Archive for the ‘Mortgages’ Category

Boost the value of your home with strategic updates

August 11th, 2015 No comments

painting(NC) Selling a home can be stressful. Between the constant cleaning and scheduling for countless showings, homeowners also want to make sure they get a fair price for their pride and joy.

“Not all sellers have a huge budget to revamp their homes prior to selling,” says Nancy Peterson, home design expert. “But there are always things that can be done in advance of listing it to increase interest among potential buyers. A few simple changes can make a big difference.”

Here are some of Peterson’s ideas to increase the value of your property:

• Small Projects: A fresh and neutral coat of paint, basic staging and newly mowed lawn can go a long way. Remove any overly personal items and clutter, so the potential buyers can imagine their own belongings in the home. Also consider adding a few chic updates like crisp new linens, a statement chandelier or sparkling bathroom mirror to make a lasting impression. Whether you do it yourself or hire a professional, this is a must for any seller.

• Medium Projects: With strong demand for open concept living, consider removing any non-structural walls for a more flexible space. Refresh cabinetry with new hardware and tile floors with fresh grout. Outside, work on the curb appeal of your home with any necessary landscaping that you may have been putting off, including sealing your driveway, staining your porch or deck, power washing the exterior and refinishing the front door.

• Large Projects: Kitchen and bathrooms offer the best return on investment, so if yours is outdated, it’s time to get an upgrade. Replace old tubs, toilets and sinks in the bathroom and update your kitchen appliances with modern stainless steel options and new countertops. There’s also no better time to switch out any wall-to-wall carpet for a more buyer-friendly laminate or hardwood option.

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Hamilton Homeownership Down Payment Assistance Program

March 30th, 2015 No comments

Deciding Whether To Buy Or RentToday the City of Hamilton has launched a program to help residents with the Downpayment to purchase their own home, in order to apply you will require a mortgage pre-approval. To find out more about this program and/or to obtain a pre-approval please contact Verico Designer Mortgages Inc. We will help you complete the necessary paperwork.



January 14th, 2015 Comments off

Oil price vs interest rateShort answer is Yes. Since oil is a major part of the Canadian economy, lower oil prices means less royalty money for the government.   Due to the lower oil price, the Alberta oil patch is likely to cut production which would mean job losses. When determining interest rates, unemployment is one of the key indicators the government watches.   Bad news in the economy tends to mean good news for interest rates, meaning it exerts pressure on the Bank of Canada to reduce the prime lending rate (which affects the variable rate) additionally. The impact on the GDP will hold down the government bond yields which affects the fixed mortgage costs.

For now it does not look like we will be facing rate increases for variable or fixed rate mortgages!

January 8th, 2015 – Designer Mortgages Inc. copyright.


Why use a Mortgage Broker!

October 30th, 2014 No comments
Probably one of the most frequent question that I get asked, is why use the services of a mortgage broker. To list a few:
They understand mortgages terms and conditions, some mortgages unbeknown to the client are registered in a certain way which restricts you moving your mortgage in the future. Some mortgages have got higher penalties.
I see my job as knowing these restrictions and steering my client away from these mortgages. Here is a video to further explain!

Call Now for help with your Mortgage!
Burlington 905 336-5997
Milton 905 878-5053



Teach kids early about money responsibilities

October 3rd, 2014 No comments

calculatorMany of us agree that it takes decades, if not a lifetime of trial-and-error to master sound money management – so let’s make it easier for our kids. November is Financial Literacy Month across the country and that presents an ideal opportunity for families to explore ‘teachable moments.’

“Attaining financial literacy is often one small step at a time, but each experience adds to our knowledge, skills, and confidence with day-to-day money decisions,” says Tony Garcia, president and CEO at ForestersTM, an international financial services provider known for its commitment to enhance family well-being. “Those skills are fundamental to the well-being of families – and of course, children do learn quickly by example.”

Since the average lifestyle today must deal with an increasing number of financial decisions at an ever-younger age, it is an eye-opener when Canadians admit to significant money challenges from reading financial statements, to managing credit cards, to planning for retirement.

Did you know, for instance, that 38 per cent of households say they do not follow a budget, according to an ABC Life Literacy survey conducted by Ipsos Reid1? This number won’t improve if children in those homes grow up to do the same.

“Parents are exacting on some things, like arranging for life insurance to replace lost income in the event of their death, but they may miss those little opportunities, like involving children in adding and subtracting household money,” Garcia continues. “The key to raising money-smart kids is to involve them in some of the day-to-day money decisions.”

Foresters, which provides its members with access to competitive scholarships and emergency assistance grants2, and is also known for building playgrounds and providing funding and volunteer opportunities for organizations like Ronald McDonald House Charities®, has posted some valuable tips (at for guiding children towards healthy financial habits, including:

  • Talk to young kids about the family grocery budget in the supermarket
  • Link their allowance to household chores so it shows the connection between money and work
  • Explain to teens the difference between needs and trendy ‘must-haves’
  • Ask for a contribution to their expenses (like cell phone bills and sports) if your teen has a part-time job
  • Demonstrate caution with a first credit card, explaining how interest is charged and the consequences of not paying the monthly balance
  • Show young adults how to manage their cash flow and stick to a monthly budget
  • Clearly define the repayment terms and conditions if you make them a loan.