Smart Spending Strategies

Average Resale Price for Local Markets

New Rate Sheet for July 22 2011

New low 5 Year Fixed

Our best 5 year fixed is 3.64% but wait....we can do even better than that, but unfortunately those are unpublished specials that I can not advertise. So you must call to find out what they are.

Licensing of Home Inspectors

Licensing of Home Inspectors

Effective September 1, 2011 all Home Inspectors in Alberta will be required to have a license. CAHPI Alberta has been lobbying the Alberta Government for several years to implement regulations for Home Inspectors in Alberta and are pleased that it has become a reality. The current regulations have established a minimum level of education and experience. Registered Home Inspectors (RHI) and Associates with CAHPI - Alberta surpass the Government required levels.   To find a home inspector in your area visit: http://cahpi-alberta.com/FindAnInspector.aspx

Borrowedd Downpayment

Flex Down – Borrowed Funds

Target Client:

Despite having good credit, you have not been able to save up the required down payment. Clients can borrow the required down payment from a LOC, credit card or other source. Payments on borrowed funds must be included in TDS.

Advantages:

• Gives clients up to 95% financing
• Down payment will not be amortized with the mortgage, potentially saving money in interest charges
• Both fixed and adjustable rates are available

4 Payment Frequencies (Monthly, Semi-Monthly, Bi-weekly, Weekly)

Full Prepayment Privileges 

 

This is just one of the products I offer to better meet client needs, today!

Buying a cottage and keeping the peace

As summer approaches thoughts start turning to lapping waves, crackling campfires and tranquil forests. It’s the time of year when cottage, cabin or beach house fever starts to take hold.   

But the sunny dream of owning a vacation home may be dampened by the reality of property prices in many of Canada’s popular vacation destinations, plus the usual homeownership expenses such as a mortgage, utilities, and taxes.  Sharing these costs, along with joint ownership, can be ways for families or friends to buy a place that still feels like their own. 

However, before making the leap into co-ownership of a vacation property, buyers must be sure that they really understand the ins-and-outs of sharing a vacation property.  

“Before deciding to split the purchase with relatives or friends, having the right mix of personalities is key to a long-lasting arrangement,”  “You and the other owners will have to decide jointly on everything, from when maintenance or urgent repairs need to get done, to shopping for common supplies.”  

 Considering the following questions as a group before moving forward: 

Does owning a vacation property fit your lifestyle?

In addition to the fun and leisure aspects of a vacation home it is important to factor in the time and cost involved in year-round upkeep. How will the property be used? If your dream is to own a ready-to-live-in relaxing hideaway while your co-owners dream of a northern DIY project, you may not see eye-to-eye when it comes to how you will be spending your weekends. 

It’s important to think carefully about how much time you and your co-owners plan to spend at the vacation property. Will you be vacationing as a group, or do you want to trade off on weekends? Will one use the property more than the other? Will it be a 50/50 split? 

Have you thought about what’s involved before you put it up for rent?

Did You Know?

Did you know…

75% of buyers feel it is very important to pay off their mortgage as soon as possible. 39% have their payment set higher than the minimum required, and 20% have made a lump sum payment since obtaining their mortgage. (2011 CMHC Mortgage Consumer Survey)

Purchase Plus Improvements

Summer is here and customers are looking to upgrade. Why not consider a purchase plus improvements program. This program is great especially for those who found the home of their dreams in a great neighbourhood but it needs work.

 Improvements available up to 10% of the purchase price

- C  Contractor quotes must be submitted with application

Cosmetic upgrades (flooring, paint, kitchen, bathroom, basement development etc.)

Also receive  Home Service Warranty and My Mortgage online

New Rates & Promotions

1.  5.5%* Promotional Cashback Program until September 2^nd, 201. Use the equity in your home to lower your monthly payment plus get cash back.

2. New low rate, 5 year fixed at 3.69%. But wait, with increasing competion and the introduction of a new lender I can do better than that. But unfortunately, the lender does not allow me to advertise it. So you must call me in order for me to tell you the best possible rate available.