Tips To A Stress-free Mortgage Renewal Process Is it almost time to renew your mortgage? As a borrower, you have the option of looking for alternatives that better suit your financial situation or obtaining a cheaper mortgage rate each time your loan comes up for renewal. When it comes to renewing, going with your present lender may not necessarily be the best option and you can consider switching your existing lender with a new one, if the new one is offering better rates. The common misconception about mortgage renewals is that the process of switching lenders can turn out to be both time-consuming and complex. For more insighs visit: https://satbirbhullar.ca/blog/4-tips-to-a-stress-free-mortgage-renewal-process/

Satbir Bhullar Mortgages - When Can You Refinance A Mortgage? Your financial state and the purpose of your refinancing mortgage in Surrey will determine the ideal time to do so. Every year, some borrowers take a brief look at their mortgage to see if they would benefit from a refinance. Some examine when interest rates decrease. When thinking about refinancing a residential mortgage, it’s a good idea to figure out how much your payment will alter and when you’ll break even. The time it will take for the money you save with lower payments to balance the cost of refinancing is known as the break-even point. It makes no sense to refinance if you want to sell your house before you reach break-even. Visit for more: https://satbirbhullar.ca/blog/when-can-you-refinance-a-mortgage/

Bank of Canada (BOC) Interest Rate Drops By 25 Basis Points To 4.75% The much-awaited news for mortgage borrowers is here. The Bank of Canada lowered interest rates by 25 basis points to 4.75%. The Bank of Canada’s policy rate, also known as a benchmark rate or overnight rate influences a bank’s prime rate, which impacts interest rates paid on mortgage products. The rate drop is good news for buyers and sellers, but it isn’t a game changer. The cut will bring in more reductions in 2024 and 2025. The lower borrowing rate is good news for Canadian homeowners and prospective buyers. Whether you’re seeking to buy your first home, plan to renew this year, or have a variable rate mortgage, the current interest rate situation is important. Visit for more: https://satbirbhullar.ca/blog/bank-of-canada-boc-interest-rate-drops-by-25-basis-points-to-4-75/

How Much Of Deposit Is Required For A Commercial Mortgage? In Canada, down payments for commercial mortgages typically range from 0% to 50% for owner-occupied properties. There is a clear correlation between the percentage of down payment required for a non-owner occupied property and the potential rental income it can bring in. Based on your debt service coverage ratio, this directly affects the amount of credit a bank will grant. Enrolling in CMHC insurance is one option to lower your deposit requirements. Canada Mortgage and Housing Corporation (CMHC) is the country’s mortgage loan insurance provider for the development, acquisition, and refinancing of multi-unit commercial real estate properties. Visit for more: https://satbirbhullar.ca/blog/how-much-of-deposit-is-required-for-a-commercial-mortgage/

Commercial Mortgage - Steps Involved in a Commercial Loan Application Process Want to apply a commercial mortgage application? Wondering how the commercial loan application process works? Knowing or understanding every stage of the mortgage process can be difficult and frustrating, especially if you are a first-time borrower. Every mortgage application is different and requires individual planning and comprehension. In this blog, we provide guidance on how to navigate the several phases of a private mortgage application, right from the planning to approval. By being familiar with these procedures, you’ll be more equipped to handle this significant financial choice and make the right loan decision. Visit for more: https://satbirbhullar.ca/blog/5-steps-involved-in-a-commercial-loan-application-process/

How to Find a Mortgage Broker in Abbotsford - Satbir Bhullar Mortgages Looking for the best mortgage broker in Abbotsford? Need to hire the services of a mortgage broker? The right broker can help you get through the mortgage process faster and with fewer difficulties. When looking for a mortgage, you have the option of working directly with a lender or through a mortgage broker. A broker can assist you in comparing home loans from several lenders and selecting the best option for you, along with walking you through the entire mortgage process. Right from the application to closing, assisting with paperwork and possibly speeding it up, a broker will stand by your side every step of the way. Visit for more: https://satbirbhullar.blogspot.com/2024/06/how-to-find-mortgage-broker-in.html

Satbir Bhullar Mortgages - All About Commercial Mortgages in Abbotsford Are you looking for a commercial mortgage? A commercial mortgage is a loan secured for a property that is not currently held by you. There are no predetermined rates for these mortgages, which mean that each application presented to a borrower is extensively searched and shortlisted by a commercial mortgage broker in Abbotsford as they assess the risk levels. A commercial mortgage is a long-term loan that typically runs for three and twenty-five years; if you are looking for a shorter-term credit, you may want to consider a bridging or development loan. Visit for more: https://satbirbhullar.ca/blog/all-about-commercial-mortgages-in-abbotsford/

Alternatives To Commercial Real Estate Loans - Satbir Bhullar Mortgages A commercial loan is the most popular form of funding for commercial real estate purchases and its success depends on many factors in addition to the interest rate. One of the most important aspects is loan-to-value ratio, which indicates the portion of the property’s value that the bank will finance. Banks usually offer to finance up to 75–80% of the value of commercial real estate, depending on the building’s condition, resale ability, and other factors. If you are planning to apply commercial loans in Abbotsford, rely on none other than Satbir Bhullar. Visit for more: https://satbirbhullar.ca/blog/best-alternatives-to-commercial-real-estate-loans/