I believe that each and every client deserves the best service and care, whether refinancing their existing mortgage or obtaining a mortgage to buy their dream home. I am here to help families across Simcoe County, with all their mortgage needs. If you are looking for trusted, reliable, unbiased advice, look no further. I will treat you and your family the same way I would treat my own.
With access to over 90 of the top lenders in Canada, I have the tools necessary to place any mortgage, including refinances, purchases, renewals and debt consolidation, mortgages for new comers, self-employed, tarnished credit, etc.
My Personal Experience with Unconventional Financing
Fun Fact- A little over 11 years ago, my husband (then boyfriend) and I decided we wanted to move out of our parents houses. We had both just started our careers, and what we wanted to buy vs. what we qualified for were two totally different things. But we knew we didnt want to rent and pay someone elses mortgage. So, with some great advice from a family member in the real estate industry, we explored different home and mortgage options. We decided on an owner occupied rental home, and an interest only mortgage with a private lender. I know what youre thinking because I thought the same thing at the time. Interest only mortgage?! But the lower monthly payments, afforded us the luxury of a 4 bedroom, 3 bathroom home, with a 2 bedroom, 1 bathroom basement apartment to rent out. We diligently put away the rent payments, every month to put towards paying down the principal on the mortgage, and after 5 years had paid down the mortgage so significantly that, combined with the appreciation, the equity allowed us to purchase our next home. Our second home would have been out of our budget as well, had it not been for the significant down payment from the equity built up in the prior home. Not only that, but we had now progressed further in our careers, which meant we were making more money, and were able to get traditional financing from one of the big banks.
So, at the time, what seemed like a risky decision, yet the only way we could have bought a home, turned out to be the best stepping stone for our future real estate ventures.
Whats my point? Well, dont assume you will be renting for the rest of your life, or cant make the jump off your parents couch, until you explore all avenues. Would this situation have worked for everyone? No! Had we not been diligent in putting money towards the principal, we likely wouldnt be where we are today. But if you want something bad enough, you will do what it takes to make it work.
Working with a mortgage agent can help you explore various untraditional methods that are available. Contact me today and lets make your homeownership goals a reality.
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.
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.
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.