Angela Kroemer Mortgage Professional

Angela Kroemer Mortgage Professional
1.250.650.4182
Showing posts with label best rates. Show all posts
Showing posts with label best rates. Show all posts

Wednesday, October 10, 2012

How To Improve Your Credit Score

  
Are you being denied for all types of credit? Has that cell phone bill come back to haunt you? Now is the time to finally face it head on and deal with your credit score.  A very daunting task but a task that must be done.

 First you need to know what is in your credit score is all about:
payment history
amount owed
length of credit history
new credit
types of credit used

What can you do to improve it?

Whatever you do it will take some time. It will take patience as you plow away at those credit cards, getting them down to a much lower balance.  All that money just disappearing into those credit cards.  But, in the end you will see it will be worth while and no one will deny you a car loan  or even a mortgage ever again.

A little secret that not many people do not know is that whatever your limit is on your credit card, you should not owe more than 50% of that limit.  So if your limit is $1000.00, the card should never have more of a balance than $500.00. In fact it is better to have 2 credit cards with no more than 50% owed on them than have 1 credit card maxed out.  Go figure.

 What else can you do?

 Make sure you make your payments on time.  Credit companies record when you have late payments.  This is very important. Set up payment reminders.

 Don't close your unused credit cards.  If you must close a credit card close the one that is the newest. It is all about having and managing long term credit is what the lenders want to see,

Check your credit report.  They do make mistakes. Birthdates seem to be a popular one that they input wrong. If you are being denied credit and you believe your credit rating is great order a free report, go over it, making sure all the information is correct.

Store credit cards are not as good as mastercard,visa or american express.  Also store credit cards usually charge you a higher interest. To get a mortgage the lenders/banks like to see at least 2 credit lines in good standing.

Remember , it is all about managing your credit.  Everyone hits a point in their life when for whatever reason the credit managing slides. Could be a divorce, job loss, moving, marriage, etc.

Do you have questions about your credit score. Contact me and I will help you sort it out.


    

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
 


Wednesday, September 12, 2012

Renovate Or Sell?


Are more people hunkering down and fixing up existing homes rather than moving?

In some areas of Canada home resales are falling and the new housing price index slipping, people appear to be staying put a bit longer and renovating their existing homes instead of moving.

If you are entertaining the thoughts of renovating your home, will you use credit cards to pay for the renovations?  There are other ways to finance your renovations, one is Refinance Plus Improvements.  This will give you the money needed for renovations, at the same low interest rate of your mortgage.

a few things to think about when looking into Refinance Plus Renovations is:
--how much will your penalty be to Refinance
--how much your interest rate is now
--how much equity you have in the house
--how much will you save by Refinancing opposed to using credit cards at 20-29% interest
--how much you will need for renovations


 

Renovation Tips:

Peter Simpson, president and CEO of the Greater Vancouver Home Builders Association, said he spoke with several renovators and very few are fixing up homes for resale.

“Some clients have moved in and want to renovate. The others are folks who have lived somewhere for a number of years and want to stay in the same neighbourhood. They’re renovating for their own use,” Simpson said. “They’re not nervous about spending the money either.”

With year-to-date resales down 18 per cent in Vancouver compared to a year ago, it’s no longer the smoking hot sellers’ market it was a year ago. In fact, the Real Estate Board of Greater Vancouver reported that July sales were the lowest since 2000, with sales 31.2 per cent below the 10-year July sales average.

The new housing price index slipped 0.9 per cent in Vancouver in June 2012 compared with June 2011, according to Statistics Canada, while the MLS Home Price Index composite benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 0.6 per cent to $616,000 and declined 0.7 per cent in July 2012 compared to the prior month.

New mortgage rules introduced by the federal government in July shortened the maximum amortization to 25 years from 30, which is also expected to dampen the market.

Business is definitely strong this year for Jeff Bain, owner of JKB Construction, who said renovations always pick up when sales of new homes fall off.

“Everybody seems to be keen now to spend money,” Bain said. “It’s been good all year long.”
He said kitchens, bathrooms and basement suites continue to be the most popular renovations, but people are also renovating their entire homes.

“People are staying in their homes longer than they ever have in the past. They want to stay where they are comfortable,” Simpson said.

The amount spent on renovations has gone up every year for the past several years, Simpson said, but added that he isn’t sure if that’s because more people are doing renovations or because they’ve become more expensive.

Canada Mortgage and Housing Corp’s third-quarter Housing Market Outlook, released in August, said renovation spending in 2011 was $61.7 billion in Canada. CHMC says that amount will moderate in 2012, growing to $63.3 billion, but is expected to strengthen in 2013 to $65.6 billion.
In B.C., spending on renovations in 2011 was $7.6 billion. Spending is expected to remain stable in 2012 and grow to $7.8 billion next year.

For the most part, business is good for contractors, even in this year’s moderate market, Simpson said.
“One contractor I talked to said he’s having his best year ever,” Simpson said. “He said one client bought a home and they’re spending money to update it, but most clients want to stay where they are and bring their homes up to date.”

Another contractor told Simpson he’s had some customers having a harder time borrowing money from the bank, which may be a result of new mortgage refinancing rules. “Some people seem to be getting a little push back from the banks, or they might not be able to borrow as much as they want,” Simpson said. “If they can’t obtain the financing, they just have to scale it back a bit. With a renovation, you don’t have to do it all at the same time.”
 
In May, the Greater Vancouver Home Builders Association held one of its twice-yearly renovation seminar for 300 homeowners. Attendees were asked to complete a survey and Simpson shared some of the results with The Vancouver Sun.

Fifty-six per cent of respondents said they plan to renovate within the next year, while 26 per cent said within 12 to 18 months, Simpson said.

“There’s a sense of urgency. They want to renovate soon.”

Homeowners were also asked if they would need financing — 59 per cent said no and 41 per cent said yes.

Next year, when the province reverts back to the goods and services tax and the provincial sales tax, it is possible that labour on renovations will not be taxed because it was not taxed under the old provincial sales tax.

Simpson said that while it’s not known exactly what will happen when the tax reverts, the transition does not appear to be causing people too many concerns when it comes to renovating.
In his survey, he asked if people were putting their renovation plans on hold until the provincial sales tax is back and 35 per cent said yes, while 65 per cent said no.

“They’re doing renovations because they want to do them,” Simpson said. “Interest rates are still really low. People are going ahead and renovating. They want to have their new kitchen regardless of the tax.”

Simpson urged homeowners to verify that a contractor is compliant with WorkSafeBC before contracting with them for any work. It’s something that Port Moody homeowner Jan Jasienczyk wishes she had done when she needed a new roof two years ago.

The contractor she hired had documents showing that he was insured and a member of various organizations, but Jasienczyk didn’t independently verify that they were accurate. She ended up taking the contractor to small claims court when it turned out she had to redo the entire roof and her garage was damage by leaking. She eventually recovered most of the money she had paid the contractor, but she says it caused her a lot of stress and heartache.

“When you get an estimate, verify everything. Are they members of the roofing association? Do they have Worksafe?” Jasienczyk said. “Do all of those things before you commit to any kind of a contract. Do your due diligence.”

Jasienczyk ended up getting her roof re-done entirely by Penfolds Roofing, which recently announced it is launching a warranty corporation to support its roofing warranties.

Simpson said cash deals are always a bad idea, but he estimates that about 30 per cent of renovations are done under the table.

“It’s rampant. People want to avoid the harmonized sales tax or any taxes,” Simpson said. “There’s about $7.6 to 7.7 billion to be spent on home renovations in B.C. this year; I believe with that much at play there is a lot of opportunities to deal with the underground economy.”
 
He says people are at risk of being sued if a contractor gets injured if they are not covered by Worksafe.

“Unless homeowners want to put the contractor’s kid through university, they better make sure their contractor is fully compliant with Worksafe.”
He said it is easy to check if a contractor is compliant with Worksafe, and renovators can even request a no-cost compliance letter

How do I know whether my contractor or subcontractor is insured?
You can request a clearance letter that tells you whether a firm, contractor or subcontractor is complying with our registration and payment requirements.
http://www.worksafebc.com/help/faqs/default.asp?section=Insurance#Whoneedsworkplaceinsurance?6

tsherlock@vancouversun.com
Refinance Plus Improvement 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
 

Sunday, September 9, 2012

Feng Shui-Can It Help to Sell or Buy Your Home

 
For a realtor trying to survive the currently sluggish market, there might be no sight as disheartening as that of the unyielding feng shui master who shows up with the buyer to assess the property.
The master, is, after all, probably going to get the last word.

The ancient Chinese practice of feng shui, which is, roughly, about creating a harmonious environment, can have a major impact on a sale in the Lower Mainland. Feng shui master Johnson Li knows all about that, having shot down many a potential purchase.

Mr. Li has been a feng shui master since arriving in Vancouver 20 years ago. He divides his time between the Lower Mainland, Hong Kong, China, and places like Victoria and Seattle, where he’s called upon to assess homes for occupants or would-be buyers.

Feng shui got plenty of media attention in the late 1980s, when a wave of Taiwanese buyers was purchasing and renovating properties based on the system. Today, it’s still alive and well and has spread beyond the Chinese demographic, with devotees from other cultures opting to let feng shui guide their choices.

Mr. Li acknowledges that he is one of the most expensive feng shui masters in Vancouver, but his rate is even higher when he works in China. Here, he charges $8,800 to assess commercial properties; $3,800 to assess houses, and $2,800 to assess apartments. His fee is not to assess only one property for a client, but rather, as many properties as necessary until he finds one with good feng shui. He says that he once rejected more than 100 listings until he settled upon an appropriate house, which must have been an interesting situation for the buyer’s realtor.

The practice is not limited to Chinese buyers, says Mr. Li. He has clients who are Caucasian and East Indian. In Surrey, a Polish family requested his help when they couldn’t sell their house after six months without action. After his recommended changes to the house, he says they sold two months later.

Patricia Coleman is a feng shui practitioner who caters mostly to a non-Chinese demographic in Vancouver. She has guided homebuyers and has “feng shui’d” houses to make them easier to sell.
“I have a lot of western clients,” she says. “It’s not just about trying to sell a house, but making the right decision. It’s a huge purchase. You need to ask, ‘Is it the right one?’

“Every culture has an understanding of placement and energy.”

Faustina Kwok, who lives in Richmond with her naturopath husband Martin, says their new house was built according to feng shui principles that she believes will increase its value. They also “feng shui’d” her husband’s clinic. However, when it came to the house, she wasn’t willing to forgo a good floor plan and flow for feng shui, Ms. Kwok says. She’d been inside “feng shui’d” houses that felt odd because the flow was off. But she was willing to move the driveway, and add a partial wall so that the master bedroom wasn’t in direct view of the front door.

“We just did the big modifications, like where the toilet shouldn’t be,” she says. “You don’t want to flush your fortune away. At least I take comfort knowing my toilet is not in the wrong place,” she says, laughing.

Although growing in popularity, it’s still a largely misunderstood practice, says Mr. Li. Some people think that the popularity of an address that includes the number eight is feng shui, but that’s more about superstition. Feng shui grew out of something far more practical, he explains.

“It is the art of looking at places that are safe or not, gauging whether they are a habitable place,” he says, seated in his Kingsway office, surrounded by his extensive library, a translator at his side. “Feng shui means the study of surroundings.”

Mr. Li has stopped the sale of many houses, and he’s witnessed attempts at feng shui by builders who were shrewdly, or naively, anxious to appease the Chinese market. Mr. Li explained how he once kiboshed the sale of a newly built home in West Vancouver. The builder had hired another feng shui expert to help design the house, which included a giant vertical aquarium as well as an indoor Koi fishpond. Mr. Li took one look at the aquarium and pond and gave a thumbs-down on the pricey property. His clients took his advice and walked. The builder was so furious, he says, that they asked him to put his reasons in writing.

As he poured another round of green tea, he explained that it’s a basic feng shui principle that you don’t want water above your head. As well, a Koi pond inside a house is not a good thing, he added.
When asked to explain, Mr. Li chuckled and said, “Because it will smell like fish.”

As for the feng shui practitioner who’d allowed such missteps, he explained that unfortunately, because so many consumers want instant and easy answers, there are a lot of unscrupulous practitioners who don’t know what they are doing. He doesn’t like doing assessments for developers and realtors because “they use him to make money.”

He recalls a realtor slipping him a red envelope as he was doing his assessment. The envelope was stuffed with a substantial amount of money, which he later turned over to his clients.

Emily Lo says she trusts Mr. Li for all her real estate purchases, even if it irritates the realtors, who often try to persuade her to use Mr. Li’s report as one of the subjects to sale. However, she’d prefer to get his opinion upfront, after the initial walk-through.

“He has the power of veto, and if you are paying that amount of money, you are going to trust what he says.”

Gastown realtor Ian Watt says the issue of feng shui comes up about once a month.
“A lot of my Chinese clients are really big into that,” he says. “It’s amazing, because it does affect real estate for a certain demographic. Everybody over 50 cares for sure.”

He has a client with a condo on Pacific Boulevard currently on the market, and the client refuses to let him close the window during showings.

“It’s on Pacific Boulevard, which is very noisy. The traffic sounds don’t help,” he says. “They want the window open all the time, and it’s something to do with feng shui.”

Anna Chen, who co-owns the unit with fiancĂ© Dan, can explain. Her uncle is a feng shui master who visits from Taiwan, and he told her to keep the window open in order to sell the unit. Ms. Chen, who is 32, said that she was reluctant to believe in feng shui throughout her 20s, but now that she’s older, she’s starting to see its value.

“I think it helps. I’ve seen it help. So that’s why I asked my uncle to help me to sell the place, and also to help us buy the next place. Now, when we go to a new condo listing, sometimes I ask him to come with me. He told me the direction of the entrance and everything will affect health and fortune, how much you can make, or are you going to lose.”

An Excellent article by Kerry Gold
Special to the Globe and Mail September 8 2012


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
 
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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

Facebook pages

https://www.facebook.com/#!/akroemer

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Tuesday, July 24, 2012

Canadians Get Creative To Avoid Renting

More and more Canadians are extending the amortization on their car loans as a way of qualifying for bigger mortgages, according to a new survey -- suggesting that number will increase as first-time buyers look to move beyond renting.

In fact, more than half of those borrowing to finance their vehicles are already opting for 72-month amortizations or longer, representing a nearly 40-percentage point jump from just five years ago, reads a report from JD Power and Associates.

“Consumers today just don’t think of the car as being $28,500,” said JD Ney, with JD Power. “They think of it as being $500 a month. There’s a certain pain threshold – whatever it takes, we’ll try and keep that monthly payment.”

Playing with amortization on car loans is one way mortgage brokers have advised clients looking to prepare for a mortgage application.

Still, most mortgage professionals have counselled borrowers to opt for less expensive auto purchases as a better of preparing to meet debt-service requirements and win home loan financing.
That advice may be increasingly hard to follow, with brokers pointing to mortgage rule changes that have only strained the ability of many borrowers to qualify.

That is a huge increase from just five years ago, when 14 per cent of buyers borrowed for six years or more, said J.D. Ney, an automotive account analyst in the consulting firm’s Canadian office.
Written by Vernon Clement Jones

Thank you to http://www.canadianrealestatemagazine.ca/news/item/1284-canadians-get-creative-to-avoid-renting




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

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

Monday, July 23, 2012

Canadian Renters Freeing Themselves Of Debt


Don’t break open the bubbly quite yet, landlords. A new report from Equifax suggests more Canadian households are getting a handle on the kind of debt that keeps them renters instead of homeowners.
Growth in consumer debt fell 30 per cent in the second quarter, compared to a year earlier, reflecting the single biggest drop since before the recession.

“For the last couple of years we have seen almost double digit growth in some cases, it slowed down a bit last year, but we have never seen it slow down as much as we have (now),” said Nadim Abdo, VP of analytical services for Equifax Canada.

In real terms, consumer indebtedness – not taking into account mortgage debt -- climbed 3.1 per cent year-over-year in the second quarter. That’s down from the 4.4 per cent increase logged a year earlier, according to the Equifax quarterly trend report.

Economists are calling that improved financial footing the most conclusive indication to date Canadians are getting the message about the dangers of household debt levels, now averaging 152 per cent of income.

That rise was a key reason the federal government moved late last month to introduce tighter mortgage rules, a way of discouraging the at-risk consumers from taking on new mortgage debt.
The move is expected to benefit property investors as demand for rental units increases, taking rents with it.

That Canadians are now getting a hold on their spending is likely to salvage the homeownership dreams of many.

The report also found that high-interest credit card debt fell by 3.8 per cent in the second quarter, with bankruptcies down 4.5 per cent from the year-ago period.

Written by Vernon Clement Jones


250.650.4182




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

Saturday, July 21, 2012

Low Rates are Making Reverse Mortgages Attractive

There are many reasons that more Canadians are choosing reverse mortgages as a financial instrument for their retirement. Low interest rates are one of them. In many cases, the interest rate for a reverse mortgage is even lower than a mortgage that someone may have taken out five to ten years ago on their home, making a reverse mortgage a no-brainer way of paying off a mortgage into retirement.

HomEquity Bank now Provides CHIP Home Income Plan
The institution behind reverse mortgages in Canada is a federally registered bank, which means they are able to offer lower interest rates than they have in the past. The cost of borrowing against your home’s equity has never been lower than it is right now.
There are no “gotchas” with a reverse mortgage, and the process of applying for one is regulated so that there never can be. Applying for a reverse mortgage requires legal advice, for one, so you can always be assured that you’ll have a third party looking at the deal for you and ensuring that you are getting the best value for your money.

Use Low Interest Rates to Your Advantage
Pay off your household debt going into retirement. Help family members buy their first homes. Get the money for traveling in retirement that you’ve always wanted but didn’t quite have the ability to put aside. There’s a million ways you can use the money that you could get for a reverse mortgage, and low interest rates mean now is the time to access your home’s equity before they have a chance to go back up.

Use a Reverse Mortgage as a Financial Instrument
If you have a higher-value property that you plan on staying in during your retirement, you may not “need” the money from a reverse mortgage. But think about what you could do with the tax-free money from your home equity on the stock market or in other investments, such as your own small business. A reverse mortgage offers a huge benefit over a home equity line of credit in that you have the option to choose a fixed rate for a period of time with a reverse mortgage. With a home equity line of credit, you are at the bank’s mercy and your interest rates can be increased without your consent at any time. Tap into your home equity that won’t leave you at the mercy of creditors in your retirement with a reverse mortgage.
Want to find out just how low interest rates are on a reverse mortgage? Contact me today for the rates and to answer any questions you have about the application process.

About Us

My CHIP Tools

A CHIP Home Income Plan is a reverse mortgage that is the simple and sensible way to unlock the value in your home and enjoy life on your terms. You can use this "My CHIP Tools" section to find out if you and your home are eligible, how much money you could get, and how much equity you would have left in your home after the CHIP Home Income Plan was repaid.
EligibleAm I eligible?
Find out right away if CHIP is offered in your area and if you and your home qualify for a CHIP Home Income Plan.

How MuchHow much money could I get?
The amount you can receive up to 50% of your home's current appraised value. The exact amount available to you will depend upon a number of factors, including your age and the age of your spouse, the value of your home, where your home is located, and the type of dwelling. This tool will show much money you may be eligible to receive.

Future Equity Future Equity CalculatorFuture Equity Calculator
Use the Future Equity Calculator to determine how much equity could be remaining in your home when your CHIP Home Income Plan is repaid. The calculator predicts future market value of your home based on user-selected home annual appreciation rates.
CHIP provides an interest rate discount if you choose to pay your full annual interest. The interest rate discount is 0.50% and is factored into this calculation.



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

Sunday, July 15, 2012

Got 15 Minutes?







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

Saturday, July 14, 2012

More .......Good Reasons To Use A Mortgage Broker



Good reasons to use a mortgage broker

Owning a home is usually on a list of lifetime goals. And new home buyers usually have a lot of questions. Some worry about coming up with the down payment, some aren't sure about their credit scores, others are self-employed, and already know that it can be challenging to get credit at all.

These concerns and any other questions home buyers have can be answered by mortgage brokers. In fact, mortgage professionals are valuable resources who are often overlooked simply because they are not connected to a bank. In some regions, there is still a perception that brokers are last resort lenders. In fact, mortgage brokers have access to most lenders, including the banks, and are uniquely qualified to assist clients get into the best mortgage products.

Angela West, a first time home buyer in the North Bay area in Ontario decided to use a mortgage broker with her purchase, initially to get a better rate, but it turned out to be more than she expected.

"The process was very easy, much easier than dealing with the bank. My self-employment wasn't an issue, where it would have been with the bank. My partner has also made very different amounts of money in the past three years, even though last year was a really good year for him salary-wise, so that may have been an issue with the bank as well."

West also said it was clear to her that the broker took the time to get the best deal - the best product and the best rate. "I liked the fact that someone was on my side."

The whole experience was a positive one despite the perception some consumers may have. "I can see where some people may be concerned that a mortgage broker is less "legit" since they aren't working with established financial institutions, but it wasn't the case. I would definitely recommend using a mortgage broker."

Bud Jorgenson, Vice-President, Prairies Region for TMG The Mortgage Group said mortgage brokers have an edge with first time home buyers because of their knowledge about the home buying process.

"We fully understand every aspect of the deal, from Purchase and Sale Agreements, working with lawyers, home inspectors, and lenders, to closing processes and the costs associated with that, "he said. We understand title insurance, default insurance, mortgage protection insurance and we are knowledgeable about legal requirements for a variety of different properties. And because we fully understand it, we are there to help guide our clients throughout the whole process."

For Ian Syphus, who refinanced his home in Niagara Falls, Ontario to consolidate debt, the process was surprisingly easy and stress-free.

"The Broker did everything, --she prepared the paper work, found the best rates, clarified any concerns -- I just needed to sign," he said.

Syphus also liked that the broker went to his home. This is a big plus according to Gord Appel, Vice-President, Alberta Region for TMG.

Using mortgage brokers save valuable time for clients by eliminating the need to visit a variety of lenders and fill out multiple applications. Our hours are generally the client's hours and we can be mobile, which can certainly benefit busy families."

Follow up after financing was also an important factor for both West and Syphus. "I like the fact that I am always updated on rates via e-mail newsletters," Syphus added. "And there is constant contact even after the papers are signed - that's much more personable than banks."

This is a key reason clients will benefit from working with mortgage brokers, according to Gerald Krahn, Vice-President, and Ontario Region for TMG. "Brokers take time to listen to a client and do what's in their best interest, not only for the short term but will look at the whole picture 5, 10 years down the road. For example, when some banks came out with a 2.99% fixed rate, what consumers didn't know was there were certain restrictive conditions attached to those rates. When brokers quickly countered that with the actual facts, the result was a stronger relationship with clients."

Mortgage broker are continually focused on the industry and keep up-to-date on changes. "We are truly experts on all things mortgage-related," added Dan Pultr, Director of Sales, B.C. "However, our expertise is not limited to mortgages. We understand our local real estate markets. We also understand credit issues and ways to improve credit scores, with the end result of helping clients achieve their dream of home ownership.

Think Outside the Branch and visit us at www.mortgagegroup.com for more information.
Credit for this article goes to www.mortgagegroup.com The Mortgage Group Canada Inc.

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
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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, April 21, 2012

No downpayment-- read on

Stop Paying Your Landlord’s Mortgage! Own Your Own Home



The thousands of dollars in rent you’ve paid to your landlord may be a staggering figure— a figure you don’t even want to think about. Until now, buying a house hasn’t seemed possible; it didn’t seem to be in the financial cards for your foreseeable future. Or is it? This situation is common: countless people feel trapped their home rental, pouring thousands of dollars into a place that will never be their own—they think they’re unable to produce a down payment for a home in order to escape the rental dilemma. However, putting the buying process into motion isn’t as impossible as it may seem. No matter how difficult you believe your financial situation to be, there are a few key facts that can help you make the step from the renter’s rut, to your own home-owning paradise!
Initially, of course, the most daunting factor involved in buying a house is the down payment. You know you’ll be able to handle the monthly payments—you’ve done this, and possibly more, for years as a renter. The hurdle, instead, seems to be accumulating the capital needed to put money down. Here’s the good news - this hurdle may be smaller than you think. Take a look at the following points and explore whether any of these scenarios may be possible for you:

1. Find a mortgage broker to assist you with your options for accessing different lenders.
Mortgage brokers have access to more than just one lender, usually they deal with over 40. Some of those lenders will work with clients to get them into a house with various options available for down payment and closing costs.

2. Buy a home even if your credit isn’t top-notch
.
If you have saved more than the minimum for a down payment, or can secure the loan against other equity, many lending institutions will still consider you for a mortgage, despite a poor credit rating. And working with a mortgage broker we only obtain one credit bureau to save you rating from multiple inquiries.

3. Find a seller to assist you in buying and financing the home.
Some sellers may be willing to bear a second mortgage as a seller take-back. The seller then assumes the role of the lending institution, and you pay him/her the monthly payments, rather than paying the price of the home in a lump sum. This is an additional option if you have a poor credit rating.

4. Federal Government First Time Home Buyers Plan (HBP).
Canada Revenue Agency now allows first time home buyers to withdraw up to $25,000 from your RRSP contributions to put towards your home purchase. There are specific guidelines for this program which can be found at cra-arc.gc.ca.

5. Create a cash down payment without going into debt.
You may borrow the down payment from a loan or a line of credit. As long as you can service the repayment amount this is a viable option. You may also be gifted your down payment from a family member as long as it is genuinely a gift and it is in your account 15 days prior to the closing date. You may also have a co-signer on the application to increase the strength of your application for approval.
You now know, there are options. The next step is to educate yourself on what your own personal possibilities might be and how to follow through with this goal. You should be pre-approved for your mortgage before searching for a home. The process is free and doesn’t place you under any obligation. Its simple, you can be pre-approved over the phone! Once a credit application is submitted, you’ll receive a written pre-approval, which will guarantee you to a specific dollar range or mortgage amount. When you have the pre-approved mortgage amount, you’ll know the price range to look in. Make a commitment to break out of the renting rut. Start today! Call Angela to get started on buying your home!!!!!
www.mortgagegrp.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

Thursday, March 29, 2012

Reverse mortgages an income lifeline for some seniors

Reverse mortgages an income lifeline for some seniors

A great article. For more information, give me a call.

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

Sunday, March 11, 2012

CMHC--Buying a House




http://www.cmhc.ca/en/co/co_007.cfm

A video on buying a house and what to expect going through the buying process. The video is very general, so if you have any questions give me a call.




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

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

Saturday, February 11, 2012

10 Great Reasons For Using A Mortgage Professional







Thanks for viewing.


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