Keeping it Real
Meet Jacquie McCarnan your host for Keeping it Real, the Vancouver and area residential real estate podcast that aims to demystify all things real estate in our crazy market.
Jacquie has been a licensed Realtor since 2016 and, in that time, has come across just about every scenario you can think of in our residential market. From hoarder homes to those for sale by owners to crazy strata situations and more, Jacquie provides real stories to help you navigate real estate in Vancouver and surrounding areas.
Each episode of Keeping it Real is short and to the point and provides you with great information about the topic discussed. Jacquie is always available to answer more in-depth questions and is happy to feature your own experience in future episodes.
Episodes also contain additional, non-real estate info about local businesses, experiences, and hidden gems around town that will make you sound like a local expert!
If you live in Vancouver or surrounding areas you know that the #1 thing people talk about is real estate (then the weather) if you want to sound knowledgeable and up to date on the real estate part listen weekly to hear topical issues that affect our market. We try to pick the most interesting and current issues to demystify each week and eagerly anticipate your input.
Join us every week for the very newest info on residential real estate in Vancouver and area.
Keeping it Real
9. ASK MARCI! So Much Mortgage Knowledge Here!
Like the show? Send me a text (if you don't like it, shhh ;)
In this episode of the 'Keeping it Real' podcast, Jacquie McCarnan is joined by Marcy Deane, a North Vancouver-based mortgage broker. Together, they delve into the intricate world of mortgages, covering essential topics like interest rates, qualifying criteria, and invaluable advice tailored for first-time homebuyers.
Marcy emphasizes the pivotal role of a stable income and advocates for the involvement of a financial planner when navigating decisions about down payments and investments. They also explore the landscape of alternative lenders and offer a glimpse into the future trends shaping the housing market.
This episode doesn't just stop at mortgages; it concludes with thoughtful recommendations for local businesses, including a shoutout to City Junk and a must-read book titled "Stress Wisely," offering effective stress management strategies.
Don’t miss this wealth of knowledge on mortgages and housing trends - Tune in now!
Marci Deane, Ask Marci - https://www.askmarci.ca/
City Junk Services - Mathew Bartlett - https://cityjunk.ca/
Stress Wisely: https://www.amazon.ca/Stress-Wisely-Well-Unwell-World/dp/1774582627
What was covered:
(02:30) The upcoming Bank of Canada announcement on March 6th.
(03:22) Overview of the current real estate market and the impact of interest rates.
(06:01) Encouraging the idea of getting into the market, even if it's with a smaller property.
(08:08) Marci's insights on mortgage qualification, income stability, and down payment considerations.
(09:18) Emphasis on educating first-time homebuyers on mortgage math and setting realistic expectations.
(11:35) Clarification on the misconception of needing only 5% down and the importance of debt servicing.
(13:44) Exploration of scenarios where family assistance or inheritance plays a significant role in the down payment.
(15:33) Criteria for stable income, including the preference for salaried positions and the importance of a two-year average for variable incomes.
(17:23) Mention of alternative lenders for unique financial situations but emphasizing the need for a larger down payment.
(18:41) Discussion about whether to use a substantial inheritance for a down payment or invest part of it involving a financial planner.
(20:43) Anticipation of increased activity in the real estate market when the Bank of Canada starts cutting rates.
