Kroemer Mortgages @ Comox Valley BC on Vancouver Island

http://www.naylornetwork.com/caampdirectory/SearchResult.asp?Lang=&con=angela+kroemer&mem=AMP

#1 Tip for Consumers Looking to Get a Mortgage

Work with an AMP.

Accredited Mortgage Professionals

CAAMP (Canadian Association of Accredited Mortgage Professionals) requires that all members with the AMP designation receive ongoing education on industry best practices, government rules and changes, and etc. to help you navigate the mortgage process with integrity, responsibility and ease.

How do I know if my mortgage person is an AMP?

Usually they have AMP beside their name.

You can ask them.

You can go on CAAMP's website and search their name.

By clicking on the link above you will find my name, my phone number and my website.

Above my name you will find a header search by person, then type the person's name and scroll to AMP.

Similarly, you can find out if your mortgage person is a member of CAAMP, or if they are a AMP Residential Specialist or an AMP Commercial Specialist.

CAAMP also has a wealth of information for you, the mortgage consumer.

http://mortgageconsumer.org/index.php

For More Information On Mortgages, Click here.

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

akroemer@mortgagegroup.com

www.KROEMERmortgages.com

Facebook Pages

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

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

https://www.facebook.com/akroemer

Facebook Pages

Monday, September 3, 2012

Your Personal Mortgage Shopper

A mortgage professional, in theory, is educated in all aspects of mortgages. By working closely with one, you access this specialized knowledge and experience.

Imagine if you could turn to an expert when you wanted to make a major purchase. He or she would visit stores, collect the important information about the product and then help you make the best choice. When you’re buying a new home or renegotiating your mortgage, this is what a mortgage professional can do for you.

Basically, we shop around and find you the best deal. When you walk into your bank to discuss mortgage options, the banking officer can only offer you the products from that bank and, depending on your credit history and the product, knock a few points off the interest rate. But a mortgage professional has access to a wide variety of products because he or she can work with any bank, credit union or trust company. They also know who is offering the best rates for the type of mortgage you need and know how to negotiate for a lower posted rate.

A mortgage professional, in theory, is educated in all aspects of mortgage. By working closely with one, you access this specialized knowledge and experience. This is especially valuable for those who have hard-to-place mortgages—such as the self-employed or people with poor credit history. A mortgage professional will know what banks will be more favourable to the client or be aware of alternative ways to secure a mortgage.

Another benefit is the reduced impact on your credit score. Every time you go to a bank and they check your ability to get a mortgage, it’s a hit on your credit score. A mortgage professional will check your credit score once and then shop it to five or more banks at once. If you do plan to comparison shop, this is one way to protect your credit from taking an unnecessary dive.

But how much will all this cost a homebuyer? Brokers are paid a “finder’s fee” — about 0.8 per cent to 1 per cent of the mortgage amount — by the bank or institution, which is not passed on to the person buying the mortgage. The bank can afford to do that because of the volume they get. Since they don’t have an in-house person managing the account, answering questions, taking calls and sending paperwork back and forth, they save on costs and pass that on.

With so many mortgage professionals on the market, it can be a challenge knowing which one to pick. Ask friends and family for recommendations and meet with potential mortgage professionals to see if they are a fit. Follow blogs and websites of mortgage professionals. Ask lots of questions.

For Mortgage Information

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

https://www.facebook.com/akroemer

Facebook Pages

Published on Thursday August 30, 2012

Leigh Doyle

Chris Young for The Toronto Star

Wednesday, August 22, 2012

Mortgage Check Up?

So why have a Mortgage Check up?
The main reason is so you are not spending money on your mortgage that you do not have to.

Mortgage rates are low - lower than they've ever been. Now is the perfect time to refinance your home so you'll be mortgage free sooner and save thousands of dollars taking advantage of the low rates.

If you have a mortgage of $120000.00 and are paying 3.89%, with 25 year amortization your monthly payment would be $624.08 or close to that.

If your mortgage is $120000.00 and you are paying 3.29% with 25 year amortization your monthly payment would be about $589.50 .

So in a year your savings would be about $415.00, which equals a few nights out in a nice restaurant, or maybe 2 nights in a hotel room. It is money you are giving to your bank when you could take advantage of it and enjoy and have fun with it yourself.

Now if your interest rate that you are paying is more than 3.29% the savings are higher. You could afford a small vacation, new furniture or new appliances, without changing anything except for your mortgage rate.

Now is the time to get your Mortgage Check Up , while the rates are low.

Call Today !!!!!!!!!

1.250.650.4182

Thank you
Angela Kroemer, AMP
Mortgage Professional
250.650.4182
1.888.679.0190
akroemer@mortgagegroup.com
www.KROEMERmortgages.com
TMG The Mortgage Group Canada Inc.

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

http://www.virtual-strategy.com/2012/08/04/smi-mortgages-experts-stress-importance-choosing-broker-current-canadian-mortgage-environ?page=0,0

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

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