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Home Ownership Strategies

Tips for Buying a Fixer Upper Home

Are you looking to buy a home but faced with budget constraints on how much you can afford on payments? A solution to this dilemma maybe a fixer upper home in the neighbourhood that you would like to live in.

Once you have your eye on a potential fixer upper home, getting a home inspection on the property and hiring a contractor to get an indication of any structural issues, repairs and renovations that maybe required and to get quotes on the costs involved is a smart way forward. Be sure to add an additional 30% or so to the estimated amounts for any other unexpected costs that may incur. Expensive renovations and upgrades include full kitchen, bathrooms, electrical, plumbing windows and repairs to the roof.  All renovation costs can be added on to your mortgage at the time of purchase.

To view video:

http://www.theglobeandmail.com/report-on-business/video/video-how-much-house-can-you-afford/article20465454/?videoembed=true

Read the article by Globe and Mail for more information.

If you have found the right home but need a fixer upper to make it your dream home, contact the team at mimortgage today. To get pre-approved today, apply now through our secure online website or speak to one of our agents at (866) 452-1100.


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Knowledge is Power in Real Estate Investing.

Investors Still Turning To Real Estate

With a 5-year down turn in the stock markets, many people have turned to Real Estate as an investment vehicle. The fact of the matter is housing has continued to increase while stock markets rise and fall with every little global hick-up shows on the daily trending of markets around the world.

So it’s good to know where the hot real estate area is if you happen to want a good investment property.  While lists of top areas and for investment abound, there’s just no better way to find a solid property with good future potential than to use your local professionals as a guide.

ImageBuild a Team of Professionals.

Along with a local Realtor its also a great idea to have a mortgage adviser that is familiar with the area in which you are buying. Having relationships with lenders that are familiar in a select areas can culminate in fast approvals, less paper and a better rate. Together with an experienced Home Inspector, Legal Representative and Insurance Adviser the whole process can and should create a sound future investment.

There is really no replacement for a team of seasoned professionals and their collective knowledge when it comes to buying investment Real estate.

With a team of  full time Mortgage Agents, and Durham Region’s largest Mortgage Intelligence office you know you have found the best possible starting point for your investment mortgage solutions.

For Investment Mortgages there one great place to start!

Call Mortgage Intelligence today

Please use our secure on-line link to apply now! 

It's So Easy!

It’s So Easy!


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Banks Restrict Borrowing Options.

One Less Way To Finance Investment Property.

In the past Investors who had good assets through registered investments had the option of lending themselves money through Self Directed RRSPs.  That meant that as long as they had enough money they could lend without explanation. It gave them the opportunity to buy investment properties that the Banks may not have considered but that they knew were profitable and added value to their portfolio.

But now that option, that personal choice, is no longer available through a Bank. At this time only three companies in Canada will allow it. They are Home Trust, Community Trust and Great Western.

The idea that a Bank will not allow mortgages through Self Directed RRSPs may cause investors to think there is greater risk than there may actually be.

No more Self Directed RRSPs

From a mortgage broker standpoint it also means we have one less option to offer our Investor clients. Keep in mind that in the past those who used this method were generally season investors in the first place, not the beginner.

We must ask the question, “Are Banks trying to eliminate the competition that the use of private funds creates or is there great risk in borrowing your own money?”

What do you think about this? Your comments are welcomed.