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Tips for FTHB 🏠

Mortgage selection tips 📌 Swipe right 👉

🔵 Explore mortgage options: A variety of mortgages are available with varying down payment and eligibility requirements.

🔵 Research FTHB assistance programs: The Government of Canada has three programs to assist first-time home buyers – the Home Buyers’ Amount tax credit, the Home Buyers’ Plan (HBP), and the First-Time Home Buyer Incentive.

🔵 Compare mortgage rates and fees: A mortgage agent has access to many different lenders and products, and only one application is needed to negotiate.

🔵 Get a pre-approval letter: A mortgage pre-approval is a lender’s offer to loan you a certain amount under specific terms.

This process doesn’t have to be stressful, let us take care of it.
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📲 (647) 250-9911
[email protected]

If you’re a homeowner, chances are you know that building equity in your home is a good thing. However, it may be hard to understand what home equity is and how it can help you reach your financial goals.

So, what is home equity?🏠
Home equity is the difference between the value of your home and how much you owe on the mortgage.

How to calculate your home equity ➗

The value of the property - the balance remaining on your mortgage = home equity
For example, let’s say your home is worth $600,000 and you owe $200,000, your home equity is $400,000.

What can you use your home equity for? 💰
You can tap into your home equity to meet your other life goals. Such as paying for your kids’ college/university, renovating your home or to buy second property or a cottage. Most of the time, you’ll pay less to borrow your home equity than you would if you were to get a line of credit or a regular unsecured loan.

Using home equity to buy a second property 🏘️
If you’ve considered buying a rental property, a second home or a cottage, your home equity can help you with the down payment, reducing (or even eliminating) the mortgage you take out for your next property.

Whether you’ve been working hard to pay off your mortgage early, or you have owned your home for several years and the property value has increased, this means you’ve been building up a good amount of equity in your home.
Have questions about unlocking the equity in your home? My DM’s are open!

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📲 (647) 250-9911
[email protected]

Is there is such a thing as paying your mortgage faster. The faster you pay off your mortgage, the less you will pay in interest, and it will reduce your overall loan cost. However, you should look at your full financial picture to determine if its worth paying off faster.

These are a few ways you can pay off your mortgage faster:
1️⃣Make additional mortgage payments - You can do this by increasing the amount of your payments, or making a lump-sum payment on top of your regular mortgage payments.
2️⃣Keep your payments the same when changing your mortgage - When you’re up for a renewal you may be able to get a lower interest rate. However if you decide to keep your regular payments the same, you can pay off your mortgage faster.

3️⃣Choose an accelerated option for your mortgage payments - This way you can make payments on a weekly or bi-weekly basis. With this option, you’re putting more money toward your mortgage than with a monthly payment and can even save money on interest charges.

Whether or not you decide to pay off your mortgage faster by making additional mortgage payments, keeping the same mortgage payments, or choosing an accelerated option when it’s up for a renewal, it’s important that you understand whether those savings are beneficial for you in the long run. Whether paying off a mortgage faster makes sense is decided on a case-by-case basis.

Feel free to reach out via DM If you have any other questions, I’m always happy to help.
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📲 (647) 250 9911
[email protected]

Here goes…

My wife and I have been head down putting together an updated Ultimate First Time Home Buyers Guide.

I noticed that I was getting a lot of similar questions from my clients that are first-time home buyers. I thought it would be helpful to consolidate the most frequently asked questions and take the opportunity to update our First Time Home Buyers Guide.

Everything in here is based on questions that my clients have been asking!

Believe me, I get it, you don't have time to read pages upon pages of information, so I really focused on distilling it down to what we thought was most important and kept coming up most often.

Here’s what it covers:

1️⃣ What you need to know before you get started on your application

2️⃣ Key insights to help you during your application process

3️⃣ Critical tips to ensure you seal the deal and what you can expect

I'm excited to share this with you and genuinely hope it helps.

Whether you’re a that wants to help their clients feel more confident in their journey and share this guide with them or a yourself, this guide will help.

Here's a link to get your copy: https://onlysimple.lpages.co/fthb-guide-landing-page/?utm_source=social&utm_campaign=fthbguidelp