July 9 th Sunday 1-3 pm
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, July 2, 2017 1:00PM - 3:00PM Open House
Priced below BC Assessment. Biggest lot for the lowest price on the west side! 74.25 x 132 lot! Like a Gulf Island retreat without the ferry ride, this artist’s hide-away is a 10 minute walk from the river and a golf course. It’s a 15 minute drive from UBC, the best schools, a library, a swimming pool, community centers and riding stables. From your deck, watch eagles wheel above while hummingbirds nest in your rhododendrons. Perfect for a renovation or to build your dream home. This West Coast contemporary in the quiet part of Southlands is unique and is virtually all on one level. Built by an architect as his own home, it has intriguing angles, balconies and many skylight, four bedrooms, 2 bathrooms, gas fireplace, air conditioning a west-facing. backyard. Open House Sunday July 2nd 1-3 pm
Read Full Story
I have listed a new property at 6637 DUNBAR ST in Vancouver.
Priced below BC Assessment. Biggest lot for the lowest price on the west side! 74.25 x 132 lot! Like a Gulf Island retreat without the ferry ride, this artist’s hide-away is a 10 minute walk from the river and a golf course. It’s a 15 minute drive from UBC, the best schools, a library, a swimming pool, community centers and riding stables. From your deck, watch eagles wheel above while hummingbirds nest in your rhododendrons. Perfect for a renovation or to build your dream home. This West Coast contemporary in the quiet part of Southlands is unique and is virtually all on one level. Built by an architect as his own home, it has intriguing angles, balconies and many skylight, four bedrooms, 2 bathrooms, gas fireplace, air conditioning a west-facing. backyard. Open house Sunday June 25th 1-3 pm
Read Full Story
Please visit our Open House at 6637 DUNBAR ST in Vancouver.
Open House on Sunday, June 25, 2017 1:00PM - 3:00PM Open House
Priced below BC Assessment. Biggest lot for the lowest price on the west side! 74.25 x 132 lot! Like a Gulf Island retreat without the ferry ride, this artist’s hide-away is a 10 minute walk from the river and a golf course. It’s a 15 minute drive from UBC, the best schools, a library, a swimming pool, community centers and riding stables. From your deck, watch eagles wheel above while hummingbirds nest in your rhododendrons. Perfect for a renovation or to build your dream home. This West Coast contemporary in the quiet part of Southlands is unique and is virtually all on one level. Built by an architect as his own home, it has intriguing angles, balconies and many skylight, four bedrooms, 2 bathrooms, gas fireplace, air conditioning a west-facing. backyard. Open house Sunday June 25th 1-3 pm
Read Full Story
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