Angela Kroemer Mortgage Professional

Angela Kroemer Mortgage Professional
1.250.650.4182
Showing posts with label angelakroemer comox valley. Show all posts
Showing posts with label angelakroemer comox valley. Show all posts

Thursday, October 11, 2012

Market Growth Beats Naysayers



The unsinkable Canadian real estate market appears to be just that, with new numbers pointing to continuing price growth in the country’s biggest market, despite fears of a correction. but not so fast, brokers, that may not be good for business.
Numbers released by Statistics Canada this morning reveal prices of new homes were up 0.2 percent in August, the 17th month in a row prices have increased. The numbers come as a surprise to some, surpassing the .01 per cent growth projected by market analysts. Still, the report did not include condominiums, which have seen prices fall, not rise this summer.
Outside that key segment of the market, Toronto and Calgary showed particular strength; the Toronto-Oshawa metropolitan region was up 0.3 percent in August from July, as was Calgary. While the increase was attributed to market conditions in the Toronto region, increased construction, material and labour costs were the cause of Calgary’s spike, said local builders.
Still, the continuing rise in home prices isn't necessarily good news for brokers, many now sitting on a mountain of preapprovals as clients wait for prices to drop. These new numbers indicate that the wait will likely continue for many of those mortgage professionals as sellers hold off on price drops.
For August, price increases were recorded in 10 metropolitan areas, and were 2.4 percent higher in August 2012 year-over-year. Quebec saw the biggest increase, with prices up 0.6 percent. Prices fell in Victoria and Charlottetown (0.4 percent and 0.1 percent respectively), and remained steady in nine of the areas surveyed.

via CMP



Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
Local: 1.250.650.4182
TFP: 1.888.679.0190
Fax: 1.888.679.0192

Tuesday, September 4, 2012

Renovations You May Regret

While everyone is in the do it yourself mode, there are certain renovations that you may regret spending money on once you have put the home on the market for resale.
You certainly can renovate your house to a point that you are comfortable with it, but don't take it personally when your realtor advises you on what will get your house sold and what will not.
Some of your loved renovations may have to be torn out to get your home sold as not everyone is a do it yourself type of person.  Potential buyers who have to hire people to do renovations only see more unnecessary money that has to be spent after buying your house.

 Renovation upgrades, such as kitchens and bathrooms, are usually fairly reliable for adding to a home’s resale value. But there are others (and if you’ve gone househunting in the last few years, perhaps you’ve seen a few) that are just plain bone-headed. What’s worth the cost and what isn’t?

Which home upgrades are least likely to return their full investment (or close to it) when you sell, or can even turn buyers off. Some of her answers might surprise you.

Wall-to-wall broadloomOnce considered a selling feature, this is now a liability in many buyers’ eyes. Broadloom is incompatible with pets and people with allergies, and is perceived as hard to clean. If you have hardwood floors, have them refinished or consider installing them if you don’t.

Whirlpool baths, saunas and indoor hot tubsOnce considered chic, these are now often seen as just expensive, energy-guzzling extras.

Expensive built-in sound systems and home theatresSome buyers will be attracted to this, but not everyone is an audio/cinephile, nor will they pay a premium for a house with this feature.

Colourful bath fixturesThese went out with poodle skirts. Chances are the buyer will just see them as a renovation to-do and will plan to get rid of them after the purchase.

Ornate chandeliers, wallpaper and paint treatmentsTaste is very individual and idiosyncratic decorating can turn buyers off; stick with neutral, simple decor.

Odd rooms and wallsA wall bisecting a large bedroom into two unusably small ones or a cramped powder room under the stairs or in a closet … many buyers will see these as merely a future  renovation expense.  (Same goes for inexplicably missing walls, such as a bathroom that is open to the adjacent bedroom.)

Overly fancy appliancesStainless steel-finish appliances are worth paying a few more dollars for (compared to equivalent white or colour models), but six-burner professional stoves, double dishwashers and a fridge big enough for a restaurant rarely recoup their initial cost.

Cheap laminate or vinyl tile flooringSome types of laminate are attractive and practical; others just look cheap and fake. Especially avoid peel-and-stick vinyl tiles or be prepared to replace them when you put the house on the market. For not much more money, choose hardwood, stone, bamboo or cork.

Swimming poolThere is some debate about this among realtors; to some buyers, a swimming pool is a selling feature. But a pool rarely recoups its entire cost, and it will reduce the number of potential buyers interested in your home.

Turning a three-bedroom into a two-bedroom homeEven if that third bedroom is very small, it’s still a bedroom. No matter how spacious your newly enlarged master bedroom or how luxurious that new spa bath, the demand for two-bedroom homes is significantly smaller than for three-bedrooms, and they command considerably lower prices.
List supplied By Martha Uniacke Breen
For information on mortgages
 
Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
Local: 1.250.650.4182
TFP: 1.888.679.0190
Fax: 1.888.679.0192


 

Saturday, August 11, 2012

A Collection Of Cool Ideas For your Home

As summer progresses, I have come across some neat ideas for your home that people have posted on the internet. I cannot take credit for any of these ideas.

Turn that outdated coffee table in your basement into a re-purposed beautiful bench!


Now THAT is pretty cute, don't you think? Snap lock bag, a peg and pipe cleaners. Easy.


Easy wainscotting! Glue picture frames to bottom of wall, add trim above and paint!



Wow! Isn't this an ingenious and simple idea! Talk about a great idea that works with the Three 'R's' concept of Reduce, Re-use, Recycle!.. Let's add Re-Purpose! Do you have any ideas to 're-purpose' things in your home or business?



Dress up your basic bathroom mirror! Use silicone adhesive to glue pretty tiles around the edges.


A much better use for a rake in my opinion !




Penny Floors.
Floors that use pennies instead of tiles.  Give it a rich copper look.
A very time consuming project , but if you have the time and patience it would be a very beautiful floor.




Anyone else have a great project that they did. Please let me know, as I am always looking for new cool ideas. 


For a mortgage that is right for you.

Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
Local: 1.250.650.4182
TFP: 1.888.679.0190
Fax: 1.888.679.0192

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Saturday, August 4, 2012

The Importance of Choosing a Mortgage Professional in the Current Canadian Mortgage Environment

 This current mortgage environment may be the best time to find the most suitable deal with the help of an experienced broker.



Why is that?  Please read on.

Due to low mortgage rates in Canada, banks and brokers are both offering lucrative mortgage deals. With speculations of mortgage rates rising in the future, for Canadians this may be the best time to secure an appropriate deal according to calgaryherald.com.
Keep reading for some long-term advantages of choosing mortgage brokers over banks and the more clear benefits of brokers over banks.

As many borrowers are struggling to find the best deal before the Canadian mortgage rates climb and  while banks will be the first to toughen their policies and increase their rates, this may be the best time for borrowers to secure their chance of finding the right rate by choosing a broker.

The Toronto Real Estate Board thinks that with a stricter mortgage policy in effect, there are some clear advantages of choosing a broker. Brokers offer more choices and open doors to better options and flexible terms. The possible reason behind this is their professional relationship with a wide number of lenders.

 Without the mortgage broker, a borrower is confined to the best deal offered by the particular bank.

On the other hand, a mortgage broker has access to multiple lenders and banks and therefore, is able to find more competitive mortgage rates and deals.

Due to their professional relations, banks and lenders are more likely to offer brokers better rates than they’d offer the individual buyer. Yet, since the brokers are not working for any bank or financial institution specifically, they can offer impartial and unbiased advice to their clients according to torontorealestateboard.com.

Another reason why mortgage brokers will be able to find better deals is that they are more aware and well-informed about the Canadian mortgage market.

When dealing directly with banks, borrowers usually have to carry out all the research, and more importantly, negotiations on their own.

But due to lack of industry and market knowledge, prospective buyers may be unable to negotiate for the best rates. So, bankers may find them an easy target to lure into deals that are more profitable for banks instead of the borrowers.

It seems not all the banks are deceiving in this aspect. As a matter of fact, some banks do offer special rates and deals for their older customers, but a long standing history and flawless credit score plays a crucial role in this aspect.

In contrast to this, mortgage brokers may find an appropriate deal even for borrowers with low credit score issues.  Mortgage brokers take out the time to analyze your credit score in a better way. A low credit score does not always mean that a borrower cannot qualify for a better mortgage rate. In that case, brokers will dig out the best deal for you even when banks won’t.

Another major negative view related to mortgage brokers is that the industry is not regulated and therefore, the risk is higher. But as far as Canada mortgages are concerned, this assumption is false. According to the Canada Mortgage and Housing Society, all reputable mortgage brokers are regulated by federal and provincial financial services regulation agencies.

Like banks and other major institutions, brokers are also required to strictly adhere to the rules and compliance standards. In the case of  British Columbia  mortgage brokers, The Financial Institutions Commission (FICOM) regulates all mortgage professionals and protects borrowers against related fraud and crimes. This can be verified at http://www.fic.gov.bc.ca/.

Rates will  rise. This may be your last chance to find the rates which will allow you to afford to purchase a home. Yet, the best mortgage deal is not just about the best mortgage rates. It is about finding rates that will benefit you in the long run. Only an experienced, knowledgeable and honest mortgage professional can help you find that deal before it is too late.

For a great mortgage rate.

Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
Local: 1.250.650.4182
TFP: 1.888.679.0190
Fax: 1.888.679.0192
Your Mobile Mortgage Professional in The Comox Valley TM

Wednesday, August 1, 2012

Interest Rates And Monthly Payments

So, you have been reading or hearing about rates being lowest in history.  You have been reading or hearing different rates in the news, from banks, from mortgage professionals, from newspapers, etc.  Every week there is a new rate being advertised. It is up , it is down.  It can be just as confusing as the gas prices. 

You may be asking yourself  'where are the best rates'?

Well of course mortgage professionals have the best rates. But, not only the best rates, they have the best products. Our products are the full suite products. Meaning that even if our rates are low, your mortgage comes with many options such as, being able to port your mortgage to another house, if you should want to sell and buy another one.  Each of our Lenders have great products and well as fantastic rates.

If rate is your deciding factor, make sure the rate comes with all the bells and whistles, because you can have both.  The Banks want you to believe that if you are a rate shopper, you do not get the bells and whistles. Not true. That is what most Banks offer, one or the other.  A low rate and nothing else or a high rate and all the bells and whistles.
The Lenders I work with offer one option and that is low rate and all the bells and whistles. 

Now what about rates and payments?

Today is August 1 2012. Today I can offer you 2.99% on a 5 year term. The rate that most Lenders are offering is 3.19% and the Banks are offering 5.24%. Big difference for sure.

I would like to show you the difference in your monthly mortgage payment, to give you an idea of how much you can save.
So imagine you want to buy a house for $300,000.00.
5% down would be                                      15,000.00
                                                                 ------------------
Mortgage is                                               285,000.00    
 I used 25 year amortization as per new Canadian guidelines.

----------------------------------------------------------------------------------------------------------------------
                          Unadvertised                    Advertised                            Posted Rate
                          Rate (Lender)                   Rate (Lender)                       Bank
--------------------------------------------------------------------------------------------------------------------------
LOAN                2.99%                                3.19%                                 5.24%
$285,000.00
--------------------------------------------------------------------------------------------------------------------------
Monthly
Payment             $1347.28                           $1376.68                             $1696.72
--------------------------------------------------------------------------------------------------------------------------

So, you can see the difference on payments for the same mortgage with the same bells and whistles.
Why would you pay more?
You could save almost $4200.00 per year. That would be a nice vacation during our most darkest, wet and coldest month on Vancouver Island.  A little sun vacation would be good for the soul and family life.

So you think, Wow, I am hooked. But who are these Lenders?
Our Lenders are called Mono Lenders. Why, because all they do is Mortgages. They follow the same rules as our Canadian Banks.  They are regulated by Canada.  They are safe and here to stay.  Also our Lenders can be Credit Unions and Banks, depending on which is the best fit for  your situation.

One thing Canada does have is the best regulated Mono Lenders, Private Lenders, Credit Unions and Banks, probably the best in the world.

My friend got a mortgage with a mortgage professional and the mortgage is with a Bank and a good rate, why can't I get that same rate with the same Bank?  The Banks have a few programs going on. If you are a Bank client, they will offer you their best rate which is today around 5.24%.  But, if you go through a mortgage professional we get better rates. Why? Because the Banks still have to compete with the Mono Lenders.  It doesn't seem fair that you are a client of the Bank, pay lots of service charges just to bank with that Bank and then they give you a higher rate for a mortgage? 

If you have any questions, send me an email at akroemer@mortgagegroup.com
                                                              Phone or text me at  1.250.650.4182


For a great Mortgage




Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
Local: 1.250.650.4182
TFP: 1.888.679.0190
Fax: 1.888.679.0192
Your Mobile Mortgage Professional in The Comox Valley TM

Thursday, July 5, 2012

Visual Look at The Mortgage Changes July 2012

A visual look at the changes in mortgages July 9 2012.

On June 21, 2012, Ottawa tightened rules on mortgage lending in Canada, reducing the maximum amortization period to 25 years, down from 30.  Here's a visual look at how these changes (effective July 9) would affect one homeowner's mortgage payments using a five per cent sample interest rate.


Sources: Canada Mortgage and Housing Corporation mortgage calculator,
Canadian Real Estate Association, CBCNews.ca
[Infographic by Ruby Buiza/CBC]


Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team

1.250.650.4182
akroemer@mortgagegroup.com
www.KroemerMortgages.com
Your Mobile Mortgage Professional in The Comox Valley

Facebook Page https://www.facebook.com/#!/akroemer
365 Things To Do In Comox Valley     https://www.facebook.com/cvmortgages

Thursday, May 31, 2012

More Canadians Locking in Low-Rate Mortgages, Reducing Debt

Garry Marr  May 30, 2012 – 1:01 PM ET |Last Updated: May 30, 2012 5:57 PM ET

Highlights of CAAMP report:
- 23% of mortgage borrowers voluntarily increased their regular payments
- 19% made lump sum payments
- 10% made both lump sum payments and increased their regular payments
- 50% of borrowers pay at least $100 per month above their required payments
- 74% of borrowers who renewed in the last year saw their rate decrease by an average of one-half percentage point
- 83% of Canadians have at least 25% equity in their home
Canadians have been taking advantage of record-low interest rates to lock in their mortgages, a new survey suggests.
The Canadian Association of Accredited Mortgage Professionals, in its annual spring release, says among the 3.8 million Canadians with a fixed rate mortgage, 14% chose to lock in during the past year.
“This data supports comments by lenders that they have high numbers of new borrowers who start with variable rate mortgages but soon opt for the security of fixed rates,” says CAAMP in the report. Overall, 29% of those with mortgages have a variable rate leaving them with exposure to any changes in the Bank of Canada’s lending rate which the prime rate — used in those loans — tends to track.
The survey also found Canadians are making significant efforts to reduce their debt with 23% of respondents saying they voluntarily increased their regular payments, 19% making lump sum payments and 10% doing both.
For those who increased their regular payments, the average amount of the increase was $400-$450 per month. With about 5.85 million mortgage holders in Canada and roughly 1.35 million increasing their payments, it translates into about $7-billion per year. Lump sum payments averaged $12,500, and with about 1.1 million people making these payments, that equals about $13.75-billion.
“Despite daily warnings in the media about mortgage indebtedness — or maybe because of them — Canadians are making responsible decisions about their mortgages and they’re exhibiting confidence in their own situations,” said Jim Murphy, chief executive of CAAMP. “We should feel encouraged by this behaviour — it means Canadians are well positioned to weather a potential rise in interest rates.”
Overall Canadians have $994-billion in mortgages on their primary residences and $161-billion in controversial home equity lines of credit or HELOCs which allow them access to the equity in their home.
The total equity takeout from residences was $46-billion in the past year with renovations accounting for $17.25-billion of the money used. Another $10-billion was used for investments and $9.25-billion for debt consolidation.
Amortization periods, which have been legally shortened by Ottawa for insured government backed loans, are shortening. Lengths are down 20% but Ottawa legally reduced the length a mortgage could be amortized from 40 to 30 years over the past three years.

Craig Alexander, chief economist with Toronto-Dominion Bank, said the locking of mortgage rates has protected consumers from future rise in rates. “It’s a very positive thing that people are shifting to fixed rate because it provides greater security in protecting from upside risk in interest rates,” he said.
The survey also found despite the fact three of the major banks are either out of or backing out of the mortgage broker channel, it still is an important segment of the market. Brokers account for 26% of the market overall and captured 31% of activity in 2011.
The report is based on information gathered by Maritz Research Canada in a survey of 2,000 Canadian consumers in April and May 2012.
Posted in:Mortgages

http://business.financialpost.com/2012/05/30/canadians-locking-in-low-rate-mortgages-reducing-debt/

Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
1.250.650.4182
akroemer@mortgagegroup.com
www.KroemerMortgages.com
Your Mobile Mortgage Professional in The Comox Valley

Monday, April 30, 2012

Investor Insight: Tax 101 For Basement Units



Want to buy a house with a basement suite?  For most people this is a good way of getting your mortgage paid down.  It can make good money sense to have half or more than half of your mortgage payments, paid by someone living in your basement. You also get a bonus of having tax perks with your basement suite.

If you are thinking about a mortgage with a basement suite, give me a call.  There are some options for this type of mortgage.

Mortgages with a low rate
Mortgages with a fixed rate for a 10 Year Term- still under 4%
Purchase Plus Improvements - borrow extra money to make a suite or update a suite
First Time Home Buyer


Investor Insight: tax 101 for basement units


Check out my website for a special deal for the months of May and June
 www.KROEMERmortgages.com


Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
1.250.650.4182
akroemer@mortgagegroup.com
www.KroemerMortgages.com
Your Mobile Mortgage Professional in The Comox Valley

Facebook page:  https://www.facebook.com/#!/pages/Angela-Kroemer-AMP-Mortgage-Professional-12506504182/174796809243771

365 Things to do in the Comox Valley:  https://www.facebook.com/#!/cvmortgages

Saturday, March 31, 2012

Earth Hour Tonight at 8:30 pm


Again this year Canadians are encourage to turn off their lights tonight (Saturday) at 8:30 pm for 1 hour and join the rest of the world in the dark.

Since it began in Sydney in 2007, Earth Hour has grown to become what environmental group WWF organizers say is the world's largest demonstration of support for action on carbon pollution.
BC Hydro encourages their customers to join in this year. Last year stats have BC'ers saving equivalent of 7.8 million 15-watt compact fluorescent light bulbs for the hour. This amount adds up to powering 4000 homes if everyone in BC did this for 1 hour each night.

In Ontario, Hydro 1 will be turning off all non-essential electricity through out the province at their offices.

Even the NHL in Toronto and Vancouver will be dimming their lights while the hockey games play on.

Many events are taking part in Canada , as well as, around the world. Check your local newspapers and google for events near you.

WWF said the number of countries and territories participating has grown from 135 last year to 147 this year.


Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
1.250.650.4182
akroemer@mortgagegroup.com
www.KroemerMortgages.com
Your Mobile Mortgage Professional in The Comox Valley

Saturday, March 10, 2012

BMO- 2.99% Again

Thank you BMO for reposting that awesome rate again.

I don't have anything close to your advertising budget, so you posting that rate is helping me and my lack of advertising budget.
You see when you post that rate, it gets people talking and thinking about mortgages in general or their personal mortgage. When they start thinking, they start calling and wondering what this is all about. When they call me, I let them know there are better deals out there, sometimes not in rate but in flexibility and in the long run using my Lender could make the mortgage a less expensive option. Most people change their mortgage options within 3.5 years, so it is most important to have flexibility in your mortgage.

So lets break down the BMO offer

BMO 2.99% 5 year fixed
-amortization only 25 years-bigger mortgage payment
-prepayment only 10%-once a year you can raise your monthly payments up 10%, but they must stay raised for the whole year
-prepayment only 10%- only once a year you can pay off up to 10% of the orignal principal amount
-prepayment penalites will apply unless you stay with them
-you must qualify on the posted rate- which is higher and you may not qualify for the 2.99%
-rate is only held for a few weeks

Sounds like a great plan for your mortgage but in reality it is not very flexible and may cost you more in the long run if things happen in your life that you have no control over.(job loss, sickness) Example-- you have raised your mortgage payments up 10% for the year, which may be fine now, but if something happened and money is tight you are stuck with the bigger payment for the rest of the year. With the lender below, you can double up you payments any month and for just that month, giving you the flexibility of having a low mortgage payment with the option of doubling the payment at any time for as long as you like.

What my Lenders offer

Lender- 2.99% 4 year fixed or 3.19% on 5 year fixed or 3.99% on 7 or 10 year fixed

-amortization 30 year
-prepayment 15% on orignal principal on any date in $100.00 increments
-double up monthly payments on any date without penalty as many times as you like
-mortgage transferable to your next property
-you qualify on the sale rate.
-rate is held for months

This product is better than the BMO's product because of the flexibility it allows.

So BMO please keep this advertising campaign up, it only saves me money on my advertising expenses and brings more clients to me. Thanks




Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team

1.250.650.4182
akroemer@mortgagegroup.com
comoxvalleymortgagestoday.com
Your Mobile Mortgage Professional in The Comox Valley

Friday, February 17, 2012

Decoding Real Estate Jargon | MoneySense

I found this article funny and in a bizarre way kind of truthful, especially when I am househunting and come across descriptions auctually used like 'glimpses of ocean' or 'cute and cozy'. Hope you enjoy it.


The real estate jargon that’s used to describe homes. From handyman specials to condo alternative, these phrases are often code for less than desirable home attributes.

Thankfully, real estate jargon isn’t limited to just a handful. On a blog post from Biggerpockets.com, I found a long list of adspeak that’s sure to prompt a chuckle for all us homebuyers—more than a few times we’ve stumbled across a home with a “large family room,” a “newly remodeled kitchen,” or a “partial lake/mountain view.”

Here’s a few of my favourites:

Tudor: The house has two attic-style bedrooms, which are not insulated properly. This means you’ll be sleeping in a sauna in the summer, and a freezer in the winter.

Sunny corner lot: The house is located on an intersection—probably a busy intersection which is why they’re trying to turn your attention to the sky.

Easy highway access: Sure it’s easy, considering the street is the equivalent of an arterial route to the highway.

Large family room: Large, open basement that only makes sense if you stick a few couches and a TV down there.

Lots of storage space: The basement is just too small to be considered living space.

Newly remodeled kitchen: The 50-year old cabinetry and faucets were finally ripped out and replaced with cheaper Depot or Ikea equivalents.

Partial lake/mountain view: If you climb up to the roof, you can just get a glimpse.

Storybook charm: The house is old, small and doesn’t have a flat roof.

Cozy bedrooms: Not a single room could fit a full size queen, never mind a king bed!

Must see inside: Means the outside is more than ugly.

By Romana-King-Blog



Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
1.250.650.4182
akroemer@mortgagegroup.com
comoxvalleymortgagestoday.com
Your Mobile Mortgage Professional in The Comox Valley

Monday, January 16, 2012

Long-term mortgage rates have dropped to the lowest point in Canadian history


Lock in your Rates !!!!!

Note: 10 year fixed rates also lowest in history. Mortgage brokers have the lowest rates for the 10 year as banks will not do them at a great rate.

Long-term mortgage rates have dropped to the lowest point in Canadian history — and the stampede to lock in is expected to pick up.

Bank of Montreal became the first major Canadian financial institution to bust through 3%, with its 2.99% closed fixed rate mortgage for five years. Others are sure to follow.

If five years isn’t long enough for you, ING Direct has weighed into the current mortgage discussion with a 10-year fixed rate product at 3.89%. The added bonus of going longer than five years is that under Canadian law after half a decade you can break your mortgage for as little as three months’ interest.

TD Canada Trust, which had already lowered rates on six and seven-year fixed rate terms, now has lowered the four-year fixed rate to 2.99%. Farhaneh Haque, director of mortgage advice and real estate-secured lending at the bank, says the argument has never been stronger because there is no guarantee these deals will be available in two years. The two new deals from TD and BMO are limited time offers.

“Buyers have to evaluate if they want to stay in variable,” says Ms. Haque, suggesting even those with deep discounts might want to consider scrapping those deals to take advantage of the historical bargains.

It’s hard to argue against locking in, unless you are one of the lucky people with a variable rate mortgage tied to prime that came with a whopping discount. Some consumers have deals with as much 90 basis points off prime, meaning they are borrowing at 2.1%. That’s not the same as negotiating today when you’re only get 10 basis points off or 2.9%.

“You’ve got a dinosaur, you are living in Jurassic Park with something that doesn’t exist anymore. You can’t get that again,” says Vince Gaetano, a principal broker at Monster Mortgage, who suggests you keep the low rate and use the savings to pay down your mortgage as fast as possible. “You cut your mortgage in half and you don’t care as much what the interest rate is when you renew.”

Mr. Gaetano says keep on eye on some of the new products and stipulations that might include things like prepayment terms and amortizations.

Bank of Montreal’s new product demands you get a 25-year amortization, instead of the maximum 30 years, and will only let you pay 10% per year of the original mortgage amount. TD Canada Trust’s new four-year product will let you prepay 15% while ING Direct goes as high as 25% prepayment.


Garry Marr Jan 15, 2012 – 7:00 AM ET |

Please call me for rates as they are changing daily.



Thank you
Angela Kroemer, AMP
Mortgage Professional
1.888.679.0190
akroemer@mortgagegroup.com
www.ComoxValleyMortgagesToday.com

TMG The Mortgage Group Canada Inc.





Wednesday, January 11, 2012

Use RRSP's For Down Payment



Are you making good money, but don't have a down payment?

Are you a First Time Home Buyer?

You are in luck.

What you can do is go to the bank and get a loan for your RRSP contribution. If you do not know your limit then you can look on your last year's notice of assessment, it will give you the maximum RRSP limit that you can buy.
Once you have the loan for the RRSP, you can buy a house under the First Time Home Buyer program.
You use the RRSP as a downpayment up to $25,000.00 per person. You do have to pay this back to your RRSP account with in 15 years paying a portion each year.

You pay on the RRSP loan monthly just like a regular loan. When you do your Income Taxes you should get a rebate for buying the RRSP's. What you can do with this rebate is to pay part of the loan off thus decreasing the amount of interest of the loan.

Any questions, let me know.

Thank you

Angela Kroemer, AMP
Mortgage Professional
1.888.679.0190
akroemer@mortgagegroup.com
http://www.KROEMERmortgages.com

TMG The Mortgage Group Canada Inc.








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Friday, December 2, 2011

More Storage Ideas For Your Home


Weather you are thinking about up sizing, down sizing or just staying put, new storage ideas are always welcome and needed. They have a few more inventions at our local Building stores that can make any house organized.
This article has some great ideas on how your home can be made clutterfree.

Your home has a place for everything; you just need to find it

Calgary HeraldNovember 17, 2011

BY JACQUELINE LOUIE, FOR HOME RENOS

Whether it’s under the deck or above the garage, companies are finding unique ways to help homeowners store their stuff.

“Good organization is the best use of space,” says Don Fetherstonhaugh, president of The Garage Store, a company that focuses “every inch of space inside a garage, to make it more useful and more attractive.”

He says in a normal household, the garage is usually the largest space. “But it is also usually the most under utilized space in the house,” says Fetherstonhaugh.

Typically, garages become an overgrown closet for junk, he says.

Because of people’s busy day-to-day lives, the first thing they see in the morning when heading off to work, is usually the garage. It is also the first thing they see when they return from a hard day’s work.

An unorganized garage sets the whole day in motion, says Fetherstonhaugh.

By spending time sorting through storage solutions, homeowners can be shown how to double or triple the storage space by properly utilizing wall and ceiling air space, he adds.


WALL SPACE

Manufacturers have introduced a series of flat PVC polymer wall storage systems that come with hundreds of different accessories to hang items such as golf bags, fishing rods, bicycles, rakes, hoses, electrical cords and miscellaneous tools.


UPPER AIR SPACE

“We take a look at the ceiling and try to adapt a storage system to the individual ceiling space,” Fetherstonhaugh says.

“That storage can be massive. For example, you can have a large unit that will hold 40 or more large rubber plastic containers for a nice, neat storage nook.”

There are also motorized storage devices that will allow you to lift items up to a storage platform.

The latest gadget, is a four-by-eight storage system called a motorized rack. You press a button and the entire rack comes down to the floor; you load it up with your things, and motorize it back up into place again.

Bicycles are one of the more difficult things to store in a garage, because when stored “they are gangly devices.”

However, motorized storage devices can take bikes two at a time and lay them flat onto the ceiling of the garage, says Fetherstonhaugh.


TRUSSES

Homeowners can also utilize the expertise of a contractor or renovation company to custom build storage solutions and make the most of any living area.

Using custom designs and fabricated specialty truss systems, Star Building Materials is able to include storage space in the truss when building a garage, giving the homeowner immediate bonus storage space.

“They are eight-foot two-inches wide and three-feet high and allow you to utilize all the space up top,” says Star Building Materials sales manager Lorrie Wood. “It uses a space in the garage which would otherwise be useless.

“You’re able to store all kinds of things like Christmas trees, empty boxes, seasonal items and other household items.”


UNDER DECK

While most homeowners find the space under their decks are catch-alls for stray balls, dog toys and grass clippings, it can also be used to store seasonal items.

In fact, Star Building Materials under-deck storage kit featuring a two-by-four foot drawer that can be used to store such things as toys and seasonal items.

“It puts it in a nice neat box — like a children’s toy box,” Wood says.


JUST ASK

The bottom line is if you can’t think of where to store your stuff, just ask. Home building stores and renovation companies have numerous ideas when it comes to storage options, whether it is closet organizers, storage under the stairs or in the rafters.

© Copyright (c) The Calgary Herald



Thank you
Angela Kroemer, AMP
Mortgage Professional
1.888.679.0190
akroemer@mortgagegroup.com
www.ComoxValleyMortgagesToday.com
TMG The Mortgage Group Canada Inc.