Mortgage, Information & Help!

   

  Dan Spinu

  Mortgage Consultant

  The Mortgage Alliance 
  cell: 416-471-9298

  e-mail: dspinu@mortgagealliance.com

  www.mortgagealliance.ca/danspinu

  • 100% financing available for 4.85% 5 yr fixed
  • Self employed financing up to 80% loan to value for purchases and refinances
  • 2nd or 3rd mortgage up to 85% loan to value with no minimum credit score
  • Equity residential mortgages – self declare income, no credit score, no debt service ratio, 40 yrs amortization, fully open
  • Co-op lending up to 70% of the property value

 As a thank you to our clients who will use our services in 2013, we wish to offer each one of them a gift, of

 their choice:

             §  a cosmetic treatment with a skin care professional for ladies

             §  a family photo session with a professional photographer, including a photography package

             §  an in-home design consultation with a professional interior designer

             §  a portrait in acrylic on canvas made after a photograph

 Our contribution to making this world a better place: a portion of our commission on each transaction is    is donated to Pro-Vita Association for the Children’s Rights

 

   Quick links 

 rate report
 rent/buy calculator   
 smart mortgage calculator     
 industry news 
 financial news

mortgage basics

Spring Survey Stats 

 On average people are not becoming mortgage free until the age of 57;  

 Over 50% of Canadians expect to have a mortgage after retirement;

 

 50% of Canadians added non-mortgage debt after they bought their last home;

 

Conclusion - Lack of planning

If 50% of Canadians are adding very expensive non-mortgage debt after they just made a home purchase, then they likely didn't receive very good coaching prior to their purchase.  if you build in a contingency fund that allows for these expenses, you won't end up putting it on your credit card at 17% interest.

Creating a realistic budget with allowances for those unexpected surprises, and utilizing products like purchase plus improvements, or a cash back mortgage can be a great way to avoid expensive non-mortgage debt. 

Both products are offered by many lenders, but get very limited use, especially when compared to the 50% who are racking up debt on other more expensive credit products.

 

 

 
 

 

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Stefania Patraulea

Stefania Patraulea

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
Contact Me