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Archive for May, 2010

Sarah Hurson; Mortgage Agent Profile

Friday, May 21st, 2010

Sarah Hurson, Mortgage Agent#09002165

Sarah began investing in property in 2001 with the purchase of her first home.  Since then her and her husband have acquired 13 properties.  Some of them good investments; and some of them what she likes to consider “part of our learning curve”.  Sarah was frustrated with the management of her Mortgage portfolio; and so she decided to take control and become a licensed Mortgage Agent, so that she could not only manage her own portfolio but also help others using her experience.

Sarah specializes in mortgages for Multi-plex residential, commercial, and investment properties.  However she has also gained quite a good reputation for working with people who do not have perfect credit, and require extra help placing a mortgage that may otherwise not be possible through the traditional banking channel.

If you are looking at any type of investment property Sarah will prepare for you a complimentary financial assessment and ROI calculation demonstration on the property.

If you have “bruised” credit and are having trouble getting a mortgage through traditional channels call Sarah, she will not rest until she has exhausted all possible solutions for you.  Plus she will provide you with free credit repair advice!

Contact Sarah today via Phone        1-866-712-3943

or email                                                sarah@dropmyrate.ca

HST and how it will affect buying or selling a Home

Tuesday, May 18th, 2010

How will HST affect Buying or Selling a Home in Ontario as of July 1st?

The new tax will take effect on July 1, 2010.  The HST tax will effectively combine the Provincial Sales Tax of 8% percent with the Federal GST Tax of 5% percent, to create a new “harmonized” total tax of 13% percent. This new tax will be applicable to many real estate services which hitherto only had one or the other tax applied.

-          there is no HST tax payable on the sale of a resale home (residential).

-          home buyers and sellers will have to pay extra tax on a range of services associated with the real estate transaction: services such as legal fees, moving costs, real estate commissions and home inspection fees. Currently, consumers only pay the 5% Goods and Services Tax (GST) on these services.

In a nutshell, after July 1, 2010, if you are a seller, there will be a 13% percent tax payable on the real estate commission you pay – currently there is only the 5% percent GST payable on this fee. Your lawyer’s fee will also be subject to the 13% percent HST.

If you are a buyer, any Home Inspection you pay for will be subject to the 13% percent HST. And so will the cost of movers hired. In addition, the cost of the CMHC premium for “high-ratio” mortgages has traditionally been taxable for PST – this amount will now be taxable for the full 13% percent HST.

How will the Real Estate Market React?

It will be interesting to see what the new HST tax does to our Housing Market in Ontario.  Certainly affordability is going to be affected as legal fees, home inspection fees, mortgage insurance premiums, and real estate commissions will cost more.  Add into the fact that the interest rates are on the rise, our market will inevitably be affected.

WHAT DO YOU THINK???  Please join the discussion below!

Rent to own Programs

Thursday, May 13th, 2010

If your credit, income & debt situation places you just out of reach of qualifying for a mortgage a Rent-to-Own Program might be the perfect solution for you!

How does the process work?

First a qualified Mortgage Specialist will complete a Free, Confidential, Financial Assessment on your situation to determine how close you are to getting your own mortgage.

A report will then be prepared (free of charge) to give you a step by step plan of action, including a timeline, to show you what needs to be done to qualify for a mortgage with as little as 5% down payment.

If you qualify for your own Mortgage, you will continue to work with a Mortgage Specialist.  However if you are a good candidate for the Rent-to-Own program, we will then put you in touch with a Rent-to-Own Specialist.

We are then involved during the Rent-to-Own program to help you qualify for the House you are Renting-to-”Own”.  When your goals are satisfied our Mortgage Specialists will help you complete the transaction to BUY THE HOUSE ON YOUR OWN!

But what is a Rent-To-Own Program?

There are various ways that Rent-to-Own programs work, but generally what happens is that you are required to put down a “Deposit”, and then a portion of your Rent payments each month go towards your Down Payment (as well as the initial deposit).  The goal then is that in 1 or 2 or 3 years time your down payment of 5% is already saved, and you can buy & take title to that house on your own.

One of my favorite Rent to Own Programs is Huntmore Investments

For more information please contact us at                     1-866-712-3943

or via email                                                      mortgages@dropmyrate.ca

CONTACT US TODAY TO FIND OUT IF YOU ARE ELIGIBLE FOR THIS PROGRAM!

What Mortgage Options are Available if you have Bad Credit?

Monday, May 10th, 2010

Bruised Credit?  Previous Bankruptcy?  Items in Collections?

There are mortgage solutions available to you with as little as 15% down (equity).

New purchases

Refinancing

Mortgage Renewals

FREE CREDIT REPAIR ADVICE

Not only do we offer mortgage solutions, we also offer free Credit Repair advice.  You will receive free of charge a complete analysis of your current financial situation and a step by step plan of how to repair your credit.

Contact one of our Mortgage Professionals today to get started!

Complete the confidential comment form below, or use our Contact Page,

Toll free 1-866-712-3943

email    mortgages@dropmyrate.ca