Mortgage Intelligence

Oshawa's Mortgage News Desk!


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Top five reasons to refinance

For many Canadians, their home is a terrific repository of wealth. Home equity can build nicely by chipping away at payments and through increasing home values. Accessing home equity through a refinance (min 20% home equity) has for years been an easy, low-cost way to get needed funds. Various new mortgage rules and “stress-testing” has made refinancing more complicated, but it’s a strategy that continues to make good financial sense for certain homeowners that qualify. Here are five reasons why:

  1. Fresh start. If you have too much high-interest debt, you may be able to roll everything into one manageable monthly payment on a low-interest mortgage. Then you get a financial re-set, and can potentially save thousands of dollars in interest.
  2. Dream home. If you’ve found the perfect cottage, chalet, or the retirement home of your dreams, refinancing may be the way to make that purchase happen now if you’re not quite ready to sell your primary residence.
  3. Renovate. Renovating your home is often a less expensive option than moving. And the right renovations can improve the quality of your life and increase the value of your home.
  4. Wealth building. A rental property can give you a great wealth building opportunity and a source of retirement income. Or you may want to invest in a new business venture.
  5. Large expenditures. You may be able to get the funds you need for major expenses (tuition, wedding etc.): a much better strategy than loading it all onto high-interest credit cards.

We have access to dozens of lenders, including alternative lenders that are not subject to the new rules and have less stringent qualification guidelines. If you are interested, we can provide you with a personalized analysis so you can determine whether a refinance makes sense. Contact the team at MiMortgage.ca at 1.866.452.1100 to speak to an expert now. Our job is to help you pay down debt, build wealth, create financial security, and enjoy life to the fullest!

 

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Ten great reasons to use a mortgage broker

For many Canadians, mortgage payments are their single biggest expense. Yet most don’t comparison shop to ensure they’re getting the best mortgage rate and terms available, which can cost tens of thousands of dollars over their mortgage years. Don’t make the same mistake! Here are 10 reasons why you need a mortgage broker working for you:

  1. Choice.  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 the mortgage marketplace and focused solely on your needs. You’ll 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 provide 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.  My services don’t stop after the mortgage closes. We will stay with you for the life 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 friends, family and colleagues.

If you are looking to purchase, refinance or coming up for renewal, the experts at MiMortgage.ca can help. We will assess your circumstances and advise mortgage financing options available to you. Call us at 1.866.452.1100 to speak to expert now.