Andrew Rodney, Mortgage Professional

Can you imagine holding a mortgage for over 1000 years? Well, in 2016, a couple in the United Kingdom did. Their mortgage spanned an incredible 1,530 years, setting a new record for the longest mortgage ever recorded.

This unique mortgage structure was possible due to the nature of a land trust that ensured the property would remain in the family for generations to come.

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A commercial mortgage involves financing income-generating properties rather than residential homes, such as retail plazas, shopping centers, multi-unit residential buildings, and office or industrial spaces. These loans are typically larger and secured by registering the mortgage on the property's title.

Lenders evaluate the property's appraised value and monthly income to decide the loan amount approved for the owner, which is often a business or corporation.

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416.991.6854

Today is a chance to celebrate what makes our communities special in Alberta, British Columbia, Saskatchewan, Ontario, New Brunswick, and Nunavut.

Whether it's exploring local markets, attending cultural events, or simply spending time with friends and family, Civic Holiday is a day to embrace our civic pride.

What are your plans for today?

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416.991.6854

Curious about what interest rates you might qualify for when applying for a mortgage? Interest rates can vary based on several factors, including your credit score, the size of your down payment, and the type of mortgage you choose.

Generally, higher credit scores and larger down payments can secure lower interest rates. To get a clearer picture of what rates you might qualify for, consult Zolo Mortgages and we can guide you through the process and find the best options for your financial situation. Stay informed and make confident decisions about your home financing!

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416.991.6854

Looking to give your living space a fresh new look without breaking the bank? Focus on window treatments! From new curtains to blinds and shades, there are many budget-friendly ways to give your home a new look.

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416.991.6854

A collateral charge is a way to secure a mortgage or loan against your property. Unlike a standard mortgage, a collateral charge is re-advanceable, allowing the lender to lend you additional money after closing without the need for refinancing or paying a lawyer.

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416.991.6854

Are you a passionate and experienced mortgage broker looking for an exciting new opportunity? We want YOU to join our dynamic team!

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416.991.6854

Happy International Self-Care Day!Today is all about celebrating the importance of taking time for ourselves. Whether it's a quiet moment with a book, a walk in nature, or a relaxing bath, self-care is essential for our mental and physical well-being.

Remember, you can't pour from an empty cup. Prioritize your well-being today and every day.

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416.991.6854

🏡 Dreaming of owning your own home? Hiring a professional mortgage broker can make that dream a reality! Here’s how:

Expert Guidance: Mortgage brokers are industry experts who navigate the complex mortgage landscape with ease, helping you find the best rates and terms tailored to your needs.

Access to More Options: Brokers have access to a wide range of lenders and mortgage products, including those not available to the general public. This means more choices and better chances of finding the perfect mortgage.

Time-Saving: Leave the legwork to the professionals! A mortgage broker will handle all the paperwork and negotiations, saving you time and stress.

Tailored Advice: A good broker understands your financial situation and future goals, providing personalized advice to ensure you make the best decisions.

Negotiation Power: With their in-depth knowledge and industry connections, brokers can often negotiate better deals than you could on your own.

Ongoing Support: Your broker is there for you throughout the entire process, from pre-approval to closing, ensuring everything goes smoothly.

Ready to take the first step towards homeownership? Contact us today– we will help turn your house-owning dreams into reality!

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416.991.6854

There's nothing quite like the excitement of being approved for a mortgage! It's the first big step towards turning your dream of homeownership into reality.

Knowing that you’re on the path to having your own place, where every room and corner will be filled with your personal touch, is an amazing feeling. Cheers to new beginnings and endless possibilities! 🏠🔑

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416.991.6854

The MLS® Home Price Index (HPI) by the Canadian Real Estate Association (CREA) tracks home prices across Canadian neighbourhoods, enabling easy comparisons over time and between regions without focusing on specific property features. Unlike fluctuating market prices, the HPI provides a stable, long-term view of trends and is reviewed annually in May to adjust for market changes.

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416.991.6854

Canada's housing market had a robust spring in 2024, with record-high prices in some provinces. The national benchmark home price was $735,900, up 0.8% monthly but down 0.9% year-over-year.

Alberta, Saskatchewan, and New Brunswick hit record benchmark prices, while the average home price in Canada was $703,446, up 0.7% monthly but down 1.8% year-over-year.

Nationally, there were 37,745 seasonally-adjusted home sales, a 1.1% year-over-year decrease and a 3.1% drop from March. Actual home sales rose 10% year-over-year to 48,836. New listings increased 2.8% month-over-month, and active listings grew 6.5%.

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416.991.6854

When talking to your mortgage broker, ask these key questions to find the best lender for your financial situation:

Personal Fit: You: "Given my income, debts, and credit score, which lenders are best for me?"

Comparison: You: "Can you compare different lenders' interest rates, fees, and loan terms?"

Loan Types: You: "What types of loans do these lenders offer, and which is best for me?"

Reputation: You: "What can you tell me about the reputation and customer service of these lenders?"

Special Programs: You: "Are there any special programs or incentives I might qualify for?"

Flexibility: You: "How flexible are these lenders if I need to refinance or modify my loan later?"

These questions will help you choose the best lender for your needs.

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416.991.6854

Did you know? Most mortgages in Canada have a term length of five years or less, with only 15.9% of new mortgages in July 2023 having a term of five years or more. This means many Canadian households are continually renewing their mortgages, making them more vulnerable to changes in interest rates. Stay informed and plan ahead!

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416.991.6854

Ready to turn your dream of owning a home into reality? Zolo Mortgages is here to help! With expert advice and access to competitive rates, we'll guide you every step of the way. Let's make your homeownership dreams come true!

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416.991.6854

Yes, in Canada, you can refinance your mortgage without breaking it. This process, often referred to as a "blend and extend" refinance, allows you to renegotiate your interest rate and term while incorporating your existing mortgage balance with a new one, all without incurring penalties for breaking the mortgage.

This can be an efficient way to access your home equity or lower your borrowing costs without the hassle of a full mortgage renewal.

💡 Tip: Always compare lenders and terms to find the best deal for your situation. Refinancing can save you money and give you financial flexibility!

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416.991.6854

Planning on purchasing a house in the near future? If you are, keep in mind there are rules for mortgages and down payment sources–not only will you need to demonstrate that you can afford the mortgage, but you’ll also need to show your lender where your down payment funds are coming from.

The table below outlines the minimum down payment requirements for insured mortgages in Canada. A down payment under 20% necessitates mortgage default insurance, adding to your costs. Lenders may require a 20% or higher down payment, with the first 5 to 10% typically needing to come from your own funds.

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416.991.6854

Happy Canada Day! Celebrating our beautiful country's rich history and diverse culture. Enjoy the day with family, friends, and the great outdoors. Cheers to our home and native land!

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416.991.6854

The journey to selling a home can be lengthy, but you can boost your home's value by taking budget-friendly measures.

Not all improvements are cosmetic; issues like deteriorating roofs or outdated electrical systems need addressing. Hiring an inspector to examine areas you don't typically see can reveal hidden problems that could decrease your home's value. Small issues, such as unnoticed water leaks, can quickly escalate into significant, expensive repairs if left unattended.

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416.991.6854

Negative equity arises when the value of an asset you own falls below the remaining balance on your loan. This might seem unusual, as lenders typically only finance up to the asset's current value.

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416.991.6854

Planning home improvements but worried about the costs? Good news! As your mortgage broker, I can help you explore upgrades under $100. From minor repairs to fresh paint, small changes can make a big difference.

Let’s discuss how to make your home even better without breaking the bank. Reach out today for tailored advice and options!

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416.991.6854

Cheers to the first day of summer! ☀️ Ready to make your homeownership dreams shine brighter than ever? Let's kick off the season by finding the perfect mortgage fit for you.

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416.991.6854

In today’s economic climate, getting a mortgage can feel like jumping through hoops. With rising interest rates and stricter lending criteria, the path to homeownership has become more challenging. But don’t lose heart, we are here to help you understand the process and before you know it, you'll be unlocking your new front door.

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416.991.6854

Entering the real estate market now offers several advantages. Rising home prices could price you out of desired neighbourhoods, while postponing also delays equity building and potential property appreciation.

Additionally, tax benefits and the security of homeownership further incentivize taking action now. Waiting risks missing out on opportunities and benefits in a dynamic market, so don't hesitate – seize the moment and start your real estate journey today! 🏡

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416.991.6854

As a mortgage broker, you'll help people achieve their homeownership dreams by supporting them through the mortgage process. It's a rewarding career that offers flexibility, potential for growth, and the opportunity to make a positive impact on others' lives. Ready to embark on a new journey? Call us today or go to the link below! 🏡💼

https://shorturl.at/ceAZ7

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416.991.6854

Did you know that houseplants not only add aesthetic appeal to our living spaces, but they also improve indoor air quality? With various household items emitting harmful toxins, indoor air pollution is a real concern.

These leafy roommates act as natural air purifiers, absorbing harmful toxins and releasing oxygen, thus freshening up the air we breathe.

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416.991.6854

You wouldn't settle for the first car you see without comparing, right? Similarly, it's crucial to compare mortgage options! Mortgage interest rates vary, just like car prices, and so do closing costs and other homeownership aspects.

Let us shop around for you and find the right solution for your financial situation.

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416.991.6854

Big news from the Bank of Canada!

They just announced a new rate that could impact all variable mortgages and unsecured loans. Stay informed and plan ahead, read the full article here:

https://www.bankofcanada.ca/

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416.991.6854

Monthly expenses on energy might appear fixed, but numerous local utility companies offer complimentary energy audits for their clients' residences. These audits can unveil ways to optimize your home's energy efficiency. A more energy-efficient home not only saves you money presently, freeing up funds for other improvements, but also enhances its long-term value and marketability.

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416.991.6854