A Gupta mortgage agent at Northwood Mortgage™ Ltd. Who is one of the GTA’s largest brokerage firms. We provide unmatched mortgage funding and investment services.
Whether you need a mortgage for your home or for a commercial property; whatever your personal circumstances may be, we can help.
We prides on being able to help you finance your home or business property when others cannot.
Each year, we loan approximately half a billion dollars to homeowners as well as industrial and commercial businesses.
Our well-established relationships with over 60 lenders – including Canada’s four major banks – allows us to get you very low low mortgage rates.
With our full range of services, we offer one-stop shop mortgage and financing solutions to fulfill all your lending requirements.
Contact us directly to learn more about how we can help you.
Chip Mortgage/Reverse Mortgage
We provide financial assistance to the home owners above 55 years of age, where most of the time no one is there to help them and advice them, buy providing them CHIP Mortgage/Reverse Mortgage
What is a Chip/Reverse Mortgage?
A reverse mortgage is a loan that is designed for homeowners 55 years of age and older.
A reverse mortgage is secured by the equity in the home, which is the difference between the value of your home and the unpaid balance of any current mortgage. It allows homeowners to obtain cash without having to sell their home.
Reverse Mortgages in Canada
I am mortgage adviser at Northwood Mortgage , a licensed mortgage provider comprised of a large team of highly trained mortgage professionals.
Their employees have developed an extensive knowledge of the Canadian Mortgage Market based on our exposure to it for the more than 25 years.
We are proud to represent quality products like A CHIP Reverse Mortgage, which is a Canadian financial solution that benefits Canadian homeowners.
The CHIP Home Income Plan, now called a CHIP Reverse Mortgage, has been available to Canadian homeowners since 1986 and is provided by Home Equity Bank, a Schedule 1 Canadian Bank.
Despite the fact that reverse mortgages have been around since 1986, many do not know these key benefits:
the bank DOES NOT own your home,
credit score and income verification is NOT required,
no monthly payments are required as long as you own the home!
For more information please contact :
THREE GRAND PRIZE WINNERS FROM ALBERTA, MANITOBA AND NEWFOUNDLAND WIN MEANING OF HOME CONTEST IN SUPPORT OF HABITAT FOR HUMANITY CANADA
Over 8,000 Grades 4, 5 and 6 students from across Canada shared what home means to them in the annual Meaning of Home contest in support of Habitat for Humanity Canada. Each of the three grand prize winners (one from each grade) will receive a $25,000 grant to be directed to the local Habitat build of their choice. Nine runners up have won a $5,000 grant towards a local Habitat for Humanity home build. Every student entry earned a $10 donation for that students local Habitat for Humanity, helping to raise an additional $82,000 that will go towards building more homes in communities across Canada.
Mallory Pitzner, from Airdrie, Alberta is the Grade 4 grand prize winner and will be directing her $25,000 grant to Habitat for Humanity Southern Alberta. Click here to read Mallorys winning poem When I Think of Home.
Eva Marasa is the Grade 5 grand prize winner, from Winnipeg, Manitoba. Her grant will be directed to Habitat for Humanity Manitoba. Click here to read Evas winning poem: Home.
The Grade 6 grand prize winner is Hannah Brown, from St. Johns, Newfoundland, who is directing her grant to help build homes with Habitat for Humanity Newfoundland Labrador. Click here to read Hannahs winning poem: Home.
I want to congratulate all the winners, but I also want to thank every student who entered and shared what home means to them, said Mark Rodgers, President and CEO of Habitat for Humanity Canada. Each and every one of you has made a tangible difference in your community - helping raise both awareness and funds that will allow us to serve more families.
Canadian home sales rise again in May 2019
Home sales recorded via Canadian MLS Systems rose by 1.9% in May 2019. Together with monthly gains in March and April, activity in May reached the highest level since January 2018. While sales stood 8.9% above the six-year low reached in February 2019, this latest increase has only just returned levels to their historical average.
While May sales were only up in half of all local markets, that list included almost all large markets, led by gains in both the Greater Vancouver (GVA) and Greater Toronto (GTA) areas.
Actual (not seasonally adjusted) sales activity was up 6.7% compared to May 2018, marking the largest y-o-y gain recorded since the summer of 2016. The increase returned sales in line with the 10-year average for the month of May. While about two-thirds of local markets posted y-o-y gains for the month, the national increase was dominated by improving sales trends in the GTA, which accounted for close to half of the overall increase.
Home price trends and market balance continues to differ significantly among Canadian housing markets, said Jason Stephen, CREAs President. All real estate is local. No matter where you are, a professional REALTOR is your best source for information and guidance in negotiations to purchase or sell a home during these changing times, said Stephen.
The mortgage stress-test continues to present challenges for home buyers in housing markets where they have plenty of homes to choose from but are forced by the test to save up a bigger down payment, said Gregory Klump, CREAs Chief Economist. Hopefully the stress-test can be fine tuned to enable home buyers to qualify for mortgage financing sooner without causing prices to shoot up.