Dufferin County Homeownership

Dufferin County HomeownershipThe Dufferin County Homeownership Component program is designed to provide moderate income individuals and families with an interest-free down payment assistance loan to help them in purchasing their own home.

The Dufferin County Homeownership is an affordable housing program and might provide you with an interest-free down payment assistance loan of up to five percent (5%) of the cost of an eligible home, to a maximum of $20,000.00.

 To be eligible for down payment assistance you must be a renter household and meet the following criteria:

  • Combined gross household income at or below $88,000
  • Must not currently own a home or have a legal interest in a property
  • Must be buying a sole and principal residence within the County of Dufferin
  • Have assets of no more than $20,000.00
  • Must not owe any social housing arrears, including damages
  • Be a minimum 18 years of age
  • Be able to secure financing on the property

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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

Downpayment from RRSP’s

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down-payment from RRSP’s

DownPayment From RRSPIf you as a first-time home-buyer are planning to buy your home this year and are facing the question of where will you get the down payment from? This article is for you.

One can only admit that the advantages given, by the Government of Canada when it comes to promoting homeownership are fabulous; opportunities like this should be seized, especially by those whose finances have been tight before, not allowing enough savings being allocate towards the down payment of that home that is most needed now in order to stop renting, and contributing to the payments of someone else’s mortgage. Why not contribute to the payments of your own mortgage instead?….Before it gets harder!

The Government of Canada recently announced the minimum down payment requirement will be increased from 5% to 10% on the portion of a purchase price for a property that is above $500,000 but less than $1 million on insured mortgages. This change will take effect on February 15, 2016

Getting the down payment from your RRSP’s is a very smart strategy that makes way to a greater downpayment, it requires a careful planning and commitment but it works beautifully, the greater your down payment is, the better the mortgage is for you, try it!

Do you want me to help you with your mortgage?

 

The next is just an intro on how it could work for you:

  • Read your T4’s just received by your employer, or your last week of December’s pay stub find out how much taxes you have been already deducted, and that you possibly consider now gone.
  • Calculate here what you have earned, the taxes that you have already paid and see  enter an amount that you are eligible to contribute towards your RRSP’s (see your last’s year notice of assessment from Revenue Canada), you may still add more than what you are eligible for.
  • If your tax return increases then this plan should work wonders for you.
  • Submit your online mortgage assessment application and start your process that will start sharpening numbers to give you clarity as of when you can afford to buy your home, how much you can afford, how much taxes you can save and how much returns you can also get in the following year.

You are on time to recuperate those taxes that you were already deducted from your paycheck, do not procrastinate and sieze the opportunity now!

Once we practice your mortgage assessment you will be in a better position to decide is this strategy works for you, you will also have a greater knowledge to visualize when you will finally be able to purchase your home. Not every family’s financial situation are the same, your situation is unique, that is why your mortgage assessment should be unique as well

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RRSP deadline approaching

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RRSP dead line

RRSP dead line

RRSP deadline is approaching and with that the opportunity to receive a higher tax return after filing your taxes, return that you can use towards the down payment to purchase your home when you are a first-time homebuyer. Don’t miss this opportunity.

If you are currently employed and renting you should pay special interest in this article, so take the time to read it and to follow along. Since you are employed, you have been deducted the corresponding from every paycheck, this is money that you haven’t received, however, you could still receive a good amount of them and be a winner in every way.  When you contribute to your RRSP’s savings you will be technically sheltering that amount from paying taxes this year by deferring its payment to when you reach retirement age. But this year, you will receive a higher tax return. Don’t miss it!

May I help you?

 

There are a number of calculators that can help you estimate the extra amount you will receive as a tax return after filing your taxes this year, click here to use one.

In case you don’t know it, just after 90 days of your savings being in your RRSP account, you can borrow them and use them towards your down payment.

In summary, you will add to your down payment savings:

  • Your RRSP’s savings (after 90 days)
  • Your extra tax return received after your taxes being filed.

Don’t miss it this year!

A financial advisor is the best person to guide you into details, but you need to have your savings registered by the end of February or you will miss the higher tax return this year.

If you are planning on buying your house anytime this year, you should start your mortgage assessment now and get a clear idea as of when you will be able to purchase your home or if you need anything else to be ready for that purchase.

Contact me if you have any additional questions

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35,000 home buyers plan

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35K Home Buyers Plan35,000 home buyers plan

Raising the amount allowed to be borrowed from your RRSP’s savings account from 25,000 to 35,000 to be used as a home down payment is a “Plan” that one of the candidates for the prime minister’s office is looking to champion

So far this is only a “Plan”, but how interesting is that to you as a borrower?

How does contributing to your RRSP savings account helps you?

  • Saving for your retirement
  • Gaining generous dividends from your savings
  • Tax shelter (Differing paying taxes until you reach retirement age)
  • Borrow from your RRSP savings towards the down payment of your home

May I help you with your mortgage?

 

Tax sheltering works in the following way:

If an employed person makes 50,000 a year, he/she will be deducted about 8,000, (check your T4 at the end of the year) if that person is able to contribute 10,000, before the end of the year or March 1 or Feb 29 on leap years, then after filing taxes, the return for this contributions should be around 1,800+

(These values are not guaranteed to be accurate. For informational purposes only)

Repeat this operation for a couple of years more and you’ll have saved a substantial home down payment, and don’t forget that this are amounts per person, if you area couple, you can add to the equation the correspondent amounts of the second person.

Your RRSP’s contributions plus their gains can be borrowed towards the home down payment after they have been in your account for at least 90 days

Does the “Plan” motivates you to increase your RRP’s contributions with the intention of using them later as your down payment to purchase a home?

Below you’ll find a quick poll that will help us all get a more general perspective, the more people participates, the greater perspective of the choice we all may have, so feel free to share this link with those you know

 [socialpoll id=”2290157″]

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Debt Consolidation

Debt ConsolidationDebt consolidation can be quick and easy using the equity in your home to avoid paying high-interest rates.

Call for an appointment, or apply online, with our products and services you lower your interest rates while allowing to make one easy payment per month.

When will you be debt free? Learn what affects your debts and estimate below your current debt free time

Unsecured debts (credit cards, car loans or others) offer a higher interest rate than a mortgage, while they help in the short period to purchase the goods, they also lead to a longer period and higher cost before the loan is paid.

Debt consolidation is a new loan that can help eliminate all or some existing higher interest rates loans

Debt consolidation should be considered not only when you are getting into financial problems, you can also consider it as an opportunity for new investment and wealth consolidation.

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Debt consolidation assessment practices are, quick, effective, easy and offer the following immediate benefits:

  • Save of thousands of dollars on interests based on the current debts
  • Cash flow relieve
  • Secured lower interest rates
  • Comfortable amortization periods
  • Credit scores improvements
  • Allow equity funds to be used towards other new investments

Using the equity in your home offers an easy, cheaper quick and comfortable way out of debt.

Use the credit card debt calculator below to estimate when will you be debt free

Months It Will Take To Be Debt Free:
Years It Will Take To Be Debt Free:
Total Amount Payed To Lender:
Total Interest Paid To Lender:
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Non owner occupied rental mortgage

Non Owner Occupied Rental

The non owner occupied rental mortgage loans help you qualify by adding the monthly rental income to your current income. As a result you are able to purchase or refinance a rented property and let the property pay for itself with the rent

Scenario: You currently have a steady job or business, a decent credit score, some savings but no time to start another business or job, and you would like to earn residual income from a real estate property.

The non-owner occupied rental mortgage is designed for those who would like to become real estate investors.

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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

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Home equity line of credit

Line of CreditHome equity line of credit is a mortgage loan in which the collateral is the available equity in a property, It could be a first or second mortgage

Learn how to get needed funds from the unused equity in your home with a simple online application today – “Your home equity, your funds”

What can you use your line of credit for?:

  • Consolidate debts.
  • Investments
  • Home Renovations
  • Support family in need
  • Travel en leisure

Apply for your line of credit regardless of your credit score

If it is a second mortgage, the lender doesn’t necessarily have to be the lender which facilitated the first mortgage loan.

Not all lines of credit are equal, “Your credit – Your rate”

Get your home equity line of credit before rates go up!

Ask about the new home equity line of credit just introduced by one of our major lenders to assist you with a quick approval and low rates for excellent credit or not so good credit.

Apply it online, to submit your no commitment application now click here

For a limited time, obtain your free robust Real Estate Valuation Report with your mortgage summary. Submit your online application now

A home equity line of credit can be used to finance business or consolidate commercial and credit card debts, students tuition, funeral expenses, business cash flow, vacations and more

Mortgage assessment application

Assets, debts, and property description to be completed in a separate form

Applicants that will be in the mortgage application

Applicant information

Employment and income of the applicant

If the length of the employment above is less than 3 years please complete the following previous employment information

Presenting supporting income documentation speeds up the process, response & funding time

About the mortgage being requested?

This is a secured mortgage assessment application request


 

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New To Canada Mortgage

 

New To CanadaNew to Canada Mortgage is for people who have immigrated or relocated to Canada within 60 months, offers credit record or history flexibility, lower down payment required than a conventional mortgage.

The New to Canada  mortgage is for the new immigrants that have obtained landed status and have not already owned a house It presents the opportunity to start owning a home instead of renting.

The following are some borrower qualifications for the New to Canada Mortgage:

  • High ratio secured mortgage loans with only 5% Down payment from own resources; For LTV’s less than 95%, the remainder may be gifted from an immediate family member or from a corporate subsidy. (3 years landed immigrant)
  • Or Conventional unsecured mortgage loan with 35% Down payment or more from own resources.
  • Amortization up to 30 years in Conventional & 25 years insured mortgages
  • No 3rd party/Guarantors

  • Number of units, Max 2

  • Must provide valid work permit or verification of landed immigrant status

  • International Credit Report or 2 alternative sources of credit

  • Bank reference letter or 6 months bank statements
  • 3 months minimum full-time employment in Canada (borrowers being transferred under a corporate relocation program are exempt)
  • All debts held outside of the country must be included in the total debt servicing ratio (Rental income earned outside of Canada is to be excluded from the GDS/TDS calculation)
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Cash Back Mortgage

Cadh Back MortgageCash back mortgage is a convenient mortgage loan use to purchase a home and get additional financing for other purposes at low mortgage rates, that are generally lower than the rates on the credit cards

Different percentages of cash back (1%, 2%, 3%, 4%, 5%) are offered by different lenders, some mortgage lenders allow you to use your cash back to purchase new furniture for your new home, home remodeling or restorations, some for legal fees and some even for down payment.

With a cash back mortgage, you extend the repayments through your mortgage amortization period making it easy to repay

Cash-Back MortgageIn a cash back mortgage, the mortgage rates may not be as low as in a conventional mortgage where at least a 20% of the purchase price of the property has to be invested upfront by the borrower, however, the rates are much lower than other financing channels like credit cards or personal loans.

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Zero down payment mortgage

Zero down paymentZero down payment mortgage is a Mortgage loan offered by only some lenders that offer a 5% cash back, that can be used towards the down payment.

It helps realize the dream of homeownership even before the down payment has been saved.

If you are currently renting and prefer to own your own home, but you haven’t been able to save enough for your down payment, this is your chance call now

To qualify for a Zero down payment mortgage you to have good credit (read below), a steady source of income that can show your capacity to repay the loan, (we’ll do the math together) and savings of about a 1.5% of the value of the property that you are seeking to purchase

Excellent credit is necessary for the zero down payment mortgage when available.

Click here to apply for your zero down payment mortgage or other mortgage options if necessary

Visit also low credit score mortgage 

* Subject to availability

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First mortgage

First MortgageFirst mortgage is the first loan registered on the real estate title.

Looking to buy your first home?

Save thousands on your first mortgage, know your options & get approved

Other mortgage loans can also be registered on the same property title, they would be called second or third mortgages

Whether you enjoy good credit or have bad credit, we can absolutely help you with mortgage approval application process

Reading the following will help you get approved when applying for your first mortgage

You are excited about buying your home and wouldn’t like disappointments if this is the case read the following:

  • Is smart to have your mortgage assessment practiced before you start viewing homes, that way you’ll know what you can or can’t afford.
  • Learn about the unique advantages you are entitled to if you are a first time home buyer
  • Learn about your credit and mortgage loans and credit score
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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!

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