We need to look at various components to your mortgage commitment. Though the rate is important, there are other aspects that we need to consider. Some of these include:
Within the last few years, SW Ontario’s home values have been appreciating at record rates. Many homeowners are not aware of the built up equity that they have in their home. These can be used to help with things like:
If your mortgage is coming up for renewal, it never hurts to see what other options are out there. My services are at no cost to you!
Plus, some lenders even offer to reimburse their clients for expenses incurred for doing the switch! It may take some legwork to get re-qualified, compared to just signing with your current lender’s renewal offer, but it’ll be worth the savings!
Housing affordability has been a big-ticket issue with lawmakers for a few years now. Lawmakers have now introduced incentives for folks to reach their homeownership goals. Those who qualify can now receive a shared-equity loan of up to 10% of the purchase price from CMHC. Here’s a brief rundown of the qualifications:
Investing in an additional piece of real estate is a way to ensure your money is secure but also working for you. When faced with the decision to acquire a new property or not, it’s up to your discretion whether you’d like to use it as an income-generating property (rent it out) or keep it as a second home for you and your family to enjoy.
We’ll work with lenders who have tailor made mortgage products depending on what your ultimate goals are.
Being self-employed comes with many benefits. Such as the freedom to schedule your own time, getting tax write-offs, and many more. However, some hardships come with it as well. Some of these hardships become more prevalent once you apply for credit.
Self-employed entrepreneurs, who write off expenses, end up claiming a lower net income (one of the main pillars of your eligibility)! Lenders don’t want to lose out on business coming from entrepreneurs. So guidelines have been set in place to assist in receiving some of those write-offs. An alternative of a certain percentage of your income is also an option!
First off, welcome! More and more lenders & their insurers are introducing their own New to Canada mortgage programs to get in on this increasing market as well! Some general requirements in addition to income include:
Life happens and when it does, finances are first to take the hit in most cases. It has a ripple effect that then leads to your credit rating. Easily qualifying for high credit limits isn’t always a blessing. It’s getting more and more common for individuals and families to take on more than they can handle.
Your credit rating is generated from:
If you’re already a homeowner, let’s get you back on track and take care of the debts that are weighing down on your rating.
Do you have some savings but are still on your way to credit recovery and think you’re ready for home ownership? You’re worth more than just a credit rating, and we’ll have access to those lenders that recognize this. We can work with lenders that will focus on your complete situation and not just your rating.
We’re almost there! Whether you’re purchasing a property or refinancing a current one. I’m excited to provide the option you need to remain stress-free. It all begins with a few simple questions.
For more details
Upfront answers to specific mortgage inquiries are not easy. Everyone’s scenario is different, and with that, his or her qualifications differ. Let’s start working towards those answers today.
Marcela Marsy
