The Drive Mortgage Store 
a place where you can meet with a mortgage broker in person, have a coffee, ask questions, get the answers you need and sign your papers!
Complimentary Info Sessions
Find out about the ins and outs of mortgage life insurance 
October 21, 2014
Home Owning - Self-Employed
Stay ahead of the curve and understand what the lenders are looking for.
November 20, 2014
Income Property
How do you create an income property? Where to buy, what to look for?
January 28, 2015
More upcoming Events!
 Click here for Events Calendar
Mortgage Rates
Effective Oct. 8, 2014
TERM
BEST RATE
1 Yr Closed*2.89%
2 Yr Closed*2.59%
3 Yr Closed*2.79%
4 Yr Closed*2.77%
5 Yr Closed*2.89%
7 Yr Closed*3.79%
10 Yr Closed*4.29%


Prime Rate: 3.00%
Variable @ Prime less 0.60%
HELOC - Prime plus .25%
Bench Mark Rate: 4.79%
*
indicates promotional/quick close rate
Bank of Canada
*Eight times a year, the Bank announces its decision on the setting of its key policy interest rate.
~2014~
October 22                   December 3

~2015~
January 21                   March 4
April 15                          May 27
July 15                           September 9
October 21                    December 2
Renewel Time?
Our beautiful, warm summer has lasted through into October and with cooler temperatures heading our way this long weekend, I would like to wish you a very safe, happy and wonderful Thanksgiving!

 

What happens when your term is up, when your rate term has expired?

 

At this time, a borrower effectively becomes a free agent and has the ability to move their mortgage. It is a great time to shop around for a better rate or product to match your needs. There should be no charge to leave the existing lender.

 

Call me so we can talk about your future,

Laura Stein
The Drive Mortgage Store
Dominion Lending Centres - Mortgage Negotiators
604-657-6535
Mortgage Tip of the Week

 

When you are up for renewal ask your self some questions. How long will I live in this property? Where will I go from here? What do I think interest rates are going to do?  

 

The answers to these will form your next mortgage strategy.

 
Looking for a Mortgage?
What happens when your term is up?

Lenders often offer better rates or incentives to attract new Clients than they typically offer to their existing customers. The trick is to find a lender who is currently aggressively seeking new business with solid offerings. The new lender will pick up the costs on the move so it should be free for you.

 

The amortization should stay the same as what is registered on your existing mortgage. So if you started with a 30 year amortization and 5 years have gone by, you will be transferring over a 25 year amortization. A new lender will...

  
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About our team
After 22 years as a mortgage broker Laura opened up The Drive Mortgage Store on the eclectic Commercial Drive in Vancouver, BC. Her mission was to allow her clients a chance to meet face to face and ask questions in a more intimate setting. She has since added a small, dedicated staff including a Real Estate Agent, other brokers and a social media & event coordinator. Our team is devoted to ensuring that your best interests are our top priority. We invite to come on in and see what's in store for your next mortgage.
 
 
What others have to say...
Dear Laura, it has been a week since I moved to our new home and I still cannot believe that this is true!

 

Back to few weeks ago when I had trouble with my mortgage just two days before the subject removal date, I could not have been luckier to find you to be my broker and to help me access the mortgage in the last minute!

 

You were unbelievably efficient and professional that you got everything done in only two days, moreover, the rate you offered is even lower than the major banks. Throughout the process, you always gave quick respond and smart advice. We wouldn't own this property without your effort.

 

Everything you did for me deserves high appreciation from my family. I would definitely recommend you to my friends and I wish you success always!

 

Thank you very much!

 

~Carol~ 

READ MORE 

 
The Drive Mortgage Store
604-258-8897
1250 Commercial Drive
Vancouver, BC

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