Aemen Farho

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A large percent of mortgages renew every Spring, which means that if you are renewing in 2022, chance are you have received a letter from your lender, or soon will. This is your cue to get in touch with me for an assessment of your situation and professional mortgage advice! At renewal, you can renegotiate everything pertaining to your mortgage with no penalties which means this is an important moment of opportunity. I"ll shop the market to make sure you're getting the best deal possible. If you're considering refinancing your mortgage to pay off debt, complete renovations, or pay for a major expense ahead, we can discuss that too. I'm here to help!

The mortgage and rate environments are continually shifting and changing, which means getting advice from an experienced mortgage professional has never been more important. Get in touch for excellent, convenient service! You'll save time... and stress less!

The Bank of Canada announced today that it is holding the key rate steady, noting that the recovery continues to require extraordinary monetary policy support. It's a good time to get in touch if you need a mortgage, or for a review of your mortgage strategy. Get advice and a professional assessment of your situation, and discuss the potential benefits of switching your mortgage for a lower rate or refinancing for debt consolidation, renovations, or other large expenditures.

The freelance and gig economy is booming! The freedom that many enjoy with this type of work can come at a price: it can be challenging to get a mortgage. But it's certainly not impossible! Get in touch and I will outline what you'll need to prove your income, and discuss other key factors like downpayment, credit score, and debt-to-income ratio. I have access to multiple lenders that will increase your chances. ... If you work at home, you may be eligible for home office deductions, which could result in tax savings that will make owning your home a bit more affordable. Let's talk!

How much downpayment do you need and where can you source it? If your home will be owner-occupied, then 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 is 20%. Not surprisingly most homebuyers access their savings and equity. Increasingly, homebuyers are turning to their RRSPs and financial gifts from family. If you have any questions about... using your RRSPs or what's involved in a financial gift, get in touch. Getting advice early is a key part of the homebuying process!

Mortgage rates can be misleading and complex. The lowest rates aren’t available for all situations, such as conventional mortgages, refinances, 30-year amortizations, and rental properties. Rates are also used as a lure in online rate ads. But the reality is that once you've read the fine print, you may find you don’t actually qualify for that rate, and there are often restrictions that could really cost homeowners in the long run. If you see an online rate ad, do all the research you can, but also be sure to get in touch. It’s my job to understand your situation and look out for your best interests.

Are you overwhelmed with the monthly payments on your high-interest credit card debt? The best solution might be debt consolidation using a mortgage refinance. You may be able to pay off all of that high-interest debt with a new low-rate mortgage, allowing you to save significant interest costs, pay less each month on your debt for improved cash flow, have one manageable payment, and reduce your stress! Essentially, you get a financial reset that will allow you to focus on ...the future and build wealth. You need to have enough home equity and there are costs involved when you break your current mortgage. Together, we can do a cost/benefit analysis to help you determine if this reset strategy is right for you.

You don't have to worry about getting rate quotes when you work with a Mortgage Broker! With access to over 50 lenders, including major banks, credit unions, national, regional, and private lenders... I will shop the market for you. If you are seeing low online rates, do your research but be sure to get in touch to discuss, as rock-bottom online rates often come with restrictions and high penalties that could work against you in the long run. Important mortgage privileges don't fit in a rate ad but are critical when determining the best mortgage for your situation.

If you have 20% down or more, you can choose a 30-year amortization, which allows you to minimize your mortgage payments and free up cash flow for uses like investing, business needs, post-secondary education, maternity leave, home maintenance, or other life situations. You can keep your payments at a shorter amortization and only use this flexibility if the need arises. Having a mortgage that gives you room to breathe may be worth the cost in interest. Get in touch to determine if this strategy is right for you.

Our hot housing market has greatly increased home values, and with mortgage rates hovering around historic lows, homeowners with enough equity are seizing the opportunity to tap into that equity to create the perfect home that fits their lifestyle and to further boost long-term value. You can access your home equity through: a mortgage refinance, home equity line of credit, ... a second mortgage, or a program called 'refinance plus improvements' Interested in finding out how to start the process for your next home reno? Let's have a conversation!

It's actually best to start with #6!

Are you stressed over the stress test? Perhaps you have a low credit score, your debt-to-income is too high, or you are self-employed. Your best option is to get in touch for advice! We can discuss what's involved in getting help from family, or advise on non-traditional channels that don't use the stress test.

Most Canadians suffer with their highest personal debt load at this time of year, when holiday spending credit card statements have arrived. You may be able to use your home equity to consolidate that high-interest debt (20% equity is needed) into your mortgage. With extremely low pandemic mortgage rates, every month you could be seeing a big difference: a boost to your monthly cash flow... one easy payment faster debt paydown, and potentially thousands of dollars in interest savings. I can crunch the numbers to see if this makes sense for you. It could be the start of a new financial life!

There are some common pitfalls among many first-time buyers who don’t seek out professional advice and guidance. When you work with a Mortgage Broker, you get the education you need to make informed decisions throughout the homebuying process. Knowledge is power and it’s best to get that knowledge as early in the process as possible. Are you getting ready to jump into homeownership? Let's have a conversation to make sure your experience is efficient, cost effective and, above all, successful!

Will prices go up or down? How about rates? Here are some predictions... but nobody can say for certain what the future holds. Stay focused on your goals and get in touch for expert mortgage advice tailored to your situation.

1.44 % interest rate on new purchases and transfers ( 5 years Fixed ) LIMITED TIME!!! TAKE ADVANTAGE OF THE LOWEST RATE !!! Contact me for free consultation and see how much money I can save you !!!... Cell : 519-567-8678 Email: [email protected]

This is good info for anyone planning to buy their first home.

If you need help polishing your score so you can qualify for the best rates, get in touch.

The Bank of Canada has announced it is maintaining the benchmark rate, noting that Canada’s economic recovery will continue to require extraordinary monetary policy support. The Bank says it will hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the two per cent inflation target is achieved, which the Bank doesn’t expect to happen until sometime in 2023. The next rate-setting day is January 20th, 2021. The beginning of the new year will be a great time to get in touch for a review of your mortgage strategy. It's important to get advice and a personal assessment of your situation if you want to switch your mortgage for a lower rate, need a new mortgage, are renewing or looking to refinance for debt consolidation, renovations or other large expenditures.