Mortgage Intelligence

Oshawa's Mortgage News Desk!


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First Time Buyers… Don’t Be A Pawn!

Avoid becoming A Pawn to RBC’s Realtor Promotion

Don't be a pawn!

image courtesy of chesskid.com

Recently RBC announced that they will pay a Realtor $1000 to refer first time home buyers to them for a mortgage. RBC is Canada’s largest Bank and the largest provider of Mortgages in the country, but it seems they want a piece of the first time buyer business that Mortgage Brokers enjoy.

CMHC has shown that about 44% of first time buyers use Mortgage Brokers. No surprises here! First time buyers are generally computer and Internet savvy and they are comfortable getting their mortgage by using on-line applications. They often enjoy completing the transaction electronically just as a matter of not having to make an appointment.

Excerpt from Globe and Mail article:

The cash offer is part of Royal Bank’s referral awards program for real estate agents. The program allows agents to collect points for referrals that they can trade for things like plane tickets, merchandise, gift cards or charitable donations.

Royal Bank is not the only lender to have a referral program for agents; a number have created such programs. They are controversial, and provincial watchdogs have differing rules for them. The bank’s program is not active in Alberta and Quebec, and the bank requires all realtors who participate to sign an agreement that includes a paragraph saying they will disclose to the home buyers that they are receiving compensation “in the form required under applicable law.”

If you are a first time buyer how would you feel knowing that you are being guided to use a lender, not because it’s the best option for your mortgagee, but rather so your Realtor can receive a fee, or plane tickets, even gift cards?

Consider that as of the writing of this article on June 3rd 2014, RBC is offering 5 year fixed rate mortgages at 4.94% on their official website while we as mortgage agents are offering 2.97% for the same term. If you will consider a 4 year mortgage term we can also offer 2.77% as a rate special.

A Mortgage will probably be the largest debt that you ever have so be sure you get the right type of mortgage with the best rate and terms for your personal goals.

Contact us today if you’d like to talk about meeting your own needs. 866-452-1100 or Apply on line now! Avoid being a pawn at RBC!

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Tighter Lending Rules Self-Employed are Targeted.

CMHC to introduce more changes to Self Employed Lending.

Over the past 5 years we have seen options for zero down mortgage, no income qualified, options, 40 year Amortizations disappear from the lending landscape. And its about to happen again as even stricter rules come into play at the en of May 2014.

With this in mind, we want to share a valuable video with you. Food for thought if you will. Don’t be let down if you need a mortgage! Watch our video and contact us using the handy form below. We can help!


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The Perfect Balance of a Low Rate and Flexibility!

Don’t be Handcuffed by a Low Rate Alone!

You’ve heard the term, “Penny wise, pound foolish”. Never has it applied to mortgages more than in the current lending climate. Do you have an understanding of how a low rate can actually cause you to pay more for your mortgage? It’s true!

Take a moment to enjoy the video we’ve prepared for you. Shopping the Internet is an everyday way of finding what you want at the best price, but it only benefits you if you have the in depth knowledge of what you are really buying! Here at Mortgage Intelligence we are the experts when you need a mortgage and with over 50 Lenders to bring you the right balance of great rates and flexible features, you’ll reach your financial goals sooner.

Enjoy the show! Then contact us using the handy form below.


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Go Ahead. Make My Day!

” Make My Day”!

Make My Day

With a 2.89% Five year fixed rate Mortgage from Mortgage Intelligence right now!

 


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March Is Fraud Prevention Month

House Fraud is one of the largest in Canada.

This is largely due to the high value of our homes.                                                            Fraud and Identity Theft

Do you think it’s impossible that your house could be sold without your knowledge?

Wrong! It happens more than you can imagine.

Its starts with Identity Fraud and that leads to Housing Fraud.

This week you will learn how to protect yourself.

The following article is courtesy of RECO. Real estate Council of Ontario.

Fraud and Identity Theft.


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You’ll Be Shocked and Dismayed!

This Undercover Video Will Shock You!

 Melissa goes undercover in Guelph Ontario talking to Financial Advisors offering some of the worst or simply false information to the hidden camera.  A client reveals losing his home & marriage due to bad advice offered to him. Don’t let this happen to you!

Find out who really makes money from your investments!

Watch the shocking revelations in the CBC investigation.