Mortgages by Steve FSCO# M20001603

If you are a first time home buyer, the Federal government has a program to help you get into the housing market without increasing your down payment. Check out this link, and always remember I'm here to help you achieve your home ownership goals. https://www.placetocallhome.ca/

Did you know…..

The mortgage stress test designed by the federal government to qualify consumers set the rate at 5.25% or the actual rate plus 2% whichever is higher.

Today that means the 5.25% is no longer relevant as it is now the lesser.

There are lenders that will qualify at lower rates but will have a premium attached to the term.

Call me today and let me show you how I can help.

Happy Passover and Happy Easter to all my friends, clients and their family.

I’ve partnered with Alarm Guard and you can receive a free smart home security system. Click on the link for more details https://agalarm.com/fishman

AG Partner

Rates are increasing...should you take a variable or fixed. Here is an argument for the Variable.

For example:

Insured Mortgage Amount of $525k

5yr Fixed Rate of 3.79% = a monthly payment of $2,702.17
5yr VRM Rate of 1.60% (P-1.10% @ Prime of 2.70%) = a monthly payment of $2,123.10
This is a monthly savings of $579.07

However, we all understand that Prime may increase. So let’s take a look at that monthly payment with a few increases to Prime … Remember the discount remains of -1.10%

Prime @ 3.20% = $2,248.53
Prime @ 3.45% = $2,312.79
Prime @ 3.70% = $2,378.05
Prime @ 3.95% = $2,444.31
Prime @ 4.20% = $2,511.56
Prime @ 4.45% = $2,579.78
Prime @ 4.70% = $2,648.96
Prime @ 4.95% = $2,719.08 ($16.91 more than original fixed payment)

With a 2% increase to Prime, they are still $53.21 LESS per month on their monthly payments, then original 5yr fixed payment at time of close.
If you have any questions I’m here to help.

Mortgage Facts:

Prime rate increased by .25% today.
This is the first increase in approximately 2 years.
The Bank Prime Rate is now 2.7% from 2.45%

If you are in a variable mortgage your mortgage payment will increase by approximately $12 for every $100,000.

The 5 year fixed term rate has increased by a full 1% in the past 12 months.

Todays best 5 year fixed rate is 3%
The best variable rate is 1.7%
The difference in the rates calculate out to $85 in payment reduction for every $100,000 of mortgage balance. If you have a $500,000 mortgage this works out to $425 per month.

Economic Influencers Today include:

A Pandemic
Global Warming
Ukranian Invasion
Real Estate Price Increases

Some take the 5 year fixed rate and will sleep better at night.

There is no right or wrong. Do what feels right for you. If you are in the market for a mortgage, or just looking for professional advice, I’m here to help. www.Stevenfishman.ca

Did you know that dealing with a mortgage professional gives you access to over 80 different lenders. If you have good credit, or bad credit, I can find you the right mortgage to fit your needs. With interest rates set to rise in the next few months, now is the time to buy that house of your dreams, or to refinance your current property. Let me show you how I can help you achieve your goals.https://stevenfishman.ca/mortgages/benefits-of-using-a-mortgage-professional/

Benefits of Using a Mortgage Professional - Dominion Lending Centres There are generally two ways to get a mortgage in Canada: From a bank or from a licensed mortgage professional.

When selecting the type of mortgage, you can choose between a fixed rate or variable rate. Click on the link to find out which type of mortgage is good for you. If you have any questions, I'm here to help. https://stevenfishman.ca/home-purchase/fixed-rate-vs-variable-rate/

Fixed Rate vs. Variable Rate - Dominion Lending Centres The decision to choose a fixed or variable rate is not always an easy one. It should depend on your tolerance for risk as well as your ability to withstand increases in mortgage payments.

Learn the advantages of using a Mortgage Professional over just going into your local bank. click on this link to learn more https://stevenfishman.ca/mortgages/benefits-of-using-a-mortgage-professional/

Benefits of Using a Mortgage Professional - Dominion Lending Centres There are generally two ways to get a mortgage in Canada: From a bank or from a licensed mortgage professional.

Are you a first time homebuyer? Are you looking to refinance your current property? Do you have good credit or bad credit? Let me help you by getting you the best interest rate, and mortgage terms possible. As an added bonus, I've partnered with a security company, and I'm pleased to offer you a home security system to further protect your investment at no cost to you upon the closing of your home. Certain conditions apply. Visit my website at www.stevenfishman.ca

Looking for a mortgage? How about a line of credit to renovate your home? Are you a first time buyer? Let me show you how I can get you the right mortgage at the best rate possible. As an added bonus, I've partnered with a local security company to give all my clients a no cost security system upon the closing of your house. (certain conditions apply) Drop me a line today, or visit my website at. www.stevenfishman.ca

Welcome - Dominion Lending Centres There are generally two ways to get a mortgage in Canada: From a bank or from a licensed mortgage professional. While a bank only offers the products from their particular institution, licensed mortgage professionals send millions of dollars in mortgage business each year to Canada's largest banks,....

The Bank of Canada is holding their interest rate at 0.25% for the 5th time in a row. That's great news for those looking to get a mortgage within the next few months. The economy is growing but not at the rate expected due to the continued restrictions in certain parts of Canada due to the Pandemic. However as businesses start to reopen, and things get back to normal, interest rates will start to increase, so now's the time to start looking for your dream house. As a licensed mortgage agent working for one of Canada's leading mortgage brokers, let me help you secure that mortgage. I have access to all types of lenders. If you have amazing credit, good credit, or even bruised credit, I can get you the mortgage that suits your needs. https://stevenfishman.ca/about/contact/

Contact - Dominion Lending Centres Have questions or comments about the services we offer? Please use this form to send us an email. Our staff are always happy to provide you with the answers you need.

With interest rates on the rise, now's the time to refinance your current mortgage. If your mortgage is set to renew in 2023 or 2024, let me show you how I can save you money. Visit my website at www.stevenfishman.ca or message me for more details.

Changes to the Mortgage Stress Test coming June 1st, 2021...

Effective June 1st it will be harder to qualify for a mortgage or refinance. You still have time to get that mortgage before it becomes harder to qualify.

Apply today by clicking on the link below, and let's get you that mortgage before it's too late.

https://stevenfishman.ca/mortgages/how-to-apply/

Apply Now Applying for a mortgage couldn’t be easier. Just complete our secure application and we will be in touch shortly.

Keep up to date with mortgage rates, and other fun stuff by downloading my mortgage toolbox. Available from the App Store and Google Play. https://www.dlcapp.ca/app/steven-fishman?lang=en

Download My Mortgage Toolbox - Steven Fishman Download My Mortgage Toolbox and get access to all premium tools to help plan your mortgage.

https://youtu.be/8eIbm-CFTrs A great video on how to pay off your mortgage faster.

Keep on top of current mortgage rates by visiting my website. Now is the time to buy that dream home, renovate your current home, or purchase that vacation property. I'm here to help you achieve your goals. https://stevenfishman.ca/mortgages/current-rates/

Current Rates View Our Current Rates

Interest rates are starting to edge up slightly, so now's the time to lock in your interest rate. If you have excellent credit, to poor credit, I can get you the best rates available. Drop me a line or visit my website at https://stevenfishman.ca/home-purchase/fixed-rate-vs-variable-rate/

With rental rates on the rise all across Ontario, the price you pay in rent could be going towards a mortgage. Let me show you how to turn your rental payments into mortgage payments. Stop paying your landlords mortgage. Drop me a line, and remember my services don't cost you a cent. https://stevenfishman.ca/about/contact/

Download My Mortgage Toolbox for free from the App store and Google Play Store. Find out what you would qualify for, and get all the latest mortgage rate updates sent right to your phone. https://www.dlcapp.ca/app/steven-fishman?lang=en

Download My Mortgage Toolbox - Steven Fishman Download My Mortgage Toolbox and get access to all premium tools to help plan your mortgage.

Mortgages by Steve FSCO# M20001603 updated their website address.

Do you have a high interest rate mortgage, and are looking to lower your monthly payments? Is your mortgage coming up for renewal, and your bank is still not offering you a good interest rate? If so drop me a line, and let me show you how I can save you hundreds of dollars a month. https://stevenfishman.ca/about/contact/

Did you know that it costs you, the borrower nothing for my services. With interest rates at an all-time low, now's the time to get the perfect mortgage. https://stevenfishman.ca/mortgages/mortgage-professional-cost/

How Much Does it Cost Mortgage professionals work for you, and not the banks; therefore, they work in your best interest.

With mortgage rates at an all-time low, now is the time to apply for your mortgage or LOC. Drop me a line or apply on my website. https://stevenfishman.ca/mortgages/how-to-apply/

With interest rates still at an all-time low, now the time to buy or refinance your mortgage. Let me show you how to get you into the house of your dreams, and save you money. Visit my website at https://stevenfishman.ca/mortgages/current-rates/

Current Rates View Our Current Rates

Besides offering mortgages, I can also offer credit cards, HELOC, Insurance products, loans, and so much more. Check out my new website at www.mortgagebysteve.ca

https://youtu.be/8eIbm-CFTrs

DLC - Tips for Paying Your Mortgage Faster

Why use a mortgage professional? Click on the link below to find out why https://stevenfishman.ca/mortgages/benefits-of-using-a-mortgage-professional/

Benefits of Using a Mortgage Professional There are generally two ways to get a mortgage in Canada: From a bank or from a licensed mortgage professional.

Low interest rates won't last forever. Now's the time to get the mortgage that's right for you. Let me show you how you can save money, and get you the right mortgage.

Download My Mortgage Toolbox and get access to all premium tools to help plan your mortgage. Click here to download the app. https://www.dlcapp.ca/app/steven-fishman?lang=en

Download My Mortgage Toolbox - Steven Fishman Download My Mortgage Toolbox and get access to all premium tools to help plan your mortgage.