Tara Sales Mortgage Broker

Wishing everyone a happy and safe long weekend! Enjoy!

Get ahead in your home-buying journey with a pre-approval:
💰 Know your budget
⏩ Speed up the process
🔒 Lock-in a favorable rate
😌 Smooth and stress-free experience
Reach out today for your free pre-approval and I'll help guide you towards homeownership! 🤝🏡💼

It is important to know what you need in order to qualify for a mortgage. It is also important to know what factors could be holding you back from qualifying. Below are 5 key points that could be impacting your buying power.
📌 Carrying too much debt
📌 Poor credit history or not enough credit history
📌 Not enough income or assets
📌 Not enough of a down payment
📌 Unstable employment history
If you feel that any of the above points could be impacting your chances of qualifying for a mortgage, reach out to your Mortgage Broker. They are armed with solutions and ready to help.

You can improve your ability to qualify for a mortgage. To get an idea of what strategies will work best for you, have a conversation as early in the process as possible with your Mortgage Broker.
Being as prepared as possible will reduce stress and possibly save you money. Get in touch and let's make sure your experience is both happy and prosperous!
Below are five ways to improve mortgage qualifying success:
📌 Help from parents – cosign, gifted downpayment
📌 Pay off debt
📌 Polish your credit
📌 Put down a larger down payment
📌 Get advice early

Household debt levels have reached record highs in Canada.
If you are a homeowner with high-interest debt, it may make sense to refinance your mortgage, which could free up more cash each month.
Reach out today and we can discuss your options.

As your local Kamloops Mortgage Broker, helping you understand the ever-evolving landscape of mortgage financing is crucial. It’s essential to know how external financial factors can influence mortgage rates. One significant factor is the bond market in Canada and the US.

Check out my newest blog post on how bond yields impact mortgage rates.

https://tarasalesmortgages.com/kamloops-mortgage-broker-how-bonds-affect-mortgage-rates/

Looking to add value to your home without breaking the budget? Below are 5 easy renovations you can take on that will increase the value of your home.
📌 Replacing or refreshing your front door, even adding a smart lock
📌 Replacing old caulking and changing the towel racks, storage and hardware can help modernize your bathroom
📌 For your kitchen, replace kitchen lighting and re-facing kitchen cabinets
📌 Upgrading door hardware
📌 Replacing your garage doors

Here are 5 things to consider when applying for a mortgage:
1️⃣ Check your credit score
2️⃣ Save a sizeable down payment
3️⃣ Keep your income stable
4️⃣ Pay down existing debt
5️⃣ Know what you can afford and what you can’t
Of course, a great rate always helps too!
Reach out to me today, and let's find you a home!

Hi there! Did you know that the Stress Test can impact your borrowing power? When you work with a Mortgage Broker like Tara Sales Mortgages, you can explore alternative lending options to find the best fit for you. Reach out today to learn more about how we can help you navigate through mortgage qualifying processes. With access to credit unions and private lenders with different qualifying methods, we've got you covered for all your mortgage needs. Contact us at 250-320-4110 or [email protected] to get started!

With a Cash Back Mortgage you receive a percentage of your total mortgage amount as cash💰️.
You can use this money for closing costs, moving expenses🚚, renovations🪚 or to pay down existing debt.
Although the rates 📈 for Cash Back Mortgages are higher it can still be beneficial to your financial situation.
Reach out today 📲 to see if a Cash Back Mortgage is right for you.

📲250-320-4110
📩[email protected]
🌐www.tarasalesmortgages.com

As we near the fourth quarter of 2024, I, your local Kamloops mortgage broker, want to help you be prepared for the year ahead.
The Canadian real estate market is on the cusp of a significant shift. As we approach 2025, homeowners, especially investors and those with second homes purchased during the COVID-19 pandemic, may face a challenging reality. Rising interest rates are set to dramatically increase mortgage payments, potentially making those once-affordable properties a financial burden.

Read my latest blog post—
https://tarasalesmortgages.com/local-kamloops-mortgage-brokers-helps-you-navigate-your-2025-mortgage/

If you’re a homeowner, now could be the perfect time to consider refinancing. Refinancing your mortgage can help you shorten your mortgage term, access equity in your home or consolidate high-interest debt. 💳💰
With access to multiple lenders, as your Mortgage Broker, I work with you to find the best refinancing solution to meet your unique needs. Don’t wait to take control of your financial future.
Reach out to explore how refinancing can help you achieve your goals.
Contact me today for a personalized consultation. 📱

📲 250-320-4110
📩 [email protected]
🌐 www.tarasalesmortgages.com

While many people decide to co-own a home for cultural reasons or to help take care of elderly parents or young children, more Canadians are now turning to co-ownership as a means to combat housing in-affordability.

By dividing the cost of a home among more people, Canadians can more easily get on the property ladder and expand their home search to more desirable locations or larger properties that may not have been accessible with their budget alone.

A co-ownership strategy allows you to get into a home today, build equity, cash out, and buy your home with the equity you’ve built over the first four or five years.

Have you been pondering a co-ownership strategy?
Let's talk today!

📲250-320-4110
📩[email protected]
🌐www.tarasalesmortgages.com

Energy-efficient Upgrades 💡: Invest in energy-efficient appliances, smart thermostats, and LED lighting to lower your utility bills and reduce energy consumption. It’s a win-win for your wallet and the environment.

DIY and Home Maintenance 🛠️: Take on simple home maintenance tasks, such as changing air filters, caulking windows, and landscaping. You can save on hiring professionals and keep your home in top shape by doing it yourself.

Bundle your services 🏠: Consider bundling your home insurance, internet, and other services to take advantage of discounts and promotional offers. This can help you cut down on monthly expenses and keep more money in your pocket.

Implement these money-saving strategies to make your homeownership journey even more financially rewarding.

Are you new to Canada and looking to buy a home? We can help you find the best lending solutions available. As your Mortgage Broker, I have access to lenders who specialize in Newcomer Mortgages. Reach out today, and let's find you a home.

We know that borrowing money is harder for self-employed Canadians, which is one reason why working with a Mortgage Broker is so important.
Brokers have access to lenders specializing in self-employed mortgages and understand business owners' challenges.
If you are self-employed and looking to buy, renew, or refinance, reach out today.

🔔 Is your mortgage up for renewal? With the latest rate drop and the indication rates could go down even more, seeking the advice of a mortgage broker is crucial in today's market.

📈 Reach out today, and let's secure your financial future! 🏠💼

Wishing everyone a happy and safe long weekend, enjoy!

Congratulations 🎉 to my clients, P&B, on purchasing their new home 🏡 in Bentley, Alberta.
I am super excited to see the transformation of your home over the coming months.
Thank you, , for being a fantastic realtor during the process!

I am super excited to offer my mortgage brokering services not only in British Columbia but also in central Alberta 🎉.

The path to homeownership starts here ❤️

Going through a divorce or separation is stressful enough; having to sell your house on top of it compounds that stress.
Thankfully, as your Mortgage Broker I have access to a Spousal Buyout Program. This program allows you to keep your home while paying your ex their portion of the home’s equity.

Reach out today for more details.

BCREA stats are out as of July 30th.
The Housing Monitor Dashboard was created to help REALTORS® monitor BC’s housing market. This dashboard provides up-to-date data on key variables for public education and use.
Mortgage rates are one of the most important drivers of housing activity in BC. Changes in mortgage rates and mortgage qualifying costs can cause significant changes in housing market trends. The chart below provides up-to-date data on average fixed and variable mortgage rates available in the Canadian mortgage market.

Tomorrow is August 01😲!

Is it going by too quickly? Tell me it's not just me!

There is just over a month before the kids go back to school, and here are 5 fantastic ways to entertain them
1️⃣ Go paddle boarding on any of our amazing lakes.
Kamloops has over 100 lakes within an hour's drive from the city. That means plenty of options for serene paddling that'll make outdoor enthusiasts swoon.
2️⃣ Go explore the BC Wildlife Park
Learn about wild animals indigenous to British Columbia.
3️⃣ Ride Canada's Largest Municipal Mountain Bike Park
The Kamloops Bike Ranch! The Ranch caters to all skill levels.
4️⃣ Go check out some of our fantastic golf courses.
Not a great golfer like me; the driving range is a great time too!
5️⃣ Hiking
Discover Kamloops's beauty on our endless hiking trails through rolling grasslands, vast canyons, and towering hoodoos. The area has many kid-friendly trails.

Do you have a favourite summer activity you love doing in the Loops? Share it in the comment section!

Here are five tips to help you get ready to buy your first home:
1️⃣ Keep a good credit score! The higher, the better. This is a snapshot of your financial health, and lenders use this to gauge your ability to repay debts.
2️⃣ Save a down payment! The bigger the down payment, the better – the minimum down payment when less than $500,000 is 5%; between $500,000 and $999,999, you will need 5% for the first $500K and 10% for the portion above $500K, and $1 million+ you need 20% of the purchase price.
3️⃣ Keep your income stable. Lenders like to see proof that you can make your payments; a full-time job is the best way to show it.
4️⃣ Pay down existing debt. Your balances don’t need to be at $0, but how much debt you carry will affect how much you can borrow.
5️⃣ Get a mortgage pre-approval!

As your local Kamloops Mortgage Broker, I feel it’s essential for mortgage and variable debt holders to understand the Bank of Canada’s(Bank) decision to drop rates for the second consecutive time and what could impact further rate drops.

Do you want to understand the reasoning behind the recent cut and the future of rate cuts?

Read my most recent blog post!

https://tarasalesmortgages.com/kamloops-mortgage-broker-what-does-the-rate-cut-mean-for-you/

When buying a home in Canada, remember to budget for more than just the initial cost. It's important to factor in expenses like legal fees, land transfer taxes, and home inspection fees, ranging from 1.5% to 4% of the home's price. Planning for these additional costs upfront can help you navigate the path to homeownership smoothly and avoid any unexpected surprises.

As expected, the Bank of Canada lowered its benchmark interest rate by 25 bps today, bringing it to 4.50%.

The next rate announcement is scheduled for Wednesday, September 4, 2024.

Finding your way through the mortgage maze can be daunting.
With a Mortgage Broker like myself by your side, you'll receive personalized guidance tailored to your financial situation.
I'll help you secure the best rates and terms, simplifying the process so you can make informed decisions at every turn.

Let's talk today!

5️⃣ things not to do after you have been approved for a mortgage:

1️⃣ Leave or switch jobs
2️⃣ Make a major purchase
3️⃣ Apply for new credit
4️⃣ Pay off your debt
5️⃣ Co-sign on a loan

If you have questions about what you should or shouldn’t do while applying for a mortgage, contact me today📲. I am with you every step of the way.

When you are ready! The #1 thing you can do if you are considering buying is get advice early. Talking with a mortgage professional helps you understand:
⠀⠀⠀⠀⠀⠀⠀⠀⠀
👉 What you can afford
👉 The down payment you need
👉 Costs involved with buying a home
👉 Improving your credit
👉 Prepayment options
👉 Refinancing penalties (if you decide to do so down the road)
👉 Budgeting and more!

Contact me today 📲