Top Reasons You Should Use a Milton Mortgage Broker

Why Should You Use an Independent Mortgage Broker Agent?

When you are in the market to buy a home in the Milton area and are looking to get approved for a mortgage at a low interest rate, enlisting the help from an independent mortgage agent is your best option. Here are some of the top reasons why you should use a Milton mortgage broker:

Save Money!

One of the biggest reasons to use an independent mortgage broker is to save money! Independent brokers have connections with dozens of lenders, and as such, they are able to locate a lender that is willing to offer you the lowest rate possible. Not only that, but they access to products that are not available to the general public. A lower interest rate translates into thousands of dollars saved in interest payments over the term of your mortgage, which will allow you to put more money towards your principal and equity in your home, and pay your mortgage off faster!

Open Up Your Options

If you go to a bank for a mortgage, you really are limiting the mortgage options available to you. Banks typically only have their own mortgage packages that they offer their clients, often with limited interest rate options. However, mortgage brokers shop around on your behalf and discover all the options available to you from a variety of lenders on the market.

Simplify the Mortgage Process

Mortgage brokers work independently, which means any of the opinions they provide you with are completely unbiased. They work for you, which means they only have your best interests in mind. Instead of you looking around yourself with a variety of lenders, and filling out individual application forms, your mortgage agent will shop around for you. This means that you only have one application form to fill out, which your broker will use to track down the lender that is willing to offer you the best mortgage package and interest rate possible. You also preserve your credit rating as only one credit report needs to be pulled.

Talk to the Professionals

When you are ready to buy a home and need a mortgage, call Marcelle Tiqui. She is an independent Milton mortgage expert who has plenty of experience helping home buyers get the mortgage they need to buy a home. Not only does Marcelle serve buyers in the Milton, Burlington, Hamilton, Oakville, Stoney Creek, Mississauga and GTA area, but she is also a local to this area! Let her help you secure a mortgage so you can settle into your new home in no time! Call for a confidential, free evaluation at (905) 208 7070.

Advice on Getting a Home Line of Credit

Home Equity – Helping You Pay Off Life’s Big Expenses

If you find yourself in a position where you need a large lump sum of money, the equity in your home – which is built up over time by paying towards your mortgage every month – can be accessed for a secured low rate loan. The equity in your home is essentially the amount of value put in your home through regular mortgage payments, as well as the natural increase in value of your property over time.

What is Home Equity and What Can I Use it For?

The difference between the current market value of your home and the amount still owed to the lender is essentially your home equity. By accessing this equity, you can use the funds to pay for many things, such as your child’s educational tuition, a home renovation, rising debt, a car, or an emergency expense that has suddenly come up. Whatever your reason, a home line of credit against the equity in your home can be your best bet for a low interest loan, if you qualify.

Mortgage Brokers Can Help You Access the Home Equity You Need

Sometimes life throws you curve balls, or simply doesn’t give you the time you need to build up that sum of money you need to pay for something big. Or perhaps you have large amounts of debt that you would like to pay off sooner in order to save on the thousands of dollars in interest that you are paying every month on high interest, unsecured loans.

Home equity lines of credit, or home equity loans, carry higher interest rates than a first mortgage loan, but these rates are still typically much lower than most unsecured loan rates, like credit cards. Since you want to keep interest payments low, a home line of credit can be just the thing you need to help pay for life’s big expenses.

If this sounds like a solution that could be right for you, contact Lee Anne Taylor of Home Loans Ontario. Lee Anne is an independent mortgage expert who has plenty of experience and lenders who can finance your debt consolidation or big purchase. She will sit down with you to help you figure out if a home equity line of credit is right for you. Contact her team today for a home equity loan Burlington or other areas of Greater Toronto and Greater Hamilton. Call (905) 336-8948 and learn your financing options using the equity in your home.

Benefits of a Professional Basement Remodel

Create More Useable Space in Your Home With a Finished Basement

Finishing a basement in your Greater Toronto area home is a perfect idea to create more useable space for your entire family. Imagine the amount of added space that you can give your home by adding a few finishing touches to your basement! It is much easier and cheaper than moving and will add to the value of your home when it is time to sell.

There are a number of purposes that a finished basement can serve. Perhaps you’d like to have an open rec room for your growing children to have to their own area to hang out and play in. Maybe you’ve got in-laws that are living with you and you’d like to give them their own suite. Similarly, a private basement suite is perfect for a live in nanny. Other options include a man cave, a home office, a second kitchen and extra bathroom. Or maybe you’d like to earn some extra monthly income and set up a basement apartment that you can rent out to help pay for your mortgage.

Whatever the reason, a Mississauga basement remodel job can certainly give you a great deal more space to the entire square footage of your home!

Get the Pros in to Help

Some homeowners may consider attempting a basement remodeling job on their own in an effort to save money. Unfortunately, without the proper skills, this can turn out to be a very costly idea. There are number of things that go into a Mississauga basement remodeling job that require skills and knowledge of building codes. Basement finishing is much more than putting up some drywall and laying down tiles. For insurance and resale reasons, it is important to go with a reputable, licensed contractor.

There are building permits to consider, retaining walls, plumbing issues and wiring considerations that need to be factored in before you start renovations. Many times these amateur jobs can be disastrous and actually cost the homeowner more money in the long run to fix all the mistakes that were made along the way.

When you’re looking to get your basement finished, call the experts at Carcone Construction to do the job for you. They’ve got the experience and know-how to get the job done right the first time so that no back-tracking is necessary. They are a local Mississauga company that serves Mississauga, Burlington, Oakville, Georgetown, Milton and other areas of the GTA. They have been providing quality basement renovations for over 26 years at reasonable prices. Whether you want to finish the whole basement, just add a bathroom or do updates to an existing one, Carcone and company can help you with all your interior home renovations.

Call (416) 953-5185 or go online at CarconeConstruction.ca today to learn more about basement remodeling in the GTA!

Dreaming of a Summer Cottage? Set Up a Cottage Mortgage Before You Shop

Many families dream of owning a summer home or cottage that they can retreat to on weekends or summers with their loved ones. The first thing you would need to do when considering purchasing a summer home is getting your finances in order and setting up a cottage mortgage. Getting pre-approved is a great way to start, so that you only look at summer homes that are within your budget and financial means.

Start building memories with your family by owning a cottage of your very own. A cottage is great way to have a retreat in a peaceful location, with loved ones and friends, enjoying some quality time with each other. Whether you want to get away just for the weekend, or spend the entire summer away, it’s possible to find a low rate cottage mortgage to make your dream come true!

Types of Cottage Properties

Lenders typically arrange a cottage mortgage in a specific way that is dependent on what type of cottage property you are thinking of purchasing. These two main types of properties include:

Type A - These types of vacation properties generally are for year round use, and as such, they have heating and road access. These are considered residential, seasonal or rural properties, and will have one type of cottage mortgage.

Type B - These cottages are usually used only on a seasonal basis, and don’t necessarily have heating or road access. This type of property would have a different sort of vacation home mortgage set up for it by the lender.

Cottage Expenses Upon Purchase

There are a few things you should consider before you shop around for a cottage. Consider the expenses you will have to pay upon the purchase of a summer home. For example, consider the following expenses:

Survey - This is an important expense that must be taken into consideration. There are many cottages out there that have never had a survey done. There are certain things outlined on a survey that are of importance to know, such as locations of septic tanks, easements, driveways, and property lines.

Cottage Inspection - A proper building inspection is something that you should not ignore. If there are any major defects with the cottage, a professional home inspector will usually be able to point them out to you before you make an offer final.

Septic Inspection - A septic tank expert will inspect the tank and do a flow test to make sure that there is no blockage in the tile beds.

Property Taxes - Be sure to get the current tax information of the property you are interested in purhasing. The realtor you deal with should be able to provide this to you.

Obtaining a Cottage Mortgage

When setting up finances for a cottage mortgage, lenders will begin with checking your credit score and analyzing any outstanding debt you may have. Lenders generally look at a cottage mortgage or vacation home mortgage as higher risk than a typical residential home in the city, but they have come a long way in this department.

If the bank says no, don’t fret – give a mortgage broker a try. The mortgage professional will get you a vacation home mortgage at the lowest rate possible, and with terms and conditions that suit your individual needs. He or she will shop around for you so you don’t have to.
Do your homework, and consult with the professionals before you shop around for that dream home! Start with a cottage mortgage professional who can also recommend experts you will need in the real estate industry, including realtors, lawyers, inspectors, movers and more.

How Do You Go About Getting a Scarborough Mortgage That Meets Your Needs?

Scarborough is a great city to live in. It is just on the outskirts of east Toronto, but its real estate does not have the hefty price tag that living right in the heart of the city has. Buying property in this section of the GTA is a great way to invest your hard earned capital, and start building wealth and equity for you and your family. Generally speaking, most Canadians will need a mortgage in order to be able to pay for a home anywhere in Greater Toronto.

Many home buyers – especially first time home buyers – may simply go to their banks for a mortgage when shopping for a home. However, they may not realize that approaching their major financial institution alone is limiting their options for the perfect mortgage. Often, banks will offer a standard interest rate, which may or may not be the lowest you can get. In addition, the banks’ conditions may be standard as well, which means they are not necessarily specific to your situation. First time buyers, self employed, new to Canada or ones with bruised credit often get turned down for traditional bank mortgages.

The fact of the matter is that home buyers have a lot of choice when it comes to their mortgage package. They have choice when it comes to the interest rate they pay, and they have choice as far as the specific conditions in their mortgage package go. Simply settling for what one bank can offer is not usually the best option.

So how do you go about finding the best mortgage package for you? You could shop around from one lender to the next, filling out endless application forms and spending endless hours reading each package that each lender had to offer. Realize too, that each lender will pull your credit report – which can seriously damage your credit rating.
There is a simpler way. By having an independent mortgage broker do the shopping around for you, you will not only save time and energy, but you will be sure to end up with the best mortgage rate and conditions for your situation.

Independent mortgage brokers are always dealing with many different lenders, and have established a rapport with each of them. As such, they have instant access to each lender and the products that they offer their clients. Once a mortgage broker has gathered all the necessary information from you, they will know exactly what type of mortgage package is best suited for your situation.

Perhaps you are in a situation where you have poor credit, or a history of bad financial situations. Mortgage brokers can help home buyers in situations like these. Most likely, a traditional bank will turn down applicants who have this type of financial history. However, there are plenty of lenders out there who will work with home buyers like these. A mortgage broker will know who these lenders are that will deal with this situation, and will do their best to get you the best mortgage package possible.

A mortgage broker will negotiate the best rate possible for you, so you don’t have to. Why settle for one rate that the bank can offer, when you can have a professional and experienced mortgage agent find a rate that is most likely the lowest you will find?

The best part is, mortgage brokers do not charge consumers for their services. Not only will you be getting the best rate possible, but you won’t even have to pay for the services to find it. They work for you – not the bank – so can offer expert, unbiased advice.

Contact an accredited mortgage professional today, and get them to work for you on getting the perfect Scarborough mortgage.