Mortgage rates and rules are continuously changing, and mortgage financing is therefore becoming more complicated. What was easily approved just a year ago may not be today. There is no better time to use a Mortgage Agent and benefit from our expertise and reputation to get the best deal for you. We search over 25 lenders promotions and products to get you the best rate, terms and options for your situation. Get in touch with us today to speak to one of our experienced agents.

Getting a mortgage through the pandemic can be challenging, especially with the number of rules and restrictions that were playing around. Furthermore, with many people losing their jobs or taking time off work, it was challenging for mortgage agencies and financial institutions to be certain they would receive a return on their investment.

Happy Holidays from Chris Carvalho - The Mortgage Professionals. Wishing you a joyous and safe holiday season and a Happy New Year 2022!

Let’s face facts, purchasing a home for the first time is a powerful statement and a feeling of great accomplishment. While it is a proud moment for many of us, the luxury of owning a house comes with heavy costs, one of them usually involves repaying a mortgage.

Most Canadians at some time in their lives have probably asked themselves whether it is better to rent or buy a home.

Purchasing a home is one of the biggest decisions most people ever make in their lives. Ultimately, it is a personal choice. But it helps to look at the pros and cons of buying to determine whether home ownership is right for you.

A credit report is a history of how consistently you pay your financial obligations. It is created when you first borrow money or apply for credit and is built over time.

The companies that lend or collect money or issue credit cards (banks, finance companies, credit unions, retailers, etc.) send credit reporting agencies specific and factual information about their financial relationship with you. Details, such as when you opened up your account, timeliness of your payments and if you have gone over your credit limit are shown in full.

OWNING YOUR OWN HOME IS AN EXCITING PROPOSITION. BUT BEFORE YOU CAN KNOW WHETHER HOMEOWNERSHIP IS RIGHT FOR YOU, IT’S IMPORTANT TO UNDERSTAND WHAT’S INVOLVED.

The first thing any prospective homebuyer needs to do is determine whether they can afford to buy the home they want.

1) Get independent advice on your financial options

As independent mortgage agents and mortgage agents, we’re not tied to any one lender or range of products. Our goal is to help you successfully finance your home or property. We’ll start by getting to know you and your homeownership goals. We’ll make a recommendation, drawing from available mortgage products that match your needs, and we will decide together on what’s right for you.

Looking for a home can be an intimidating task filled with many questions. What home do I buy and where? Who do I go to for help? And how do I know if I am making a good purchase?

There’s no one “right way” to go about finding a home. But here are a few tips that may make the process a little easier and remove some of the anxiety associated with making what is, for most people, their largest single purchase in life.

Buying a home is a somewhat complicated transaction that involves a number of professionals who all perform different functions during the purchase process.

1) Determine how much you can afford

Based on your down payment, income, existing debt, regular expenditures, and other key financial information, we can help you determine how much you can afford to pay every month and the price range that works within your budget.

1) Know why you really want to go

Some reasons are obvious, such as the need to sell if you’re moving to another city or putting in an offer on a new home. Other needs may be less definite, such as outgrowing your space or concerns about cash flow. By working with a mortgage professional, you can assess financing options and the costs of moving against the costs of staying and make the best choice.

1) Property tax

Many of the services you’ll enjoy in your new neighbourhood, from parks and recreation facilities to road maintenance and schools, are funded in part by municipal property taxes. Rates vary widely, from region to region and home to home. Annual taxes can top several thousand dollars in urban centres, so some homeowners opt to pay in installments — your lender may provide an option to combine these with your mortgage payments.

When you apply for a mortgage loan, the mortgage planner will ask you to complete a loan application. The application shows information about the type of mortgage loan you’re applying for, as well as your personal financial situation.

1) What are the neighbours like?

Take time to get a feel for the locals and how you might fit in. Does the area attract empty nesters and retirees, for example, or is it characterized by young families? A real estate professional can help inform you about demographic trends.

1) Land transfer tax

When a home changes hands, many provinces and a few municipalities charge a property transfer tax or title transfer fee. Rates are usually on a scale of 0.5% to 2% of the home’s value and can add thousands to your purchase price. First-time homebuyers qualify for rebates or exemptions in some provinces.

1) Go green, underfoot

If you’re thinking of installing a hardwood floor, consider reclaimed materials or look for new wood products that are certified by the Forest Stewardship Council (FSC) Canada. You could also use more readily renewable materials such as cork, bamboo, or carpets made from natural fibres.

1) Conduct an energy audit

If you’re serious about improving your home’s energy conservation, start with an energy audit by an NRCancertified energy advisor — you can search for an advisor in your area at www.nrcan.gc.ca. You’ll get a list of recommended upgrades to help you plan, and you may qualify to receive up to $5,000 in federal ecoEnergy grants. According to Natural Resources Canada, the average retrofit may yield a 30% reduction in energy use.

Did you know that the majority of first-time homebuyers are Millennials? That’s right; Canadians born between 1980 and 1995 now represent a full 77 per cent of first-time homebuyers. If you fit the mold, then get a leg up on the competition as we enter the year’s hottest real estate month. Here are our five top tips for first-time homebuyers.