Zohreh Fayaz
6083A Yonge Street, 2nd floor M2M 3W2 Toronto, ON, Canada

Before starting a home renovation, make sure you've got a clear, complete, written contract.

If you have RRSP contribution room, you can contribute your savings before March 2nd, and receive a tax refund based on the amount you contribute and your marginal tax rate. Then, after 90 days, you can redeem those funds under the Home Buyer’s Plan, which lets first-time homebuyers withdraw up to $35,000 each ($70,000 for a couple) tax-free from their RRSPs. You’ll need to pay those funds back, of course, on a repayment plan, but this strategy can make a substantial difference in the affordability of home ownership! It may also help you achieve the 20 per cent needed to avoid mortgage default insurance premiums. Let’s have a conversation to determine if this strategy could work for you!

Do you know where your money's going? Try tracking your spending honestly for one month, categorizing the expenses and finding any small savings you can start making. Over the course of a year those little amounts really add up.

Among the federal tax changes that came into effect Jan. 1 is a benefit for recently separated individuals who want to use their retirement savings to buy a home. "The Finance Department said in a statement that individuals who make a withdrawal in the year a breakup occurs, or in the four preceding calendar years, can access the Home Buyers’ Plan (HBP), even if they are not a first-time home buyer."

Here are the RRSP basics, just in time for income tax season.

The Bank of Canada announced today that it is keeping its benchmark rate unchanged. The next rate-setting day is Wednesday, March 4th. Do you need a mortgage? Renewing? Refinancing? Be sure to get in touch. It's important to get advice and a personal assessment of your situation. http://ow.ly/m15O50y299z

My goal is to provide expert advice, education and resources that homebuyers need. It’s important that to understand the terms you'll encounter when making what is likely your biggest purchase.

A new $5 bill is in the works and it'll have a new face. Who do YOU think is "banknote-able"?

Even if you're not planning a major decluttering operation, these are some good ideas on how best to part with items you no longer want or need.

The fresh start of the new year is a great time to review your finances and your spending. Whether you are saving to buy a home or to pay one off, your money leaks can add up over time, especially the biggest leak: high interest. If you have enough equity in your home, you may be able to move high-interest debt to your lower-rate mortgage, and save thousands. Using home equity to pay down debt is one of my specialties! Get in touch.

New year, new homebuilding ideas! https://nationalpost.com//three-building-trends-for-the-20

Some "cool" activities...

Renewing, refinancing, first mortgage, second mortgage, self-employed, new to Canada You've got options. Get in touch!

Economists are predicting favourable mortgage rates in the upcoming year, which is good news for homebuyers and those refinancing or renewing their mortgages

Planning to renovate? Ease your reno budget by using all the tax benefits, rebates, and grants you can get. Here's a comprehensive list to help you out.

Turns out the winter months may be a great time to sell!

With a professional mortgage expert on your side you get the advice you need, personalized for you. Resources, tips, and ideas to make the home buying process as smooth as possible from coming up with a healthy downpayment to helping you with strategies for paying off your mortgage sooner. I'm here to help you out!

Effective debt management signals to lenders that you are capable of repaying your loan on time a significant factor when applying for a mortgage.

"You don’t want to be one of the unlucky ones to have a cell phone error or problem tarnishing your credit. To improve your chances of avoiding any issues, ensure you pay the full amount owing each month and keep good records."

Although most Canadians believe that they have a good understanding of their mortgage, some basic and important details have them stumped.

The Bank of Canada is holding its key rate at 1.75%. If you need a new mortgage, are renewing or looking to refinance for debt consolidation, renovations or other large expenditures, get in touch for expert advice!

The dropping temepratures mean it's time to winterize your home, keep the cold out and the warm, cozy feeling in. http://ow.ly/v34S50wWFO7

December is here. Even with the best of intentions, your credit card might get quite a workout! Aside from wise spending and sticking to your budget, make sure that you can pay for all your purchases when that credit card bill arrives in January. It is the best way to keep your credit score in tip-top shape.

This is a question that I hear often: "How big should my house down payment be?" This article reviews the pros and cons of putting down a minimum of 5 percent, and 20 percent. Since each situation is different, I'll take the time to answer your specific questions. That way I can assess your situation and help you plan for a healthy financial future.

How to declutter and avoid the maybe I’ll need this excuse when deciding what to keep and what to let go.

If high-interest debt is choking your cash flow and you have enough equity in your home, you may be able to move that debt to your lower-rate mortgage and save thousands. Ask me how!

You are not doing your credit rating any favours by making just the minimum monthly payment. Making only minimum payments on your credit cards on an ongoing basis doesn't reduce your balance. You’re not paying off your debt in a reasonable amount of time; a characteristic lenders look for when deciding to approve a mortgage application. http://ow.ly/3Vic50xgn4S

Today's low mortgage rates may tempt you to search for a better deal. Be sure to understand the fine print and weigh the pros and cons before you make a move. Sometimes the fees and service changes tied to the new mortgage might not be worth the switch.

Many retirees or those soon-to-be retired are looking at ways to unlock the value of their homes to free up tax-free cash. A reverse mortgage can be a tremendous financial solution, allowing you to access your equity while you maintain ownership of your home. No mortgage payments are required and you can receive your tax-free cash over time or in one lump sum. Let’s have a discussion if you are interested in exploring these financial benefits.

Is your home insured for water damage? Make sure you know what you are and aren't covered for.

When your lender sends you a renewal letter, it's time to get professional, independent advice. I can provide an expert second opinion on what you’re being offered! And it might also be a good time to roll your high-interest credit cards and other debt into your mortgage, to get one lower payment, boost cash flow and save on interest costs Got a mortgage renewal coming up? Let's talk.

It's a good idea to ask your real estate salesperson to coordinate a final visit before closing.

Thinking about buying your first home? You've probably got lots of questions. I've got the answers, and will assess your situation to help you determine if it’s the perfect time to jump in.

Set a goal to save the equivalent of three to six months of expenses or more, depending on your personal financial situation.

Why use a mortgage broker? To get the best mortgage, you need options. I've got access to a wide range of banks, credit unions, and other national, regional and private lenders offering competitive rates + specials, ensuring that your specific needs are met with the right mortgage.

To prepare your home for the cooler months ahead, give it a little TLC.

Be mortgage ready. Get in touch for expert mortgage advice and customized financing solutions.

"If, as a seller, you are concerned about the potential of damage being done by people viewing your home, ask your agent to be present at every viewing. Every. Single. Viewing." Because the last thing you need while trying to sell your home is for it to be damaged during a viewing or inspection.

Take a look at how much mortgage your current monthly rent could cover. Rent doesn’t have to be money out the window: it could be building you equity in your own home! Keep in mind that home ownership involves costs beyond the mortgage payment, like utility bills, insurance, and property taxes. I can help you determine what you can comfortably afford.

Bank of Canada has announced it is keeping its key rate at 1.75%. The next rate-setting announcement will be on October 30th. If you need a new mortgage, are renewing or looking to refinance for debt consolidation, renovations or other large expenditures, get in touch for expert advice and a personal assessment of your situation.

Small savings can add up over the course of a school year. Check out these smart tips that will help you form good financial habits.

Did you know that everything relating to your mortgage can be arranged around YOUR busy schedule? All you have to do is get in touch... and I'll start working for you today.

Everything from happy houseplants to having dinner ready & waiting for you... if you love tech, this is for you!

It seems the jury's out on whether home staging actually brings higher selling prices.

You might be closer than you think to buying your first (or next property). Get in touch any time. Early advice can save time, money and stress!

When it comes to mortgages, the rate is just one of many factors to consider. #TipTuesday

Okay... here's something light for a Friday afternoon!

You can enjoy the fruits of your labour year-round - and always have home-grown, fresh herbs on hand.

Simple. If you need a mortgage, are looking to renew or refinance, or if you'd like a personalized assessment of your situation, get in touch!

Avoid purchasing a money pit. "No matter how much you love the view or that charming breakfast nook, don’t let it distract you from the fundamentals of what makes a house a good financial investment. Keep your eyes open for signs neglect, deterioration or outdated building systems."

Take a few minutes to understand the five Cs of credit: capacity, capital, collateral, consistency and character. You want the lender to see that you are a good investment, and I’ll be happy to help you make the best impression

You can roll up all the extra debt you have outside your mortgage and consolidate it into a new or existing mortgage. If you’ve built up equity in your home, this is a great way to power through your debt and save thousands on interest. So dig out your credit card and loan statements, write down the balances, interest rates, and monthly payments. Now, make an appointment with me... and get a realistic appraisal of your options and savings.

Some nice ideas to help you add your own personal touch to a newly-constructed home. http://ow.ly/iJCw50v3n3e

A great way to unwind this summer... no passport required!

Be sure to get in touch if you have questions about your mortgage plan, especially to discuss if this is a good time to switch your variable mortgage to a fixed rate. It's a good idea to get professional advice and a personal assessment of your situation if you are thinking of changing your mortgage strategy, or if you need a new mortgage, are renewing, or if you're looking to refinance.

Many homebuyers find themselves in a common predicament: they’ve found a property that suits them, but it needs some costly and immediate upgrades. Good news... I've got a mortgage that will keep you financially afloat. This is how to buy and renovate! #TipTuesday

To stage or not to stage? It can make a difference in how fast and for how much you sell your home - and you can even do it yourself.

When you get your renewal notice, let’s talk. Don't just sign it back: this is your moment of opportunity to negotiate the best possible deal, either with your current lender or with a new one. Your mortgage needs may have changed. This may be a good time to roll high-interest credit cards and other debt into your mortgage to get one lower payment, boost your cash flow and save on interest. Or you may want to take some equity out for renovations or other large expenditure.

Are you starting on your homebuying journey? Get a mortgage pre-approval which will put you in the driver's seat in a high-demand market, check your credit score, organize your finances... and get in touch, because I can help with all of this, and more. http://ow.ly/kRyP50uRHcC

Planning a summer vacation? Enjoy your time away even more knowing your home is safe and sound.

An interesting homebuying trend is home purchases that are completed with a friend a creative solution to the housing market, given tough qualifying rules and high prices. Pooling resources is a great way to take you from the fringes of homeownership to landing what you really want and getting a start on wealth building. http://ow.ly/2HmT50uLAcE

This is an interesting list of projects you may want to consider tackling if you're planning on selling (or even if you're not, but just want to spruce up certain areas).

Ah, the eternal question: "which type of mortgage should I get, fixed or variable?". I can help you decide which is more suitable for your situation, with expert and personalized advice.

Need a financial reset? If you have a lot of high-interest debt, you may be able to roll everything into one manageable monthly payment in a low-interest mortgage and potentially save thousands of dollars in interest. I can provide a personalized analysis so you can determine whether a refinance makes sense. #TipTuesday

The purpose of a home inspection is to help you make an informed decision to purchase (or not) based on the current condition of the house. http://ow.ly/5OZW50uGeI0

Yes, there's plenty of bad advice out there for prospective homebuyers! Here's some good advice: work with a mortgage broker to get your very best mortgage.

Get in touch if you'd like to get your landscaping project going. I can help with a sensible financing plan.

Preparation, communication and flexibility are key to surviving a major home reno project.

Just one of the many reasons to work with an experienced mortgage professional!