Jeff & Michelle Barr Broker & Sales Representative
Experts Questions and Answers
Mar 5
2010
posted by Frances to Cory Kline, AMP :
Views (78)
Frances, I have looked at 5 options for you. It does not appear that you could choose a mortgage term with our current rates, that would end up costing you less then your blended 4.84% mortgage. I looked at options using 3.29% for 3 years, and 3.69% for 5 years. If anyone tells you otherwise, I... [ more ]
Mar 1
2010
posted by Kent Hau to Cory Kline, AMP :
Views (74)
I have advised and helped other clients in Barrie, who work in the North American film sector, with obtaining a preferred mortgage offer.
I would be happy to get you an approval based on your self employed income. If you could aim for a 20% down payment, we could likely get you an excellent... [ more ]
Feb 16
2010
posted by Jeff to Joanne McPhail :
Views (141)
Sorry this has taken me so long - I was away on vacation last week! You may have already proceeded, but yes, it is typical to make an offer conditional upon solicitor's approval - I can usually review and comment on an offer within 1 business day but it's nice to have 2 just in case. ... [ more ]
Dec 20
2009
posted by Carolyn to Joanne McPhail :
Views (504)
Hi! It is a good idea to have your lawyer review your offer. There is usually not an additional cost to this, if you are using the lawyer for the transaction, unless he/she is required to get involved with negotiations or major changes to the Agreement. Usually, this is not the case, as the agent... [ more ]
Nov 26
2009
posted by Terry LeClair to Cory Kline, AMP :
Views (743)
Reason #1 Your long-term plan and risk tolerance should determine which mortgage product is right for you. This product may or may not have the lowest rate. For instance, there are cases where lenders will offer lower rates for insured mortgages. With insured mortgages, however, you're charged an... [ more ]
Nov 20
2009
posted by Mike Jeffrey to Cory Kline, AMP :
Views (660)
Reason #1 Your long-term plan and risk tolerance should determine which mortgage product is right for you. This product may or may not have the lowest rate. For instance, there are cases where lenders will offer lower rates for insured mortgages. With insured mortgages, however, you're charged an... [ more ]
Sep 30
2009
posted by Cory to Cory Kline, AMP :
Views (776)
If there is ‘one’ thing that causes problems that can delay the closing of your house it’s verification of the Down Payment. Here’s why:
To meet the Requirements of CMHC or GE, On or before the issuance of a lending commitment you will be asked to provide... [ more ]
Sep 30
2009
posted by Cory to Cory Kline, AMP :
Views (792)
If you are applying to be preapproved for a mortgage, you should start to gather:
A letter of employment: Have your employer give you a letter on company letterhead outlining your name, position, gross annual income, and number of years employed with the company.
If you are self-employed,... [ more ]
Sep 30
2009
posted by Cory to Cory Kline, AMP :
Views (758)
Each purchaser may borrow up to $25,000 from their RRSP under the Home Buyers’ Plan. (The funds must have been in the RRSP for at least 90 days prior to withdrawal to be eligible under the program)
Provided you buy or build a qualifying home and meet all of the conditions for making a... [ more ]
Sep 30
2009
posted by Cory to Cory Kline, AMP :
Views (804)
Mortgage Broker's are compensated from the lender, (not you, the borrower). Mortgage Brokers are only paid when they have successfully completed helping their clients. They are therefore motivated to help you. When creative, specialized, or difficult mortgages are... [ more ]
Sep 29
2009
posted by Cory to Cory Kline, AMP :
Views (691)
Mortgage insurance helps protect lenders and mortgage investors from severe financial losses in case a loan is not repaid for any reason. This insurance benefits lenders and investors, but it helps homebuyers, too. Because lenders are protected by mortgage insurance, they are willing to offer... [ more ]
Sep 21
2009
posted by Cory Kline to Cory Kline, AMP :
Views (605)
Reason #1
Your long-term plan and risk tolerance should determine which mortgage product is right for you. This product may or may not have the lowest rate.
For instance, there are cases where lenders will offer lower rates for insured mortgages. With insured mortgages, however, you're charged... [ more ]
Sep 11
2009
posted by Cory to Cory Kline, AMP :
Views (738)
Many lenders have identified that people who are self employed have troubles trying to verify how much money they actually earn. With as little as 1 year of self employment, some lenders have special programs that allow you to purchase a home with limited verification of your income, provided you... [ more ]
Sep 11
2009
posted by Cory to Cory Kline, AMP :
Views (690)
A 35 year mortgage can help you manage your payments, and get you into a home that suits your needs. However it is a very important that you ensure your mortgage comes with flexible pre payment options that will allow you to pay off the mortgage quickly without penalty. When choosing a lender for... [ more ]
Sep 11
2009
posted by Cory to Cory Kline, AMP :
Views (660)
Most clients speak to their bank about getting a pre approval, but it has become good practice to get a second opinion from a Mortgage Broker, who is an accredited mortgage professional. The reason is simple, at no fee to you, a Mortgage Broker can give you access to over 50 Canadian Banks... [ more ]
