Personal Home Financing Solution by Orlando

09/23/2021

Is your mortgage up for RENEWAL?
Call me (204)801-3505
I can save you “THOUSANDS”

09/21/2021

https://www.sunovacu.ca/low-manitoba-mortgage-rates/?fbclid=IwAR3ZHD29CZsHM5kM_7BVAbfheZriIpHpKqJEMnnHCwloU1SGzvd1muD5dLU_aem_AZ_hcmLzyma5tssAlxiyjJ4FFYhOiJWcXEQAHadZpK9YhAhjkKoWGT3f8TpG2nxU5IugvR37jx6H1qp3MwDsOJLGDy6Dx5pL-FMv_dcUJqnR8Df8rUKjrJGx1-lvjFozN5I

Low Manitoba mortgage rates & online pre-approval. Whether a first time homebuyer or refinancing, Sunova makes homeownership more affordable.

09/20/2021

What is “EQUITY” ?
It is the difference of the current value less original cost of acquisition
Ex. New property value is $400,000( Based on comparables or appraisal) less original cost of $320,000 equals to $80,000 equity or profit( selling)
Refinance-Withdrawing available equity from a property. In Canada you are allowed to refinance up to 80% of your current property value less current owing equals available EQUITY
Ex. Current property value is $400,000 x 80%=$320,000 minus property owing of $308,000 equals to available equity of $12,000
Want more information? Stay tuned or call me (204)801-3505

09/17/2021

Conventional or High Ratio(insured)

When you purchase a property and you use 20% or more of the property price as down payment, Your mortgage is called “Conventional”
If you use less than 20% of the property price with a minimum 5% as down payment, Your mortgage is called “High Ratio”
A default insurer is involved in your purchase if it’s “High Ratio” insuring the financial institution just in case you’re NOT able to make the mortgage payment.
You do not require default insurance in Conventional Mortgage
Currently there are 3 default insurer in Canada
CMHC-Canada Mortgage Housing Corporation
Sagen- Formerly known as Genworth Financials
CGI- Canada Guaranty Inc
Want more information? Stay tuned or call me (204)801-3505

09/16/2021

Did you know about SEM(Shared Equity Mortgage) is another incentive for first time home buyer?
Purchasing your first home requires 5% minimum down payment on a property up to $499,999.00. Government of Canada will contribute another 5% down payment (for existing property) or up to 10%(for new build) as a shared equity mortgage (SEM)
RESULT: thousands of dollars in savings on your mortgage plus lower payment
Want more information? Stay tuned or call/DM/PM me (204)801-3505

A combined "PEOPLE" experienced for over 30 yrs
Advise you can trust and rely on
"Let me find you a

09/15/2021

What is a First time home buyer and it’s incentives
- A first time home buyer is simply buying your first house to live in OR you maybe eligible if you have sold your house and have NOT bought a house for the last 5 yrs
Incentive:
You can take advantage of the Home Buyers Program(HBP) by using your saved RRSP in purchasing your first home up to $35,000. You can use it as a down payment, closing cost, little renovation or even purchasing appliances. You can even pay some of your debts.
Want more information? Stay tuned or call me (204)801-3505

A combined "PEOPLE" experienced for over 30 yrs
Advise you can trust and rely on
"Let me find you a