19 Apr

Mortgage Survival Guide – Abbotsford Mortgage


Posted by: Matt Robinson

Matt Robinson | Dominion Lending Centres




As a first time homebuyer, trying to figure out how to get a mortgage can be overwhelming. Matt Robinson, at Dominion Lending Centres, has created a mortgage survival guide to help you be more organised throughout the home loan process. Working with Matt Robinson to obtain your first Abbotsford mortgage can help you get the best options and rates on the market.


  1. Organisation:

Being organised with your finances can help prepare you for a mortgage. Before you start your home loan application, make sure you know your current credit score. Your income and credit score largely affected how much you are able to borrow. If you notice any faults on your record then you should fix these problems before your application is sent in.


  1. Pre-approval:

Contact your local Abbotsford mortgage lender to get pre-approved. This can be beneficial because it will let you know exactly how much you can borrow from the lender, and therefore, know exactly what price range to shop in. Knowing your affordability in advance can save you time by avoiding homes that are not in your budget.


  1. Income:

You are given more credibility depending on how long you have been working at your current job for. Lenders appreciate borrowers who have a steady income of at least two years with their current employer. If you constantly switch jobs, now might not be the best time to buy a home because lenders want to see that you are financially responsible.


  1. Savings:

Before you start your home loan application, make sure you have enough money in the bank to pay at least 5% of your home’s down payment. The more savings you have, the better your application will look. If you have a lot of debt and no savings, you will most likely be declined for a home loan. In addition, continue saving and avoid making other big purchases until after your loan has been approved. Taking on unnecessary debt can hurt your application.


Buying a home is most likely the biggest purchase you will ever make. Make this an exciting time instead of a stressful one. Following this mortgage survival guide will help prepare you for homeownership. If you have any questions or are wanting to get started on your application today, please contact your Abbotsford or Chilliwack mortgage lender at 604-852-703 or email info@matthewrobinson.ca.

13 Mar

The Difference Between Fixed and Variable Rate Mortgages


Posted by: Matt Robinson

Are you in the market for an Chilliwack mortgage, or are looking for an Abbotsford mortgage broker, well look no further because Matthew Robinson is here to help you!

When deciding which home loan is your best option, it is important you evaluate your finances. Be aware and honest about your income, the specific lifestyle you lead, and your personality. Some mortgage rates are riskier than others so it is important you recognise whether or not you can handle the inconsistency and potential risks that are associated with those loans.

So what loan is right for you? There are two main types of loans: fixed rate mortgages and variable rate mortgages.

Fixed Rate Mortgages

A fixed rate mortgage is a loan where the rates are consistent throughout the term of the loan. No risk is associated with this loan in terms of interest rates going up unexpectedly. Your monthly payments will not fluctuate, and instead stay consistent. This is a great option if you do not like to take risks. With this loan, you know exactly how long it will take you to pay off because the rate never changes. It allows you to accurately budget, however, higher interest rates are usually associated with fixed mortgages.

Variable Rate Mortgages

A variable rate mortgage is a loan where the interest rates are a lot lower than a fixed mortgage. This mortgage is associated with a lot more risk. Without a heads up, the interest rates could increase or decrease. This inconsistency can cause people a lot of stress, so it is important to understand if you can handle the risk or not. Assessing your financial situation and seeing if you can afford at least a 2% increase in your variable rate, is a good way to know if this option works for you.

Get Started Today!

Regardless of which loan you would like to go with, your local Abbotsford and Chilliwack mortgage broker can work with you and advise you on your best option. So don’t wait, contact Matt Robinson today at 604-852-1703 or info@matthewrobinson.ca.

11 Feb

Chilliwack Mortgage Lender – Market Update


Posted by: Matt Robinson

Like in many other Canadian cities, 2017 was a banner year for the Chilliwack real estate market.

According to the Chilliwack & District Real Estate Board, the volume of home sales last year was beat out by only one other year on record. The total number of home sales that were recorded at the end of last year through the MLS System by the CDREB was well over the number of sales recorded the at the same time the year before.

At the end of December 2017, there were a total of 204 recorded home sales. This figure is almost 24% higher than the total number of sales recorded in the same month of 2016. When the sales figures for the entire year are compared, 2017 saw a total of 3,983 sales which was actually 7.5% lower than the annual total for 2016.

This shows us that despite coming in slightly below the year before as a whole, last year ended much higher than expected and has set Chilliwack up for a fantastic market as we head into the New Year!

As there continues to be a pressing demand for homes in the area, new residential listings have almost doubled on a year over year basis. In December of 2017, 181 new residential properties were listed on the market, 36.1% more than in December of 2016.

Despite this increase in new listings at the end of the year, there were still less active listings at the end of December 2017 than there were at the end of December the year before. This tightening between the supply and the demand of homes in the local area has contributed to the continued increase in the sales price of homes.

In December of 2017, the average sales price of Chilliwack homes was recorded at $483,156. This price is up nearly 25% from December of 2016. On an annual basis, the average sales price of Chilliwack homes rose 16.8% to $464,897 in 2017. This increase does not come unexpectedly as the annual average price saw an increase of a larger 18.4% between 2015 and 2016.

If you are interested in purchasing a home in the local area, you will get the most out of your mortgage process by working with a reputable Chilliwack mortgage lender. Give me a call to find out more about your home financing options or to get started on your mortgage process today!

11 Jan

Abbotsford Refinance – Refinancing Your Mortgage


Posted by: Matt Robinson

Are you interested in lowering your monthly mortgage payments? Do you have unexpected medical bills you need to pay? Or perhaps there are some renovations you would like to do in your home?

If so, have you considered refinancing your existing mortgage to help you offset some of these additional expenses?

While a mortgage refinance is not something to jump into without all of the facts, there are many reasons for homeowners to consider refinancing their existing mortgage, including the ones mentioned above.

When you refinance your mortgage, you are basically replacing your current mortgage with a new one. This new mortgage will have either a different interest rate, term or loan amount – or possibly all three. If you want to lower your monthly mortgage payments, you may try refinancing to a lower interest rate or a longer term. Some homeowners manage to save up enough to pay off a portion of their loan, giving them the option of refinancing their mortgage and obtaining a new mortgage with a lower loan amount.  If you want to access some of the equity that you have built up in your home, you may try to refinance to a larger loan amount.

While taking advantage of lowered interest rates is the most common reason to refinance a mortgage, that is clearly not the only reason. In fact, there are some cases where you may be better off adjusting other aspects of your mortgage contract instead of negotiating for a lower interest rate.

Because you are essentially obtaining a new mortgage, the process of refinancing your mortgage is just as involved as it was with your original mortgage. You will still be required to fill out an application and your qualifications and eligibility will still be evaluated. There may also be additional closing costs associated with your refinance, similarly to when you closed on your original mortgage.

Refinancing your mortgage can be a complicated process, which is why it is so important to work with an experienced mortgage professional. As a trusted Abbotsford mortgage broker, I am here to make sure that refinancing your mortgage is indeed the best option for your situation and, if it is, to make sure you are getting the best financing possible!

If you are thinking about refinancing your mortgage, give me a call today!

13 Dec

Chilliwack Mortgage Broker – 4 Questions to Ask Your Mortgage Broker


Posted by: Matt Robinson

As a Chilliwack mortgage broker who has been working in Chilliwack, Abbotsford and the surrounding area for some time, I have helped numerous clients achieve their dreams of affordable home ownership. I do this by providing my clients with all the tools and resources they need to make confident decisions about their mortgage options.

As a professional in the industry, I believe that my job involves more than just getting mortgages for my clients. It involves educating them throughout the process and relieving the burden of stress that tends to come with the mortgage process.

I truly enjoy the relationships I have built with my clients over the years and I love being able to help them enrich their lives through the pride and joy that comes with the purchase of a new home.

I understand that each of my clients had a chose to make when it came to who they were going to work with for their mortgage, and I am honored to have been chosen by so many.

In an effort to make your decision easier, I decided to create this post with a list of questions that are important for borrowers to ask before they choose their mortgage broker. The answer you get when you ask these questions should help you narrow down your search and find the mortgage broker that is the best fit for your needs.


Question Number One – Do You Have References?

It is important to feel that you can trust the person you will be working with, especially when it comes to such a large financial transaction, like the purchase of a home. If you were not referred to the mortgage broker by someone you trust, make sure to find out what people have to say before making your final decision.


Question Number Two – How Long Have You Been in Business?

With this question, you don’t necessarily need to be looking for someone who has been in the business for 20-30 years. While that amount of experience is fantastic, someone who is relatively new to the industry (at least 5 years of experience) could still provide you with outstanding service and may be more up to date on the latest market news and trends.


Question Number Three – What Does the Application Process Look Like?

Regardless of who you decide to work with, you will want to know in advance what to expect from the application process, what paperwork or verification will be required, and how long you should expect the process to take.


Question Number Four – Do You Have Any Areas or Loans That You Specialize In?

Whether you have problems with your credit or you are self-employed, every situation is different. Each of these different situations requires a different level of service and, of course, different financing options.

Be sure to find out if the brokers you are considering have experience or the required qualifications to work with you on your particular situation.

Asking these four questions should help you get off to a great start when it comes to deciding on the right mortgage broker for you!