Blog entries

STRONG HOME SALES AND HST

dan — Fri, 14 May 2010 05:57:14 +0100

By Tony Dhami

Verico Designer Mortgages

I don’t know if anyone has noticed, but there are a lot of "For Sale" and "Sold" signs out right now. We have a very active real estate market in the Greater Hamilton-Burlington area. Statistics from the REALTORS® Association of Hamilton-Burlington Multiple Listing Service® (MLS®) are showing that March was a record-breaking month for the number of new listings taken and we were close to a newRead More...

ACCELERATE YOUR MORTGAGE PAYMENT AND REDUCE YOUR DEBTS

dan — Fri, 14 May 2010 05:56:51 +0100

By Tony Dhami

Dealing with debt by accelerating your mortgage payments can be a very smart, efficient, and successful way of paying down your mortgage, while paying less in interest.

There are a couple of ways to do this effectively. First, commit to the lowest amortization period you can while still being able to make the payments and qualify for the mortgage amount you require. The lower your amortization period Read More...

HST AND NEW HOMES SALE

dan — Fri, 14 May 2010 05:56:20 +0100

By Tony Dhami

On July 1, 2010 HST will replace GST on New Home Purchases. However, there is a phase in period that must be understood in order to accurately budget for your new home.
If the date of purchase contract is on or before November 18, 2009, GST (5%) will be applied with the same exemptions as have previously been stated, regardless of completion date. If the purchase is made (contract signed) after November 18, 2009, GST (5%) will be applied ONLY if completion is Read More...

Tackling Debt A Growing Priority

dan — Fri, 14 May 2010 05:55:48 +0100

By TONY DHAMI
Verico Designer Mortgages Inc

More Canadians are heeding the interest-rate warnings and focusing on curbing their debt loads in 2010.

A Manulife Financial poll released Tuesday found that paying down credit cards and lines of credit is growing as a financial priority among Canadians. In fact, more than a quarter, 28 per cent, pegged debt elimination as their main goal, up from 24 per cent in 2009 and a five-year high.

The reRead More...

Help Your Debts By Accelerating Your Mortgage Payment

dan — Fri, 14 May 2010 05:55:22 +0100

By TONY DHAMI
Verico Designer Mortgages Inc

Dealing with debt by accelerating your mortgage payments can be a very smart, efficient, and successful way of paying down your mortgage, while paying less in interest.

There are a couple of ways to do this effectively. First, commit to the lowest amortization period you can while still being able to make the payments and qualify for the mortgage amount you require. The lower your amortization period is (25 years veRead More...

What to Look for in a Mortgage Lending Company

dan — Fri, 14 May 2010 05:54:57 +0100

Written By Tony Dhami

www.topnegotiator.ca
www.hamiltonmortgagebrokers.ca

Type "mortgage lending company" into any search engine and thousands of results appear. Given this, how do you know what to look for in a mortgage lending company? Following are some guidelines:

Tip #1: What to Look for in Mortgage Lenders: Canada.

Comparison Shop. Comparison shopping gets you familiar with what to expect as far as interest rates, loan products aRead More...

INFO ABOUT PRIVATE MORTGAGE LENDERS

dan — Fri, 14 May 2010 05:54:24 +0100

Written By Tony Dhami
www.topnegotiator.ca
www.hamiltonmortgagebrokers.ca

Private mortgage lenders are likened to angel investors by some. They are similar because they usually provide short-term loans for asset-backed investments, e.g., land, property.

As the hard asset is the collateral, private mortgage lenders don´t lend based on a borrower´s credit. There are many different types of private mortgage lenders. However, following are some things they aRead More...

SELF EMPLOYED MORTGAGE WITH NO PROOF OF INCOME

dan — Fri, 14 May 2010 05:53:47 +0100

Written By
Tony Dhami
Verico Designer Mortgages Inc
www.hamiltonmortgagebrokers.ca
www.topnegotiator.ca

You work hard, you make good money, you have a good credit history, you're independent, you're successful but you're self employed and you can't get a mortgage from the major banks. Right? Wrong?
Over 20% of Canadian income earners are self employed, business for self or are 100% commissioned. With this large of a segment of the population workinRead More...

IS PRIVATE MORTGAGE FOR YOU ?

dan — Fri, 14 May 2010 05:53:20 +0100

HAMILTON'S PRIVATE MORTGAGE SPECIAL REPORT
• Do you need an 'unconventional' mortgage for a residential or mixed use property?
• Are you purchasing a 'nonconforming' property and have been told it can't be financed?
• Have you been turned down by a bank, or several banks, due to any number of reasons?
• Do you need financing fast and you can't wait for the bank to make up their mind?
• Are you being treated badly because you have bad credit, unverifiable incomeRead More...

Why People Borrow From Private Lenders ?

dan — Fri, 14 May 2010 05:52:48 +0100

Written By Tony Dhami
Verico Designer Mortgage

Every day more people are bypassing the traditional lending routes and turning to private lenders to finance their investments. It’s true, traditional government regulated lending typically offers lower interest rate (though the difference is negligible) the benefits of private lending often far outweigh the difference.

Traditional, government regulated, lending requires borrowers to meet minimum income requiremeRead More...

HOME MORTGAGE DEAL OF A WEEK

dan — Fri, 14 May 2010 05:45:26 +0100

Written By Tony Dhami

Here is this week's HOME DEAL OF THE WEEK:

Deal Purpose:
-Refinance to payout first and second mortgages and consolidation.

Employment: Primary applicant: 19 years, salaried
Secondary applicant: Not working (Homemaker)

Residence: 4 years as homeowners
TDSR: 42.55% (GDS is not considered)

Property: Owner occupied in Brampton

Credit:
Primary Applicant: Beacon 512

Read More...