Some of our lenders we work with;
Purchase Plus Renovations programs, you have options;
You’ve found the house that you want to purchase, the location is perfect, but it needs some improvements?
It doesn't quite have the finishing touches you are looking for in your new home.
Examples; windows, flooring, bathrooms, unfinished basement, no garage or it requires other potential improvements.
There are versions of the Purchase Plus Program in the market that will allow you to complete these necessary or much desired renovations. These
programs allow you to add on the renovation cost to the purchase price,
so you benefit from the low mortgage interest rate and make only one
Don't incur credit card debt afterwards and struggle with extra unnecessary payments. Also very importantly, with the current restrictions on refinancing a home, you cannot rely on this option to pay back your costs and expenses for the renovations.
Call Taya today and find out which program is best for you. Most banks only offer one version. We work with many banks and have access to more choices that will save you money on your home renovations and help you have that dream home you want sooner than later.
husband and I found a home that needed a ridiculous amount of work, but
it had good bones and the property was exactly what we were looking
for. In our area we were having a very tough time finding one that met
out needs and wants. I was lucky enough to have a friend recommend Taya
as she had just had her mortgage redone and was very happy. A little
skeptical about the distance being a problem I sent her a message on her
website and heard back from her within the day. After explaining the
situation of the house, (I already have been told by a bank it could not
be done) she took the time to give me a bit of an education. We didn't
meet the purchase plus improvements program that most banks offered and
it was definitely not a construction loan, and on top of it, it was a
private sale. She said 'leave it with me'.. to make a long story short
we are in our dream home! After 6 months of crazy.. paperwork..
renovations.. progress advances.. and countless phone calls and
emails... Taya made it happen.. She worked late in the evenings, on
weekends, whenever we needed her.. whatever we needed! Everything fell
into place easily on our end.. we had so much stress with little kids,
reno's and work, she secured us a great low rate and took care of
everything. I couldn't be happier with her work. I tell everyone.. "If
anyone can do it, Taya can!" Thanks again Taya! Steph & Brad, Kirkland Lake, ON
Flex | Borrowed Down Payment
-Unverifiable IncomeRefinance -
-Debt Consolidation (SAVE MONEY!) Credit Issues
-Allowable rental income & guidelines for revenue properties can vary drastically from lender to lender, this can make a HUGE difference if you qualify or not.Purchase + Improvements
New to Canada
Transfer / Switch Mortgage
Second Home/Vacation Home
Closed, Open, Fixed or Variable Mortgages;
An open mortgage allows you the flexibility to pay off some or all of the mortgage at any time, without a penalty. Interest rates are usually higher and are tied to the Bank Prime.
Closed or Fixed Mortgage
A closed or fixed mortgage offers you the security of locking in your interest rate for the term of your mortgage, so you know exactly how much principal and interest you will be paying on the mortgage during the term. Terms range from 6 months through to 10 years.
Many lenders will allow prepayments of up to 20% of the balance annually without a penalty. If the mortgage is paid off in it's entirety before the end of the term, most lenders will collect a fee of three months interest or charge the lost interest to the end of the term.
Variable Rate Mortgage
A variable rate mortgage allows you to take advantage of today's low Prime Rates. The interest rate fluctuates in relation to the 'Prime Rate'. Lenders compete by offering various discounts below the prime rate. Payments may be fixed for up to 5 years although the rate of interest will always fluctuate according to Bank Prime. If the Prime rate climbs you pay more interest and if the prime rate descends you pay off more of the principal.
While there are several factors to consider when making a mortgage decision.
There are essentially four key elements that should be considered:
Term - the contracted length of time you pay a specific rate on the mortgage. This is where mortgage amortization comes in which is the number of years over which the repayment of your mortgage loan is calculated.
Rate - the interest rate on the mortgage which is either fixed or variable. A fixed rate means the same interest rate and payment guaranteed for the length of your mortgage and a variable rate means your interest rate fluctuates with changes in the prime rate.
Term Type - specifies the conditions associated with paying out the mortgage as in open or closed.
Flexibility - defines the ability to repay additional amounts thereby reducing your outstanding principal throughout the term of the mortgage; either ongoing with regular payments or lump sum bonus payments.
I will do the legwork, number-crunching and negotiating on
delivering financing solutions that make the most sense for you.
In other words, I’ll sweat the details so you don't have to.
Here at TMG we call it our No Sweat Mortgage Guarantee
it's a brand promise we deliver on every day.