JuanitaMortgages – Page 6 – JuanitaMortgages

September 22, 2021June 20, 2024

How to Talk to Your Kids About Finances

A vast majority of parents are currently supporting their children (ages 18-35 years) financially, spending an average of $5,623 per year! This is an extensive additional cost that most parents cannot afford. In fact, over 30% of parents are seeing delayed retirement in order to help kids with post-secondary costs and are facing an inability or delayed timeframe in paying off their own debts.

As much as parents want to help their kids, it should not be done at the jeopardy of your own future. In fact, when it comes to teaching your children about money, there is no better time to start than now!

September 15, 2021June 20, 2024

Finding Your Perfect Home Type

When it comes to finding your perfect home, there are so many more options for potential homeowners! From a single-family dwelling to a townhouse to a modular home, the choices are seemingly endless. But, before you start widening your search, let’s take a look at what makes these home types different – and which one is perfect for you!

September 8, 2021June 20, 2024

5 Approval Roadblocks You Should Know

When buying a home, there is nothing worse than having your mortgage broker or lawyer call and say “there is a problem”.

If you have found your dream home and negotiated a fair price, and you have supplied all the documentation to your broker, you probably assume everything is fine. The reality is that your financing approval is based on the information the lender was provided at the time of the application. If there have been any changes to your financial situation, the lender is within their rights to cancel your mortgage approval.

To ensure that you don’t encounter any last-minute roadblocks on your home buying journey, there are five major things you must avoid for a smooth transaction:

August 31, 2021June 20, 2024

Alternative Financing and What You Should Know

When conventional lenders (such as banks or credit unions) deny mortgage financing, it can be easy to feel discouraged. However, it is important to remember that there is always an alternative!

If you’re seeking a mortgage, but your credit score is damaged in some way and big institutions won’t lend you the money, you’ll find yourself in what’s commonly referred to in the industry as the “Alternative-A” or “B” lending space.

August 17, 2021June 20, 2024

8 Steps to the Perfect Summer Social!

There’s something magical about summer and no matter where you live in Canada, backyard BBQ season is the perfect opportunity to spend a little time with family and friends. Nothing says party vibes more than food on the grill and summer drinks flowing. Whether you live in a country house, a suburban townhome or a city condo, gather your crew and these few essentials:

August 3, 2021June 20, 2024

Get the Scoop on Rental Properties

You might be surprised to learn that you don’t need to be one of the uber rich or make six figures to have a second property. You just need to have knowledge, determination and financial planning!

If you are purchasing a secondary property with the intention to rent, here are a few extra things to know:

July 21, 2021June 20, 2024

Backyard Renovation Ideas!

With summer underway, it might be time to consider a backyard upgrade! These don’t have to be luxurious or expensive, but a couple tweaks can give your yard a facelift and make your outdoor space feel brand new! Check out my backyard renovation ideas below:

July 14, 2021June 20, 2024

Avoid These First-Time Homebuyer Mistakes

As a first-time buyer, I am here to give you some tips on homebuyer mistakes to be on the lookout for so you can avoid them for the best experience possible!

Thinking You Don’t Need a Real Estate Agent

You might be able to find a house on your own, but there are still many aspects of buying real estate that can confuse a first-time buyer. Rely on your agent to negotiate offers, inspections, financing and other details. The money you would have saved on commission can be quickly gobbled up by a botched offer or overlooked repairs.

July 7, 2021June 20, 2024

Changes to the Stress Test and What You Need to Know

As you may have heard, the Bank of Canada recently changed the stress test rules as of June 1, 2021. With these changes, now both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage.

The new qualifying rate on uninsured mortgages – where the down payment is 20% or more – is now the contracted rate plus two percentage points or 5.25%, whichever is higher.

June 29, 2021June 20, 2024

Real Talk: Mortgage Penalties

When it comes to mortgages, it is easy to focus on the rates and your current situation, but the reality is that life happens and when it does, rates won’t be the only thing that matter.

At the end of the day, a mortgage is a contract between you (the homeowner) and the bank. As such, there are often penalties involved if the contract is ever broken. This is something that every homeowner agrees to when you sign mortgage paperwork, but it can be easy to forget – until you’re paying the price. These things do happen as approximately 6 out of 10 mortgages in Canada are broken within 3 years. Should your circumstances change, knowing the next steps can help you navigate the process.