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 40 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?
Top five home renovations that increase property value
Looking to increase your homes property value? Here are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investment 5-6x what they cost. #5 Flooring Flooring is one of the most important aspects of your house. You will see an immediate rise in property valuation with the installation of hardwood floors. Existing hardwood floors that you can refinish are ideal as they are less costly to restore and in higher demand than new flooring materials. For the bathroom, tile will always be in demand and retain value exceptionally well. #4 Fixtures Kitchens often look tired and dated, in large part due to old fixtures. Replacing or updating cabinet hardware, light fixtures, countertops and faucets will result in an immediate increase in your homes value. This small, but effective upgrade will also revitalize the entire home. Pot lights are in high demand in open concept style homes. #3 Bathroom Thebathroomis the second most important room in the home in terms of valuation. If you can add a three-piece bathroom to a home with only one full bathroom, you will see a dramatic rise in the market value of your home. While you should never compromise bedroom space for a bathroom, try sneaking one in dead space in the home. Scott managed to fit in a 3-piece bathroom under a staircase the width of the room measured just 44 inches. As an added tip, use glass for the shower to make the bathroom feel more spacious. #2 Kitchen Kitchens are the single most important room in the home relating to valuation. The kitchen can make a significant difference in the value of your home. As such, it is crucial that you invest in having a modern, fresh anddesirable kitchen. Modern cabinetry, under cabinet lighting and new appliances will all significantly increase the value of your home on the market. To save on cost without compromising construction and desirability, look at options like Ikea cabinets as opposed to custom cabinetry. #1 An Income Suite No surprise, but the single biggest way to increase the value of your home is to build an income suite within the property. Whether this is converting yourbasement into a rental, or another floor in the home, an income property will increase your homes worth. The main reason for this is that it covers a portion, or sometimes all of your mortgage payments, and results in your home being cash flow positive which creates real wealth that can supplement your income. sources:www.homeownership.ca; www.genworth.ca
Valuable Fraud Prevention Tips for Homebuyers and Homeowners: Part 1
March is Fraud Prevention Month. Canada Mortgage and Housing Corporation (CMHC) has consistently been a leader in the fight against mortgage fraud and offers the following tips to protect yourself against becoming a victim of mortgage fraud. Misrepresentation of Information Mortgage fraudoccurs when someone deliberately misrepresents information in order to obtain mortgage financing that would not have been granted if the truth had been known. This can include: Misstating ones position or inflating ones income or length of service at their job; Misstating employment status (ie. salaried/full time versus contract, part time, hourly or commission-based or self-employed); Misrepresenting the amount and/or source of the down payment; Purchasing a rental property and misrepresenting it as owner-occupied; Not disclosing existing mortgage and/or debt obligations; Misrepresenting property details or omitting information in order to Inflate the property value; Adding co-borrowers who will not be residing in the home and do not intend to take responsibility for the mortgage. Another common form of fraud is when a con artist convinces someone with good credit to act as astraw buyer.A straw buyer is someone who agrees to put his or her name on a mortgage application on behalf of another person. In return for their participation, straw buyers may be offered cash or promised high returns when the property is sold. Often, straw buyers are deceived into believing that they will not be responsible for the mortgage payments. Consequences of Misrepresentation Borrowers who misrepresent information and straw buyers who allow a property to be purchased in their name are committing mortgage fraud and will be responsible for any financial shortfall in the event of default. They may also be held criminally responsible for their misrepresentation. Reporting Fraud If you suspect that you or someone you know has been the victim of mortgage fraud, please contact your local police department or The Canadian Anti-Fraud Centre. On-line:www.antifraudcentre-centreantifraude.ca Toll Free: 1-888-495-8501 Toll Free Fax: 1-888-654-9426 Email:firstname.lastname@example.org To find out more about mortgage fraud, visit the fraud prevention section of the Canadian Association of Accredited Mortgage Professionals (CAAMP) website athttp://mortgageconsumer.org/protect-yourself-from-real-estate-fraud. For over 65 years, Canada Mortgage and Housing Corporation (CMHC) has been Canadas national housing agency, and a source of objective, reliable housing information. Source: CMHC