If you are thinking of buying your first home, next home or a rental property, now is the time to get a mortgage pre-approval and lock in that rate for up to 120 days. This way, you’ll know exactly what you can afford and have your mortgage ready in hand.
I will support you every step of the way from shopping for your home, to making an offer to getting your keys.
I will help you understand the process and ensure that you get personalized advise on the best mortgage solution for you and your needs.
Things that make your loan officer cry!
If you have ever applied for a mortgage you know how much paperwork it can be. Although we still close average transactions in less than 4 weeks, there are situations where unexpected things happen. This blog is a quick guide to the 3 things that can throw off deals, and sometimes make your mortgage originator cry. Consider it a list of things not to do during the loan process.
1. When a borrower quits their job (or gets fired) in the middle of the loan process. This shouldnt be much of a surprise but if you are trying to qualify for a loan based on your income dont change jobs during the transaction. You dont have to stay at your job forever, just dont quit in the middle of your mortgage process.
2. SURPRISES! Although life is full of surprises try to be as honest and upfront about all of your debts and financial information with your loan originator up front. Its never good when all of a sudden your mortgage team pulls your information and finds out you make great money but you have $23,000 in collection debt on that boat you forgot about. Remember you dont need to over exaggerate your income to impress your mortgage company, we are more impressed with honesty and organization.
3. Disappearing Acts. Nobody loves vacations as much as we do but there are a lot of moving parts in the real estate and mortgage process and you may need to be around to sign documents and communicate. You can still take vacations just make sure to let everyone involved in the transaction know so that they can plan around your travel.
Just remember, your Realtor, your loan originator and an entire team of others are working their to their best level to help you close on your real estate transaction- before you make a bone head move, just think What Would My Loan Officer Do?
No harm can come from asking a question so whether you are already in the mortgage process or you are thinking about jumping in soon, you can call me or email me any time for free advice that will avoid tears in the future!
Canadian home sales activity strengthens in July
Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were up from June to July 2018.
National home sales rose 1.9% from June to July.
Actual (not seasonally adjusted) activity was down 1.3% from July 2017.
The number of newly listed homes edged down 1.2% from June to July.
The MLS Home Price Index (HPI) in July was up 2.1% year-over-year (y-o-y).
The national average sale price edged up 1% y-o-y.
National home sales via Canadian MLS Systems rose 1.9% in July 2018, building on increases in each of the two previous months but still running below levels recorded from mid-2013 to the end of last year. Led by the Greater Toronto Area (GTA), more than half of all local housing markets reported an increase sales activity from June to July.
Actual (not seasonally adjusted) activity was down 1.3% y-o-y. The result reflects fewer sales in major urban centres in British Columbia and an offsetting improvement in activity in the GTA.
This years new stress-test on mortgage applicants continues to weigh on home sales but its effect may be starting to fade slightly in Toronto and nearby markets, said CREA President Barb Sukkau. The degree to which the stress-test continues to sideline home buyers varies depending on location, housing type and price range. All real estate is local, and REALTORSremain your best source for information about sales and listings where you live or might like to in the future, said Sukkau.
Improving national home sales activity in recent months obscures significant differences in regional trends for home sales and prices, said Gregory Klump, CREAs Chief Economist. Regardless, rising interest rates and this years stress test on mortgage applicants will likely prove to be difficult hurdles to overcome for many would-be first time and move-up homebuyers, heading into the second half of the year and beyond.
Hacks to slash your car expenses
(NC) When you consider the rising costs of gas and insurance, owning a vehicle can get pricey. Fortunately, these easy tips can help lower how much you spend on your car so theres more room in your budget for other expenses, like groceries and recreation.
Increase your fuel economy. Did you know that a small spark plug problem can lead to a big expense? A dirty spark plug can cause a misfire, which wastes fuel and can ultimately harm your engine. To combat this, look for a spark plug thats designed for improved fuel economy, like the those from Fram. Try the Autolite Iridium XP Enhanced Alloy Technology line, which is precisely engineered with a focused ignition point for maximum power, efficiency and life.
Get regular tune-ups. When a vehicle is properly tuned, all systems work in harmony, including the fuel, ignition, emission and computer systems. While it can be a hassle getting to regular appointments at your mechanic or dealer, remember that you are investing in the long-term performance of your car, saving you time and money. Regular engine tune-ups bring power and efficiency back to your car, ensuring that its reliable, safe and road-ready.
Change your filters. There are many ways to keep your engine in good shape, helping it to last longer. One is checking the air filter every time you have the oil changed, because engine life and durability are directly related to keeping incoming air clean. Its an air filters job to remove contaminants from the air before it goes into the engine, and neglecting this component results in reduced performance. Fram extra guard filters provide premium engine protection and are proven to let in two times less dirt than the average leading standard retail brands.