Second mortgage appraisal rebate

Purchase Assist program - First Swiss Mortgage

 

 

 

$400.00 Second mortgage appraisal rebate qualifying conditions

  • Appraisals are paid by borrowers.
  • Appraisals are directly ordered by the lender.
  • A refund of appraisal cost for the maximum of $400.00 is provided to the borrower upon closing only. (Only appraisals that were ordered by First Swiss Mortgage Corp qualify and only upon closing of the transaction with First Swiss Mortgage Corp if the value is confirmed);
  • To qualify for appraisal rebate file must be broker complete and be instructed between January 9th and February 28, 2017.

Simple and secure!. Complete the request form and you'll receive your unique secured personalized link to complete your application

Applicant information

This is a per secured personal application request

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Ontario Land Transfer Tax

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Ontario Land Transfer Tax

Ontario Land Transfer TaxOntario Land Transfer Tax is charged to the homebuyer and applies whenever a land or an interest in land in Ontario is purchased,

The applicant buyer pays the Ontario’s land transfer tax at the time of purchase, the term “land” includes any buildings, buildings to be constructed, and fixtures (such as light fixtures, built-in appliances, and cabinetry).

Land transfer tax is normally based on the amount paid for the land, in addition to the amount remaining on any mortgage or debt assumed as part of the arrangement to buy the land.

In some cases, land transfer tax is based on the fair market value of the land, for example, where:

  • The transfer of a lease with a remaining term that can exceed 50 years
  • The transfer of land is from a corporation to one of its shareholders, or
  • The transfer of land is to a corporation if shares of the corporation are issued.

Current Ontario Land Transfer Tax rates as of January 1, 2017

Current Ontario Land Transfertax RateFirst-time homebuyers rebate

Up to December 31, 2016, first-time homebuyers qualify for up to 2,000 land transfer tax rebate.

Ontario Land Transfer Tax rates as of January 1, 2017

Ontario Land Transfer Tax Rate

From January 1st, 2017 onwards, the new Ontario Land Transfer Tax for first-time home-buyers will be exempted on the first 368,000 of a land purchase price and first-time home-buyers will also be eligible for up to a 4,000 tax rebate on the non-exempted amount.

Also from January 1st, 2017 the new Ontario Land Transfer Tax rate increases on properties which purchase price exceeds 2 Million, the increase is to 2.5% from a 2%.

An appraisal of the properties before the purchase is most likely going to be ordered.

Your opinion is welcomed at the bottom of the page.

Contact me if you have a question or need my services as your mortgage agent

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A Co-signer story

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A co-signer story Considering co-signers to help your mortgage may be a very smart thing to do in regards to money-saving, however, this advantage may come with some potential risks that may end up consuming some of those savings or even worse, potential legal conflicts.

A good family that I know wanted to buy a house to stop renting, they had been renting for a long while and they wanted to start owning, however, their income was insufficient to prove affordability to a lender that they would be able to repay the requested mortgage. They have saved for their down payment, their credit was ok, It was only the insufficient income.

They approached a good friend in whom they trusted enough to ask to help them being a co-signer so that they could qualify to purchase the home for their family. He would need to commit to their mortgage obligations and responsibilities, except that he wouldn’t be paying the monthly mortgage payments unless the couple couldn’t make them.

The family was able to qualify and purchase their home, they were able to make the payments and live a better life, build some wealth and save more money than when renting. The co-signer was offered a very small percentage of the value of the property for the diligence of being included in the property title.

Suddenly, the good friend that was the father to a teenager passed away, this brought some complications and extra legal work and expenses to the family a couple of years after as they were planning to refinance their mortgage, and they needed to remove the co-signer from the title.

This is an example why it is wise to accept the mortgage protection plan offered with your mortgage.

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No fee refinance promotion

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Street Capital No Fee RefinanceIf you are looking to refinance your current mortgage this limited time promotion might help you save even further.

To optimize your savings, lower your borrowing cost, better your cash flow and most of all meet the financial goals you have set for the short and medium future, consider this not so common promotion that we have just received. It may come in the nick of time for you.

In this limited time promotion, the lender street capital takes care of the legal fees on your behalf when you choose a 5 years term refinancing mortgage, whether you choose a fixed or a variable rate.

The minimum loan amount, for this limited time promotion, is $250,000 and borrowers can refinance their mortgage at the competitive street capital mortgage rate.

Important benefits that you as a borrower need to consider if you are planning to refinance your current mortgage are:

  • Single point of contact at FCT (Who will service the legal process of your mortgage)
  • Expedited funding process
  • In-home signing appointment/notary office in BC

What this promotion includes is:

  • All discharges
  • All cancellations
  • Funding
  • One signing appointment
  • Payout of all secured and unsecured debts (Refinance)
  • Payout of current mortgage (Straight Insured Refinance)
  • Any applicable taxes
  • A title insurance policy in favour of the lender

FCT stands for “First Canadian Title”

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Automatic mortgage renewal

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Automatic mortgage renewal

Authomatic Mortgage RenewalsBe wise and observe the terms and amortization payments schedule in your mortgage to see how much you can save with your educated decision, rather than just the standard or automatic mortgage renewal from your lender.

When you choose to renew on a yearly basis, you are also choosing to be subject to the rate that the lender will determine around 1 month before the renewal following a letter from the lender recalling the mortgage (which adds to the stress)

When you choose to renew your mortgage automatic you will also start a new term to which you need to agree, and when you start a new term, you will also start a new amortization period in which you can see that your payments will be applying more to the interest than to the principal, extending the length of time for you to liquidate your mortgage for good. This is also translated in a much expensive borrowing, costing you seriously more at the end. It is not wise in most cases to renews automatically, and why do it when you can have your mortgage assessment done for free?

Contact me now

Review your credit

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Review your credit

Review Your CreditReviewing your credit can help you prevent identity theft, prevent fraud and safeguard the wealth that you have been working for

Have you ever wonder if there are debts under your name that you are unaware?

Have you know of anyone that have experienced an identity theft?

Have you experienced not being able to qualify for the lowest mortgage rates available because of your credit rating and/or score?

May I help you with your mortgage?

Our times are filled with advanced technology with  the intention of making our life easier and prosperous, and our days are certainly different from those of our parents especially in regards to the amount of information that flows through our many different channels, devices and file cabinets. So much and so fast-moving information that it is very easy for many of us to fail to protect our own, from those whose intentions are to obtain strangers’ information for the purpose of benefiting themselves at the cost of others.

Not with the intention to scare the reader but to help with a single advice in this matter, review your credit file. Knowing your credit file is your responsibility and you can get it free, click here to get it now and understand how credit works when you need a mortgage

Knowing your file can save you not only money but stress and protection of the wealth that what you so hard have been working for. Many unpleasant surprises can be avoided when acting.

I invite you to contribute to a more honest society by reporting fraud follow the conversation #fraudchat Canada & follow me @jmortgageca

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Be prepared for your mortgage

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Be prepared for your mortgage

Plan Ahead and SaveAnticipating for your coming mortgage renewal, refinancing or home purchase will always pay off, it’s a smart decision and an excellent financial practice. Since you are not in control of all the factors that affect your future transaction, it is most convenience to stay ahead of the curve.

Unless you prefer the stress of higher interest rates, mortgage penalties and being declined in the worse scenarios, you surely want to plan ahead every step of your coming mortgage process.

Whether you know where to start or you have no clue, that is not the issue here, because with the right guidance, all you need to know is why you want or need a mortgage. We’ll take care of the how and perhaps even the when.

Timing is important, have your mortgage assessment practiced 6 months ahead to avoid rate increases, missed opportunities, or even false expecttations

If you are a first time home buyer,  planning to renew your mortgage or to refinance existing debt and would like to know about your mortgage, prepare the following before you arrange your mortgage assessment meeting.

  • Personal picture ID’s including your SIN
  • Employment history
  • Information about your income and most recent supporting documents
    • If not all your income can be supported, detail what you can and the type of income you earn (Waitress tips, construction workers, etc)
  • Details about your financial commitments or debts
  • Details about your savings
  • Your home rental or living history
  • Current mortgage statement (for renewals and refinancing)
  • Have your questions ready

There are always more chances you help you when you plan ahead of time

Practice your mortgage assessment, then just follow your strategy, say NO to procrastination and achieve your goal. Where there is a will, there is a way!

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Need extra income?

financial-freedom-exit

Decreasing bond value pushes to higher mortgage rates

Decreasing bond value pushes to higher mortgage rates

Financially speaking, a bond is a debt instrument that based on a current rate pays interests with certain periodicity and investors attracted to profit from those bonds may see their principal invested upon maturity of the bond.
Since the mortgage rates having remarkably low due to a slow pace economy, the profit of the bonds do not seem to be as attractive as before, therefore the price of the bonds for future debts seems to be lowering.
To make the price of the bonds more attractive, there is a need in the market for an increase on the mortgage rates to avoid investors looking for different industries or markets where to invest in search for a higher return.
In short: Mortgage rates may see an increase in the current year.
Advice: Lock your mortgage rates now or soon, however do not fall into the innocent category where you only pay attention to the rate, as a mortgage may be more convenient when including other terms like being portable or assumable.
If you need to switch from your current lender, that may not be a problem as some of our lenders offer free switch and transfers helping to pay the penalties originated by the early switch or transfers in order to save the costs to the borrower and win their business
Feel free to contact me for more information
Contact your mortgage agent

Mortgage Agent

Mortgage broker Toronto with quick personalized service, access to lenders offering their lowest mortgage rates through Mortgage agent Jesus del Rio

Mortgage AgentWe can save you thousands of dollars on your residential mortgage, complete your online application, click on the top right banner now

From your TMortgage Broker - Mortgage Edgeoronto mortgage agent, you have quick personalized service and get your mortgage loan approved.

Don’t worry about your credit, submit your online application and let’s get it done now!

If you already own a property, request a property value & comparable sales report when you complete your online mortgage assessment

If you have questions about what type of mortgage you need, learn about the following mortgage products

MortgageSecond MortgageRefinance
Reverse mortgageHome Equity Line of CreditCommercial Mortgage

Whether you are looking for a mortgage to purchase a home, refinance your existing mortgage and your other loans or credit cards in order to pay less interest, or if you are looking for a commercial mortgage to finance your business, you can call me to help you get that financing that you seek.

Let us help you

Request your *mortgage assessment free*, apply online and get a free one on one meeting

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