Calibre Mortgage Powered By Invis-Mary Poburan

If you’re a homeowner, now could be the perfect time to consider refinancing. Refinancing your mortgage can help you shorten your mortgage term, access equity in your home or consolidate high-interest debt. 💳💰

With access to multiple lenders, I work with you to find the best refinancing solution to meet your unique needs. Don’t wait to take control of your financial future. Reach out to explore how refinancing can help you achieve your goals.

🔔 Is your mortgage up for renewal? With the latest rate drop and the indication rates could go down even more, seeking the advice of a mortgage broker is crucial in today's market. 📈

Reach out and let's secure your financial future together. 🏠💼

Here are five tips to help you get ready to buy your first home:

1️⃣ Keep a good credit score! The higher, the better. This is a snapshot of your financial health, and lenders use this to gauge your ability to repay debts.

2️⃣ Save a down payment! The bigger the down payment, the better – the minimum down payment when less than $500,000 is 5%; between $500,000 and $999,999, you will need 5% for the first $500K and 10% for the portion above $500K, and $1 million+ you need 20% of the purchase price.

3️⃣ Keep your income stable. Lenders like to see proof that you can make your payments; a full-time job is the best way to show it.

4️⃣ Pay down existing debt. Your balances don’t need to be at $0, but how much debt you carry will affect how much you can borrow.

5️⃣ Get a mortgage pre-approval!

Predictions are always Fun! what does this mean? First of all its important to know that the media generally reports the OVERNIGHT rate which doesn't apply to us common folk. THIS DOES NOT MEAN RATES ARE GOING DOWN TO 2.75%! This is the rate that the banks borrow from the government. Add 2.2%( for now) to that and you get PRIME. Currently sitting at 6.7%. The spread between the overnight rate and prime isn't constant but assuming so, would have Prime sitting at 3.95 and 4.45% by the end of 2025. That means anyone in a variable rate mortgage( generally discounted below prime) may see rates as low as 3.05-3.55% by the end of 2025( assuming you have a P-.9% rate) Fixed rates respond to economic factors outside of the movement of Prime. While we wait patiently for the announcements each month, behind the scenes fixed rates are adjusting constantly and most impacted by the bond rates in Canada. It DOES NOT mean that fixed rates will drop 175BPS...but how low will they go? what do you think? we are currently below 5% for most 5 yr products remembering that not every mortgage qualifies for lowest rates . It would be nice to see rates get below 4% again but time will tell.

Five things not to do after you have been approved for a mortgage:

1️⃣ Leave or switch jobs
2️⃣ Make a major purchase
3️⃣ Apply for new credit
4️⃣ Pay off your debt
5️⃣ Co-sign on a loan

If you have any questions about what you should or shouldn’t do while applying for a mortgage, send me a message. I am with you every step of the way.

Dreaming of your perfect home? 🏡 Start your homeownership journey by boosting your credit score with these 4 tips:

1️⃣ Always pay your bills on time 📆
2️⃣ Keep credit card balances below 30% of your limit 💳
3️⃣ Regularly check your credit report for errors 📝
4️⃣ Avoid opening unnecessary new credit accounts 🚫

Follow these steps and watch your credit score soar!

Ready to secure your dream home? Contact me today and let’s start the process! 🏡💼

Unlock the Power of Your Home's Equity with a HELOC! 💳 If you have equity in your home and need quick access to funds, a Home Equity Line of Credit could be the perfect solution.

Send me a message to learn more and find out if a HELOC is right for you! 💬

If your home will be owner-occupied, you need 5% down for the first $500,000 of the purchase price, and 10% for any amount over $500,000 up to $999,999. If the purchase price is $1,000,000 or more, the minimum down payment is 20%.

According to CMHC’s Mortgage Consumer Survey, most homebuyers are accessing their savings or equity from a previous home for their down payment. Followed by RRSP savings and gifts from family members.

If you have any questions about the down payment options available to you and how to use them, send me a message!

Get ahead in your home-buying journey with a pre-approval:

💰 Know your budget
⏩ Speed up the process
🔒 Lock-in a favorable rate
😌 Smooth and stress-free experience

Reach out for a free pre-approval! 🤝🏡💼

Locking in with your current lender automatically might not secure the best available rate. Reach out to evaluate your existing mortgage, secure the most competitive rate, unlock additional funds, and customize your amortization or payments. 🗓️💵

Renewing your mortgage presents an opportunity to renegotiate. It's crucial to initiate discussions early to align with your financial objectives. 💲

You don't have to tackle the renewal process solo. I’m here to provide guidance and support; feel free to reach out with any inquiries you may have.

Refinancing involves replacing your existing mortgage with a new one, and it requires a minimum of 20% home equity.

Since breaking your current mortgage entails a fee, I can conduct a customized cost/benefit analysis to determine whether refinancing is a sensible decision.

The following are three common reasons why individuals choose to refinance:

📌 Consolidate high-interest debt

📌 Undertake renovations

📌 Access the most cost-effective funds for a significant expense

Ok by now you've seen this all of over your news feed....What does this mean? Prime should follow suit and drop from a whopping high of 7.2% to a rate of 6.95%. What does it NOT mean? We will not necessarily see fixed rates move in the same proportion of a .25% rate drop. Fixed rates are not directly correlated to the movement in Prime and are more sensitive to what is happening in the Canadian Bond Market. Let's see what happens in the next day or two. It's not a huge cut but....it appears we are on our way down from the top of the roller coaster! Hold on...let's hope its a fast ride down!

We are on our Way Down! Expert mortgage advice for purchases, refinancing, renewals, debt consolidation.

It's about time!Ok by now you've seen this all of over your news feed....What does this mean? Prime should follow suit and drop from a whopping high of 7.2% to a rate of 6.95%. What does it NOT mean? We will not necessarily see fixed rates move in the same proportion of a .25% rate drop. Fixed rates are not directly correlated to the movement in Prime and are more sensitive to what is happening in the Canadian Bond Market. Let's see what happens in the next day or two. It's not a huge cut but....it appears we are on our way down from the top of the roller coaster! Hold on...let's hope its a fast ride down!

https://www.mpamag.com/ca/mortgage-industry/market-updates/bank-of-canada-cuts-interest-rates/492040?hsmemberId=173328&tu=cf8bf5c4-f003-4451-9f70-9da4cd4c0c9d&utm_campaign=&utm_medium=20240605&_hsmi=310262085&utm_content=cf8bf5c4-f003-4451-9f70-9da4cd4c0c9d&utm_source=

https://www.calibremortgage.com/index.php/blog/post/52/we-are-on-our-way-down

Working with a Mortgage Broker like me, gives you access to a wide array of products to choose from – banks, private sources, independent lenders, etc. Whether you are looking to explore your options or get a second opinion, the lending options available could save you thousands!

Your mortgage amortization period is the number of years it will take you to pay off your mortgage. Depending on your choice of amortization period, it will affect how quickly you become mortgage-free and how much interest you pay over the lifetime of your mortgage (a longer lifetime equals more interest, whereas a shorter lifetime equals less interest but also bigger payments).

Together we will review your situation and can help you make the best decision. Reach out today!

Thinking about buying a home? 🏡 Having a good credit score is not only important when it comes to being approved but a good credit score can also give you access to better rates. 📊

Here are 4 tips to help build and maintain a strong credit score:

1. Use your credit.
2. Pay your bills on time.
3. Don’t max out your credit.
4. Have a variety of credit accounts.

When planning your path to homeownership, remember these crucial steps:

✅ Maintain a healthy credit score
💼 Save for a down payment
💰 Keep your income stable
🧾 Pay down existing debt
💪 Get a mortgage pre-approval.

By addressing these factors, you’ll be one step closer to turning your homeownership dreams into reality! 🌟🗝️

A mortgage pre-approval lets you know how much mortgage you can carry based on your qualifications. Being pre-approved for a mortgage saves you time and increases your negotiating power when you find the home you love. 🏡 🥰
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If you are thinking of buying, get in touch for a pre-approval. It’s quick, easy, and free. 🆓

Your mortgage renewal is the perfect opportunity to assess your current mortgage and compare it to your new financial goals.

Don’t renew recklessly - reach out and I can help you find your best options!

Is your mortgage working as hard for you as you are for it? It might be time to consider refinancing! Refinancing could help you save money, lower your monthly payments, or even pay off your home faster.

Let's explore your options together and make your mortgage work smarter for you! 💼💸

If your mortgage is coming up for renewal, it is essential to reach out and explore your options. With today’s higher rate environment, some homeowners have difficulty qualifying at renewal and feel “stuck” with their current lenders.

The best thing you can do is get advice early and explore your options.

If you have been thinking about buying now is the time to act! With the Spring Market here, inventory is picking up, be ready to make an offer when you see the house you love. Reach out today for a rate-hold. It's quick, easy, and free!

If you carry a large amount of high-interest debt, Spring cleaning that clutter can be very rewarding.

If you have equity in your home, we can look at refinancing your mortgage and rolling all your high-interest debts into your mortgage. This will reduce your monthly payments and help you save big on interest.

Reach out to review your options.

🏡 Ready to make your homeownership dreams a reality? 🌟 Buying a house is an exciting journey filled with endless possibilities! Whether it's your first home or your forever home, I’m here to guide you through every step of the process.

For self-employed borrowers, I open doors, not build walls!

I have access to lenders specializing in self-employed borrowers. In fact, helping self-employed borrowers is one of my specialties!

Approximately 1 in 3 buyers finance their home with a gifted down payment. When the down payment is gifted, the purchaser needs to provide the lender with the below information:

📌 Relationship to the individual giving the money
📌 The amount of money being gifted
📌 The property the money if gifted for
📌 A statement specifying the money is a gift and does not need to be repaid
📌 Contact information of the person giving the money
📌 The source the funds are coming from

Specific requirements may vary depending on the lender. Reach out and we will be able to assist and provide you with all the information.

According to Statistic Canada, Canadians owe $1.82 in credit debt for every dollar of disposable household income. If you are struggling with high-interest debt, reach out. A solution like refinancing your mortgage to pay off high interest debt can potentially free up cash each month and help you get out of debt.

If your mortgage is coming up for renewal, you must prepare for higher rates. It is not about panicking; it’s about being prudent. Here are three strategies you can implement to get ready:

1. Take advantage of your prepayment privileges and increase your payment amount. You’ll pay down more principal and be accustomed to paying more at renewal.

2. Watch your bad debt. Be cautious about any credit card or high-interest debt.

3. If you are considering moving to a new home, get a pre-approval to protect you while shopping around. Consider not borrowing the maximum amount your lender will allow.

The best thing to do is get advice early. Reach out I will help you determine your best personal strategies to prepare.

Private mortgage lenders serve as an alternative funding source, usually for borrowers who are unable to secure traditional loans.

Borrowers may opt for private mortgage lenders due to the following reasons:

📌 Poor credit - Private lenders are more flexible than traditional lenders and willing to work with borrowers who have a low credit score or a history of missed payments.

📌 Self-employed or possess an irregular income - Private lenders can be more accommodating as they consider criteria such as the property's potential value.

📌 Individuals seeking short-term loans - Private lenders offer short repayment periods, making them a viable option for those anticipating the arrival of other funds, such as a bonus, inheritance, or proceeds from a house flip.

If you have any inquiries or believe that a private mortgage is a suitable solution for you, reach out for more information.

Your credit score is a number between 300-900 that the credit bureaus calculate. In Canada, we have two credit bureaus, Equifax and TransUnion.

Your score indicates how responsible you are with credit and the likelihood you’ll repay it. Scores above 660 show you can manage credit well, and a lender should feel comfortable letting you borrow money at a competitive rate.

Below is a list of factors that impact your credit score:

📌 The length of time you’ve had credit
📌 If you carry a balance on your credit cards
📌 If you frequently miss payments
📌 How much debt you currently have
📌 How much credit you use out of the total amount available to you
📌 If you’ve ever filed for bankruptcy
📌 If any of your debts have ever been sent to collections