My duties as a mortgage agent are to provide sound financial advice to my clients on debt management, and mortgage financing solutions. I provide advice to my clients in rebuilding their tarnished credit scores, pay off high interest credit card debts, and most importantly, finance their dream home or investment properties. A good financial plan is what everyone needs to achieve his or her financial goals.
I work with over 25 lenders and will negotiate a competitive rate and fair terms that match your needs on your behalf. Keep in mind that I work for YOU, Not the Lenders!!!
If you think my service could be helpful to you or anyone you know, feel free to contact me for a no obligation review.
BLOG / NEWS Updates
Why Should You Consider Using A Monoline Mortgage Lender?
Which mortgage lender is offering the best rates and terms? This is a very common question I get asked a lot. In many client cases that I dealt with, it is with a non-bank lender; or what our industry would called a Monoline Lender. However, due to the lack of understanding by general public, clients would show concerns and worrisome, this is why I would like to take this chance in sharing our knowledge on Monolines Lender with you. According to CanadianMortgageTrends.com, A monoline is a mortgage lender that focuses just on mortgages. A monoline lender does not have other products it can cross-sell, which differentiates it from a bank or credit union ... http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2010/10/monoline-lender.html We partner with many Tier A lenders, also known as Monoline Lenders. The lowest rates we advertise are mostly offered by these lenders. Many mortgage brokers like about their simple business model in focusing on just mortgages. They tend to focus in providing competitive mortgage solutions rather than soliciting you to open a chequing or savings account, apply for a credit card, open a line of credit, or other manner that typical banks would involve in these days. You might wonder what are the risks in going with a Monoline Lender. Monolines are in the business of lending you money, not borrowing from you. Let me ask you a rhetorical question, when money is being lend to you, is the risk of defaulting the loan lay on the borrower or the lender? The most critical is your mortgage agent can explain clearly to you all the terms and conditions in the mortgage commitments. This way, you can fully understand your rights, payment schedules, prepayment privilege, early payout penalty, and other important details before you make an informed decision. The mortgage industry is heavily regulated by the government, protecting the client. Monolines are required to follow the same lending guidelines as the major banks. In fact, many Monoline Lenders get their funding from large financial institutions like RBC, TD, and National Bank. I also did some researches with other mortgage brokers, and below are some of the common reasons why they like monoline lenders: - They do not operate in a local branch setting, so they have a lot less overhead expenses to be maintained. As a result, they often offer very competitive solution such as mortgage rates, prepayment privilege and early payout penalties. - They have customer service departments to service you and offer online access to view your mortgage details - They typically focus on a specific niche (i.e..:mortgages for self employed people.). This allows them to provide mortgage solutions and services that are especially suitable for their clienteles - They offer unique products like the 35 year amortization - Monoline mortgage lenders respect the value mortgage brokers bring to their clients. Since their business rely on maintaining a good relationship with the mortgage brokerage network, they have great incentives in providing the best solution and services to our clients. As long as client provides the necessary documents on time, they are very nimble in funding the mortgage deals. Every client has a unique situation and requires different mortgage needs. It is our duty as your mortgage agents to assess each circumstance thoroughly to determine which lender is best suited for you. Although we can also help our clients to get access to mortgage solutions from banks such as TD, National Bank, after detailed comparison, we often would recommend a Monoline Lender. Everyone wants the best rate and terms possible. If you are desire in finding a mortgage that is suitable for your needs, you have to be open mind in giving your business to that different type of lenders. After all, if there is no Monoline lenders offer more financing choices to the consumers, what is the incentive for our banks to remain competitive?
Canadian home sales fall in April
Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell from March to April 2018. Highlights: National home sales fell 2.9% from March to April. Actual (not seasonally adjusted) activity was down 13.9% from April 2017. The number of newly listed homes declined 4.8% from March to April. The MLS Home Price Index (HPI) in April was up 1.5% year-over-year (y-o-y). The national average sale price declined by 11.3% y-o-y in April. National home sales via Canadian MLS Systems declined by 2.9% in April 2018 to the lowest level in more than five years (Chart A). About 60% of all local housing markets reported fewer sales, led by the Fraser Valley, Calgary, Ottawa and Montreal. Actual (not seasonally adjusted) activity was down 13.9% compared to April of last year and hit a seven-year low for the month. It also stood 6.9% below the 10-year average for the month. Activity was below year-ago levels in about 60% of all local markets, led overwhelmingly by the Lower Mainland of British Columbia and by markets in and around Ontarios Greater Golden Horseshoe (GGH) region. The stress-test that came into effect this year for homebuyers with more than a twenty percent down payment continued to cast its shadow over sales activity in April, said CREA President Barb Sukkau. Its impact on housing markets varies by region, she added. A professional REALTOR is your best source for information and guidance in negotiations to purchase or sell a home during these changing times, said Sukkau. This years new stress test has lowered sales activity and destabilized market balance for housing markets in Alberta, Saskatchewan and Newfoundland and Labrador Provinces, said Gregory Klump, CREAs Chief Economist. This is exactly the type of collateral damage that CREA warned the government about. As provinces whose economic prospects have faced difficulties because they are closely tied to those of natural resources, it is puzzling that the government would describe the effect of its new policy as intended consequences. https://www.crea.ca/news/canadian-home-sales-fall-in-april/
First quarter: The value of multi-family dwellings leads the rise
Canadian municipalities issued $24.9 billion worth of building permits in the first quarter of 2018, up 3.3% compared with the fourth quarter of 2017. Construction intentions for residential dwellings led the national increase, rising 6.9% from the fourth quarter of 2017 to $15.9 billion in the first quarter of 2018. The 18.4% increase of the multi-family component more than offset a 3.5% decline in the single-family component. On the other hand, the value of non-residential building permits fell 2.6% from the fourth quarter of 2017 to $9.0 billion in the first quarter of 2018. The drop was the result of lower activity in both the industrial and institutional components.