Mortgage Intelligence

Oshawa's Mortgage News Desk!


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What’s on your bucket list?

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At the eve of dawning the new year, let’s hope you have had a chance to make a bucket list for 2016. Your bucket list will include all the goals you want to achieve, and the life experiences and dreams you want to fulfill. It’s often viewed as a “to-do” list for the golden years of retirement, but your bucket list can also include items that you can fulfill now or in the near future. Financial resources are often needed to knock items off your list, which is why your mortgage should always be a top focus. Your mortgage is the cornerstone of a sound financial plan, and can help you take control of your financial future so you’ll be better able to achieve all that is on your list.

Here are some tips to help you do just that!

  • Speed up your mortgage paydown. Try to find a way to use your prepayment privileges every year… at least once. Tax refund, financial gift, small inheritance… or just being more disciplined with your savings.
  • Deal with high interest debt. If your credit card balance is more than you can pay off in the next few months – and especially if you have other loans – then you need to start a paydown plan. The right debt consolidation strategy could save you thousands and put you on the right financial path.
  • Sharpen your focus at renewal. When your lender sends you a letter saying it’s time to renew… then it’s time to get an expert second opinion. Speak to your mortgage broker, to make sure you’re getting the best deal possible!
  • Renovating over relocating. The right renovation might be all it takes to turn the house you’re in, into the home of your dreams. It is almost always less expensive to renovate than to relocate! There are great financing options available if that’s what’s in your future this year!
  • Take care of your credit. It’s so important to have good credit behaviours so you always qualify for the best mortgage rate. Pay your bills on time. Don’t let your credit accounts exceed 30% of the credit available. Before you cancel any credit cards, get advice. And don’t apply for a store card just to save on your purchase that day!
  • Choose low-interest debt. Whatever your need might be – funding education, a large purchase, investments, renovations, or paying down debt, your mortgage might be your most cost-effective financing option.
  • Don’t leave money on the table. If you bought your first home last year, you may be able to take advantage of the $5,000 non-refundable Home Buyer Tax Credit amount, which provides up to $750 in federal tax relief. Not sure if you qualify? Just ask!
  • Separation or divorce? Your home can be the asset that gives you both a fresh start. And if one of you wants to keep the marital home, there are some great mortgage options available!
  • Mortgage checkup. Get one every year, no matter where you are in your mortgage. Your car gets taken in for regular servicing; shouldn’t your financial future get the same kind of attention?

 When you take responsibility for your life and your finances, you can achieve all that is on your bucket list. Your mortgage is a key component, and the experts at MiMortgage.ca can help, to make sure it will get you where you want to go!

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Holiday Financial Comfort

 

Your financial comfort & joy could be the best gift that you can give yourself, this holiday season. Contact the team at MiMortgage.ca at 1 866 452 1100. We maybe able to help!

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Preventing Identity Theft

Image by courtesy of crocktock.com

Image by courtesy of crocktock.com

Identity theft can cause you huge headaches, but having your house sold without your knowledge is among the worst kind of outcome that can result. Take steps to prevent identity theft and fraud by:

Image by courtesy of jgllaw.com

Image by courtesy of jgllaw.com

  • Checking your credit reports (www.equifax.ca, www.transunion.ca), credit card and bank statements regularly for inconsistencies, unknown charges and unauthorized credit inquiries.
  • Not giving out personal information unless you know who you are dealing with, how it will be used, and if it will be shared.
  • Protecting your mail and being aware if bills don’t arrive on time.
  • Shredding all documents with personal or financial information.
  • Safeguarding your PIN and decline the “remember me” on-line option for financial cards.

So speak to the team at MiMortgage.ca about how title insurance could help protect your home from real estate title fraud!

 


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Reno boom!

DB15036_reno_78281093Canadians are on track to spend $53 billion on renovation projects this year. Scotiabank recently reported that spending on renovations was up by six per cent as Canadian homeowners seize the opportunity presented by historically low interest rates to enhance the comfort and enjoyment of their home, while boosting its value. Many are doing a “reno and roll”: rolling the cost of their renovation into their low-rate mortgage. The end result is an upgraded home using the lowest cost funds.  If you’ve owned your home for a few years, chances are, with some expert refinancing advice, you too could launch your own ‘reno & roll’ project. Talk to the team at MiMortgage.ca and get started on building a smart financial plan for your dream renovation in 2016!


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MI Oshawa Angels Deliveries

A very big thank you to everyone that supported Mortgage Intelligence – Oshawa with donations. With your help, we managed to support the following local shelters in Oshawa:

  1. YWCA Durham (Adelaide House) – shelter for women
  2. Cornerstone – selter for men
  3. The Refuge – shelter for youth

Shopping marathon

Big shop to (5)

 

 

Once again, Thank You for your support and assistance towards making our charity event a success!

 


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Ten great reasons to use a mortgage broker

DB15036_financialconcepts_62023960For many Canadians, mortgage payments are their single biggest expense. Yet most don’t shop around and compare to ensure they are getting the best mortgage rate and terms available in their circumstances, which can cost them tens of thousands of dollars over the term of their mortgage. So don’t make that same mistake! Here are 10 reasons why you need a mortgage broker working for you:

  1. Choice.  We work with a wide range of lenders, including major banks, credit unions, and other national, regional and private lenders will instantly become accessible to you, ensuring that your specific needs are matched to the right mortgage.
  2. Great rates. Get money in your pocket by taking advantage of Mortgage Intelligence’s clout with lenders. Our stellar reputation and longstanding experience allows us to negotiate great rates and access limited time specials.
  3. A focused expert.  A mortgage is a very significant financial event. That’s why you want someone who is highly specialized in mortgages and focused solely on your needs. You will get advice that will make a significant difference in your financial life.
  4. Independence & objectivity.  We work for you, not the lender.
  5. Solutions when you need them.  We can assist with funding for bank turndowns, the self-employed, past credit problems, etc. There are mortgages for almost any situation and we know them all.
  6. Save time. Everything relating to your mortgage can be managed around your busy schedule.
  7. Service, service, service. We will be with you every step of the way, to answer all your questions, outline your best options, and efficiently guide you through the process.
  8. Ongoing support.  Our services don’t stop after the mortgage closes. We will stay in touch with you for the term of your mortgage with advice and opportunities.
  9. No cost (oac). The winning lender pays compensation for the services and solution provided, which means no fees for you in the vast majority of cases.
  10. Your satisfaction.  Our goal is to ensure that you are so completely satisfied with your mortgage experience that you will be happy to refer us to your family, friends and colleagues.

Thinking of homeownership, renewals or refinancing? It’s worth having that conversation with the team at MiMortgage.ca to find out your options.