Managing your mortgage

Aside

Managing Your MortgageThe following is a smart edition prepared by CHMC and the Government of Canada and distributed to help advise our Mortgage Edge clients about the importance of managing a mortgage.

We all receive advice on how to manage our homes, our business, our time, and now you can learn about how to manage your mortgage to make your life even easier.

If you are planning to purchase a real estate property or to refinance one, call me to make a one on one meeting and look at the details of this article, especially if your current financial situation makes your purchase fall outside of this ae rations mentioned here

Managing your mortgage

Click here to download

Ontario Land Transfer Tax

Featured

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

Call or text 416-262-7139
Contact meApply On Line

Home Trust Secured Visa

Home Trust secured Visa signature

Home Trust Secured Visa, improve, build, rebuild, improve your credit, get all details and apply online.

Learn how it works, apply online now, get your visa in the mail soon.

Helps you improve and control your credit

This Visa reports monthly to both Equifax and Trans-Union.

To assure accurate and timely processing of this application, please review the following:

Security Deposit: The preferred method is to send a personal cheque drawn from your Canadian Bank account; third-party cheques are not acceptable. The minimum deposit amount is $500.00 and the maximum is $10,000. Please make the cheque payable to Home Trust Company.

When providing a personal cheque as a security deposit, if you know that your credit bureau is less than 6 months old, the maximum deposit amount we can accept is $1,500.00. Additionally, please also include a copy of a utility bill (which shows your name/address) or 2 pieces of photo ID (Government issued).

We can also accept a Canadian bank draft or money order. However, with this payment method, you must also include a copy of a recent Bank statement (showing your name, the name of your Financial institution, type of account (i.e., savings, chequing) and your partial account number).

Consumer Proposal: This product is available to clients in a Consumer Proposal; letter of good standing is not required.

Bankruptcy: This product is NOT available to those who are currently bankrupt, however, applicants who have been discharged from bankruptcy can apply at any time, but must include their “Certificate of Discharge” with their completed application.

Secured Visa applications along with their respective deposits/additional documents can be mailed to 145 King Street W, Suite 2300, ATTN Visa Department, Toronto, ON M5H 1J8.

Get control on your own credit, select the Home Trust Secured Visa of your choice:

No Fee Secured Visa CardLower Interests Secured Visa Card
No Fee Home Trust Secure VisaLower Interest Home Trust Secured Visa

2016/2017 CHMC housing market outlook for the GTA

Aside

2016/2017 CHMC housing market outlook for the GTA

CHMC GTA Housing Outlook Fall 20A short and easy to read summary of the CHMC study on the 2016/2017 CHMC housing market outlook can be found on this page and a link to the entire downloadable report can be found at the bottom of this post.

At any time, if you wish, you can request a one on one meeting or conversation to learn details of this educational study by phone or text dialing 416-262-7139

Mortgage rates may stay steady for the next 1 or 2 years
  • Home buying affordability may decrease
  • Toronto is the most expensive city
  • Supply will keep the resale market balanced
  • 30,000 condos in GTA
  • 2017 prices will go up 2%
  • Price growth to slow
  • Pace of construction to ease
  • Condos to dominate construction increase
  • Low inventory has led to higher prices
  • Low-rise sales trending higher
  • Unemployment and earnings growth is low
  • Bank of Canada lowers target rate
  • Price growth outpacing income growth
  • Price growth reflects sales of expensive homes
  • More transactions are in the expensive house market
  • Condo inventory above historical level
  • Growing long-term investor activity
  • Most condo inventories are bought to rent
  • Condo investors are there for a long run
  • Slower price appreciation for new condos

CHMC High Rise Starts OutLook Fall 2015

This study may be very useful for all those who are engaged in one way or another in the

May I help you with your mortgage?

housing market in the Greater Toronto Area; Whether you are seeking to purchase a home or condo in the coming 2 years or you already own a real estate property, this insight may help you to take a wise decision.

Contact your mortgage agent

Become a mortgage lender

Aside

Become a mortgage lender

Become a LenderA mortgage lender is who lends money securitized, and registering the loan against a real estate property with the intention of benefiting from the interest paid by the borrower. Banks, financial institutions and private lenders profit from this service and help borrowers with their financial needs and have the security on the borrower’s property.

Investing in real estate is one of the most profitable ways of investments in Canada, It’s easy, secure, profitable and you don’t need to purchase a new property to be able to profit.

What you need is cash from savings, from your own home equity or from your low-performance investment funds, even from your already saved RRSP funds….If your cash is not producing, you should become a lender, if your funds are performing under 8% you should become a lender.

You can become a lender and help yourself, help your family, a friend or someone else. They pay their mortgage and you collect the interest paid by them, is that simple.

Becoming a lender is secure, easy, quick and limited to those that apply and qualify first. Fill up the form below and request a one on one meeting for detailed information.

Region of Waterloo affordable home ownership

The Region Of WaterlooRegion of Waterloo affordable home ownership offers to allocate for families and individuals with the 5% down payment in a forgivable loan to help them purchase a home with the intention of living in it.

The residential property must be:

  • In the Region of Waterloo
  • A maximum purchase price of $243,300
  • Approved by the region of Waterloo

To be eligible to qualify for this program families and individuals must:

  • Qualify for a mortgage
  • Have a maximum household income of $73,050
  • Be at least 18 years old and currently renting
  • Not own or have an interest in a home
  • Not owe money to a Community Housing landlord
  • Be a legal resident of Canada
  • Intend to have this home as your one and only residence

This is a limited time, limited funding mortgage product.

Call or text 416-262-7139
Contact meApply On Line

 

Residential Construction Mortgages

Residential Construction Mortgage

Faster approvals and easy advances

For you who are looking to start a new project and looking for financing options, why not getting faster approvals and easy advances, simply the best lending solution.

Residential Construction Mortgages details: 

  • For builders or borrowers wanting interim financing for a new construction project, for renovating an existing structure and for land acquisition
  • Loan commitments are made at the time of approval and may not exceed 85% of budgeted costs, up to 75% of the land value and may not exceed 65% of Pro-forma appraised completion value
  • Draw advances are easy with support from our Construction Specialist and can be made up to 5 times though the project
Call or text 416-262-7139
Contact meApply On Line

Home sale prices in Ontario

Home sale prices in Ontario

Is it really worth it to buy a house? That is a question that some renters that I have come across with have or had, like John and Sue (not real names) from Toronto, who were renting because they never thought that they could buy a house considering their financial situation. After our first meeting at that corner coffee shop (it was very crowded by the way), they felt comfortable enough to take the next step

The next step was, to decide whether to start their mortgage assessment or not, they decided to go ahead as they had nothing to lose and now they own a condo on a 15th floor that is more comfortable than the apartment they were renting and in a safer area; their mortgage payments are currently lower than what they were paying as rent.

The following chart from CHMC, illustrates in a simple way the average home sale prices in Ontario, includes a forecast for the years 2013 & 2014.

What you as a borrower can take from this is that, those who in the past years, were able to invest in a real estate and capable of keeping their investment, have now benefited by the growth of their equity, even through the slow economy that we lived in the past few years.

In the graph, as we observe a steady increase in home sale prices, we should also consider the savings resulting from low mortgage rates (not expressed in the chart below).

The growth of wealth in equity offered by the residential real estate industry, should be considered as a clear message, and an invitation to those who are currently renting, to invest securely and buy their homes now, rather than later.

Situations that prevent renters from buying a home like, low credit, no initial down payment, low income and others can be overcomed with a clear and solid strategy and here is where I can help you.

Home Sale Prices in Ontario

Source CHMC

 Contact me now for more information

 Contact your mortgage agent

Toronto Mortgage Agent

The Toronto mortgage agent of Mortgage Edge to get your first, second mortgage or line of credit that you need, apply online and deal with many mortgage lenders

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.

Toronto Mortgage agentLet’s get it done now

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

Call or text 416-262-7139
Contact meApply On Line

 

Family Plan Mortgage

Family Plan MortgageFamily plan mortgage is a mortgage loan that allows an immediate family member to assist financially another immediate family member in the purchase of a new home

Family plan mortgage is one of the insured, owner-occupied mortgage loans, good credit rating is necessary and both members of the family must be included in the property title.

Family plan mortgage is great for the following examples:

  • A parent who wishes to help an adult entrepreneurial child buy a home

  • A parent helping to buy a home for an adult child at a post-secondary educational facility

  • An adult helping to buy a home for elderly parents who are living on a fixed income

Insured Mortgage Facts:

  • 2+ members of the family purchasing a home

  • All applicants must be on title

  • For immediate family members

Eligible properties:

  • Number of units: Max 2 – at least one should be owner occupied

  • Good conditions property in marketable area in municipality with resale value stability

  • New constructions or existing properties

Call or text 416-262-7139
Contact meApply On Line

Mortgage brokers

Mortgage EdgeMortgage Edge: a successful group of mortgage brokers in Toronto and servicing the entire province of Ontario with over 25 years of experience helping clients obtain and manage their mortgage with a unique philosophy to serve and protect the consumer

Mortgage agents and Mortgage brokers at Mortgage Edge, are committed to helping you make an informed decision when it comes to your mortgage, considering your personal financial plan and major life goals to grow your wealth, your mortgage will be one of your most important financial tools 

One of our commitments as mortgage agents and mortgage brokers is to advise you considering your personal financial plans, and life goals to grow your wealth, we work hard and smart to protect your interests

What do you need a Mortgage Broker for?

  • Do you need a mortgage advice?
  • Do you need a report on your property to see if you have equity that you can use?
  • Do you need a mortgage refinance?
  • Do you need a first or second mortgage?
  • Do you need a secured line of credit?
  • Do you need to take some equity out of your property?

MortgageSecond MortgageRefinance
Reverse mortgageHome Equity Line of CreditCommercial Mortgage

About myself as your mortgage agent, with certifications from CAAMP (Canadian Association of Accredited Mortgage Professionals), and years of experience at Mortgage Edge, committed to the consumer and lenders licensed Mortgage brokers & regulated by the Financial services commission of Ontario I am also a member of IMBA (Independent Mortgage Brokers Association), we  observe our code of ethics and a deep customer protection philosophy .

Let’s get your mortgage approved now!

Call or text 416-262-7139
Contact meApply On Line