MORTGAGES
“Owning a home is a keystone of wealth (that provides) both financial affluence and emotional security.” Suze Orman
Home Purhcase
The purchase of a home is the largest purchase most people make during their lifetime. The One Source Financial in partnership with Dominion Lending Centres, want to make each and every purchaser aware of the many mortgage options available to them prior to their purchase and closing date.
Whether you are first-time buyer or an experienced buyer with excellent credit, we have access to the very best products and rates available across Canada. Give Pauline, our mortgage specialist a call, we think you'll be pleasantly surprised!
Pauline@TheOneSource.ca or call 905-361-9170 x102
REFINANCING
Canadians today face many reasons to refinance their mortgage. For example, you may be looking to consolidate debt, want to keep your payments stable by refinancing from a variable rate mortgage to a fixed-rate mortgage, or maybe you have been working at improving your credit score and now qualify for a greater discounted mortgage rate. Refinancing is also a good option to pull out equity for home improvements, investments, college expenses, and more. To find out if refinancing is the right option for you, connect with Pauline.
Pauline@TheOneSource.ca or call 905-361-9170 x102
MORTGAGES RENEWAL
While most Canadians spend a lot of time, and expend a lot of effort, in shopping for an initial mortgage, the same is generally not the case when looking at mortgage term renewals. By omitting proper consideration at the time of renewal, this practice costs Canadian citizens thousands of extra dollars every year. Nearly 60% of borrowers simply sign and send back their renewal that is first offered to them by their lender without ever shopping around for a more favourable interest rate.
Homeowners should never accept the first rate offer from their existing lender. Without any negotiation, simply signing up for the market rate on a renewal is unnecessarily costing the homeowner a lot of money on their mortgage.
Generally it is a good idea to start shopping for a new term between four and six months before your current mortgage term expires. Many lenders send out your renewal letter very close to the time that your term expires and this does not give you ample time to arrange for a mortgage term through a different lender. This means that you need to be tracking your own mortgage term timeframe and know when it is time to start shopping for a good mortgage renewal rate.
Before you even hear from your lender about renewing your mortgage term, have a our mortgage professional shop around for you, you will be amazed at what they can accomplish on your behalf! Your mortgage is one of your biggest expenses. For this reason it is imperative to find the best interest rates and mortgage terms you possibly can. By shopping around at renewal time you can save substantial amounts of money over the life of your mortgage loan.
Don't be one of the 60% who just simply sign their renewal letter and send it back. Use our services of to ensure the lenders compete for your business. Talk to Pauline.
Pauline@TheOneSource.ca or call 905-361-9170 x102
ABOUT HOME EQUITY
Canadians purchase homes for a variety of reasons. Some want the stability of owning their own home, while others also look at home ownership as an investment vehicle. No matter what the reason, the truth is that home ownership has proven itself to be a good stable investment over time, and one which many Canadians are profiting from.
While many people have chosen to purchase their first home during these times of lower interest rates, there has also been a large movement to refinance home loans and pull out equity for home improvements, investments, college expenses, and even high interest debt consolidation. Canadians have been borrowing against their home's equity in record numbers, taking out billions of dollars in cash each year.
In years past, many saw their homes as a shelter of safety, yet today, they are more than ever before, willing to borrow against the equity owned in their homes to further their investment portfolios, get out of debt, send their children to university, make improvements to their home, or even boost their RRSP contributions. Where home equity was once sat upon, today it is often used to one's advantage.
While removing equity from your home can be a good idea, you should do so with caution and fully understand the benefits and possible risks. The best thing you can do is to consult with our mortgage professional and financial planner to discuss opportunities to make your home's equity work for you.
Contact Pauline now. Pauline@TheOneSource.ca or call 905-361-9170 x102
Commercial Mortgages are designed for businesses and investors who wish to purchase or refinance commercial, income producing properties and offer a flexible way to raise capital. Some common commercial mortgage products provide funding for:
- Income properties
- Multi-residential properties
- Bridge financing
- Restaurants
- Industrial properties
- Office properties
- Self storage
- Retail malls
- Raw land financing
- Start ups financing
- Debt consolidation
Need a solution? Connect with Pauline now. Pauline@TheOneSource.ca or call 905-361-9170 x102
