When you decide on a mortgage rate, try not to over think the rate and always aware of the bigger picture. Try looking at it this way, for example, you want to purchase an investment stock. This stock is over all good value and has a lot of potential for even further growth. It is currently trading at $10.00.  Potentially, it could go as high as $18.00 over the next 12 months. If you planned on purchasing this stock, you would first do your due diligence on the company you are investing in. This would entail looking at the company financial statements, looking at dividends if there are any, the management, and overall potential growth. Once you were ready, you would purchase the stock even at $10.50 or $11.50 because based on your research, you know this particular stock has potential. At the end of the day you are still obtaining a profit.

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A Home Equity Line of Credit or HELOC, is a secured loan against your home. This is just like a mortgage but with the features of a line of credit.  It is completely open(paid down at any time without penalty) and is also revolving (can be paid down and then used again). The loan is always available until closed out.  A Secured Line of Credit can be added alongside a mortgage as s separate product.  For example, if a client has equity in their home a lender will allow the client to borrow up to 80% of that equity when adding on a secured line of Credit. This can be applied on the purchase or refinance of a home.
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What is Private Mortgage Financing?

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10 Reasons why you should use a Mortgage Broker

• Access to over 50 different lenders, banks, trust companies, investors and financial institutions.
• Fast credit and loan pre-approvals with no cost or obligation.
• Up-to-date on all the mortgage rates, terms and re-payment options available on the market.
• They only specialize in mortgages and are knowledgeable on current trends.
• They are experts at matching you with the best-suited mortgage.
• Get mortgage rates at wholesale, guaranteed up to 120 days.
• They work for YOU, not the lender.
• They increase competition in the market place, thus keeping rates low.
• They save you time and money!
• Brokers have vested interest in satisfying your needs since they rely on your referrals and repeat business.

There are two different types of mortgages for self-employed borrowers.  One is based on qualifier income (proof of income on paper) and the other is non-qualifier income (no proof of income on paper).  There are big differences in lender policy based on each type of borrowers.

Borrowers who qualify based on provable income: 

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Reports are increasingly showing that parents are helping their children purchase their first home in the GTA. This phenomenon of parents helping their children purchase their first home is not a new trend by any means, but the numbers they are willing to fork out are. This is becoming a common trend due to the increase of the cost of living (rent), debt amount (student loans), and saving money in general becomes harder and harder.
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This mortgage product allows the purchaser of a primary or investment property to add immediate renovation costs onto the new mortgage.  The renovations must improve the value of the property such as new flooring, roof, windows, kitchen or bathrooms.
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If you asked your bank representatives how are fixed and variable mortgage rates calculated and did not know how to answer your question, what would you think?  If you asked your bank representative how they calculate their fixed rate mortgage penalties and they did not know, would you still want to work with them? Majority of people still do. Click on the link to find out more.
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Now that the weather is getting noticeably colder everyday, we have come to the realization that we have officially entered the fall climate. Here are some fun tips to change up the look of your space to make it seasonal or if you are in the market to sell your home and want some small tweakings.

1. Try painting one wall; Giving your space an accent wall can create drama and focus in a room. It can also change the feel of the room, depending on the colour chosen.

2. Adding framing to your walls; This can completely change the feel and look of the designated space in a room. Just be sure to keep it symmetrical if you are doing more than one and dont forget that level!
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Good Afternoon Everybody!

Hope you are all enjoying the lovely fall weather.

Current mortgage rates are still at an all time low with 5 year fixed averaging 3.59% and variable at 2.60%.
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