Lend by Design Mortgages

27% of Canadians allow their mortgage to renew automatically. You could be saving thousands by connecting with a mortgage broker. It would be best if you took advantage of the early renewal option, which allows you to renew early without any penalties. This option could save you interest costs if rates rise before your regular renewal date.

Do you have a mortgage renewal coming up in the next six months?
If yes, it’s an excellent time to consider three key points before renewing your mortgage:
1. How will the rising interest rate affect your monthly payment? Consider re-amortization = extending the payoff period in exchange for a lower monthly payment and/or adding the option of a lump-sum payment = a payment that goes directly to the principal.
2. Consolidate other high-interest loans into your mortgage. This move will actually lower your monthly debt payments.
3. Lock your home’s value with a Home Equity Line Of Credit (HELOC). With that, you can access up to 65% of your home’s value to buy a second property, renovations, or on a rainy day.

Contact me today for more details.

Ready and on my way to celebrate women, on this day and every other day as well!

Attention all Canadians! Bank of Canada announced today that they will hold the key rate at 4.50%. The prime rate lenders use to set their mortgage rates will remain at 6.70%.

Now is a great time to discuss potential opportunities for buying or refinancing in this current market. Reach out today to see how I can help with all your home dreams!

Get in touch today.

Happy Valentine's Day! ❤️

It's officially RRSP season! Are you making the most of your retirement savings? Consult with a financial advisor to determine the best options for you and start making contributions because your RRSP could help you achieve your home dreams. Did you know that you can leverage your RRSP for your home purchase? With the Home Buyers' Plan, you can withdraw up to $35,000 from your RRSP for a down payment on your first home. Lend by Design can help you navigate the process and ensure you're making the most of your RRSP!

2023 has started with some major to the housing and real estate legislation changes. These changes help address housing affordability and get more people into homeownership! DM me today, for a chat on for how I can help you navigate through these recent changes.

Check out the link 🔗 in bio, and be in the know 👀

Legislation changes;
- Anti-flipping Tax
- Toronto Vacant Home Tax
- More Homes Build Faster Act
- Interest-free Student And Apprentice Loans
- Foreign Homebuyer Tax
- Non-Resident Speculation Tax (Ontario Only)
- BC Homebuyer Rescission Period

Inflation dips to 6.3% in December 2022.

Canada's CPI Inflation increased 6.3% in December from a year ago, which is down from the peak of 8.1% in June and 6.8% in November. This is a move in the right direction, but still a ways off from the Bank of Canada's 2% target rate.

This change will affect the Bank of Canada's decision to either hold or hike their key policy rate tomorrow, January 25th.

Current Bank of Canada key policy rate: 4.25%
Current Prime Rate: 6.45%
Stress Test qualifying rate: 2% plus contract rate
Bank of Canada rate announcement is tomorrow, January 25th.

Follow me for more updates!

How Can I Help?

The question I often get is, "How Much Can I Afford?".

I can help you determine how much you approve for, plus I'll factor in a few additional calculations to help you understand how much you can afford to purchase, like:

- Rainy day fund for those unexpected costs that pop up from time to time.
- Disposable income is needed to maintain your quality of life.

For more information and resources on securing your mortgage, check on my BIO for more info or DM me for a chat today.

A N N O U N C E M E N T 📣

Here is the list for Bank of Canada Announcement Dates. The first announcement will be tomorrow. 📅

Questioning what this means for you? Contact me for more information! I can point you in the right direction ➡️

For more information and resources on securing your mortgage, check on my BIO for more info or DM me for a chat today.

👀 What does a Renewal mean for mortgages? What do you need to consider when it’s time to renew? What are your options?

I can help you navigate your renewal and offer you the best advice and opportunities that best suit your needs!

Get in touch today! Link in bio 🔗 for more info.
📲 (416) 624-0296
📬 [email protected]

📢BREAKING NEWS📢 Bank Of Canada has raised rates again by an additional 0.50%, taking the key rate to 4.25%. This is part of their continued battle with inflation and will be impacting everyone on variable-rate mortgages, HELOCs, and other credit sources.

If you are worried about your rates or have any questions, I'm here to help any way I can, whether it's to provide information, advice, or solutions. My goal is to take the stress off your shoulders.

Click the 🔗 in our bio for more info.
📲 (416) 624-0296
📬 [email protected]

Experience all of the fall vibes while picking the perfect pumpkin! 🎃
Click the link in bio to enjoy all the fall fun farms & pumpkin patch places near you.
📷 Share with me your best fall pics!

Wouldn't it be great to save money on your mortgage? Luckily, many lenders in Canada offer prepayment privileges that will enable you to allocate a specified amount toward your mortgage’s principal in addition to your regular payments. Check out our blog to learn about all the above and more! 🔗 Link in Bio!

The housing market is cooling off and prices are falling from an all time record high during back to pre-pandemic levels. This means that your new appraisal might be coming up short and it will affect the amount of financing you can receive.

Here are the major things to consider;
-Why are the appraisals coming up short? 🤔
-what if you can’t make the difference between the purchase price and the appraisal? 😔
-what are your options if your appraisal is coming up short. 😅
-how can you protect yourself? 😎

Check out our blog to learn about all the above and more! 🔗 Link in Bio!
#🍍

Your home should feel like YOUR home. Here are some amazing ways to aesthetically modernize your home without breaking the bank, and the best part? These small additions and changes will increase the value of your home 🏡

Let us address the elephant in the room. Today, the Bank of Canada announced its fifth consecutive rate hike since March this year, increasing its overnight lending rate by 0.75% which brings the rate to 3.25%. This makes the prime rate 5.45%, up from its previous 4.7%.

What does it all mean?
The overnight rates are rates at which banks lend funds to each other at the end of the day in the overnight market. The overnight rate is the interest rate at which Canada’s banks borrow and lend funds.

The interest rate of variable rate mortgages is directly affected by the prime lending rate, which is influenced by the overnight rate. If there is an increase or decrease in the prime lending rate, the rate of the variable rate mortgages will also increase or decrease.

If you have a fixed mortgage rate, nothing will change until the current term ends, and it is time to renew. At that time the rate could be higher, the same as yours is now or much lower, it all depends on the economy.

So is it better to have a fixed rate mortgage or a variable rate mortgage?
This is a personal choice that comes down to the borrower and what is best for your specific situation. I can tell you when the overnight rate goes up, this is not the time to panic.

So what does all this mean for the real estate industry? Generally, it means a slow down in sales. More listings will be on the market, they will take longer to sell, and will result in prices adjusting downward.

When you’re considering buying or selling a home it’s more important than ever to have an expert working for you to help navigate these changes and advise you on the best course of action for your specific circumstances.

If you have questions about your mortgage, it is the time to reach out. I am here to help you understand and make the best decision for you. So if you’re thinking of making a move, get in touch. Coffee is on us :) ☕️

Click the 🔗 in our bio for more info.
📲 (416) 624-0296
📬 [email protected]
📆 schedule a call - link in bio

Don't let the (mortgage) stress test stress you out. I can help you find solutions with traditional or alternative lenders to ensure that you can qualify on the contract interest rate.

What does this mean for you?
- More borrowing power
- More flexible terms
- Lower monthly payments

is here to help answer all your questions. Let’s connect! ⬇️
Click the 🔗 in our bio for more info.
📲 (416) 624-0296
📬 [email protected]
📆 schedule a call - link in bio

New Video Alert! Click the 🔗 in bio and check out our 🍍 new video talking about the benefits of a hiring a broker.

🏠 There is no better time to buy than now. We are seeing an increase in inventory, less competition, fewer bidding wars, and more opportunities to add in conditions to protect you when purchasing your home. So, say goodbye to split-second decision-making and hello to strategic, well-thought-out offers. 👋🏼 Head to the online application link in the bio to learn how much you qualify today.

is here to help answer all your questions. Let’s connect! ⬇️
📲 (416) 624-0296
📬 [email protected]
📆 schedule a call - link in bio

Fixed vs. Variable Mortgage: Which Should You Choose?

Choosing between a variable or fixed rate mortgage is one of the most significant decisions you will have to make when securing your mortgage. Although variable rate mortgages have historically provided more savings for borrowers, the peace of mind that comes with the cost certainty of a fixed rate mortgage may be more appealing to some (especially in an environment where interest rates are rising).

Check the NEW blog on my BIO, which covers everything you need to know about fixed and variable rate mortgages to help you decide which mortgage option works best.

Here’s what I’ll be covering:
· What a variable rate mortgage is
· What a fixed rate mortgage is
· The pros and cons of each option
· Fixed vs. variable: what’s better?
· How to mitigate against rising rates with a variable mortgage
· When to switch from a variable rate to a fixed rate mortgage
· How a mortgage agent can help you decide what’s best for you

Reach out today. I will take the time to get the answers you need. Let’s connect! ⬇️

📲 (416) 624-0296
📬 [email protected]
📆 DM me to schedule a call

🆘 My HELOC interest rate is rising and I’m falling behind on my payments. What can I do?

is here to help answer all of your questions. Let’s connect! ⬇️
📲 (416) 624-0296
📬 [email protected]
📆 schedule a call - link in bio

Home Equity: What is it, and how can you access it?
Equity is the difference between the value of your home and what you owe against it.

Most homeowners start by approaching their bank for a conventional mortgage or home equity line of credit, though with increasingly stringent regulation, the banks are declining more borrowers than ever.

I work with you to get you the best deal as I aim to help you achieve your dreams and goals, no matter your circumstances.

Reach out today. I will take the time to get the answers you need. Let’s connect! ⬇️

📲 (416) 624-0296
📬 [email protected]
📆 DM me to schedule a call

Can I change mortgage lenders after a rate lock?
Yes, you can! Getting approved for a mortgage and locking your rate with a lender does not mean you are obligated to go with them. If rates change, causing another lender to be a better option, the mortgage agent will help you lock in a rate with them instead.

Let me shop the market to find the lender offering the best rate for you; then, if you qualify, I will obtain an approval letter for you and lock in the rate. A rate lock also helps protect you from rising rates, potentially saving you thousands of dollars in mortgage costs.

Let’s show you how through an example:
Jane Doe was on the hunt for a home. She knew that rates fluctuated, and she was nervous that they could rise by the time she closed on selling her dream home. Jane was comfortable with the interest rate at the time of 2.9%, so Jane decided to get pre-approved to lock in the rate. It was good that she did this because two months later when the sale finally went through and the lender issued the mortgage at the pre-approved rate, the rate had jumped up to 3.5%. Her mortgage amount was $500,000 over a 5-year term ––by locking in the lower rate, she saved more than $9,000 over the five-year term, lowering her monthly mortgage costs by $155.70.

Fixed vs. Variable Mortgage: Which Should You Choose?

Choosing between a variable or fixed rate mortgage is one of the most significant decisions you will have to make when securing your mortgage. Although variable rate mortgages have historically provided more savings for borrowers, the peace of mind that comes with the cost certainty of a fixed rate mortgage may be more appealing to some (especially in an environment where interest rates are rising).

Check the NEW blog on my BIO, which covers everything you need to know about fixed and variable rate mortgages to help you decide which mortgage option works best.

Here’s what we’ll be covering:
· What a variable rate mortgage is
· What a fixed rate mortgage is
· The pros and cons of each option
· Fixed vs. variable: what’s better?
· How to mitigate against rising rates with a variable mortgage
· When to switch from a variable rate to a fixed rate mortgage
· How a broker can help you decide what’s best for you