Tired of passing your hard earned rent over to your landlord? Maybe you've built up some savings and have a downpayment for your own property. No matter what your situation is, I help simplify the buying process and worry about all the financing details so you can get down to finding just the right property as fast as possible. We're here to help you beat the banks ... give us a call today.
Each mortgage application is different and I will help you figure out the numbers so you can stay focused on shopping for properties within your approved price range. You and your real estate agent will know exactly how much you can comfortably afford along with the assurance of a locked in rate - all at no cost to you! Call or email today for the best rates, mortgage advice and a FAST mortgage pre-approval!
If your mortgage renewal is fast approaching, then now is a great time to look at the many excellent options and competitive rates available. Lenders send out renewal forms just prior to renewal dates to those with good payment histories, with about 70% of homeowners sending it back without asking any questions! In today’s hectic world, that can be the easiest and best route, but you should ask yourself some questions before you sign on the dotted line. This is an important moment of opportunity.
This is where an independent mortgage professional like myself can help offer advice and options to help you get ahead! Maybe your mortgage needs have changed. This is the time to decide. For example, you may want to consolidate high interest debt in with your mortgage or you may want to tap some of your home equity for a renovation project? Or maybe you reconsidering a cottage or vacation property. Are you confident you will get the best rate at renewal? Having multiple lenders compete for your business is a great way to ensure you get the best rate for your situation. I deal with multiple lending institutions, including major banks, credit unions, trusts and other national and regional lenders, which means significant negotiating power behind finding the best mortgage to fit your specific situation.Call or email today for full details and a FAST mortgage pre-approval!
There are many reasons why you might want to review refinance options; to increase your existing mortgage for investment purposes, consolidation of non-mortgage debt, to finance improvements to your home, etc.Let us help you negotiate with your existing lender or switch to a new lender who will give you a more favourable rate. There are many factors to consider when refinancing your mortgage.Here’s a bit of what you need to know:Access Equity for investment If you are contemplating investing in Real Estate and want to use equity that you have created in your residence as down payment monies it is vital that you begin the process in advance of making an formal offers on additional properties. The limitations with some lenders that multiple properties entail can create a very stressful situation if you are trying to complete multiple transactions at once. i.e. a refinance of your home and a finance on a new property.It is all about taking the right steps at the right time and creating access to said equity in advance, well in advance, of requiring it.If you plan is to potentially move from your residence and rent it out, then once again creating the proper mortgage structure in advance is vital and can save you thousands, tens of thousands of dollars. Consolidate other debt Most unsecured debt is priced by your bank at a higher rate than your mortgage in order to compensate them for the higher risk of loss if you default. For many people it only makes sense to use available home equity to pay out this debt, as it typically reduces interest costs significantly. If the total of the existing mortgage and the debt to be refinanced is less than 80% of the value of your home, and you qualify in terms of income and credit standing, refinancing your first mortgage should be a breeze.Renovations & home improvements If you want to spend a significant amount of money on improving your home, you may be able to take out a lot more equity than you realized! We can advise you through this process. All three insurers — AIG, Genworth and CMHC, will insure new mortgages which are “topped up” for this purpose, and the total of your current mortgage and the new funds exceeds 80% of the current home value. Not all improvements are eligible, however. Pools and spas are typical “over-improvements” which may not qualify for a high-ratio equity take-out. Of course, if the total requirement is less than 80% of your home’s current value, you should have little trouble getting the “top up” you need — regardless of the degree of luxury you plan to add. Breaking a closed mortgage to transfer to a new lender Many closed mortgages have the feature that allows the balance to be paid out with a penalty after a certain time has elapsed on the mortgage. Check the “prepayment” clause in your mortgage to determine your own situation, or better still, call your institution and ask them the cost of paying out in full.
Copyright © 2017 Mortgages By Matthew - All Rights Reserved.
mortgages@matthewknysh.com (587) 990-7221