Invis - Richard Batke Mortgage Broker, Wilkins & Associates, Penticton BC - Richard's Blog

Debt Management by Richard Batke, Mortgage Broker in Penticton and Summerland BC

Invis - Richard Batke, Residential Mortgage Broker — Tue, 04 May 2010 18:07:08 -0400

Debt Management by Richard Batke, Mortgage Broker in Penticton and Summerland BC

Managing your debt is more important now than ever!

At best, consumer debt limits your real estate purchasing power and reduces your cash flow, and at worst can cost you your home and force you into bankruptcy.

I have recently seen several clients who wanted to consolidate their debt into their mortgage only to find that there is no equity left in their home. As real estate values decrease, people may find themselves owing more than their home is worth.

Others have tried to qualify for a mortgage, having great income, however, the consumer debt and car loan payments halted their dream until they make the necessary changes in their debt management.

Times have changed!

1. We can no longer assume that our homes will be continually increasing in value over the next few years, giving us the opportunity to consolidate the debt for items purchased now.

2. New legislation regarding mortgage lending has caused a reduction in the buying power of most individuals.

This means that if you want to purchase a home today, you will have to be able to carry a larger mortgage payment now than you would have for that same home before April 19 when the changes took effect.

Minimizing your consumer debt load is
more important than ever!

We need to manage our debt by:

     1. Adjust our thinking and actions from being overly consumptive to more
          frugal and cost effective.
     2. Reduce our consumer debt load and stop paying needless amounts of
          interest.
   3. Get back to simple financial basics as shown in the video above.

I have access to money coaches, financial advisors and I can also help you beat the debt monster with proven debt management strategies.

It is easier than you think, debt management simply requires a desire to change and the discipline to do it.

In our present economic times, the ones who will be the best positioned to capitalize on the opportunities they bring will be the ones that have successfully managed their debt and are not saddled up with consumer debt payments, those who have equity in their homes and a solid financial foundation and financial plan.

My Wife and I paid our home out in 5 years with some determination and creativity, saving countless $$ in interest payments.

Contact Richard Batke to learn how you can eliminate
your debt as fast as possible.

Richard Batke - Mortgage Broker

2004 Main St.
Penticton, BC
V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.richardbatke.com
map: 2004 Main St., Penticton, BC

Richard Batke
Mortgage Broker

* Purchase * Refinance * Renewals * Debt Consolidation *
* Business Equipment Leasing *

Serving the South Okanagan, including:

View Larger Map

Mortgage Broker use is more important than ever! by Richard Batke Invis - Wilkins & Associates, Penticton BC

Invis - Richard Batke, Residential Mortgage Broker — Tue, 27 Apr 2010 12:46:52 -0400

Mortgage Broker use is more important than ever! by Richard Batke Invis - Wilkins & Associates, Penticton BC

According to the 2010 Mortgage Consumer Survey from Canada Mortgage and Housing (CMHC) mortgage brokers continue to enjoy a 45% market share of all first time home buyers, 39% of all real estate buyers and show significant favour for refinances.

Mortgage Broker Use

Eight in ten of respondents who used a mortgage broker for their most recent transaction agree that the mortgage broker took the time to fully understand their financial situation and their needs in a mortgage.

Mortgage consumers included these benefits of using a mortgage broker:

- They are able to get the best deal or rate for their
clients

- They are convenient

- They offer time savings when obtaining a mortgage

The necessity of using a Mortgage Broker has
dramatically increased!

The mortgage lending landscape has changed so much recently, that you need to be intimately acquainted with each mortgage lender's policies.

For example:

The value of Rental Income

Most mortgage lenders do not value the rental income as they have in the past, drastically reducing the purchasing power of rental income.

For specific examples, see my previous blog entry: Rental Properties: How the new mortgage guidelines affect your buying power.

Today, there are very few lenders who will give you the full benefit from your rental income, and if you are shopping for yourself, the odds are that you not find the rental policy that you need.

Acceptable Income Types

Each lender has a list of income sources that they allow you to use as income. Some allow the use of Child Tax Benefits, some don't. Some allow Universal Child Care allowance, some don't. The list goes on.

Mortgage Qualification Criteria

Now most First Time Home Buyers will find themselves getting a 5 year fixed rate term as the savings and extra leverage of Variable rate Mortgages have been reserved for those buying a home less than they are qualified for and those with 20% down payment.

for specific examples, see First Time Home Buyer: Your Buying Power Has Changed

When you your purchasing power has been has been reduced, it is vitally important that you can make use of ALL your resources when qualifying for the home you want to buy.

If you have a lending institution who has the most conservative mortgage lending guidelines, they will decline your application.

If you use a Mortgage Broker, you will enjoy not only the best interest rates and mortgage products,
but you will get the maximum benefit from all of your specific resources!

I shop your mortgage to many different mortgage lenders including Chartered Banks, Credit Unions, "Mortgage Only" lenders and much more.

I have creative mortgage products including:

- Home Equity Line of Credit
(HELOC)

- 50 / 50 Mortgage - combined variable
and fixed rate mortgage

- Re-advancable Mortgage - not a Line
of Credit, though the funds can be
re-advanced

- Simple fixed or variable
rate mortgages

Richard Batke - Mortgage Broker

2004 Main St.
Penticton, BC
V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.thehomefinancecentre.com
map: 2004 Main St., Penticton, BC

Richard Batke
Mortgage Broker

* Purchase * Refinance * Renewal * Debt Consolidation *
* Business Equipment Leasing *

Serving the South Okanagan, including:

View Larger Map

Rental Properties: How the new mortgage guidelines affect your buying power, by Richard Batke, Mortgage Broker, Penticton and Summerland BC

Invis - Richard Batke, Residential Mortgage Broker — Fri, 23 Apr 2010 14:35:56 -0400

Rental Properties: How the new mortgage guidelines affect your buying power, by Richard Batke, Mortgage Broker, Penticton and Summerland BC

Purchasing Power and Rental Properties - How have the new mortgage lending guidelines in Canada affected you?

The Following comparison is using today's mortgage interest rates for all calculations.

Example 1: Non Owner Occupied Rental Property

Before April 19 Mortgage Lending Changes:

For Someone qualified to carry a mortgage payment of $1200/month for a rental property that has $1200/month income:

1. $237 900 purchase price with 5%
down payment

2. $313 000 purchase price with 20%
down payment

After April 19 Mortgage Lending Changes:

1. 5% down payment no longer available - 20% down payment minimum

2. $127 500 purchase price with 20% down for most lenders.

3. $313 000 purchase price for a select few lenders.

Summary:

CMHC is no longer participating in the non owner occupied rental market. This means that you must have a minimum of 20% down to invest in real estate.

It is also more important that ever for you to be aware of the lending policies of the many different mortgage lenders.

They can simply tell you that you are not qualified for your purchase because they are one of the vast majority of lenders that no longer allow you to get the maximum benefit from the income of your rental property.

Example 2: Owner Occupied Rental Property

Principal residence purchase with a self contained rental suite. This is also true for a duplex, triplex and fourplex.

Before April 19 Mortgage Lending Changes:

For Someone qualified to carry a mortgage payment of $1800/month:

1. $395 400 purchase price with 5% down
payment

2. $531 600 purchase price with 5% down
payment, $800/mo rental income from
suite

3. $631 250 purchase price with 20% down
payment, $800/mo rental income from
suite

After April 19 Mortgage Lending Changes:

1. $395 400 purchase price with 5% down
payment

2. $421 000 purchase price with 5% down
payment, 800/mo rental income from
suite

3. $631 250 purchase price with 20% down
payment, 800/mo rental income from
suite

Summary:

For owner occupied rental properties, your purchasing power has been significantly reduced if you do not have a minimum 20% down payment. This does not negate the benefit you receive by using a rental suite to pay your mortgage down faster! We are evaluating purchasing power only.

In this example, there was over $110 000 reduction in your buying power!

Overall Summary:

The new mortgage lending guidelines are ensuring that those who have equity are the ones who enjoy the maximum leverage from their resources. You need to become one of them, and I can help you get there.

Furthermore, different mortgage lenders evaluate loan obligations differently, some allow child tax benefits and UCC as income, some don't. The days of simple mortgage underwriting are gone, so make sure that you have a well trained and experienced mortgage broker in your corner.

Whatever you do, do not limit yourself to 1 or 2 banks. In order to be sure that you are getting the best mortgage, you need to have access to many lenders. I have access to more than 80.

Now more than ever it is critically important to use the services of a Mortgage Broker who is not only experienced and intimately acquainted with the individual lender's policies but one who has access to the few lenders who will continue to offer the previous rental income model.

This is not an extraordinary change, it is returning to similar guidelines we have experienced in the past, though we can still have a minimum down payment of 5%, rather than the old policy of 20% from years gone by.

The real estate market will adjust to these changes and
the market will find its equilibrium once again.

Richard Batke - Mortgage Broker

2004 Main St. Penticton, BC V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.richardbatke.com
blog: www.southokanaganmortgages.com
map: 2004 Main St., Penticton, BC

Richard Batke Mortgage Broker

* Purchase * Refinance * Renew * Debt Consolidation *
* Business Equipment Leasing *

Serving the South Okanagan, including:

View Larger Map

First Time Home Buyer: Your Buying Power Has Changed by Richard Batke, Mortgage Broker, Penticton and Summerland BC

Invis - Richard Batke, Residential Mortgage Broker — Fri, 23 Apr 2010 12:17:09 -0400

Buying power - How the new mortgage guidelines affect the First Time Home Buyer by Richard Batke, Mortgage Broker, Penticton and Summerland BC

The new mortgage lending guidelines are now in effect in Canada, here is how they affect First Time Home Buyers.

The Following comparison is using today's mortgage interest rates for all calculations.

Before April 19 Mortgage Lending Changes:

Someone qualified to carry a $1 500/month mortgage payment could purchase a home worth:

1. $394 200 with a 2 year term, Fixed
Rate Mortgage

2. $365 500 with a 3 year term, Fixed
Rate Mortgage

3. $365 500 with a Variable Rate
Mortgage

4. $329 500 with a 5 Year Fixed Rate

After April 19 Mortgage Lending Changes:

1. $276 100 for all closed terms less than 5 years, including Variable
Rate Mortgages

2. $329 500 with a 5 Year Fixed Rate

Purchase power reduction: $39 000

Summary:

Granted 2 year terms for first time home buyers were not popular for many reasons, the variable rate mortgage was. The reduction in this example from the 3 year term and variable rate mortgage is $36 000 as compared to the 5 year fixed rate mortgage.

As you can see, the new mortgage lending guidelines have effectively eliminated the variable rate mortgage and all mortgage terms less than 5 years as viable options for first time home buyers with less than 20% down payment.

Said another way, all first time home buyers with less than 20% down payment will likely use the 5 year fixed rate mortgage to finance their home, unless they buy a home that is worth less than the maximum amount they are qualified to buy.

This can be an excellent choice for some people, but that is a topic for another blog entry.

The real estate market will adjust accordingly, and settle down into business as usual.

Richard Batke - Mortgage Broker

2004 Main St. Penticton, BC V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.richardbatke.com
blog: www.southokanaganmortgages.com
map: 2004 Main St., Penticton, BC

Richard Batke Mortgage Broker

* Purchase * Refinance * Renew * Debt Consolidation *
* Business Equipment Leasing *

Serving the South Okanagan, including:

View Larger Map

April 19 Mortgage Lending Changes: Update by Richard Batke, Mortgage Broker

Invis - Richard Batke, Residential Mortgage Broker — Mon, 08 Mar 2010 21:52:30 -0500

April 19 Mortgage Lending Changes: Update by Richard Batke, Mortgage Broker

Variable Rate Mortgages & Short Term Fixed Rate Mortgages

As of April 19 these changes take effect: All variable rate mortgages and fixed rate mortgages with terms of less than 5 years, CMHC insured (i.e. less than 20% down payment purchase or more than 80% Loan to Value refinance), will all be qualified at the current 5 year POSTED rate.

This means, that your money will not go as far for high ratio mortgages.

Example: Today, you can qualify for a variable rate of 1.95% by being able to debt service at the current 3 year rate of 3.5%. The new rules would make us use the 5 year posted rate of 5.39%, which will reduce your purchasing power.

Someone who would qualify for a $200 000 mortgage now would qualify for $156 600 under the new rules for mortgages.

5 Year Fixed Rate Mortgages

5 year fixed rate mortgages for purchases will remain unchanged. Today, and under the new changes on April 19, the you would still qualify at the contract rate.

Today's 5 year fixed rate is 3.69%.

Business for Self April 9 This one is unfortunate for those business owners who are very good at reducing their taxable income.

The Stated Income Program will only be available for those who have been in business LESS than 3 years.

If you have been self employed LESS than 2 years, your business must be in the EXACT line of work as your previous employment. Otherwise, the BFS Stated Income available for a window of less than 1 year, between your second and third year of self employment.

CMHC feels that after 3 years, business owners should be producing enough taxable income to qualify for their mortgages.

The maximum loan to value for the Stated Income Program has also changed:

Purchases need 10% down minimum, and

Refinances can go as high as 85% loan to value.

Be sure to plan ahead if you are self employed!

Rental Properties will require 20% down payment and all refinances will be restricted to a maximum loan to value of 80%, as of April 19.

Richard Batke - Mortgage Broker 2004 Main St. Penticton, BC V2A 5H4 Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.thehomefinancecentre.com
blog: www.southokanaganmortgages.com
map: 2004 Main St., Penticton, BC

Richard Batke Mortgage Broker

* Purchase * Refinance * Renew * Debt Consolidation * * Business Equipment Leasing *

Serving the South Okanagan, including:

View Larger Map

Mortgage Lending Changes Take effect April 19: Richard Batke - Invis Mortgage Broker

Invis - Richard Batke, Residential Mortgage Broker — Wed, 17 Feb 2010 14:33:38 -0500

Mortgage Lending Changes Take effect April 19: Richard Batke - Invis Mortgage Broker

On Tuesday February 17, Jim Flaherty announced some new changes to the qualification criteria for mortgages.

The changes seem to be in line with Canada's conservative approach to the economy, which proved to be very helpful in during the last year, but they do present some tightening on mortgage lending in Canada.

Here is a summary of the changes:

Variable Rate Mortgages:

Borrowers must qualify at the current 5 year fixed rate, instead of a 3 year fixed rate, which is lower. This will end the ability to qualify for a larger mortgage by choosing a variable rate mortgage.

Table 5, cell 1

Rental Properties:

For non owner occupied properties, the minimum down payment will be 20%, rather than 5%. Since about 40% of condo purchases are for investment purposes, one would think that this will have a local impact on the price of condos in Penticton, which is good news for buyers. However, you will only need 5% down if you are purchasing owner occupied rental properties, such as a duplex. Buying a duplex, triplex or quad-plex can be a great way to become mortgage free faster and increase your purchasing power.

Houses with basement suites are also a great option.

Refinances:

Taking the equity out of your home will be limited to a maximum of 90% Loan to Value, from the current 95%LTV. Although this will impact some borrowers, it is not that great of a change, and it does protect you if the value of your home decreases.

If you are wanting to access your equity, one of the most versatile ways to do it is through one of the Home Equity Line of Credit products that I have available with a revolving portion at Prime +0.5%, with a free legal and appraisal package.

This option allows you to pay your equity take out faster and allows you to re-advance at will. Please feel free to contact me with any questions, and remember that if you will be affected by any of these changes, now is the time to act as the changes will be in effect on April 19, and some lenders may change their guidelines before that time.

More Information:
National Post Article
National Post Summary

Richard Batke - Mortgage Broker

2004 Main St.
Penticton, BC
V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.thehomefinancecentre.com
map: 2004 Main St., Penticton, BC

Richard Batke
Mortgage Broker

* Purchase * Refinance * Renew * Debt Consolidation *
* Business Equipment Leasing *

Serving the South Okanagan, including:

Mortgage Rate Specials in the South Okanagan

Invis - Richard Batke, Residential Mortgage Broker — Wed, 20 Jan 2010 14:51:33 -0500

Mortgage Rate Specials in the South Okanagan

Before reading this blog, Please read “Sometimes the lowest mortgage interest rate is just not worth it"

Mortgage Product Spotlight: The 50/50 Mortgage!

50% of your mortgage is at the 5 year fixed rate
50% of your mortgage is a variable rate
variable rate can be locked in at the current fixed rate for the appropriate term remaining
monthly payments are split between the fixed and variable portions
you can choose which portion to apply any lump sum payments

For example, you could use your prepayment privileges to pay down your highest rate (fixed rate) sooner to reduce your overall interest costs, OR, you could take the approach of paying down your ARM portion sooner to reduce the impact when Prime Rate increases.

Quick Close Rates and Mortgage Rate Specials

If your real estate deal (purchase, refinance, renewal, etc.) completes within a specified period of time, usually between 30 to 60 days, then you may be eligible for these rate specials available in the South Okanagan.
Here are a few current Mortgage Rate Specials:

Quick Close:

1 year fixed rate 2.3% (BN)
5 year fixed 3.89% (MV)

Rate Special:

3 year fixed rate 3.29% (TH)

All lending products are subject to change without notice and are subject to client qualification. E&OE, OAC

The lowest mortgage rate is only part of what makes a profitable mortgage.

Getting the mortgage product that is right for you with the highest level of service from your mortgage broker is what makes a mortgage truly special!

You do not have to fit your mortgage,
it can be made to fit you.

For more information on these or other mortgage rate specials, please contact me.

If you are currently in a mortgage contract and would like to know if you can benefit from one of my mortgage rate specials, we can set up a free mortgage review.

I would love to serve you in any way I can.

Richard Batke - Mortgage Broker

2004 Main St.
Penticton, BC
V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.thehomefinancecentre.com
map: 2004 Main St., Penticton, BC

Richard Batke
Mortgage Broker

* Purchase * Refinance * Renew * Debt Consolidation *
* Business Equipment Leasing *

Mortgages and Leasing in the South Okanagan, including:

Victoria Place Condo Development For Sale in Summerland BC

Invis - Richard Batke, Residential Mortgage Broker — Mon, 15 Feb 2010 17:05:39 -0500

Victoria Place Condo Development For Sale in Summerland BC

Richard Batke, Mortgage Broker: Mortgage payments from $852/ mo with 5% down! Victoria Place Condo Development is for sale in downtown Summerland BC featuring six 1 and 2 bedroom floor plans to choose from.

Victoria Place Condo Development has the features including:

6 Open Floor Plans
2 Bedroom or 1 Bedroom and Den
9' Ceilings
Stainless Steel Appliances
Granite Countertops
Quality Finishing throughout
Secure Parking
Great Location!
Walk to all amenities.

With a tudor style that is characteristic of the town of Summerland, BC, Victoria Place Condo Development boasts covered balconies, stucco with cultured stone accents, decorative chimneys with the convenience of intercom security, secure parking, monitored fire protection and more. This is one of the premier condo developments for sale in Summerland BC!

These luxurious condos are available for as little as:
$852 / month* (3 year term, Prime - 0.30% variable rate)
$1097 / month* (5 year term, 3.69% fixed rate)
With as little as 5% down (approx $13 000) you can own one of these great brand new condos.

Contact Richard Batke today to get pre-approved and discuss your financing options!

* Based on 5% down payment, P&I pmts including CMHC fee. Property taxes and strata fees not incl. Rates subject to change without notice, OAC, E&OE

Victoria Place Condo Development Sales & Information:

Raymond Maaske, Realtor

Phone: 250-488-8764
email: raymondmaaske@gmail.com
web: www.okanaganstar.com

Victoria Place Condo Development Mortgage Financing:

Richard Batke - Mortgage Broker

2004 Main St.
Penticton, BC
V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.thehomefinancecentre.com
map: 2004 Main St., Penticton, BC

Richard Batke
Mortgage Broker

* Purchase * Refinance * Renew * Debt Consolidation *
* Business Equipment Leasing *

Mortgages and Leasing in the South Okanagan, including:

View Larger Map

3 Bedroom Town Home For Sale in Summerland BC 7923 Hespeller Road - $289,982

Invis - Richard Batke, Residential Mortgage Broker — Thu, 04 Feb 2010 15:47:07 -0500

3 Bedroom Town Home For Sale in Summerland BC

Mortgage Payment: $1130/month* (based on 5% down payment, 3.35%, 3 year term, 35 year amortization.)

Many other options available, contact

Richard Batke

Cell: 250-809-0285
Email: richardbatke@invis.ca
Web: www.thehomefinancecentre.com

* Rate specials may be available, subject to change without notice, OAC & E&OE

Via Raymond MAASKE Summerland Penticton Real Estate (HomeStar Realty Summerland & Penticton BC Real Estate):

3 Bedroom Town Home For Sale in Summerland BC 7923 Hespeller Road - $289,982

Family & Pet friendly town home in great neighbourhood. This town home has two bedrooms upstairs. Both bedrooms have their own balconies overlooking their landscaped backyard and Okanagan Lake. The master bedroom has a large walk-in closet and en suite shower, toilet and sink. The laundry is also on the top floor. The well-designed main floor allows you to serve from the kitchen featuring a walk-in pantry, relax in the living room and dining room looking outside to the balcony that is accessed from both the living and dining rooms. Moving downstairs you can either have a large third bedroom/guestroom and/or recreation room. The basement provides ample storage space. This home has a gas stove, featured gas fireplace, and hardwood floors in the dining room.

View Larger Map
3 Bedroom Town Home For Sale in Summerland BC 7923 Hespeller Road - $289,982
Raymond MAASKE

Owner/Agent

“Your #1 Source for Summerland & Penticton Real Estate”

www.okanaganstar.com

Mobile: 250-488-8764 Office: 250-494-3115

Visit my Blog or at Localism.com

Follow us on Twitter Become a fan on Facebook

Variable Rate Mortgages in Penticton BC

Invis - Richard Batke, Residential Mortgage Broker — Wed, 03 Feb 2010 17:23:49 -0500

Variable Rate Mortgages in Penticton BC

Is a variable rate mortgage right for you? Richard Batke, mortgage broker with Invis explains the variable rate mortgage to help you find out!

What is a Variable Rate Mortgage? It is a mortgage where the interest rate is periodically reviewed and adjusted to reflect changes in the mortgage lender's Prime Rate.

The interest rate on a variable rate mortgage is tied to the lender's prime rate either by a premium or discount.

Most lenders are now offering VRMs at a discount from prime. Prime – 0.3% (1.95%) is available at this time. For higher risk applications, rates are at a surcharge over prime.

VRMs are available in 3 and 5 year terms.

How Does It Work?

Variable rate mortgages have a fluctuating interest rate, following Prime Rate.

Payments can be either a fixed constant amount, or the payment can change with the interest rate, depending on the mortgage lender and your preference.

You have the option to lock in your rate in to the current fixed rate for the remaining term, should you choose to do so. Individual lenders have slightly different lock in policies, so be sure to understand the terms of your contract, which your mortgage broker can explain to you.

Why Use a Variable Rate Mortgage?

Lower interest rates. I have clients that have been enjoying a mortgage interest rate of 1.5% for the last year. They have gained tremendous equity in their homes since a good portion of their payment is paying down the principal, instead of interest.

What are the Risks?

Fixed mortgage interest rates are related to the bond market, and variable mortgage rates are tied to prime rate. The two rates are completely independent of each other.

When you go to lock in your variable rate, you run the risk that fixed rates may be higher than you had anticipated.

Is a Variable Rate Mortgage Right for Me?

When variable rate mortgages may not be a good choice:

1. If you want to get your mortgage and then forget about it for the next few years, or

2. If your income is likely to remain constant and you want to have a constant mortgage payment.

When variable rate mortgages may be a good choice:

1. If you are comfortable with changing interest rates and want to be involved in managing your mortgage, or

2. If you are considering a short term mortgage, for example 2 year term, a VRM would also make sense. Prime rate would have to increase by over 1% in 2 years to negate the savings enjoyed with the VRM. This is not likely to occur, and if it was occurring, you could still lock in at a current fixed rate.

Richard Batke - Mortgage Broker

2004 Main St.
Penticton, BC
V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web:www.thehomefinancecentre.com
map: 2004 Main St., Penticton, BC

Richard Batke
Mortgage Broker

* Purchase * Refinance * Renew * Debt Consolidation *
* Business Equipment Leasing *

Mortgages and Leasing in the South Okanagan, including:

View Larger Map

Mobile Mortgage Specialist in Penticton BC

Invis - Richard Batke, Residential Mortgage Broker — Wed, 03 Feb 2010 11:52:33 -0500

Mobile Mortgage Specialist in Penticton BC

Richard Batke is a Mobile Mortgage Specialist in Penticton, BC serving the South Okanagan. Book your appointment now: 250-809-0285 or visit www.thehomefinancecentre.com.

As a Mobile Mortgage Specialist, I bring a wide selection of lenders to your door, at a time and location convenient for you!

I represent you! I do not work for, or represent any lender, my only goal is to connect you with the mortgage product and lender that fits you best, at the lowest rate available.

I work for you and negotiate in your best interests only!

I have access to over 80 lenders including:

Chartered Banks
Credit Unions
Regional Lenders
"Mortgage Broker Only" Lenders
Private Lenders

Here are some of the unique mortgage products that I have access to as your mobile mortgage specialist:

Home Equity Line of Credit:

I have several lenders offering HELOC's, each with different qualification criteria and options. You can protect yourself from rising interest rates by segmenting your mortgage balance into any combination of variable or fixed rates and have access to the equity in your home through a revolving line of credit!
50/50 Variable / Fixed Rate Mortgage:

Not sure if you want a variable or fixed rate? You can have both. This allows you to take advantage of today's historically low fixed interest rates and have the other half in a variable rate that can be locked in at any time. It is a great option to take advantage of today's low interest rates and minimize the risk associated with a variable rate mortgage!
3 year term variable rate mortgages:

Variable rate mortgages are typically offered with 5 year term, however I have lenders offering exceptionally low rates for 3 year terms!
Rate specials and Quick Close offers.

Why allow me to be your mobile mortgage specialist?

I save you time:
by sourcing mortgage for you
I save you money:
by negotiating your mortgage for you
Convenience:
I can meet with you at a time and place that fits your schedule
I give you more options:
a very wide variety of lenders
I preserve your credit score:
I need only one copy of your credit report to shop all available lenders

Most of all, so you can do the things that matter most!

Richard Batke - Mortgage Broker

2004 Main St.
Penticton, BC
V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.thehomefinancecentre.com
map: 2004 Main St., Penticton, BC

Richard Batke
Mortgage Broker

* Purchase * Refinance * Renew * Debt Consolidation *
* Business Equipment Leasing *

Mortgages and Leasing in the South Okanagan, including:

View Larger Map

Summerland BC Roofing

Invis - Richard Batke, Residential Mortgage Broker — Sat, 30 Jan 2010 21:25:18 -0500

SIS Exteriors has a great reputation for excellence in service, quality workmanship and integrity. If you need a great roofing company in Summerland BC, I recommend SIS Exteriors!

Richard Batke
Invis - Wilkins & Associates Mortgage Brokers
2004 Main St, Penticton BC
250-809-0285
richardbatke@invis.ca
www.thehomefinancecentre.com

Via Raymond MAASKE Summerland Penticton Real Estate (HomeStar Realty Summerland & Penticton BC Real Estate):

Summerland BC Roofing

I highly recommend S.I.S. Exteriors located right here in Summerland BC for all your roofing needs. They have a variety of other services available but for roofing in Summerland BC call SIS Exteriors

We had our home re-roofed by SIS Exteriors .... The proof is right above me!!

Summerland BC Roofing

Raymond MAASKE

Owner/Agent

“Your #1 Source for Summerland & Penticton Real Estate”

raymondmaaske@gmail.com www.okanaganstar.com

Mobile: 250-488-8764 Office: 250-494-3115

Visit my Blog or at Localism.com

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Condos For Sale in Penticton BC

Invis - Richard Batke, Residential Mortgage Broker — Sat, 30 Jan 2010 06:41:36 -0500

Condos for Sale in Penticton BC

Complete listing of all condos for sale by Realtor. For mortgage Pre-Approval contact Richard Batke at 250-809-0285 or apply online at Invis - Wilkins & Associates Mortgage Brokers

Quick MLS searches by Price Range:

Condos for Sale: Under $350 000
Condos for Sale: Over $350 000

Penticton is a geographically small community with a wide selection of condominiums for sale.

There are currently about 135 condos for sale in Penticton, so you will be sure to find one that suits all of your needs and more. Priced from $85 999 to $1.7 million, these condos for sale appeal to the broadest selection of home buyers!

Single bedroom condos for sale:

Price: $85 999
Monthly Mortgage Payment: $370*

* 5% down, 3.99% with a 5 year term, amortized over 35 years. Incl. CMHC fee. OAC E&OE

Double bedroom condos for sale:

Price: $150 000
Monthly Mortgage Payment: $650*

* 5% down, 3.99% with a 5 year term, amortized over 35 years. Incl. CMHC fee. OAC E&OE

Over 20 Luxury condos are for sale, priced from $500 000 to $1,699,999.

Panoramic lake views in a resort style community with quality interior finishing that pleases even the most refined tastes are characteristic of these prime luxury condos for sale.

About Penticton BC

Located between two beautiful lakes in a valley lined with orchards, vineyards and golf courses, you can see the amazing selection of outdoor recreational activities that Penticton has to offer. Penticton is a warm and friendly community under 50 000 people.

This regional centre's amenities:

South Okanagan Events Centre
Four ice arenas
Indoor pool and recreation centre (expansion in planning stage)
Curling rink
Tennis courts
Volley ball courts
6 screen movie theatre planned for 2011

Environment Canada has indicated that Penticton has one of the most attractive climates in Canada. With over 2100 hours of sunshine, annual rainfall of 45 cm and approximately 8 weeks with sub freezing temperatures, there is no place like it!

To learn more see About Penticton BC.

View Larger Map

The best mortgage rate is only part of what makes a good mortgage.

Finding the type of mortgage that suits your needs along with the great service from your mortgage broker and lender it what sets it apart from the ordinary.

Richard Batke - Mortgage Broker

2004 Main St.
Penticton, BC
V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.thehomefinancecentre.com
map: 2004 Main St., Penticton, BC

Richard Batke
Mortgage Broker

* Purchase * Refinance * Renew * Debt Consolidation *
* Business Equipment Leasing *

Serving the South Okanagan, including:

Half Duplex for sale in Penticton BC

Invis - Richard Batke, Residential Mortgage Broker — Sat, 30 Jan 2010 06:37:00 -0500

Half Duplex for Sale in Penticton BC with mortgage helper suite.

Contact Richard Batke for more information at 250-809-0285 or visit www.thehomefinancecentre.com for pre-approval.

As a mortgage Broker, I have a number of clients whom I have pre-approved for mortgages and are currently shopping for homes.

I also have past clients who have properties to sell. Some try selling privately before listing their property with a licensed

Realtor. Whenever I have a pre-approved client looking for a property that a past client has to sell, I introduce them to each other.

In an effort to better serve my past and future clients, I am now providing an avenue where I can help connect sellers with prospective buyers beyond the range of my personal contacts.

Note: All information is provided by seller, and
must be verified by the purchaser.

Current Private Sale for $339 000

Newly renovated half duplex for sale with a rental suite near Columbia School on Beatty St.

Thoroughly renovated in 2009, this half duplex for sale features a professionally landscaped fenced yard - great for the kids - and its proximity to Columbia School makes it great for a family who wants to enjoy the benefits of the mortgage helper suite.

Investors - take notice of this half duplex for sale! Rent out both floors of this high demand area!

Basement suite is currently rented for $900/mo to great tenants!

See below for financing options!

Each 1000 sqft floor includes the following:

2 bedrooms
1 bath
Laundry
Kitchen

Renovations Include:

Windows
Roof
Furnace
Hot Water Tank
Faucets
Light fixtures
Kitchen counter top

Private Sale, please contact seller ASAP to get this great half duplex for sale while it is still available privately!

For an appointment and more information contact Richard:

Phone: 250-809-0285

Note: All information is provided by the seller and needs to be verified by the purchaser. I am not responsible for any errors or misrepresentations of this data. OAC, E&OE

View Larger Map

Financing Options

Mortgage Payments:

5% Down $1435/mo*
10% Down $1360/mo*

Subtract Rental Income: $900/mo

Net Mortgage Payments:

5% Down $535/mo*
10% Down $460/mo*

* Rate Specials may be available. Based on 3.99% with a 5 year term, amortized over 35 years. Incl. Default Insurance fee. Rates subject to change without notice. OAC E&OE

For more financing options that may be suited to your specific situation,
please contact Richard Batke.

Richard Batke - Mortgage Broker

2004 Main St.
Penticton, BC
V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.thehomefinancecentre.com
map: 2004 Main St., Penticton, BC

Richard Batke
Mortgage Broker

* Purchase * Refinance * Renew * Debt Consolidation *
* Business Equipment Leasing *

Serving the South Okanagan, including:

Condos For Sale in Penticton BC

Invis - Richard Batke, Residential Mortgage Broker — Thu, 21 Jan 2010 17:02:17 -0500

Condos for Sale in Penticton BC

Here is a comprenensive listing of available condos for sale in Penticton BC that are listed by Realtor on the MLS website.

This information is provided by Richard Batke, mortgage broker with Invis - Wilkins & Associates Mortgage Brokers, 2004 Main St. Penticton BC.

Please allow me to serve you in financing your condominium in Penticton!

Quick MLS searches by Price Range:

Condos in Penticton: Under $175 000
Condos in Penticton: $175 000 - $250 000
Condos in Penticton: $250 001 - $350 000
Condos in Penticton: $350 000 & higher

Penticton has an exceptionally wide variety of condominiums for sale.

With over 130 condominiums for sale in Penticton, you are sure to find the Condominium that suits you best. Priced from $86 000 to $1.7 million, the condo market in Penticton is very diversified.

Single bedroom condo units for sale in Penticton:

Starting Price: $86 000
Mortgage Payment: $370/month*

* with 5% down, 5 year term @ 3.99%, 35 year amortization, including CMHC fee OAC E&OE

Two bedroom condo units for sale in Penticton:

Starting Price: $150 000
Mortgage Payment: $650/month*

* with 5% down, 5 year term @ 3.99%, 35 year amortization, including CMHC fee OAC E&OE

There are currently 22 Luxury condo listings in Penticton, priced from $500 000 to $1,699,999.

Stunning lake views, lakeside living and finishing that will please the most discerning tastes characterize these pristine luxury condos.

Contact Richard Batke, for mortgage options on these great condominium opprotunities!

About Penticton BC

Nestled between two freshwater lakes in a mountain valley, you can imagine the endless outdoor recreational activities that Penticton has to offer. Penticton is a small and friendly community of less than 50 000 with great public transportation and services.

View Larger Map

Penticton's amenities include four ice arenas, an indoor pool (soon to be upgraded), curling rink, tennis courts, volley ball courts, and ohter recreational facilities. The most recent addition is the South Okanagan Events Centre, a state of the art regional events facility.

According to Environment Canada, Penticton has one of the most attractive climates in Canada. Penticton receives over 2100 hours of sunshine with an annual rainfall of 15 inches. There are usually about 8 weeks with temperatures below freezing.

Penticton also has a 129 bed acute care regional hospital, other medical services and a full spectrum of retail services, including another shopping centre with a 6 screen state of the art movie theatre planned for the near future.

For more information about Penticton, see About Penticton BC.

The lowest mortgage rate is only part of what makes a profitable mortgage.

Getting the mortgage product that is right for you with the highest level of service from your mortgage broker is what makes a mortgage a truly great mortgage!

You do not have to fit your mortgage,
it can be made to fit you.

For more information or a free mortgage review, please contact me. I would love to serve you in any way I can.

Richard Batke - Mortgage Broker

Invis - Wilkins & Associates Mortgage Brokers
2004 Main St.
Penticton, BC
V2A 5H4

Direct: 250-809-0285
email: richardbatke@invis.ca
web: www.thehomefinancecentre.com
map: 2004 Main St., Penticton, BC

* Purchase * Refinance * Renew * Debt Consolidation *
* Business Equipment Leasing *

Serving the South Okanagan, including: