Mortgage Squad Inc

•Interest Rate Movements: Fixed rates are gradually falling as expected. Interest rates increase quickly with cost hikes but take weeks to decrease when costs drop, similar to gasoline prices.
•Variable Rate Mortgages: Directly influenced by the Bank of Canada rates, with immediate changes, as seen with the rate cut on June 5th.
•Fixed Rate Mortgages: Tied to Government of Canada Bond yields. Although bond yields have dropped significantly, banks have been slow to reduce fixed mortgage rates.
•Current Economic Influences: Bond yields have recently increased due to positive US economic news and increased Canadian federal spending, leading to investor concerns about inflation control.
•Bank of Canada Rate Forecast and Real Estate Trends: Continued rate cuts are anticipated, with a potential 2.00% reduction by the end of 2025. Property values typically drop in the summer, and a significant drop (possibly over 10%) is expected due to increased market listings from the new Capital Gains Tax increase. This creates a buying opportunity with falling prices and interest rates, particularly for variable rate mortgages.



Source: https://canadamortgagenews.ca/2024/06/25/why-fixed-rates-havent-dropped-that-much-yet/ -23048

Thinking about a second mortgage?

Wait! Here's what you need to know first:

- Basics: Borrow against equity for home improvements, but expect higher interest rates due to risk.
- Considerations: Watch for foreclosure risks, fees, and manage increased debt responsibly.
- Eligibility: Traditional lenders look for 25%+ equity, low debt-to-income ratio, and a good credit score.
- Private Lenders: Focus on equity and LTV ratio, offering options for low income or poor credit.
- Market Trends: Ontario's positive trends can impact rates positively with rate cuts and property value hikes.
- Legal Aspects: Understand the legalities, appraisal fees, and short-term loan durations.

Ready to explore?
Contact us for personalized guidance! 🌟💼

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The Loan-to-Value Ratio (LTV) is a key mortgage term that measures the amount of your mortgage compared to the appraised value of the property. It's calculated by dividing the loan amount by the property value and is expressed as a percentage.

Why Does LTV Matter?

Interest Rates: A lower LTV ratio often qualifies you for better interest rates because it's considered less risky for lenders.

Mortgage Insurance: If your LTV is above 80%, you might need to pay for private mortgage insurance (PMI).

Equity: Knowing your LTV helps you understand how much equity you have in your home, which is crucial if you're considering refinancing or selling your property.

Example: If you're buying a home worth $300,000 and you have a down payment of $60,000, your loan amount will be $240,000. Your LTV would be 80% ($240,000 / $300,000).

Dive deep into the intricacies of real estate closings with us tomorrow at 11am!

An enlightening session led by Jahanzaib Khalid from JZK Law where we will unlock the secrets to navigating real estate closings with finesse and shed essential legal insights custom tailored to allow your proficiency as an agent to soar.

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Expert Guidance:
Our team brings years of experience and in-depth knowledge of the Toronto real estate market.

Tailored Solutions:
We customize mortgage solutions to fit your unique financial situation and goals.

Strong Relationships:
Our network of lenders allows us to secure competitive rates and favorable terms.

Transparent Communication:
We believe in open, honest communication to keep you informed and empowered throughout the process.

Client-Centric Approach:
Your satisfaction is paramount, and we go above and beyond to exceed your expectations.

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🔍 Terms to Know: Amortization

Ever wondered about Amortization?
Let's unravel its mystery:

Definition: Amortization signifies the gradual repayment of a mortgage through regular payments over a defined period.

Monthly Payments: Each installment is divided into two segments: principal (representing the loan amount) and interest (the borrowing cost).

Early Years: Initially, a significant portion of your payment caters to interest.

Later Years: With time, a larger share of your payment chips away at the principal balance.

Example: Consider a 25-year amortization period entailing 300 payments (12 annually) until the loan is fully discharged.

Understanding amortization empowers you to:

📊 Plan Finances: Gain insights into the total cost over the loan's lifespan.

📈 Track Progress: Observe how payments gradually whittle down the principal balance.

Questions about how amortization influences your mortgage? Reach out to us to delve deeper! 🏡💡

Join our dynamic team at Mortgage Squad Inc!

We're looking for passionate and driven individuals to join our Mortgage Squad. If you're ready to help clients achieve their homeownership dreams and thrive in a collaborative environment, apply today! 🏡💼

Contact us for further details.

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Contact us today to learn more about how we can help you make your homeownership dreams a reality!

🏠 Home Buying Delays Due to Interest Rates: A whopping 72% of Canadians eager to purchase a home are holding off until interest rates drop—a 4% increase from last year!

📉 Anticipated Rate Cuts: The Bank of Canada is poised to start cutting its key lending rate in the latter half of the year. This move could potentially ignite a surge in housing market demand.

💸 Affordability Challenges: Even with these potential rate cuts, significant reductions are crucial for housing affordability to return to recent norms, according to BMO Capital Markets senior economist Robert Kavcic.

🔍 Financial Concerns: Inflation, high living costs, and unexpected expenses are major roadblocks for many prospective homebuyers this year.

🏡 Homeownership Dreams & Challenges: While 62% of respondents see homeownership as a major goal, over half find it out of reach due to financial pressures. Furthermore, 85% are making strides toward owning a home but are plagued with worries over financial and environmental issues.

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📣 This week's training session: "Lead Generation 101" with Zubair Afzal, our esteemed principal broker at Mortgage Squad! 📈 Sharing valuable insights and strategies to help boost lead generation skills.

🗓️ Wednesday, May 29.

🌐 Navigating the Economic Rollercoaster! 🎢 Dive into the twists of rising inflation, rate-cut speculations, and the Bank of Canada's dilemma in our latest article. 📰✨

Are you ready for the financial dance? 💃💰

It's that special time of year! 🦌

A day where joy wraps around you like a cozy blanket. From our Mortgage Squad family to yours, Merry Christmas! 🎄🎄

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Market buzz: Fixed mortgage rates hitting monthly lows as central banks consider rate cuts in 2024. 📉 Economic uncertainty persists, posing tough choices for new buyers and renewing homeowners. 💼💰

We're excited to offer *YOU* an exclusive opportunity.

Refer a client, and not only will they experience our expert service and unbeatable rates, but YOU could also earn up to $1000 when their mortgage is funded.

In other words; Refer, relax, and reap the rewards once the mortgage is funded 💰

Your trust means the world to us, and we believe in sharing the wealth. Ready to make a lasting impact? DM for all the details! 📩

Recapping an incredible session at Sharp Appraisal Training with Lorenzo Presutti, a seasoned appraiser with over two decades of real estate and appraisal experience.

We had the privilege of meeting the head of the Sharp Appraisal team, composed of highly qualified appraisers and real estate experts.

Their expertise in estimating and documenting residential, commercial, and industrial properties is unparalleled.

Exciting news! Mortgage Squad is hosting the REMIC mortgage agent course at our brokerage on May 20th and 27th from 9 AM - 5 PM.

Don't miss this opportunity to complete the fast track course offered by REMIC with a live instructor.

Contact us at 905-553-8550 or email [email protected] to register or for further details.

🏠📈 Are you a homebuyer or homeowner in Ontario looking to secure the best mortgage deal? 🤔

Your credit score plays a vital role in determining the interest rate you pay.

Find out how to improve your score, determine your budget, compare rates, and negotiate effectively in our latest article 📝

Don't miss out on the chance to find a competitive mortgage rate that fits your needs and budget!

Check out the link in our bio to learn more.

🏘️

Are you a first-time home buyer looking to make your dream home a reality?

Our latest article explores first-time home buyer programs that can make the process easier and more affordable. From lower down payments to reduced closing costs and lower interest rates, there are many benefits to these programs.

Check out the link in our bio to learn more and take the first step towards homeownership!

Please join us in welcome our newest team member, Naureena Sardar Saddiqqi, to Mortgage Squad! Naureena, a seasoned mortgage agent with a plethora of industry knowledge and expertise, is dedicated to assisting customers in achieving their homeownership aspirations.

We're excited to have her on board and can't wait to see how she'll benefit our team and clients. Keep tuned for more Mortgage Squad developments!

Did you know that understanding HELOC interest rates can save you money on your home equity line of credit? Our latest article explains how these rates work, why they matter, and provides tips for getting the best rates. Click the link in our bio to learn more and potentially save on your borrowing costs!

If you're wanting to get into the homebuying game, you've probably realized that buying a home is a substantial financial investment. It's an amazing milestone, but it's not without risk. Defaulting on your mortgage is one of the most serious hazards. This can occur if you are unable to make your mortgage payments owing to unanticipated reasons such as job loss or illness. Mortgage default insurance can help you and your investment by mitigating this risk.

Mortgage Squad Inc. understands the significance of preserving your investment, which is why we offer mortgage default insurance as your MVP. It's a form of insurance that protects your lender if you fall behind on your mortgage payments. Mortgage default insurance allows you to acquire a mortgage with a lesser down payment and perhaps cheaper interest rates. This insurance might also assist you avoid late fees and penalties if you are unable to make your payments. Check read our latest blog article on our website to discover more about how mortgage default insurance might help you.

Are you a first-time home buyer in Toronto? Avoid these common mistakes when choosing a mortgage broker with our latest blog post!

Your credit score shouldn't hold you back from achieving your dream of homeownership!

Unlock the doors to your dream home with MortgageSquad, where bad credit doesn't mean a dead end. Our expert team specializes in finding the perfect mortgage solution for every unique credit situation, with lightning-fast approvals that will leave you in awe. Don't let a blemish on your credit history hold you back from a brighter future.

Trust MortgageSquad to guide you on the path to homeownership.

Transform your wildest dreams into a stunning reality - the home you've always envisioned. Unlock the door to homeownership with our flexible and personalized mortgage options.

Let us guide you every step of the way towards your dream home. Embrace the power of possibility today.

Mortgage Squad Training

Are you a new or experienced Mortgage Agent? We're looking for someone like you to be apart of our team. Looking for a brokerage that can help you step by step to close your deals? Look no further, call us today @ 905-553-8550

These are features that one can get with their mortgage, but they are not mandatory, each has its own unique benefits. We will go over:

- Cash Back
- Home Equity Lines of Credit
- Title Insurance
- Mortgage life, disability, and critical illness insurance

https://youtu.be/7Wryn9ns63g

Once you have found the mortgage that is just right for you, find out how that impacts your future, what you will and will not be able to, the consequences of doing so, and what options are available to you if you do so. We will go over:

• Open or closed
• Portable
• Assumable
• Any charges associated with it.

https://youtu.be/nr7qLfes8Xo

When making the largest investment of your life, you need to choose the option that is right for you. In this video we will explore:

- What is a mortgage
- What to consider when getting a mortgage
- How your mortgage amount is calculated
- How your mortgage payments are calculated

We will help you find the option that is just right for you!

https://youtu.be/hUTeysaTm0s

- YouTube Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

How much do you need for a down payment?

The simple answer is it depends.

https://youtu.be/gQ6pEzdkEoI

But if you want to save yourself a lot of money on interest payments, it is best to go with a larger down payment, preferably 20% or more, than the purchase price of the home. This way you will yourself from buying Mortgage Loan Insurance.

We also go into detail about:
- What is a minimum down payment
- What is mortgage loan insurance
- How the down payment affects the total cost of your mortgage
- Home buying programs, plans, and incentives

If you found this information helpful, be sure to give the video a like, subscribe to the channel for more content, and share the video if you think it will help!

How Much do you Need for a Down Payment? The simple answer is it depends. But if you want to save yourself a lot of money on interest payments, it is best to go with a larger down payment, preferabl...

Are you about to apply for a car loan? Rent? Mortgage? Whatever the case may be, don't spend your hard-earned dollars to PAY for a credit report, when you can get one for FREE. Tune in and find out!

https://youtu.be/pfcLv83TCDw