Costly
Reno’s or Upgrades Solved Here | ||||||||||
| ||||||||||
Good day!!! Is your house outdated? Is it
in need of costly repairs? Or is there something you could do to it to make
it the perfect house? In this crazy real estate
market it has become unrealistic for prospective home buyers to sell their
homes and buy something else. The reality is, you can sell your home easily
but the problem is finding something comparable in this market to buy. There
is a lack of inventory which is driving house prices to all time highs. Why don’t you consider my Refinance Plus Improvements Program? Below are just 5 things for
you to consider.
If you are interested in this
product you should contact me right away. I can help you figure out how much
you can borrow. Contractors are starting to book up for the upcoming season
of renovations and upgrades. If you think this information could help out a friend or a
family member, I would really appreciate it if you would forward this email
or provide them with my contact information. I will look after them as if
they were a friend or family member to myself. | ||||||||||
| ||||||||||
Phone
/ Text 403-828-1838 Email: mortgages@shawnmooney.com Website: www.shawnmooney.com | ||||||||||
Some conditions may apply. Rates are subject to change. Subject
to lender / insurer approval. |
Showing posts with label refinance. Show all posts
Showing posts with label refinance. Show all posts
Tuesday, April 5, 2022
Costly Reno's or Upgrades Solved Here!
Monday, October 24, 2016
Mortgage Rate Update | Shawn Mooney | Bayfield Mortgage Professionals Ltd.
As always, you can keep updated on current interest rates at www.shawnmooney.com/rates
Shawn Mooney |Bayfield Mortgage Professionals Ltd.
Broker of Record
Your Mortgage Broker for Life
Bus. # 403-945-8769 | Mobile # 403-828-1838
Email: mortgages@shawnmooney.com
Website: www.shawnmooney.com
Thursday, October 20, 2016
Bank of Canada Rate Announcement
Bank of Canada leaves overnight lending rate unchanged
Really no surprises here. The bank of Canada decided yesterday to leave the overnight lending rate the same. Originally I was going to give you a bunch of statistics but at the end of the day you probably don't want them. If you do go to this link.
Really no surprises here. The bank of Canada decided yesterday to leave the overnight lending rate the same. Originally I was going to give you a bunch of statistics but at the end of the day you probably don't want them. If you do go to this link.
http://www.bankofcanada.ca/2016/10/fad-press-release-2016-10-19/
Basically, due to the current economic state of our country it has been decided that it would be best for the overnight lending rate to stay the same. I don't foresee any changes to this rate until at earliest 2017. With that, it is my opinion that variable rates are a pretty safe bet. It is possible that variable rates could rise due to upcoming rule changes.
Now on to fixed interest rates, recent changes to the rules for Canadian Mortgages are now in effect making it more difficult for people to qualify for the purchase of a home with less than 20% down. As you may have heard there will be further restrictions that will come in to play in November. That is important because some of the restrictions that will be imposed on to the lenders are going to increase costs which in turn will be passed on to you. Fixed interest rates will be on their way up when these rules changes take effect.
As always.. for more information please don't hesitate to contact me.
Save the Date
Basically, due to the current economic state of our country it has been decided that it would be best for the overnight lending rate to stay the same. I don't foresee any changes to this rate until at earliest 2017. With that, it is my opinion that variable rates are a pretty safe bet. It is possible that variable rates could rise due to upcoming rule changes.
Now on to fixed interest rates, recent changes to the rules for Canadian Mortgages are now in effect making it more difficult for people to qualify for the purchase of a home with less than 20% down. As you may have heard there will be further restrictions that will come in to play in November. That is important because some of the restrictions that will be imposed on to the lenders are going to increase costs which in turn will be passed on to you. Fixed interest rates will be on their way up when these rules changes take effect.
As always.. for more information please don't hesitate to contact me.
Save the Date
The Bank of Canada's next meeting date is scheduled for December 7th, 2016.
Buy a House in Calgary Now
Average List Price: $571,504
Active Listings: 15,756
Recently Sold Properties: 1,895
Annual income required:$109,742.59
Based on minimum down payment. O.A.C. For Information purposes only.
**To see what you qualify for contact me**
Buy a House in Airdrie Now
Average List Price: $430,211
Active Listings: 249
Recently Sold Properties:
Annual income required:$79,875.29
Based on minimum down payment. O.A.C. For Information purposes only.
**To see what you qualify for contact me**
Average List Price: $571,504
Active Listings: 15,756
Recently Sold Properties: 1,895
Annual income required:$109,742.59
Based on minimum down payment. O.A.C. For Information purposes only.
**To see what you qualify for contact me**
Buy a House in Airdrie Now
Average List Price: $430,211
Active Listings: 249
Recently Sold Properties:
Annual income required:$79,875.29
Based on minimum down payment. O.A.C. For Information purposes only.
**To see what you qualify for contact me**
Shawn Mooney |Bayfield Mortgage Professionals Ltd.
Broker of Record
Your Mortgage Broker for Life
Bus. # 403-945-8769 | Mobile # 403-828-1838
Email: mortgages@shawnmooney.com
Website: www.shawnmooney.com
Tuesday, October 18, 2016
Private Mortgage FAQ
Private lenders have become increasingly important in mortgage financing. In recent years there have been many changes to the rules which affect the way banks and trust companies can lend. These changes have ultimately led to tougher guidelines which have impacted borrowers in a big way. These days it is really important to have private lenders who can help especially when your bank cannot.
Here at Bayfield Mortgage Professionals Ltd., we have our own in house lenders which are considered private lenders. We manage a huge amount of money on behalf of these privates. If for some reason one of our in house lenders cannot help we have a large network of other private lenders who might be able to lend money.
Private lenders for the most part are not focused on credit or income. Their main focus is house equity lending. So with this, if you have sufficient equity in your home you can most likely get a private mortgage.
No two private lenders are the same. We know a lot about this area and would strongly recommend you contact us about your private lending needs. Our private lenders are the most competitively priced. Our renewal terms are better than most. We offer full disclosure so there isn't any hidden costs or fees. We also know which lenders not to go to which I think is really important. Mortgages in this area are priced according to perceived risk, location and loan to value.
Private mortgages can help in the following situations as long as you have enough equity;
- Debt consolation
- Mortgage arrears
- Property tax arrears
- Foreclosure
- Income tax arrears
- Home renovations
- Investment property purchase
- House purchase
- Judgements
- Consumer proposals
- Bankruptcy's
- Much much more.
- Contact me if you want to know about your situation
Key Benefits
- No income qualifying
- Not reliant on credit
- Quick funding
- Money can be used for just about anything
- Bad credit is ok
- Bankruptcies are ok
- Consumer proposals are ok
- Foreclosure are ok
- Quick approvals
Shawn
Mooney |Bayfield Mortgage Professionals Ltd.
Broker
of Record
Your Mortgage Broker for Life
Bus. # 403-945-8769
| Mobile # 403-828-1838
Email: mortgages@shawnmooney.com
Website: www.shawnmooney.com
Refinance Plus Improvements FAQ
Similar to the purchase plus improvements in the way that this product allows you the privilege of borrowing money to do upgrades to your house. This product is really good for people who have owned for a long time and just don't have the extra money to do some badly needed renovations or develop the basement.
You can use the extra money to do the following;
- Build a garage
- Develop your basement
- Put an addition on your house
- New paint
- Renovate your bathrooms
- Renovate your Kitchen
- New flooring
- And much, much more.
Benefits;
- Still eligible for the best rates
- Much cheaper than carrying the debt on credit cards
- Increase your homes value
- I payment including your mortgage instead of many
- Make your home your dream home
This product is especially useful in situations where you cannot exceed 80% of your current properties value due to the lender's restrictions. With this product you can refinance to 80% and then you can increase the mortgage to do renovations allowing you to go above the 80%. In order to exceed the 80% value you need to be able to prove the renovations done will increase the value by enough to keep the mortgage at the 80% once done
Shawn
Mooney |Bayfield Mortgage Professionals Ltd.
Broker
of Record
Your Mortgage Broker for Life
Bus. # 403-945-8769
| Mobile # 403-828-1838
Email: mortgages@shawnmooney.com
Website: www.shawnmooney.com
Spousal Separation FAQ
In recent years there have been lots of changes to the rules which affect they types of mortgages of available. One of the biggest changes is the reduction in the maximum loan to value allowed. For a refinance the maximum loan to value is 80%. So, if you have a $400,000 house the maximum you can borrow is $320,000. This ultimately affects the ability to refinance in a situation where you are in a separation or divorce and the amount needed exceeds 80%, which unfortunately are so many these days.
Who is this product for?
This product was designed for people who are separating or divorcing from their spouse. More specifically for people who are in need of financing in excess of 80% of the matrimonial homes value. It has been my experience that most of these situations require financing for enough to take over the existing mortgage, buyout the ex-spouse and to possibly pay out debts. This product will help to do all of these.
What is the product for?
Basically, this product will allow one of the two ex-spouses to buy the house from the other. Because we are arranging this new mortgage as a purchase, the lender is allowing us to go up to 95% of a property’s value. For example, if a property has a value of $400,000 then you can get financing of up to $380,000, this is $60,000 more than previously allowed. The money can then be used to pay off the existing mortgage and the penalty, also buyout the ex-spouse and pay off debts.
What are the Benefits?
Besides the arrangement of a new mortgage to release ones obligation I think this product addresses another really big problem which is commonly faced. It allows one to be released from the obligation of a joint debt by rolling it in to the mortgage. Even though it is often specified in a separation agreement that he or she is no longer responsible for a joint debt I would say it is rare that a lender will allow that person to come off of the debt.
What’s Next?
The first thing I will do is provide a free consultation. In that consultation I will work with one or both to determine what options are available. Also, I will pre-qualify one or both to make sure it is structured in a way that is most beneficial. I know exactly how to structure one of these mortgages so I can help walk clients throughout the entire process. Not only will I be able to help with the arrangement of the mortgage for the buyout of the ex-spouse but I will also be able to determine how to go about helping the other purchase a new house for them also. The possibilities are endless… I can think of so many ways to help a client with this.
Please don’t hesitate to contact me if you or somebody you know is in need of help with this type of mortgage. If you are unsure it never hurts to contact me.
Who is this product for?This product was designed for people who are separating or divorcing from their spouse. More specifically for people who are in need of financing in excess of 80% of the matrimonial homes value. It has been my experience that most of these situations require financing for enough to take over the existing mortgage, buyout the ex-spouse and to possibly pay out debts. This product will help to do all of these.
What is the product for?
Basically, this product will allow one of the two ex-spouses to buy the house from the other. Because we are arranging this new mortgage as a purchase, the lender is allowing us to go up to 95% of a property’s value. For example, if a property has a value of $400,000 then you can get financing of up to $380,000, this is $60,000 more than previously allowed. The money can then be used to pay off the existing mortgage and the penalty, also buyout the ex-spouse and pay off debts.
What are the Benefits?
- From 80% to 95% financing
- Allows one of the ex-spouses to keep the house
- Helps avoid the sale of the matrimonial home
- Helps both with the allocation of joint debts
Besides the arrangement of a new mortgage to release ones obligation I think this product addresses another really big problem which is commonly faced. It allows one to be released from the obligation of a joint debt by rolling it in to the mortgage. Even though it is often specified in a separation agreement that he or she is no longer responsible for a joint debt I would say it is rare that a lender will allow that person to come off of the debt.
What’s Next?
The first thing I will do is provide a free consultation. In that consultation I will work with one or both to determine what options are available. Also, I will pre-qualify one or both to make sure it is structured in a way that is most beneficial. I know exactly how to structure one of these mortgages so I can help walk clients throughout the entire process. Not only will I be able to help with the arrangement of the mortgage for the buyout of the ex-spouse but I will also be able to determine how to go about helping the other purchase a new house for them also. The possibilities are endless… I can think of so many ways to help a client with this.
Please don’t hesitate to contact me if you or somebody you know is in need of help with this type of mortgage. If you are unsure it never hurts to contact me.
Shawn Mooney |Bayfield Mortgage Professionals Ltd.
Broker of Record
Your Mortgage Broker for Life
Bus. # 403-945-8769 | Mobile # 403-828-1838
Email: mortgages@shawnmooney.com
Website: www.shawnmooney.com
Wednesday, October 12, 2016
Equity Take Out FAQ
Just what is an Equity Take Out or ETO?
An ETO (Equity take out) is simply pulling out the available equity in your house. An equity take out can be done in lots of different ways. For example, you could refinance your house and take out your equity this way or you could get a 2nd mortgage or you could look at a home equity line of credit. There are advantages and disadvantages to each of the methods described above. If you are considering this, first and foremost use a Mortgage Broker. There are lots of companies out there that claim to be able to get money regardless of your credit rating and income. As these companies might be able to do this, you may qualify for a much better option. I will make sure to customize a solution to suit your needs. We also have mortgages for poor credit.
With an Equity Take Out you can reduce monthly payments
Are you finding you don't have anything left over at the end of the month after paying all those monthly bills? Use the equity you have built in your home to help manage your debt. Consolidation can help you manage your monthly cash flow and relieve the financial pressure. I can help you with debt consolidation, and show you mortgage options that will help you regain control.
With an Equity Take Out you can pay off high interest credit card debt
Are you only making minimum monthly payments on your high interest credit cards, loans or lines of credit? Now is the time to take advantage of the equity you have in your home and pay down your high interest debt while actually saving thousands.
With an Equity Take Out you can Plan and build for your financial future
No extra cash available to help build your financial future. We can help you free up cash so you do have funds to invest for your retirement and your family's financial future.
Take out equity for almost any purpose!!
- Take a vacation
- Buy a vehicle
- Renovations for your house
- Get your house out of foreclosure
- Pay off Revenue Canada
- Pay off your property taxes
- Get rid of collections and judgement
- New Business
- Investments
- Second Properties
- Contact me for additional options
Please check out Equity Take out Mortgages on my website for more information.
Shawn Mooney |Bayfield Mortgage Professionals Ltd.
Broker of Record
Your Mortgage Broker for Life
Bus. # 403-945-8769 | Mobile # 403-828-1838
Email: mortgages@shawnmooney.com
Website: www.shawnmooney.com
Some conditions apply. O.A.C.
Tuesday, October 11, 2016
Mortgage Rate Update - October 11, 2016
As always, you can keep updated on current interest rates at www.shawnmooney.com/rates
Shawn Mooney |Bayfield Mortgage Professionals Ltd.
Broker of Record
Your Mortgage Broker for Life
Bus. # 403-945-8769 | Mobile # 403-828-1838
Email: mortgages@shawnmooney.com
Website: www.shawnmooney.com
*Denotes Change in Rate**Rates subject to change without notice. Some conditions apply. O.A.C. Rates could be customized maturity and must close by a certain date. Contact me for the best rate for you!!
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