Jeff Attwooll / Mortgage Broker / Cambridge / Equity Care Mortgages
1400 Bishop Street N, Suite 200 N1R 6W8 Cambridge, ON, Canada

Hello Everyone, Today I wanted to share with you some contact numbers for all different lenders in order for you to contact them directly in the event you need to request a mortgage deferral. Please be patient with the lender you are calling. They are inundated with these types of requests right now as a lot of people are also affected by what is going on globally and they are all experiencing very high call volumes. Some of the lenders also have online requests, so do check... with your lenders website to see if this may be a better option for you than making a phone call. B2B: 1-800-263-8349 BMO: 1-877-895-3278 Bridgewater bank: 1-866-243-4301 CIBC Bank: 1-800-465-2422 CMLS: 1-888-995-2657 Optimum: 1-866-441-3775 Equitable bank: 1-888-334-3313 First National: 1-888-488-0794 Haventree Bank: 1-855-272-0051 Home Trust: 1-855-270-3630 HSBC: 1-888-310-4722 ICICI Bank: 1-888-424-2422 Manulife Bank: 1-877-765-2265 MCAP: 1-800-265-2624 Merix 1-877-637-4911 Marathon Mortgages: 1-855-503-6060 Royal Bank: 1-866-809-5800 RFA (formerly Street Capital): 1-877-416-7873 RMG Mortgages: 1-866-809-5800 Sciotiabank: 1-800-472-6842 TD Bank: 1-866-222-3456 As per my previous post, please do not see these payment deferrals as free payments. They are very costly in the long run as you are differing the interest to the back end of the mortgage. The compounding affect of you now paying interest on this interest is what is so costly. You should only be utilizing this potential option, if your income has been drastically affected by the COVID-19 virus and you do not have any other way to cover your upcoming mortgage payments. If you have savings or an emergency fund, than this option to defer should not be your first option as you have funds available to you to weather the storm for a bit. I wish everyone a safe and healthy social lock down, and look forward to what lies ahead once things settle down.

Hi Everyone, I Hope everyone is staying healthy and safe. I realize this is my second post of the day but I want to share as much knowledge as possible in a time when people are looking for answers.... Ive been getting many calls recently and I wanted to share my perspective on the mortgage market in the hopes of clarifying a few things for everyone. Many consumers have seen in the news that mortgage rates have decreased, but MOST lenders are INCREASING rates now. This doesnt make much sense, but consider this reasoning... Many businesses and consumers have seen a sharp and unexpected decrease in revenue/income. Because of this, they are all utilizing credit cards, lines of credit and other means of borrowed funds. Banks and lenders are also receiving a lot of deferral requests on mortgage payments which represent funds they would normally receive from their clients. Now imagine a bank had $10 billion in cash on hand last week, but now they only have $2 Billion. You can obviously see that there is a liquidity issue - demand for money is high and supply is low, and this may get worse. The Bank of Canada unveiled new measures to keep Canadas financial system flowing and support mortgage markets, as central banks step up efforts to avert a liquidity and lending crunch amid tumultuous markets. They issued a notice that the central bank temporarily buys treasury bills from dealers as a means to provide a backstop for financial institutions funding needs. It also said it stands ready, as a proactive measure to purchase Canada Mortgage Bonds (CMBs) to ensure that this important funding market functions well. To sum that all up.... We are still open for business and are working hard remotely from our homes on existing files and new mortgage requests as rates are historically still very attractive. It would be wise for you to get pre-approved and look at locking in rates now prior to any further increases by lenders. Give me a call on my cell @ 519-498-9447 or reach me by email at [email protected] to review your options.

Mortgage Deferrals: A long read but worth it! There has been a lot of media attention to deferring your mortgage payments for up to 6 months. These deferrals are backed by mortgage default insurers CMHC, Genworth and Canada Guarantee and can be applicable on high ratio insured mortgages. Conventional mortgages are also subject to mortgage payment deferrals but keep in mind that all deferral requests are subject to approval and are not guaranteed through your lender. Upon app...Continue reading

Take a look at my new Ad at the Delta in Cambridge! Whether it's a Purchase, Refianance or Renewal, I am here to help "steer" you in the right direction to becoming mortgage free faster! Call me for all your personal mortgage needs and lets work together in reaching your goals.

Hi Everyone, It's been a while since my last post but I wanted to take the time today to look back on 2018 and what has been another great year. We started off the year with new qualification rules as well as rate increases which made it harder to qualify for mortgages in addition to being more costly in the process. This is why now more than ever it is so important to speak with a Mortgage Broker such as Myself. I am a guide that helps and advises you through the process, ...making recommendations to suit what is important to you in a mortgage and can provide you with more options than just going to your local branch. I pride myself in providing honest, non-biased straight forward advice. Rates: Let’s talk rates as this is always a discussion with everyone I work with. Rate is obviously important as this is what can save you the most money, but it should never be the focal point when obtaining a mortgage. The cheapest rate doesn’t always provide you with the best flexibility, whether it be at renewal, mid term or in the event you are looking to relocate. Some mortgages have great rates but can be more costly, especially when calculating your penalty in the event you need to break your mortgage mid term. This then negates any interest savings and in turn can cost you more money in the long run. Changes: The biggest thing we have seen in the last year has been rate increases, both on Fixed rates as well as Variable rates. Gone are the days of 5y Fixed rates as low as 2.29% and Variable rates under 2% so what does this all mean? Put simply, it’s costing more to be a homeowner and people need to focus on proper budgeting to ensure that they will be able to afford their homes, not only when they are buying but also at the time of renewal. I have always taken a conservative approach when it comes to qualifying my clients as I work with your budget and provide advice on affordability so that you are well informed in addition to ensuring that you’re not overspending just to become a homeowner. This approach to advising has help build a strong, well informed clientele base who refer me their friends and family who they want to have the same advice and service. Appreciation: I am constantly grateful for the word of mouth referrals I receive from my existing/ past clients that I have helped throughout the years. In all honesty, this is truly the greatest way my clients thank me and show their appreciation in addition to sharing their experience publicly via Facebook or through Google reviews. By doing this, you make others feel more comfortable, confident and informed even before I meet them. Each referral helps me grow my business, which in turn allows me to meet and help more great people. Thank you! I look forward to working with you once again, or helping someone you trust me to work with. 2019 will be another prosperous year and I wish the same to everyone else as well.

Hello Everyone, Due to the outbreak of COVID-19, our office is temporarily closing as we adhere to social distancing practices. We are all working remotely from home during regular work hours and our VMs are being monitored throughout the day at the office number of 519-620-1175. If you wish to reach out to me directly, please feel free to call me on my cell phone # 519-498-9447. We apologize for any inconvenience this may cause, but thank your for your understanding as we do our part in trying to stop the spread of this Virus.

Keep your eyes open at the Delta Intersection in Cambridge..... Here's a sneak peak of my new billboard ad on the Jumbo tron! Let me help you find the right mortgage product at the best rate!

Hi Everyone, Thank you to everyone who has supported me in the past and who has taken the time to share your experience publicly via google reviews as well as Facebook reviews/recommendations. I would not be voted as a top 3 mortgage brokers in Cambridge by this third party website without all of your ongoing support. Call me to discuss what options are available to you regarding all types of mortgage financing....

Hello Everyone, Today's focus is on Entrepreneurs. Being an entrepreneur myself, I understand you have a vision as to where you want your business to go and how you want to grow it. Sometimes this requires you investing money into your business and freeing up cash flow to allow for this growth to happen. As you know, your income that gets reported on your Notice of Assessment may not reflect your true personal income. This is due to you deducting business expenses in order ...to save on personal income taxes. I do have access to lenders that look more favourably to self employed income and allow for higher debt servicing and not just the cookie cutter approach to qualifying. (Some conditions apply of course see below) As a small business owner, I understand that your time is important to you and therefore I can review and assess your personal situation fairly quickly. I encourage you to call me to have a quick discussion and to see if my solutions are right for you and your vision. Please share this post or tag someone you think would benefit from calling me. 519-620-1175 **If you can say YES to all of the following, it's worth your time to talk!** -Established small business owner that has been in business for a minimum 2 years. -Low balance owing on principal residence and great equity within your property. -Your property is zoned as residential. -Good Credit. -Minimum Mortgage or Line of credit amount requirement of $100,000.00 or more.

Take a look at my new Ad at the Delta in Cambridge! Whether its a Purchase, Refianance or Renewal, I am here to help "steer" you in the right direction to becoming mortgage free faster! Call me for all your personal mortgage needs and lets work together in reaching your goals.

Hi Everyone, Its been a while since my last post but I wanted to take the time today to look back on 2018 and what has been another great year. We started off the year with new qualification rules as well as rate increases which made it harder to qualify for mortgages in addition to being more costly in the process. This is why now more than ever it is so important to speak with a Mortgage Broker such as Myself. I am a guide that helps and advises you through the process, ...making recommendations to suit what is important to you in a mortgage and can provide you with more options than just going to your local branch. I pride myself in providing honest, non-biased straight forward advice. Rates: Lets talk rates as this is always a discussion with everyone I work with. Rate is obviously important as this is what can save you the most money, but it should never be the focal point when obtaining a mortgage. The cheapest rate doesnt always provide you with the best flexibility, whether it be at renewal, mid term or in the event you are looking to relocate. Some mortgages have great rates but can be more costly, especially when calculating your penalty in the event you need to break your mortgage mid term. This then negates any interest savings and in turn can cost you more money in the long run. Changes: The biggest thing we have seen in the last year has been rate increases, both on Fixed rates as well as Variable rates. Gone are the days of 5y Fixed rates as low as 2.29% and Variable rates under 2% so what does this all mean? Put simply, its costing more to be a homeowner and people need to focus on proper budgeting to ensure that they will be able to afford their homes, not only when they are buying but also at the time of renewal. I have always taken a conservative approach when it comes to qualifying my clients as I work with your budget and provide advice on affordability so that you are well informed in addition to ensuring that youre not overspending just to become a homeowner. This approach to advising has help build a strong, well informed clientele base who refer me their friends and family who they want to have the same advice and service. Appreciation: I am constantly grateful for the word of mouth referrals I receive from my existing/ past clients that I have helped throughout the years. In all honesty, this is truly the greatest way my clients thank me and show their appreciation in addition to sharing their experience publicly via Facebook or through Google reviews. By doing this, you make others feel more comfortable, confident and informed even before I meet them. Each referral helps me grow my business, which in turn allows me to meet and help more great people. Thank you! I look forward to working with you once again, or helping someone you trust me to work with. 2019 will be another prosperous year and I wish the same to everyone else as well.

Keep your eyes open at the Delta Intersection in Cambridge..... Heres a sneak peak of my new billboard ad on the Jumbo tron! Let me help you find the right mortgage product at the best rate!

Hello Everyone, Todays focus is on Entrepreneurs. Being an entrepreneur myself, I understand you have a vision as to where you want your business to go and how you want to grow it. Sometimes this requires you investing money into your business and freeing up cash flow to allow for this growth to happen. As you know, your income that gets reported on your Notice of Assessment may not reflect your true personal income. This is due to you deducting business expenses in order ...to save on personal income taxes. I do have access to lenders that look more favourably to self employed income and allow for higher debt servicing and not just the cookie cutter approach to qualifying. (Some conditions apply of course see below) As a small business owner, I understand that your time is important to you and therefore I can review and assess your personal situation fairly quickly. I encourage you to call me to have a quick discussion and to see if my solutions are right for you and your vision. Please share this post or tag someone you think would benefit from calling me. 519-620-1175 **If you can say YES to all of the following, its worth your time to talk!** -Established small business owner that has been in business for a minimum 2 years. -Low balance owing on principal residence and great equity within your property. -Your property is zoned as residential. -Good Credit. -Minimum Mortgage or Line of credit amount requirement of $100,000.00 or more.

Hi Everyone, A lot of people ask me about mortgage rates and where the market will go. This is not an easy question to answer because there are a lot of factors that can tie into the reasons behind the Bank of Canadas decisions to increase or decrease rates. I have found a very informative video that illustrates in simple terms how an economy works and why decisions around rate increases or decreases are made. Lenders are in the business of making money, but there is more ...to just increasing rates for the sake of making more money off of the consumer. Please take the time to watch this 30 minute video to educate yourself and share this post with those you know that would benefit from it. https://www.youtube.com/watch?v=PHe0bXAIuk0&feature=youtu.be

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Hello Everyone, Happy New year to you and your families! 2017 was a great first year for Equity Care Mortgages. After starting my own brokerage in January of last year, a whole lot has happened in the mortgage/ real estate market. Rising house prices, mixed in with stricter qualifying guidelines, as well as some early surprising Bank of Canada rate increases in the summer to rising fixed rates by all lending institutions...all of these things have made for a very busy, stre...ssful, and confusing time for consumers in the real estate market. As mentioned, the new qualifying guidelines for all mortgages with 20% or more equity are in effect as of January 1st of 2018. This has already translated to a bit of frustration on behalf of some borrowers as there "buying power" or borrowing limits have been reduced. Do yourself the favour and take these stresses off of your plate and speak with a licensed professional. Now more than ever is the time to speak to me regarding any mortgage/ real estate transaction. I have the knowledge, and 18 years of experience to assist you with all your inquiries and I can back up my knowledge with great customer service aided by my mortgage team. If you are in the market to buy, refinance or renew your mortgage, I am here to answer all your residential mortgage questions. I can quickly assess your situation and provide a non-biased and honest recommendation to your specific needs. See more

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Hi Everyone, With the mortgage qualifying changes happening January 1st regarding getting a mortgage with 20% or more equity, time is running out! We can still get fully underwritten pre-approvals committed prior to January 1st that will qualify under the old rules and are valid for a period of no more than 120 days from the date of approval. These are valid for 120 days assuming that there are no material changes made to the original approval. ... (see below for definition of material changes) We can also do mortgage refinance applications and submit them before January 1st that are also valid for 120 days from the date of the original approval as well! Call me to discuss your options or if you think you would be affected by the January 1st deadline. 519-620-1175 **Material changes can include requesting for more money than original approval, choosing a different mortgage product (switching from variable rate to fixed rate), choosing a different amortization (changing from 25y to a 30 year amortization) or a changing your approved term (switching from a 5y fixed rate to a 4 year fixed rate.).

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