Tag: B lender

• House vs Condo – Which One is Your Best Investment Option - Trying to decide if the best investment option is a condo or a single-family home? Each option has its own perks and challenges, and the right choice depends on your budget, preferred tenants, and long-term goals. In this guide, I’ll break down the key differences so you can make an informed decision with the advice ...
• Why Today’s Lower Interest Rates Make It A Good Time For Real Estate Investments - The Canadian housing market, including real estate investments in residential and commercial properties, is deeply influenced by interest rate trends. With the Bank of Canada cutting its overnight rate to 3% in January— the sixth consecutive reduction — there’s a lot to unpack about how this is impacting real estate investments and the broader market. ...
• Maximize Your Rental Property Investment By Knowing Your Breakeven Point - Understanding your breakeven point as a landlord is key to making smart decisions about your rental property investment, and for securing a mortgage. Knowing this number helps you assess whether a property is a good investment and gives mortgage lenders confidence in your ability to cover expenses as well. In this article I’ve outlined a ...
• Is An Alternative Mortgage Lender The Right Solution For You? - You’ve heard a lot about alternative mortgage lenders and wondered if this is the solution to your home buying woes. If you’re struggling to secure a mortgage for your dream home, you’re not alone. Many prospective homeowners face obstacles when dealing with traditional lenders and their strict requirements. If you have an unconventional income source ...
• Mortgage Refinancing — A Complete Guide Without The Mystery - Ever wondered about the ins and outs of mortgage refinancing? Simply put, it’s like hitting the reset button on your home loan. You break free from your current mortgage, settle the bill, and jump into a new loan with its own terms and a fresh interest rate. Timing and careful consideration are key to making ...
• Dreaming About A Vacation Property For Your Retirement? A Reverse Mortgage Can Help - Embarking on the golden years of retirement often comes with dreams of basking in leisure, and for many older individuals, that dream involves escaping to a vacation home. However, turning that dream into reality can pose a financial challenge, especially when savings are limited or tied up in your primary residence. The key to unlocking ...
• Exploring Cottage Insurance for Your Home Away from Home - In the wake of the COVID-19 lockdown, the demand for cottages has skyrocketed, causing recreational property prices to reach new heights. While many were purchased by city dwellers looking for a weekend escape or as a work-from-home solution, others were bought as a lucrative recreational property investment, largely for vacation home rental. Whether you embrace ...
• Is An Income Property A Good Investment? - Maybe you’ve come into an inheritance or received a substantial bonus at work. Or perhaps you’re looking for a way to invest your money that is lower risk and provides you with a retirement income. Either way, investing in a rental, or income property could be a good investment for your future. Although there are ...
• How The International Home Buying Restrictions Are Helping Canadians Buy Homes - Purchasing a home in Canada has become increasingly difficult with changing mortgage rules, the tightening of the stress test, and the impact of inflation over the last few years. In months past we have seen incredible competition for homes and bidding wars were commonplace which drove prices up. However, with all the changes made to ...
• The Pros & Cons of Owning Multiple Investment Properties - Think it’s hard managing one property? What about several? With the right tools and plan in place owning multiple investment properties you rent out, turning into an Airbnb, or flipping to sell can be a smart strategy. Regardless, it’s always a gamble when buying a property. The real estate market can fluctuate, or the property ...
• Tips For Paying For Your Home’s Summer Renovations - Whether you’re paying for a new roof, backyard revamps, or a kitchen upgrade, it can be overwhelming trying to figure out how to pay for this large expense. Having a new shed, deck, or fence will not only make your backyard look amazing, but will also increase your home’s value. As a financial advisor, I ...
• What You Need To Qualify For A Mortgage On An Investment Property - Have you decided to purchase an additional property as an investment? Do you have the capital or are you looking for a mortgage? If this is your first journey into the real estate investment world, working with a mortgage broker is your best bet to help you get started in this potentially lucrative world. These ...
• Bracing Yourself For The Spring Real Estate Market - The grass is greener, the flowers are popping up, the sunshine is beaming down on your back deck, and the birds are happily chirping away. It’s finally Spring! No more snow to shovel, just raking, gardening, and grass cutting ahead. However, if you plan on selling your home, you may want to add a few ...
• Tips & Advice For Opening The Cottage - It’s that special time of the year – the first weekend in the new year where you pack up your car, grab the best snacks, and head up to open the cottage! The kids are in the back, kicking the front seat with joy. You’re also excited but, in the back of your mind, you ...
• How to Prepare to Buy a Cottage - It’s that time of year when cottage life is calling your name. You’re itching to go up north, enjoy the outdoors, and escape your responsibilities at home. Sure, renting an Airbnb is nice, but owning your very own cottage is even more exciting! You have free reign to make it your very own home-away-from-home to ...
• Everything You Should Know About Mortgage Rates - We all want the lowest rate possible on our mortgage, right?! It would be nice to have extra money to spend on food, clothing, your brand new truck, and so on. You may feel like most of your income is coming in one door, and immediately heading out the other. However, there are many options ...
• The Responsibilities of Becoming a Mortgage Co-Signer - Agreeing to become the co-signer of a mortgage for a home you, yourself won’t live in, is a big step. It’s important to trust the person you’re supporting 100%, and you should be aware of the requirements, responsibilities, and risks that come with being a co-signer before signing on that dotted line. Talk to your ...
• Things To Consider BEFORE Buying A Vacation Property - These cold winter months in Barrie have us all dreaming about warmer weather on the beach. Wouldn’t it be nice to have your own place in a vacation paradise? We all want that excitement of hopping on a plane or planning a road trip to spend the winter months somewhere warm. Whether you are looking ...
• Should you consider Airbnb as an investment strategy? - Do you own an additional space or property that you’re not using? Have you ever stayed at an Airbnb and heard of the lucrative possibilities of owning an investment property? Hosting an Airbnb does present major opportunities for real estate investors. However, hosting an Airbnb does come with some challenges too. This is my shortlist ...
• Everything you need to know about co-signers - Are you having trouble qualifying for a mortgage loan on your own? Or are you not getting approved for a large enough mortgage loan and need to amp up your mortgage application? If you’re having trouble getting approved for a mortgage, a co-signer may be what you need to save the day! But what is ...
• A Quick Guide To Different Types of Mortgages in Canada - Getting approved for a mortgage is an exciting time. While it can be hard work, buying a house is one of the most rewarding experiences people go through in their life. Not only do you have a place to call your very own, but you are also investing your money into your future. However, there ...
• What you should know before purchasing an investment property - There are so many great benefits of owning an investment property. Real estate is an excellent avenue to invest your money, receive a passive income, take advantage of income property tax reductions, and so much more. If you’re considering buying an investment property, now is a great time to do so. However, there is a ...
• Financial planning and RRSPs - You’re ready to start financially planning your future, but where should you start? Navigating different savings plans and ways to invest your money can be overwhelming.. I’m here to help simplify your journey. One of the many savings accounts you can choose from to start investing your money in is an RRSP. But, what is ...
• A Home Renovation For Christmas & How To Finance It - Who doesn’t love getting gifts? I know I do. The holidays are here! But due to the COVID-19 pandemic, maybe your Christmas shopping list is looking a little shorter this year. It’s bittersweet, but with the money you’re saving, why not treat yourself to a nice little (or big) gift? It’s time to stop putting ...
• How to finance an investment property to create a second stream of income - Whether you’re interested in a new and exciting business venture or are looking for a way to create another stream of income outside of your regular salary, an investment property may be a great opportunity for you. What’s an investment property? An investment property is a property owned with the intention of earning a return ...
• Mortgages and rental properties. What you need to know. - If there is one thing that many of us have learned in the past few months, it might be that it’s really hard to create financial security with only one stream of income. With layoffs sadly being a large contributor to the increase in unemployment because of COVID-19, many families in Barrie and the surrounding ...
• Rent It or Flip It? That is the question - Creating wealth long-term is tricky. Do you invest in life insurance? In stocks? In RRSPs? In real estate? If you’re thinking of investing in real estate, do you look for a home to buy low and flip high? Or, do you look for a home that has income potential with multiple units you can rent? ...
• 5 Tips to Improve Your Credit Score - Your credit score can make or break your real estate dreams as a first time home buyer. Especially with the stress test looming overhead while you’re scrambling to get your savings together for a down payment. Mortgage lenders always will review your credit score before pre-approving you for a mortgage for a few reasons. So ...
• What are the penalties if I break my mortgage? - The Bank of Canada has announced many dips in interest rates over the past few months, so I thought it timely that we talk about the penalties of breaking a mortgage as I’ve had clients asking me recently if it makes sense for them to break their mortgage to take advantage of lower interest rates. ...
• Dealing with Debt, your mortgage & COVID-19: for the self-employed - Looking back at February in 2020, many self-employed individuals and business owners had no idea their world would change come March 15 onward. COVID-19 has had a vast impact on business owners and support from the government has been tough to navigate on many levels from an HR perspective, an operating standing point and cash ...
• The Bank of Canada Just Lowered Interest Rates Again – What You Need to Know - On March 13, 2020, the Bank of Canada made a pretty big cut to interest rates. In their press release, they mention that: “this unscheduled rate decision is a proactive measure taken in light of the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent sharp drop in oil prices”. The ...
• New Year’s Resolutions – Don’t Put off that Home Renovation - It feels like we just began 2019, and now we’re saying goodbye to another year and another decade. It’s a great time to start fresh and tackle something important, like a home renovation or much-needed repair. The problem for many people is…how exactly will you pay for such a project, particularly if your savings aren’t ...
• What You Need to Know Before Buying an Investment Property - Buying an investment property can be a great long-term investment, with the added bonus of enjoying the income from regular rental payments. It also a great opportunity for first-time buyers to break into the housing market, as they can rent it out (or a portion of it) until they’re ready to take it over or ...