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Posts Tagged ‘Verico Designer Mortgages Inc’

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

 

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Hamilton Rental Properties, a Good Investment?

September 28th, 2009 No comments

Vacancy rates have declined in the past year, proving good sustainability and growth in the Hamilton area.

 

Bachelor

1 Bedroom

2 bedroom

3 bedroom +

Total

 

April 08- April 09

April 08- April 09

April 08- April 09

April 08- April 09

April 08- April 09

Hamilton

8.3% – 7.1%

4.0% – 3.6%

5.1% – 3.4%

4.1% – 2.7%

4.7% – 3.6%

 

 

In 2009, the vacancy rate in Hamilton is expected to edge lower to 3.0%

Demand for rental accommodation typically comes from youth households and other households who are not planning to own a home or have not yet saved enough for a down payment. Thus, it is important to take a look at the employment market by specific age groups and types of employment. Given that there are a number of post-secondary institutions in Hamilton, it is reasonable to expect that some of these young students who rent would also hold a part time job to supplement their living expenses. This year, part-time jobs among youth aged 15 to 24 increased 2.4 per cent.

At the same time, the labour force for this age group remained relatively unchanged from a year ago. This indicates that more youth are able to find a part time job and thus afford to be in the rental market.

Individuals usually at the First Time Home buyer stage are choosing instead to stay in the rental market until economic conditions improve.

If you were thinking about buying a rental property, now might be a good time to keep investigating the market trends.
If you are looking to finance a Rental Property contact Verico Designer Mortgages Inc. we are connected with a wide variety of lenders that can assist you in this matter.

Source: Canada Mortgage and Housing Corporation

http://www.cmhc-schl.gc.ca/en/hoficlincl/homain/stda/index.cfm

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Trouble Making Your Mortgage Payments?

September 1st, 2009 No comments

For most Canadians, your home is your most important investment. But owning a home also comes with a great deal of responsibility. When unforeseen circumstances impact your ability to meet your mortgage payments, it’s important to take quick action and contact your lender. With early intervention, your lender can help you fund a solution to your financial difficulties.

For mortgages insured by the Canadian Mortgage and Housing Corporation (CMHC), CMHC provides lenders with the tools and the flexibility they need to achieve a solution to your unique financial situation. Depending on your circumstances, this might include:

  • Converting variable rates into fixed to avoid sudden rate increases
  • Temporary short-term payment deferral.
  • Extending your repayment period to lower your monthly payments
  • Adding any missed payments to your outstanding balance
  • Arranging special payments unique to your particular financial situation


CMHC is also willing to consider other alternatives proposed by the mortgage professional to resolve or avoid mortgage payment default. In every case, the options available will depend upon your individual financial circumstances.

For more information visit: CMHC or contact me on 1.866.824.8057, and we can help guide you in the right direction.

Source: Canada Mortgage and Housing Company/Charmaine Idzerda, Verico Designer Mortgages Inc.

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