March 16 - 31 , 2018 PHILIPPINE ASIAN NEWS TODAY IMMIGRATION 11
Isang bagong Programa ang nakatakdang ilunsad ng One Filipino Cooperative of BC ( FilCo-op ) matapos itong apruban ng Board of Directors sa Meeting noong March24 , 2018 . Ito ay ang Co-op Telecom Program na ekslusibong serbisyo para sa mga members ng Cooperative Housing Federation of BC ( CHF _ BC ). Ang FilCo-op ay naging member ng CHF _ BC taong 2016 . Kamakailan ay nagbigay ng orientation si G . Arnold Sang , Director ng CHF _ BC Telecom Program sa mga officers ng FilCo-op sa tulong ng Telus representative na si Michelle Mydske kung paano ang programa pinapatupad .
Ang paglulunsad ng FilCo-op Telecom Program ay nakatakda sa ika-5 ng Mayo , 2018 na itataon sa Ika-Siyam na Taunang Pagpupulong ( Annual General Meeting ) ng mga kasapi . Ito ay gaganapin
MYLENE LIM Licensed Mortgage Specialist
B u y i n g a house may seem daunting with so many factors to be c o n s i d e r e d such as affordability , location , size and condition of the property . And of course , on top of the list to consider is getting a mortgage for the purchase . But did you know that you would also need to consider with which lender you would be getting your mortgage from ? Here are some types of the mainstream lenders that you may be able to borrow from . BIG BANKS Going to one of the federally regulated big banks may be more tempting especially to first-time homebuyers because it gives a sense of security knowing that your mortgage is with a lending institution with branches all over Canada . Or it could also be that borrowers may not know there are other mortgage lenders available to them . Licensed mortgage brokers have access to Scotiabank and TD Canada Trust and these lenders are very well versed with the mortgage products offered by these chartered banks . Aside from mortgages , these banks also carry other products and services such as day-to-day banking , line of credit , credit cards , plus there is convenience of having branches everywhere . TD generally registers the
TELECOM PROGRAM ILULUNSAD NG FILCO-OP
sa Killarney Community Center .
Ang CHF _ BC at TELUS ay nagkaroon ng partnership para mag provide ng HDTV programs , high-speed internet at home phone through TELUS Home Services para sa members ng CHF _ BC . Ang Co-op Telecom Program ay magbibigay ng malaking katipiran ng mahigit kalahati sa kasalukuyang binabayad sa mga individual or bundled services ( high speed internet , tv and home phone ) para sa mga members CHF _ BCaffiliated co-operatives .
Excited ang mga kasapi ng FilCoop sa bagong programang ito dahil sa laki ng kanilang pakinabang at matitipid na maaari pa nilang gamitin sa iba pang mahahalagang bagay . Ang tagapamahala ay umaasa na karamihan sa members ng FilCo-op ang mag-avail ng programa dahil
mortgage as a collateral charge . What this means is that aside from your mortgage , the lender may allow you to have other loans secured by your property . TD will register the charge on your property at an amount higher than your mortgage so you can have access to this additional amount in the future without having to register a new charge . Scotiabank has their Scotia-Step program , which is a comprehensive home equity line of credit ( HELOC ) combining your mortgage with other loans such as line of credit and credit cards . One of the disadvantages of these chartered banks is the big penalty that the borrower may incur should they decide to break the contract on a fixed term mortgage . CREDIT UNIONS Credit unions such as Blue Shore Financial , Coast Capital , and Westminster Savings are provincially regulated lenders . They do not have to conform to federally regulated mortgage regulations such as the recently implemented “ B-20 stress test ” for conventional mortgages . Credit Unions are also more advantageous for rental properties , for borrowers with income that are not the usual standardized fixed monthly pay , or those with other sources of income . The disadvantage to the credit unions is they may take longer in reviewing mortgage applications as well as the portability of your mortgage should you decide to sell and buy another sa laki ng benepisyong matatanggap .
Maliban sa bagong Telecom Program ay may iba pang programa at serbisyo ang FilCo-op tulad ng Pahiraman ng Bayan Microlending Program , Save Now Fly Later / Fly Now Pay Later , Padalahan ng Bayan , Damayang Pinoy , Networking and Referral Services and Social Development Program . Working in progress ang Affordable Housing Initiatives ng Fil Cooperative One Housing Society para sa pangarap na Coop Housing para sa mga Pinoy .
Sa mga nais maging bahagi at maging member ng kauna-unahang Kooperatibang Pinoy sa BC , mayroon pong monthly Pre-Membership Education Seminar . Makipag-ugnayan lang po sa Tel . 604-780-2061 , email : filcoopbc @ yahoo . ca , facebook : Filipino Cooperative or bisitahin ang website : www . filcoopbc .
property . MONOLINE LENDERS Unlike chartered banks and credit unions that offer an array of other products as well as mortgages , Monoline Lenders provide only one product – mortgages . Monolines are very reputable and have been operating in Canada for decades . Most of them source their funds from the big banks , which are looking to diversify their portfolios through other channels . All monolines secure their mortgages through back-end mortgage insurance with any of the three Canadian insurers CMHC , GenWorth and Canada Guarantee .
The biggest advantages of Monoline lenders are their lower interest rates and lower penalties should borrowers break their mortgage contract . They also do not cross-sell the borrowers with checquing / savings accounts , RESPs , GICs or RRSPs . Monolines can only be accessed by borrowers through licensed mortgage brokers at the time the mortgage is set up . But once the mortgage has been set up , you can transact business with them through calls or emails . Because they do not have physical offices for borrowers to walk in to , minimal marketing cost , lesser employees and etc ., this lowers their overhead cost and ultimately lowers the borrower ’ s interest rate . ALTERNATIVE LENDERS When borrowers do not qualify through chartered banks , credit unions and monoline lenders - often referred to
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“ One Filipino Co-operative of BC ( FilCo-op ), the first-ever Filipino co-operative organization in BC was launched on October 31 , 2009 . FilCoop ’ s objective is to enhance the lives of the members , our kababayans , and support one another through cooperative effort or bayanihan . It is founded on the principles of self-help , responsibility , equality , democratic governance , focus on services to members , equitable distribution of benefits and earnings , and commitment for community growth and development .
MATUTULUNGAN KA NA , MAKAKATULONG KA PA
KAYANG-KAYA KUNG SAMA- SAMA !
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How to Choose The Right Mortgage Lender For You
as “ A Lenders ”, they may still be able to get a mortgage through alternative lenders or “ B Lenders ”. The qualifying guidelines with B lenders are not as stringent and they will entertain applications that would otherwise get automatically declined by the A lenders . These alternative lenders may consider borrowers who have undergone bankruptcy or consumer proposal , credit-challenged , or whose source of income may be non-traditional . The downside to alternative lenders is their higher interest rates and oftentimes , they charge a lender ’ s fee to facilitate the mortgage . PRIVATE LENDERS Private lenders come into play when a borrower ’ s profile does not fit in all other lending institutions guidelines . They are easier to access but borrowing though a private lender comes with a hefty price – both in interest rate and lender ’ s fee . Private lenders are a short-term fix for a financial situation as their usual term is one year on an interest only payment scheme . Borrowers have to make sure they have a viable exit program within a year ’ s time to avoid further indebtedness .
Borrowers should discuss with a licensed mortgage broker the different options available for their particular situation so they could enjoy a mortgage product best suited for their particular needs . In most cases , it doesn ’ t cost borrowers anything to discuss , review and arrange their mortgage with a licensed mortgage broker .