Associated with Verico Financial Group, a top Mortgage Broker Network in Canada, I aim to provide you with the best possible independent professional mortgage advice.
Starting with your own financial goals, I will advise on the best lenders and products available to you, lead you through the Mortgage approval process and keep you well informed as we move towards completion.
I offer advice both as in individual with the practical experience of shopping for a family home, in addition to that of a business owner when financing a business through both good and bad economic times, plus valuable experience as a commercial and residential property owner and investor.
Whether you are taking a mortgage for your first home, remortgaging, or re-financing, the priority remains the same – developing an ongoing mortgage strategy centred around your own particular needs.
Time for some Independent, Professional advice
Sourcing a mortgage which is right for you Independent Professional advice
Most home buyers today need a mortgage, and in todays market there is good reason to get an early start to organising your finances.
By using the services of an independent mortgage broker you not only are able to access all lenders and products to get the best fit for you, but in the majority of instances, the service is free!
Your consultation with a broker is without obligation and it will put you in a strong position to offer on a property when you find the right home.
By taking time to meet with a mortgage professional you will go through a pre-approval process which will result in a conditional pre-approval or, more accurately, a 120 day rate hold.
Subject to receiving and approving financing key words to remember
It is important to realise that although you may now be pre-approved at a certain rate there will remain a number of Lender conditions to be met. In addition, the Lender still needs to approve of the property which you wish to purchase.
For these reasons never offer on a property without inserting a subject to receiving and approving financing clause.
Be ready to make your move
Once you have met with your mortgage broker you will be on a forward footing and know:
What price range of home you should be looking at;
What your monthly mortgage payments will be;
How much deposit you will need to come up with;
What your various purchase costs are likely to be including Property Transfer Tax;
Start dealing with any wrinkles
Your discussion with your Mortgage Broker will also let you know:
How strong your credit score is and whether you need to take any remedial action;
Whether you need to arrange Gift letters (if a family member is helping with your deposit); NOAs; letters of employment and so on.
Whatever you do
Do not enter into any new credit card or financing arrangements until you have purchased your new home. A $100 monthly credit payment will reduce your purchasing power by $100,000!
Canada: Residential sales reached a new record in September
Seasonally adjusted home sales rose 0.9% in September to a monthly record of 56,422 units. Sales in Ontario missed Augusts record by a hair due to a 5.3% monthly decline in Toronto. Records were nonetheless registered in Ottawa and Hamilton. In the Province of Quebec, sales were at a record level in the Quebec CMA and in Gatineau, and close to August records in Montreal. In B.C., transactions reached a record outside the three main markets of Vancouver, Fraser Valley and Victoria. There were also sales records in Nova Scotia and New Brunswick. The active-listings-to-sales ratio indicates that the Canadian home resale market was favorable to sellers in Ontario Quebec, the Maritimes Provinces and marginally so in B.C. The market was balanced in the four other provinces.
PROMISES, PROMISES AND MORE PROMISES
Canadas Parliament re-convened today with a ceremonial Speech from the Throne delivered by the Governor General.
Canadas continued response to the COVID-19 pandemic took centre-stage, while providing a lens for a plethora of broader promises: an extension of the wage subsidy, expanded employment insurance, investments in childcare, reaffirmed commitments to universal pharmacare, and green infrastructure investments among many others.
Given the exhaustive list of priorities, this Speech is unlikely to bring the minority government down as it provides plenty of hooks for negotiations in the lead-up to a Fall update where details will be laid out.
It clearly signals more fiscal spending ahead for Canada leaving the question not if but how much. But this was largely channeled ahead, so the market reaction has been mutedor more likely, it is eclipsed by broader US and global developments.
There is little beyond lip service by way of fiscal restraint. This will be left to the Finance Minister to make inevitable trade-offs in her first budget this Fall, particularly as she may need to reserve some firepower for second waves.
Source: Scotiabank https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.fiscal-policy.fiscal-pulse.federal.federal-budget-analysis.federal-throne-speech--september-23--2020-.html