AGENT LICENSE ID
Alberta
Garth Lyon
Senior Mortgage Professional
Office:
Phone:
Email:
Address:
103, 901-8 Avenue, Canmore, Alberta
It PAYS to shop around.
Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.
The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.
But I’m here to help!
I’m a VERICO Mortgage Advisor and I’m an independent, unbiased, expert, here to help you move into a home you love.
I have access to mortgage products from over forty lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.
VERICO mortgage specialists are Canada’s Trusted Experts who will be with you through the life of your mortgage.
I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the VERICO Mortgage Advisor who can help you get the right financing, from the right lender, at the right rate.
Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.
The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.
But I’m here to help!
I’m a VERICO Mortgage Advisor and I’m an independent, unbiased, expert, here to help you move into a home you love.
I have access to mortgage products from over forty lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.
VERICO mortgage specialists are Canada’s Trusted Experts who will be with you through the life of your mortgage.
I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the VERICO Mortgage Advisor who can help you get the right financing, from the right lender, at the right rate.
BLOG / NEWS Updates
Residential Market Commentary - Baby boomers and a housing market shift
THINK OUTSIDE THE BOX: The housing market shift that is supposed to be led by empty-nest Baby Boomers has been slow to arrive. But a new survey from realtor, Royal LePage, suggests it is coming. Although it might not be as dramatic as forecast.
The Boomer Trends Survey suggests as many as 1.4 million Boomers (those born between 1946 and 1964) will be in the market, buying and selling, over the next five years. That is about 17% of this major demographic. That is significant but it is muted by the finding that nearly 60% intend to stay put and renovate their current home, rather than sell and buy another home.
For mortgage brokers this represents an opportunity when it comes to refinancing and home equity lines of credit.
The long expected shift to downsizing appears to have been stalled by the Great Recession that started in 2008, which led to the rapid escalation of home prices. The survey indicates that 56% of Boomers consider their local housing market to be unaffordable. That jumps to 63% in Ontario and a whopping 78% in British Columbia. Affordability concerns coupled with the fact that the children of Boomers tend to be staying in the family home longer, appear to be holding Boomers in place.
Boomers, though, do appear to be keen to have their children benefit from home ownership. Nearly half of the older generation indicated they would help fund a childs home purchase, with just over 40% saying they would contribute up to 25% of the purchase price.
First National Financial LP August 13, 2018
Where are the best places to live in Alberta?
THINK OUTSIDE THE BOX: MoneySense magazine recently ranked towns and cities across the country, including here in Alberta. The Owl is focusing in on some of the results.
We all know Alberta is a great place to live. Everywhere you travel in this province youll find people who swear their community is the best place to hang ones hat. But is there a way to put some objective measurements to the question?
MoneySense magazine recently looked at towns and cities across the country and ranked them on metrics such as the health of the economy, affordability, tax rates, crime, amenities and climate. Assigning a weight to each of these and measuring each community, it arrived at a ranking of Best Places to Live.
Lacombe took the top honour in Alberta and placed fifth in the entire country. It ranked particularly strong on the strength of its economy (the unemployment rate is 4.9 per cent), demographics and home affordability.
Other cities in central Alberta also ranked high, including Camrose and Red Deer, ranking third and fourth respectively.
Tucked into the eastern edges of the Rockies, Canmore ranked second mostly because of its strong economy and low taxes. The leafy city of St. Albert rounded out the top five in the province. (See full rankings.)
While rankings like this can offer some insights in comparing communities on objective metrics like housing affordability and taxes, we all know that what makes a community great is its people. And because of this, it doesnt matter if its Magrath, Manning or Milk River the community where you live, work and play is the BEST for you!
ATB Financial The Owl August 7, 2018
Looking to boost cash flow? New flexible mortgage could be a game-changer!
THINK OUTSIDE THE BOX: If youre looking to free up more monthly cash flow, this new product may be a great solution.
Theres a great new flexible interest-only mortgage product that could prove beneficial for a number of borrowers, including first-timers, real estate investors, professionals, seasonal workers and others looking for lower monthly mortgage payments.
Designed to help borrowers increase monthly cash flow by providing maximum flexibility, this product can be used for both purchases and refinances.
I recently tried this product out and was really impressed!
My client was a newly-separated single mother who needed a break on monthly mortgage payments. I was able to improve her monthly cash flow on a $354K mortgage from $1,470 down to $1,261 a savings of $209 per month/$2,508 annually!
This savings was possible thanks to the ability to place 50% of the mortgage as an adjustable rate mortgage (ARM) and 50% as interest only.
Product Highlights
Interest-only available up to 65% loan to value (LTV) or 2 components of interest-only and amortizing payments up to 80% LTV
Interest-only portion must consist of at least 50% of total mortgage amount
Fixed and adjustable rate options available
Applicable mortgage amounts range from $200,000 to $2 million
Qualification based on 30-year amortization for interest-only portion
20% prepayment privileges, convertible and portable
If youre looking to free up more monthly cash flow, this new product may be a great solution. Id be happy to review your current mortgage to ensure youre matched with a product that makes the most sense for your unique needs.
Steve Garganis July 31, 2018 CanadaMortgageNews.ca
