Mortgages In Ottawa

It is with much excitement that I announce my move to a new Mortgage Brokerage called Dominion Lending Centres Smart Debt! We still have the same location in Ottawa and phone numbers, and the same excellent service to ensure you receive the best mortgage rates and products catered to your unique needs. And since we’re now part of the fastest-growing mortgage company in Canada, we have expanded access to additional Banks, Trust Companies and Credit Unions. More lenders mean more options and added savings for our valued clients.  It’s the only stop you’ll need to find the best mortgage broker in Ottawa.

The move has also increased my service offerings. DLC Leasing, a subsidiary of Dominion Lending Centres, is an equipment leasing brokerage with dozens of North American lenders providing a range of equipment financing options for business owners.

Equipment Leasing Services Include:

• New & Used Equipment Leasing
• Lease-Backs – where a lender buys your existing equipment and you lease it back!
• Access to hundreds of leasing options and solutions, ranging from technology to specialized office equipment and beyond

Dominion Lending Centres is focused on providing great systems so we can easily communicate market conditions, interest rates and vital homeowner information to you moving forward.

I still have one simple goal in mind – to provide you with unbelievable service, and the very best mortgage options to meet your unique needs. Please let us know if you have any questions. We look forward to serving you soon!

Sincerely,

Sandra Tisiot

Mortgage Agent

Agent Lic. # M09000532

Dominion Lending Centres Smart Debt

E-mail: Sandra@sandratisiot.com

Website: www.mortgagesinottawa.com

Are you contemplating buying a home?  Getting ready to purchase Ottawa real estate is similar to any other organizing project.

Organization is Anticipation

Be Proactive.  Plan Ahead

At least 6 months before hand, if you know you will be purchasing a house, refinancing or in need of a mortgage in Ottawa, have your credit analyzed by a professional or take the time to get a copy of your credit file.

To obtain a free copy of your credit report you can mail or fax inquires to Equifax Canada Inc.  If you would like immediate access to your report go on line, but there is a fee for this service.

Plan to have the best credit score possible when you put in your application.

YES YOUR FREE CREDIT BUREAU IS WAITING.

No strings attached, just contact me for a free credit bureau analysis.  Your Ottawa home is waiting.

Have you checked out Ottawa real estate lately? Try using the HomeGuyz; young and hip they are ready to make all your purchasing dreams come true.  (http://www.thehomeguyz.ca/)

Okay you heard it hear first.

One of our lenders just announced that the maximum they will lend on an investment unit has changed from 80% ltv (loan to value) to 75%.  That means you will need a 25% down payment.

So, if it’s 20% down for you, then act fast.

We are benefiting from one of the best mortgage environments in history.  Take a look at the interest rates on mortgages these days.  Now look at what your’re paying on your credit cards and other debts.  Canadians pay a shocking amount of money on their high intrest debt.  You can actually power down your debt faster by pulling together your credit cards, car loans, or any other high-interest debt and rolling everything into a new or existing mortgage.  It’s a great money-saving strategy!

The benefits of pulling your debt together are immediate and long lasting improved cash flow, fewer payments, a brighter credit picture, and big savings on your overall interest costs.  If you have equity in your home there is no reason to be holding large amounts of high-interest debt.

We don’t know how long these great rates will last but right now, it is a historic opportunity.  If too much debt has slowed your monthly cash flow to a trickle, it’s time to refinance your mortgage.

Click here to apply for a free mortgage evaluation. http://www.sandratisiot.com/index.php/mortgage_application

It’s safe. It’s secure. It’s FREE.

c MortgageArchitects 2012

Ever wondered what they mean?

APR:  Annual percentage rate

OAC: On approved credit

So there you have it!

Recent credit rating downgrades by Standard & Poor south of the border combined with worries about global growth and the euro-zone debt crisis have triggered a week of turbulence in the stock markets. It is clear that new macro numbers published in the last few weeks seem to point in the direction that the speed in economic recovery will be less than anticipated.
Bad news for our economy is good news for the bond market. The 5-year Bank of Canada bond hit a low of 1.35% last week (the lowest ever) and our lenders are enjoying unprecedented spreads since 2008. Apart from volatility in the markets, there are a few reasons why banks are reluctant to reduce interest rates.
·   Profits for variable rate mortgages are razor thin so they need to make some money in the fixed rate products;
·   GIC deposit rates are very sticky so their funding cost does not go down much. e.g. banks cannot offer 1% for 5-year GICs;
·   The absolute yield is very low now. CMB spread might widen a bit since investors would demand a higher rate.
So for now, the banks are keeping the profits; especially in light of pending mortgage closings end of August. However, we continue to keep an eye on unpublished special rates offered by all lenders.
Amid slowing growth, reduced consumer confidence and increased fiscal stress in the US and Europe, Bank of Canada will find it hard to resume the process of normalizing interest rates. Instead, short-term borrowing costs can be expected to remain low.

c 2011 Mortgage Architects

Right now, it’s a matter of style.

Okay, so the rate-watching game has been a little more nerve-wracking lately than it’s been for the last decade. It was a pretty easy decision there for a while. Mortgage rates were sliding down – then playing around at the bottom – since the early 1990’s. With that kind of rate environment, Canadians jumped on the opportunity for a variable-rate mortgage that stood a good chance of declining or staying low over the course of their mortgage.

So what now? Is it time to finally lock in? Well, right now, the question of fixed or variable is a matter of style. The rate climate is expected to heat up a little, and the right mortgage decision is really a matter of your attitude towards risk versus reward. Keep in mind that mortgage rates are still at near-historic lows. So both fixed and variable mortgages are very attractive right now. There are some great benefits to a variable-rate mortgage. The rate you pay is set based on the prevailing prime lending rate. Lenders offer variable-rate mortgages at the prime-lending rate minus a certain percentage.

Discuss with your mortgage broker what lenders are offering on their variable-rate mortgages.  When the prime rate drops and you have a variable-rate mortgage, you’ll see the decrease in your mortgage rate quickly. If you’re able to keep making the same payment amount at that lower rate, each payment will knock a little bit extra off your principal: a great trick for driving down your mortgage a little faster. If rates start rising, you can exercise your option to convert to a fixed rate for the rest of your mortgage. If you don’t mind a few ups and downs, then the benefits of variable-rate mortgages are very compelling. While variable-rate mortgages are sometimes considered a little riskier, the truth is that variable mortgages haven’t been much of a gamble for years: they’ve been a solid, great choice for most homeowners.

Since 1991, prime has been lower than the 5-year rate based on a 12-month average so overall interest paid during this period has been minimized through this option. If, however, you’re starting to lose sleep wondering what will happen next with rates, then you may want to look at fixed-rate mortgages. If you’re on a very tight budget, a fixed rate gives you the security of knowing exactly how much your mortgage will be so you can plan accordingly.

Many first-time homebuyers choose a fixed-rate mortgage for this reason. Five-year terms are popular, although fixed-rate mortgages for longer terms are available and should be considered if you decide to go this route. You may be able to lock in a rate for the remaining life of your mortgage which can provide real long-term security. Don’t just automatically take a 5-year term; get advice on the mortgage term that will best meet your needs and goals.

Still not sure? Well consider that studies have shown that most Canadians hold their mortgage for 15 years or longer and that over the long term, less overall interest is paid with a variable-rate mortgage. If you believe that minimizing the total amount of interest you pay over the life of your mortgage is an important goal, then the case for variable rate mortgages is very strong. Variable rate mortgages can also help you minimize costs to break your mortgage should you sell or refinance.

Mortgage Achitects c 2011

This can be a challenging time to be a first-time homebuyer. On one hand, you’re anxious to get into the market and become homeowners. On the other hand, it’s a huge financial decision. What will happen with rates? Will a future salary increase ease the immediate financial pressure? Will a job change mean a move to a new neighbourhood in the next few years?  There’s a lot to think about.

If you are a first-time homebuyer or know someone who is, getting professional mortgage advice is a great place to start.   Some things to think about:

Determine what you can afford!

Have you saved up enough?

Do you have your team of professionals in order – Lawyer, Realtor, Mortgage Broker?

Have you planned for closing costs?

Beyond the monthly payment. Remember that home ownership involves costs beyond the monthly mortgage payment. Many first-time homebuyers neglect to consider such baked-in costs as property taxes, utilities and insurance. Get a realistic picture of those annual costs, and imagine that sum on top of your mortgage payment. While it’s important to be prudent of course, many first-time homebuyers can be too cautious about getting into the market. In fact, mortgage planners often surprise first-time buyers by showing them that they could have been building equity for the last few years – rather than paying someone else’s mortgage with their rent money. Remember too that for decades, Canadian homeowners have been able to leverage their property purchase into a large financial return.

Ensure you get off on the right foot in your home ownership journey!

copyright 2011 Mortgage Architects

A Guest Blog by Bernadette Somerville www.suitablystaged.com

Oh time…where do you go, and why isn’t there ever enough of you? It seems when it comes to time we all want more, to share among friends and family, or to devote to our work. Well, an organized, de-cluttered space is one way to free up some of your time. Maybe then you wouldn’t have to scramble through all those papers on your desk, or dive into that musty pile in the closet to find your son’s left glove before he misses the school bus. I’m certainly not the first to say this, but it’s worth repeating: your time is precious and valuable. At home you should spend it with your family; having a meal, relaxing with a movie, or maybe building a snow fort. There are some key areas in your home where organization should be addressed and continually maintained. These include the entryway or mudroom, the kitchen cupboards or pantries, your home office area and–dare I say it–your closets. I chose these areas because I believe they are where you simply can’t afford chaos. Frankly, it would be great if every nook and cranny could be well organized and maintained, but again, there is only so much one can do in the time available.

First of all, categorize, but do so in a way both you and your family will understand. You can chose the categories: colour, size, name, owner, photo paper, canned goods, long-sleeved, seasonal, box, basket, and on and on and on. And if you neaten and tidy the essential areas after you use them, for even five to ten minutes a day, the mitts will seem to find you, the canned tomatoes won’t keep hiding behind the bag of breadcrumbs, and your favourite shirt won’t be buried under that scary pile of clothes that have apparently been accumulating forever. If things are easy to find everyone’s time is freed up, and then it can be spent on the important things, like just being together.

Oh time…why should I spend more of you to sell my home? Well, an organized, de-cluttered space not only frees up time for family, it can also contribute to a better, more satisfying experience when listing your home. Almost every home stager believes that de-cluttering your house or property is an essential step to creating a larger and more inviting residence. When you are preparing your home for selling, try to put yourself in the buyers’ shoes: How would your dream home look? Do you get distracted by the family photos, golf trophies or that stuffed-to-bursting shelving unit? Items can easily be pre-packed and areas de-cluttered prior to viewings or photos. A good way to begin is to remove everything, then redesign and reassemble the space how you would like to see it, rather than just so everything fits. You may find that re-arranging or removing furniture and accessories not only brings out the potential of a room, but also helps you decide what is really needed and what isn’t. And though it may be difficult, if you haven’t pre-packed something after the de-cluttering process you must be ruthless; donate it, recycle it or trash it.

There’s no question de-cluttering can be a tough and tedious process…but what a great feeling when you’re finished! Just be sure to maintain your wonderful new environment.