Equity Mainly Matters

How to use a Home Equity Loan to buy a Second Home 🏠
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Canada’s 🇨🇦 real estate market is currently seeing impressive growth, making it an excellent time to think about investing. If you’re eyeing a second property, maybe a rental space or a holiday home 🏠,using the equity in your current home 🏠 is one option worth exploring. But understanding the terms, risks, and benefits is key to ensuring that this move aligns with your long-term financial goals and doesn’t overextend your financial commitments. Let’s look at what a home 🏠 equity loan is and how it can be leveraged to your advantage.
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For more information, refer to the following link in our bio: https://blog.remax.ca/how-to-use-a-home-equity-loan-to-buy-a-second-home/
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Purchasing a second property can be a great investment for you and your families future. Equity Mainly Matters specializes in offering borrowers with low rate, equity based Mortgage approvals such as our great: Home Equity Loans and Second Mortgage Solution products. Contact us today for more information.
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Shawn Sef | Mortgage Broker
MAO Inc. | FSRA #12340
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca
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Understanding the Difference: Mortgage Broker VS Bank 🏦
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When it comes to getting a Mortgage, deciding between a Mortgage Broker vs Bank 🏦 can make a big difference in both the time you spend and the amount you pay. Knowing the key differences between these two options can help you make a smarter choice, potentially saving you both time and money in the process.
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For more information, refer to the following link in our bio: https://blog.remax.ca/understanding-the-difference-mortgage-broker-vs-bank/
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Looking to obtain a Mortgage on your new Home 🏠 Purchase? or to Refinance your current Mortgage? if so, we can help❗
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We have access to over 200+ Canadian 🇨🇦 Lenders which helps us get your Mortgage loan approved with the lowest rates and fees available.
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We can help you obtain a much lower interest rate through our Mortgage Broker portal as opposed to obtaining your Mortgage through your bank 🏦, which would end up resulting in a higher interest rate provided to you. Contact us for more information.
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Shawn Sef | Mortgage Broker
MAO Inc. | FSRA #12340
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca
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Getting a Mortgage When Self Employed.
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Can a Self-Employed person get a Mortgage❓While getting a Mortgage can be intimidating for any applicant, it can be particularly challenging for Self-Employed individuals.
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Unlike traditionally employed applicants who can present stable income records through pay stubs and employer verification, Self-Employed individuals must navigate a different terrain, often facing more stringent scrutiny and complex criteria.
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However, with the right documentation and strategic planning, these hurdles can be overcome. Let’s learn more about how to get a Mortgage when you are Self-Employed.
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For more information, refer to the following link in our bio: https://blog.remax.ca/getting-a-mortgage-when-self-employed/
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Navigating the Mortgage landscape as a Self-Employed individual in Canada 🇨🇦 can be challenging. Still, with the proper preparation, documentation, and understanding of the available loan options, it is certainly achievable.
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Contact us today as will help you qualify for our great and beneficial Self-Employed Mortgage Solution product.
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Shawn Sef | Mortgage Broker
MAO Inc. | FSRA #12340
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca
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Should you pay Property Taxes through your Mortgage?
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Homeownership 🏠 doesn’t come cheap; in addition to your regular Mortgage payments, home insurance, utilities and repairs, is the dreaded property tax bill.
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This expense can often be overlooked by first-time home 🏠 buyers and seasoned homeowners alike – but there is an option to make paying it a breeze, which is to have your lender pay your bill to your Municipality on your behalf. However, there are some pros and cons to this approach – read on to see whether paying your property taxes through your Mortgage is right for you.
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For more information, refer to the following link in our bio: https://www.ratehub.ca/blog/should-you-be-paying-property-taxes-through-your-mortgage/
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Shawn Sef | Mortgage Broker
MAO Inc. | FSRA #12340
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca
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5 Tips for Mortgage Renewal time❗
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Most Mortgages need to be renewed at least once before they’re eventually paid off. Unless you have the cash to pay off your balance in your First Mortgage term, you’re likely part of the 3.4 million Canadians 🇨🇦 who are set to renew their Mortgage by the first quarter of 2025.
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For more information, refer to the following link in our bio: https://www.ratehub.ca/blog/5-mortgage-renewal-tips/
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Want to know if you should Renew your Mortgage with your current lender or switch lenders on your maturity date? There are various factors that will point out to you which will help make your Mortgage Renewal decision much easier.
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Shawn Sef | Mortgage Broker
MAO Inc. | FSRA #12340
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca
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What happens if your Mortgage Renewal is denied?
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Start the renewal process early: Many lenders will allow you to renew your Mortgage up to 120 days before the end of your term. Shop around and know your options: Comparing the market or working with a pro like a Mortgage Broker can help you find the best Mortgage rate. Did you know: getting a Mortgage rate even 0.25% lower can save a borrower $91 per month, and $1,092 per year!*
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For more information, refer to the following link in our bio: https://www.ratehub.ca/blog/what-happens-if-your-mortgage-renewal-is-denied/
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Has your Mortgage Renewal been denied by your current lender? If so, we can help! Contact us today for more information.
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Shawn Sef | Mortgage Broker
MAO Inc. | FSRA #12340
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca
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The Do’s and Don’ts of getting a Mortgage Pre-Approval.
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Becoming a homeowner 🏠 is a quintessential part of the Canadian 🇨🇦 dream and for most Canadians 🇨🇦 that property represents their largest financial asset. If you’re looking to get onto the real estate ladder, it’s only natural you want to put your best foot forward and make an informed decision when choosing your Mortgage.
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When kicking off the home 🏠 buying process, ensure getting a Mortgage Pre-Approval tops your to-do list, in addition to hiring a great realtor and working with a Mortgage Broker.
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For more information, refer to the following link in our bio: https://www.ratehub.ca/blog/the-dos-and-donts-of-getting-a-mortgage-pre-approval/
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Call Equity Mainly Matters today as will help you obtain a Pre-Approved Mortgage loan and lock in the lowest available Rate! This will help you save thousands of dollars throughout your Mortgage loan term.
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Shawn Sef | Mortgage Broker
MAO Inc. | FSRA #12340
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca
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Bank 🏦 of Canada 🇨🇦 cuts target Interest rate by 0.25% in July 2024 announcement.
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Borrowing costs are poised to lower further today, as the Bank 🏦 of Canada 🇨🇦 shaved another 25 basis points off of its benchmark Overnight Lending Rate, bringing it from 4.75% to 4.5%. This is the lowest the central bank’s 🏦rate has been since May 2023.
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For more information, refer to the following link in our bio:
https://www.ratehub.ca/blog/bank-of-canada-cuts-target-interest-rate-by-0-25-in-july-2024-announcement/
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Shawn Sef | Mortgage Broker
MAO Inc. | FSRA #12340
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca
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Can your Mortgage Lender force you to sell your home 🏠 through Power of Sale?
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As Interest Rates continue rising, many Canadians 🇨🇦 are facing big hikes in their Mortgage payments. Those with Variable Rate Mortgages have felt the pinch come on slowly, while those with Fixed Rate Mortgages are bracing for much higher payments on Renewal.
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In extreme cases, Mortgage lenders are opting not to renew – and leaving borrowers on the hook for hundreds of thousands of dollars.
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For more information, refer to the following link in our bio: https://www.ratehub.ca/blog/can-your-mortgage-lender-force-you-to-sell-your-home-through-power-of-sale/
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Equity Mainly Matters has helped many clients over the years save their home 🏠 during a difficult situations such as a Power of Sale. Feel free to contact us for more information as we can help you save your home 🏠.
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Shawn Sef | Mortgage Broker
MAO Inc. | FSRA #12340
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Renewing your Mortgage in 2023: What are your options?
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There’s no doubt about it – those coming up for a Mortgage Renewal this year are likely going to feel some financial pain.
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Mortgage Rates – both Fixed and Variable – have soared over the past 12 months, as monetary policy makers have had to increase the benchmark cost of borrowing to counter rising inflation.
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Overall, the Bank 🏦 of Canada 🇨🇦 has increased its overnight lending rate – which lenders use to set their Prime and Variable-Rate pricing – a historic eight times between March 2022 and January 2023, from 0.25% to 5% today. That has resulted in a Prime rate of 7.2%, and a dramatically tougher borrowing environment.
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For more information, refer to the following link in our bio:
https://www.ratehub.ca/blog/renewing-your-mortgage-in-2023-what-are-your-options/
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To Renew or Refinance your Mortgage upon your Mortgage maturity date can be a very difficult decision for many borrowers.
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Call us today as will help make your Renew OR Refinance decision much easier by providing you with honest and expert advice.
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Bank 🏦 of Canada 🇨🇦 Hikes target interest rate to 5% in July announcement ‼️
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The Bank 🏦 of Canada 🇨🇦 has hiked its trend-setting interest rate once again, bringing the benchmark Overnight Lending Rate up by 0.25% to a full 5%. It’s the 10th increase since March 2022, and caps off what has been the steepest upward trajectory for rates in decades.
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As a result, the Prime rate in Canada 🇨🇦 will rise from 6.95% to 7.2%, its highest since March 2001. Variable Mortgage rates will soon follow suit, as lenders pass those higher costs down to consumers.
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For more information, refer to the following link in our bio:
https://www.ratehub.ca/blog/bank-of-canada-hikes-target-interest-rate-to-5-in-july-announcement/
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Most Borrowers than ever are turning to Private Mortgages ‼️
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As interest rates have steadily increased over the past year, it's created financial hardship for many existing Mortgage borrowers, as well as those shopping for a new rate or coming up to renewal – and a larger proportion of those distressed borrowers are turning to the Private Mortgage market.
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For more information, refer to the following link in our bio:
https://www.ratehub.ca/blog/more-borrowers-than-ever-are-turning-to-private-mortgages/
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Private Mortgages can help borrowers out with accessing their Home Equity for various beneficial reasons such as: Debt Consolidation, Home Renovations, Investment property Purchases etc.
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Feel free to call me today as I will help you obtain a Home Equity Loan with a Private Lender which will help you take advantage of your Home Equity.
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Canada 🇨🇦 bans foreign buyers – Will it matter now?
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The federal Liberal government recently introduced the Prohibition on the Purchase of Residential Property by Non-Canadians Act which will prohibit non-residents of Canada 🇨🇦 from purchasing residential real estate for two years beginning January 1, 2023.
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For more information, refer to the following link in our bio:
https://www.movesmartly.com/articles/canada-bans-foreign-buyers-will-it-matter-now
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Should I buy a House 🏠 in a Recession?
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With alarm bells ringing for a recession and the cost of everything rising rapidly, you may be wondering whether this is the best time to buy a home 🏠.
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On one hand, a recession could open up new opportunities for you. If prices fall and the market relaxes, this could be your chance to get into the market. On the other hand, you could find yourself in a very stressful situation if your income were to be disrupted.
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So is it a good idea to buy a home 🏠 during a recession? Let’s investigate whether you should take the plunge, or if it’s better to wait.
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For more information, refer to the following link in our bio:
https://www.ratehub.ca/blog/should-i-buy-a-house-in-a-recession/
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Now is the best time to Purchase a Home as prices are at an all-time low. Feel free to call me today as I will assist you with obtaining a low Rate Mortgage for your Home Purchase.
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Should I extend my Mortgage Amortization?
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If you’re worried about your Mortgage payment going up because of rising interest rates, you’re not wrong.
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Data from the Canadian 🇨🇦 Mortgage and Housing Corporation (CMHC) shows that while the size of the average new Mortgage loan in Canada 🇨🇦 (originations and refinances) has shrunk by about 2% over the past year, the average payment has gone up by almost 18% - entirely thanks to rising interest rates.
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If you’re facing a significantly higher Mortgage payment at renewal, a possible solution is to extend the amortization period of your Mortgage – the length of time over which your payments are spread out. By taking longer to pay your Mortgage, you can reduce your monthly payments and make them more manageable.
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Whether extending your Mortgage amortization is the best choice for you, however, is another question. Let’s take a look at whether taking longer to pay off your Mortgage is the best solution to rising payments.
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For more information, refer to the following link in our bio:
https://www.ratehub.ca/blog/should-i-extend-my-mortgage-amortization/
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Call me today as I will guide you and advise you of the best possible steps to take in order to select the Amortization term that makes most sense for you.
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Over half of Mortgage borrowers concerned about Renewals‼️
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A new survey has found that 53% of Canadian 🇨🇦 Mortgage borrowers are concerned about the prospect of higher monthly payments at Renewal time.
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However, most respondents (52%) also said they have a plan in place to help deal with any potential payment shock, the RATESDOTCA and BNN Bloomberg survey found.
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For more information, refer to the following link in our bio: https://www.canadianmortgagetrends.com/2022/10/over-half-of-mortgage-borrowers-concerned-about-renewals/
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Want to know if you should Renew your Mortgage with your current lender or switch lenders on your maturity date? There are various factors that I will point out to you which will help make your decision much easier.
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Feel free to contact me as I will provide you with honest and expert advice which will help make your decision much easier!
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Should you switch from a Variable-Rate to a Fixed-Rate Mortgage?
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As interest rates continue to shoot up, you may be wondering whether now is the time to give up your Variable-Rate Mortgage and lock in a Fixed Rate.
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Is switching to a Fixed-Rate Mortgage the right move for you? What other options do you have? And how do you go about locking in a Mortgage rate? Let’s take a look at the ins and outs of switching from a Variable-Rate to a Fixed-Rate Mortgage.
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For more information, refer to the following link in our bio: https://www.ratehub.ca/blog/should-you-switch-from-variable-to-fixed/
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Both Fixed OR Variable Rate Mortgages are great options! Feel free to call me today as I will help pair you up with the most appropriate option, which will be most suited for you and your family’s needs.
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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How to Renew Your Mortgage in 2022‼️
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Is your Mortgage up for renewal in 2022? If it is, you might be one of the thousands of Canadians 🇨🇦 worrying about renewing your Mortgage during this period of rapidly rising interest rates.
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Ratehub.ca did the calculations to see what Canadians 🇨🇦 can expect will happen to their monthly Mortgage payments upon renewing in November 2022.
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For more information, refer to the following link in our bio: https://www.ratehub.ca/blog/mortgage-renewal-with-rising-interest-rates/
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Want to know if you should Renew your Mortgage with your current lender or switch lenders on your maturity date? There are various factors that I will point out to you which will help make your decision much easier.
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Feel free to contact me as I will provide you with honest and expert advice which will help make your decision much easier!
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Bank 🏦 of Canada 🇨🇦 raises target overnight rate to 3.75%‼️
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The Bank 🏦 of Canada 🇨🇦 announced today that it will be increasing the key overnight rate by 50 basis points from 3.25% to 3.75%.
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This was a surprise to many, as some prominent experts had been predicting a potential larger increase of 75 basis points. Although the Bank was clear that further rate hikes will be needed to get inflation under control, it also indicated that it will be examining the economic effects of its current rate strategy.
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For more information, refer to the following link in our bio: https://www.ratehub.ca/blog/bank-of-canada-raises-rate-to-3-75/
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Bank 🏦 of Canada 🇨🇦 raises target overnight rate to 2.5%‼️
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The Bank 🏦 of Canada 🇨🇦 announced that it will be increasing the key overnight rate by 100 basis points, from 1.5% to 2.5%.
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This is the largest rate hike since 1998! With such a large rate increase, the Bank of Canada is showing that it is ready to fight inflation aggressively. The Bank has made it clear that more rate hikes are still to come this year, until inflation finally moderates.
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For more information, refer to the following link in our bio: https://www.ratehub.ca/blog/bank-of-canada-raises-target-overnight-rate-to-2-5/
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Toronto rent prices just took a shocking 20% leap with no relief in sight‼️
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If your skyrocketing gas and grocery bills weren't enough, Toronto rental prices just keep on climbing back to pre-lockdown levels, and experts expect rents will only continue their ascent in the months to come.
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Living in the big city is an increasingly costly commitment, and while average rental prices are rising nationwide, Toronto renters are feeling more pressure than ever.
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For more information, refer to the following link in our bio: https://www.blogto.com/real-estate-toronto/2022/07/toronto-rent-prices-leap-20-per-cent/
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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Reaction to the Bank 🏦 of Canada’s 🇨🇦 100 BPS shocker‼️
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Having been behind the inflation curve for many months, the Bank of Canada tried to get ahead of it by delivering a surprise 100-bps rate hike.
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That brings the Bank’s benchmark rate to 2.50%, a level not seen since 2008. Rates have now increased by 225 basis points, or 2.25 percentage points, since March.
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For more information, refer to the following link in our bio: https://www.canadianmortgagetrends.com/2022/07/reaction-to-the-bank-of-canadas-100-bps-shocker/
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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How falling Home 🏠 prices are leading to growing appraisal gaps‼️
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With national home 🏠 prices on the decline, some homebuyers are seeing appraisals come in lower than their purchase price, and that’s leaving many scrambling to come up with ways to close the gap.
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For more information, refer to the following link in our bio: https://www.canadianmortgagetrends.com/2022/06/how-falling-home-prices-are-leading-to-growing-appraisal-gaps/
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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With interest rates rising, how might the Mortgage stress test need to change?
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When the Mortgage stress test was first introduced in 2016, the idea was to make sure that while it was easy to borrow amid relatively low interest rates, people would be able to continue making Mortgage payments when those rates inevitably increased.
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Well, that time has come. After two years of historically low interest rates during the pandemic, the Bank 🏦 of Canada 🇨🇦 has, since March, embarked on a series of interest rate hikes — the most recent two being 50-basis-point jumps — to try and curb soaring inflation, which sits at a 30-year-high of 6.8%.
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The overnight interest rate currently sits at 1.5%. And while the Bank’s interest rate moves take time to trickle their way down the borrowing chain, we’ve already seen some movement in today’s mortgage rates. As of this writing, we’re seeing 2.45% for a five-year variable Mortgage to 3.74% for a fixed-rate Mortgage with the same term on LowestRates.ca.
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For more information, refer to the following link in our bio: https://www.lowestrates.ca/blog/homes/rising-interest-rates-will-mortgage-stress-test-change
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Shawn Sef | Mortgage Agent Level 2
Mortgage Associates Ontario Inc.
📲 Direct Cell: (647)865-9545
📧 Email: [email protected]
Apply Now: 🌐www.equitymainlymatters.ca🌐
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