Maurizio Calabretta Mortgage Broker

When buying a home expenses can add up quickly so it’s important to understand the full costs involved. http://ow.ly/WXIxa

Have you been able to put extra money away this year? With our new government, some of the permitted contribution limits might be changing.

Canada is in number 4 spot with respect to house price growth, one of the fastest paces in the world.

What is the best bang for your renovation buck? Kitchen, income suites, bathrooms, flooring and fixtures those five items are a pretty much guarantee to give you a great return on investment, says Scott McGillivray, HGTV host and author of How To Add Value To Your Home. Once you decide which project you would like to tackle, call to review how your home equity can help you with the reno bills.

Toronto housing market matches Vancouver strength as detached home prices climb to $1.1M in May. Toronto’s existing housing market shows no signs of a slowdown in price growth but a shortage of supply is having an impact on overall sales numbers. Even though there is a shortage of listings in some market segments, we’re experiencing a record high of number of sales. In Toronto, there is also no indication of any let up in the demand for detached properties. In the City of Toronto, not including the suburbs, the average detached home sold for just over $1M in May which is close to a 20% increase from a year ago!

Interesting fact released by CMHC. CMHC’s survey was conducted online and polled 3,510 recent mortgage consumers who had undertaken a mortgage transaction in the preceding 12 months. Among the coveted first-time buyer segment, brokers now own the lion’s share (55%) of the market. Last year it was 48%. Broker's strong relationships with banks have helped to achieve optimal solutions and product offerings for clients, options for a range of potential borrowers.

Great article, must read!

Here are a few great strategies that can reduce approximately 9 years and over $70,000 off of your mortgage

Mortgage Tip: When you apply for a mortgage, the lender will review you Capacity. This means that your income will be compared against your monthly expenses. You don't want to be house-poor when you buy your home and the lender wants to make sure that you can meet all of your monthly financial obligations. That makes for a happy home owner!

Tighter mortgage rules for self-employed have not stopped us from working hard for our clients. As a mortgage broker, we have relationships with various lending institutions and are able to steer you toward the best mortgage for your particular situation.

Shopping for a mortgage? There are many options. And as mortgage experts, we have access to them all! Instead of spending time at various banks and credit unions, call us. It's our job to do the shopping for you and present the best options for your financial situation.

"A new report says that Canadian residential real estate has been getting a huge boost from so-called echo boomers, those in the 20-38 age bracket." Are you finding the same in your community?

We work with many new immigrants who share the dream of homeownership in Canada. It is good to know your options and we can help you realize the dream of homeownership sooner.

According to Canada Mortgage and Housing Corporation, it's mortgage lending business will continue to shrink this year. A tighter restriction on loans as imposed by recent rule tightening from Ottawa is the main reason.

Mortgage Tip: Looking for a super low rate? Better read the fine print. Sometimes those cut-rate mortgages come with higher fees, penalties, or restrictive terms, which could prove more costly over the long term than a slightly higher-rate mortgage with flexible terms.

Having a good credit score today is critical for financial success. Taken into account are many factors beyond just timely payments (although those are extremely important). Here are 5 easy ways to ruin a perfect credit score: 1. You run up a large balance on your credit cards (even if you pay it off every month).... 2. You assume your spouse’s credit actions have nothing to do with yours. 3. You close or open several credit card accounts at once. 4. You co-sign a loan for a friend or family member. 5. You don’t check your credit reports on a regular basis.

Keep your credit score in check and pay your phone bill on time! Paying your bills on time has always been the most important credit habit. Equifax recently started to include phone companies on credit bureau reports so your lender can see if you have any delinquencies with your phone bills. Good credit habits will help you get a better mortgage deal.

Mortgage Tip: Not all prepayment penalties are created equal. If you ever need to get out of your mortgage early, the right mortgage could save you thousands. Not all lenders calculate penalties the same way, and the differences can be substantial. It helps to know which lenders have the most fair prepayment penalties. With access to dozens of lenders, we’ve got that information at our fingertips.

In some markets, real estate bidding wars are common place. Check out these stories from across Canada.

Don't let being single stop you from your homeownership goals. But do have a plan and get expert advice on owning a home of your very own.

There is good debt, like your mortgage, and bad debt, like your credit card balance. Check out this great video about warning signs telling you that you might have too much of the bad debt.

Recent survey revealed that Canadian families saw both higher net worth in recent years, as the value of their homes and pensions grew, and higher debt loads due to bigger mortgages and lines of credit.

If your mortgage is up for renewal, you might be tempted to lock in the current mortgage rate through an early renewal offered by your lender. But is this the right move?

Are you seeing higher home prices in your neighbourhood?

Experts predict more mortgage restrictions in 2014. One rule change could be the elimination of the 30-year amortization period, which is a popular option among borrowers.

This is interesting: Downtown micro-condo development hopes to attract first time buyers with an affordable, convertible space with built-in furniture. The spaces are small about 500 square feet and start at $199,900. Condos have really evolved to reflect the new realities of intensified urban living.

Condo buying can be very exciting! Before you start, here are some condo buying tips to help determine how much mortgage you can afford. We will crunch the numbers with you and make sure that your buying process is stress free!

According to research from TD Canada Trust, 73 per cent of Canadians bought or expect to buy their first home with their significant other.

Move over Arizona, some savvy investors are now moving to capitalize on the opportunity in many tropical destinations to offer North American snowbirds with rental accommodations, at the same time they make second homes for themselves.

Great Article on Credit- One of the most overlooked financial mistakes we make! http://www.ottawacitizen.com//Finance+k/9108280/story.html