13 Mar

Get your facts straight

General

Posted by: Sean Smith

  The BMO 2.99% “No frills” 5 year fixed rate will end up costing you more money in the end.   Consider this, the majority of Canadians that take a 5-year fixed mortgage end up switching and/or adding to their mortgage prior to maturity. There are endless reasons for this, including:   Upsizing, job loss, […]

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29 Apr

Quick Tips for Boosting Credit

General

Posted by: Sean Smith

In today’s economic climate of tighter credit requirements and increased unemployment rates taking their toll on some Canadians, there’s no doubt that many people may not fit into the traditional banks’ financing boxes as easily as they may have just a year or two ago.   Your bank or Mortgage Broker can help you determine […]

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25 Apr

Major Bank Announces Rate Hike to Variable Mortgage Rate

General

Posted by: Sean Smith

Important news for those getting new mortgages! We have been personally informed by telephone conversation that  effective tomorrow at 9 am One of Canada’s  five major banks is increasing their rate on the variable mortgage to .5% off prime from .75% off prime. We don’t know if other lenders will follow suit but there is […]

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14 Mar

Decision Time

General

Posted by: Sean Smith

    This letter is directed towards anyone who owns a home, or is looking to buy a home in the next couple of months.   After this Friday the new mortgage rules take effect.   The maximum amortization period (the length of time you have to pay back your mortgage) will be reduced from […]

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16 Feb

So you are considering buying your first place in Toronto?

General

Posted by: Sean Smith

    FIRST TIME HOME BUYERS Having so many friends that are so close to purchasing their first home, it only makes sense to share with you what is involved in this exciting process.     1. Be definitive about buying  (i.e. Decide you are going to buy a home)     2. Get qualified […]

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9 Feb

New Mortgage Rules

General

Posted by: Sean Smith

  Hello Everyone,   Did you know effective March 18, 2011   –         The maximum amortization period (the length of time you have to pay back your mortgage) will be reduced from 35yrs to 30yrs for new mortgages with less than 20% as a down payment. – This means that mortgages will be more expensive […]

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8 Feb

Rising Interest Rates

General

Posted by: Sean Smith

As a Mortgage Agent I like to keep everyone informed on changes in the mortgage industry that could affect you.   The situation Yesterday TD Canada Trust raised their interest rates. This week, other institutional lenders will be following their lead.   The opportunity ING is one of the leading financial institutions in Canada. They […]

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7 Feb

Who is a Mortgage Agent, and what do they do?

General

Posted by: Sean Smith

I realized recently, when talking to someone very close to me just how misunderstood my profession was. This friend knew I was a Mortgage Agent, but thought we only worked with people who had bruised credit and had no idea that I represent all the major banks. As much of my business comes via referrals […]

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