with access to 600 different programs, I have a mortgage solution for you.
first / second home
Your first time acquiring a property / A secondary residence for your family to use for pleasure or for work. Take advantage of purchasing a second home with as little as 10% down (compared to 20% for any other secondary property)
A cottage is a type of recreational home that could be owned in the same or different province from your current residence. I have access to lenders all over Canada, so no need to only shop in Ontario for this get-away home.
A duplex, triplex, or apartment complex. These are all investment properties. If you know you want to own several rental properties as an investment, you need a broker that can properly map out how to get you from where you are to where you want to be. A savvy investor needs a savvy mortgage broker.
When your mortgage is up for renewal, you become a free agent. At this time, nothing is tying you to your current lender. This is the time to call your broker to see if they can get you a better mortgage. If you'd like to refinance, now is the time to do it penalty-free!
Build your wealth through refinancing. It's often through refinancing that homeowners are given the opportunity to make their dream projects a reality. It can also be a way to save you money.
Custom designs and upgrades are a type of refinancing that can increase your home's value, living space, and overall quality of life.
Debt consolidation is a way to alleviate some tension on your monthly cash flow. If you have multiple debts, consolidating them into one monthly mortgage payment could save you thousands of dollars over the year
Taking a second mortgage on your house can help you temporarily access a large sum of money without breaking your first mortgage contract and incurring the penalty. When you're up for renewal, I'll help you consolidate both mortgages into one.
Statistically, it's between 33-36 months that a homeowner chooses to break their contract.
This tells me that around the 3-year mark big life decisions often happen. So, if you're a first-time homebuyer, I would likely suggest to you that you choose a 3-year contract, because it's only at this time that you can walk away from your contract without paying a penalty.
FREQUENTLY ASKED QUESTIONS
How long does it take to get pre-approved?
You can get pre-approved in less than 6 hours once you've supplied me with all the required information necessary to properly fill out the application.
Can you give me a better rate than my bank?
Almost always my answer is, "Absolutely!" And this is because I have access to so much more than what any one bank provides. With a broker, you can take advantage of the promotions that I get access to that the bank will never offer you. And when you think about it, your bank never actually earns your business. A broker is constantly looking to earn your business.
Can you guarantee approval?
If you have the appropriate down payment, you will 100% get approved. But you do need a down payment. Every lender wants to make sure you too have skin in the game.
Fixed vs. Variable?
VARIABLE. Even though variable can seem scary, it's not. With a variable rate, you beat the market. To help my clients understand what I mean, I like to do the math and show you exactly how much you'd be saving by choosing a variable rate.
The best part about a variable rate is its flexibility. If, at any given time, you decide you'd prefer a fixed rate, you can just switch at no cost to you. Just call up your broker and they'll make it happen.
And, if you need to break your contract, you'll always pay a lesser penalty fee with a variable rate than a fixed rate.
For an exit strategy, the variable is the best way to get out of a contract. With a fixed rate, you're tied to the amount of interest you had agreed to pay, which is usually much higher than the variable rate.
Is it always best to go with the lowest rate?
NO. Most mortgage shoppers are taught to only focus on getting the "best rate". But guess what??
It's not just about the rate. There are all sorts of other important considerations that a mortgage broker will bring to your attention.
For example, some lenders will offer the lowest rate, but will have other clauses that could cost you thousands of dollars if you're not careful. It's your mortgage broker's job to expose all the good & bad aspects of every mortgage solution they suggest.
This transparency is important so that you can consider all the repercussions of choosing a particular mortgage.
SCHEDULE A 15-MIN CONSULTATION CALL TO SEE WHAT'S THE RIGHT MORTGAGE SOLUTION FOR YOU
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