Congratulations on selling your home! Are you and your buyer’s possession dates co-ordinated to your liking? Or are you worried that one of you will take possession before the other party is ready?
Sometimes you need to put in an offer on a new home before receiving funds from the sale of your existing home. Or you might experience bank delays and smooth fund transfers that put you in a tight spot. The exchange of sale and purchase financing in these scenarios can leave time gaps that make life difficult.
Let me tell you about our mortgage solutions, which includes bridge financing. Bridge financing can hurdle those gaps and make the transition to your new home easier. I can show you how to secure a bridge financing loan that will free up some money to meet expenses until you straighten out the kinks in the transition period.
Bridge financing is a short-term loan, up to about 90 days, that lenders extend with some guarantee of repayment. It may have a little higher interest rate, but in the short term, it might be worth it. I can help you through the steps with your existing mortgage company or lender. Contact me today, and we can discuss how to get you into your new home painlessly.
As a homeowner, you’ve had or will have a mortgage renewal notice in your mailbox. As you hunt for the best interest rates, the question may come up, should I renew my mortgage or is it time to refinance instead?
Refinancing isn’t for everyone. There are several factors to consider, which is where I can help. Using my industry experience as a mortgage broker in Calgary, I work with clients across the country to find the right mortgage solutions for them. I would love to lead you to the information you need to make an informed decision.
Mortgages products can be complicated, but I try to help Canadians untangle the details surrounding mortgage refinancing. We can discuss the options available to you. They include refinancing your mortgage, renewing with your current lender or doing something called a switch transfer to get the best rates offered by lenders.
Refinancing mortgages often come with new terms of reference from the original mortgage. I’ll take you step-by-step through the process and estimate the costs surrounding your refinancing decision. As your mortgage broker, we can discuss how you can maximize your home equity or consolidate any loans along with the mortgage package you are considering.
Consolidating loans will drop credit card fees, and by including it in your mortgage refinancing may be the first step to a manageable home budget.
There may be many reasons at this time to utilize your home equity to attain further life goals. It could be you need home improvement financing to update your home to maintain its market value. Or you want to lend a helping hand with your children’s first home.
Maybe you have found the perfect vacation home, but need to find a way to secure the financing. Whatever your reason for wanting to refinance your home, I can help you use that home equity, so you can use it to enrich your life further.
I pride myself in being one of Canada’s best mortgage brokers. Even if you only have questions at this stage, feel free to reach out. I’m always happy to answer questions.
You have worked hard and were diligent about paying down your mortgage. You are daydreaming about those cottages on the lake. Maybe your adult children are about to fly the coop and enter college or get married. You would like to make sure they have a decent place to live. When you looked at the realities of these goals, you wonder if you need to sell your home or downsize to achieve them.
I can tell you how to have it all. You don’t have to sell your home. You can use your existing home equity and tap into some great financial programs that are available.
The Secondary Home Program allows you to get a mortgage on a second home with only 5% down, as long as you or a family member is living in the house rent-free. Let me take you through the qualifying details of this program. It’s a great option for transitioning families. If the adult children are moving to an urban centre for college, it could be your retirement residence after they graduate.
I can also give you details about a Home Equity Line of Credit (HELOC) and the Canadian Home Income Plan (CHIP). Plans that free up money and come with tax benefits. Use the funds to fulfill your retirement bucket list or help you with your retirement income.
You might want a second home as an investment opportunity. If you have 20% as a down payment, a second home rental property gives an extra income, and you reap benefits when you resell.
Let me help your dreams come true. Let’s set up a time to discuss the many lifestyle options and mortgage solutions that will optimize your existing financial goals.
Have you been watching interest rates and notice they are lower than your existing mortgage? Are you close to a mortgage renewal date and want to change to a new lender? I can help you with the details of finding a lender that will offer the best rates and best mortgage solutions all while making the transfer process more straightforward.
If you want to switch lenders before your renewal date, there may be penalties, legal fees, and new appraisals required. I can tap into my mortgage knowledge and experience to find ways to keep those to a minimum. My contacts include lenders that may waive some of the fees and penalties.
Are there things in your home mortgage you want to change? For example, adding a credit line or increasing your mortgage amount? I can help with refinancing details, too.
If you want to keep your amortization and the amount of your mortgage the same, usually there are no fees involved in switching to a new lender. You may want to stick with your current lender. They will notify you of the details of the renewal. Generally, the process is easy, and you don’t need to re-qualify.
Your current lender may re-evaluate your mortgage if you have missed repeated payments or have changes in your debt load or employment. The lender has the right to refuse the mortgage renewal, or request you renegotiate the terms of the mortgage. I am ready and willing to help you with renewing your mortgage and suggest troubleshooting solutions if the process gets complicated.
Reach out anytime and we can discuss exciting options that will save you money or help solve problems in securing the best mortgage possible.
Easy to deal with. Great flexible meet at my home no running around for me Awesome. Thanks Tracy.
Great service! Fast & efficient! I would recommend Tracey to anyone looking to get a mortgage.
Tracey is very professional and knowledgeable. I recommend her for all your mortgage needs.