Karl Berzins

To be B-20 compliant, you must pass the stress test to see if you can afford your mortgage payments should rates suddenly rise. It is a tool used by the big banks to protect our economy from a housing crises like our friends had down south. Fortunately, Canada has never had the 'teaser rates' they had, which was the biggest contributor to the downfall. Imagine getting a mortgage with a payment, and then that payment goes up after 6 months... Didn't work out too well. In Ca...nada the banks do it differently, and more safely. They make sure you can afford your mortgage payments, should rates go up to their benchmark rate, which is rising from 4.79% to 5.25%. This does not mean you will be paying more for a mortgage. This will mostly affect first-time buyers, and will only reduce their eligibility by about 5% of the total mortgage amount. Fortunately, this may cool the 'sold for 200k over asking' transactions happening now... We'll see. There are, HOWEVER, lenders who are not bound by the same rules! So not to worry, you may have more options than you think! Any questions, contact me anytime. No charge, no pressure. Let's talk. . . . . . #b20compliance #stresstest #boc #firsttimehomebuyer #mortgageagent #mortgagebroker #realmortgageassociates #newhome #refinance #heloc #badcreditnoproblem #homepurchase #debtconsolidation #mortgageadvice #islington #etobicoke #eatonville

Sponsoring the #neighboursofbloorwestvillage magazine. First person to respond was my uncle who lives in the neighbourhood! . .... . . . #bloorwestvillage #bloorstreet #roncyvillage #kingandqueen #mortgageagent #mortgagebroker #realmortgageassociates #newhome #refinance #heloc #badcreditnoproblem #homepurchase #debtconsolidation #mortgageadvice #islington #etobicoke #eatonville See more

Did you know you can buy a house without a realtor? The question is, why would you? It would be like buying your next car from a vending machine. Wouldn't you like a few questions answered before committing to a major purchase? Mortgage agents and brokers have access to lenders the general public doesn't. Some with lower rates, some with product features that may save you in the long run, and of course, most of the big banks as well. We take your life scenario, and appl...y to the best lender with the best product - for you. No charge. When's the last time you got a FREE service that saved you time and money? With a mortgage agent or broker, we pull your credit ONCE to find out what you qualify for. When you shop around on your own for your ideal rate and product, your credit gets dinged with every lender you speak to. This is how we further protect your credit score. Always deal with a broker or agent you can trust. Let's talk. . . . . #buyingsmart #homeshopping #torontomortgages #torontomortgageagent #mortgageagent #mortgagebroker #realmortgageassociates #newhome #refinance #heloc #badcreditnoproblem #homepurchase #debtconsolidation #mortgageadvice #islington #etobicoke #eatonville

With everyone having different life plans and income amounts - it's unknown if that super low rate will actually save you money. Penalties are high when the rate is low. The no-frills mortgages typically charge larger penalties. Moving soon? You might have to pay a penalty to port the mortgage. ... Have extra money to put down? The lender might charge you money for giving them money. A slightly higher rate could actually save you thousands down the road. I'll make sure it does. . . . . . . #torontomortgages #torontomortgageagent #mortgageagent #mortgagebroker #realmortgageassociates #newhome #refinance #heloc #badcreditnoproblem #homepurchase #debtconsolidation #mortgageadvice #islington #etobicoke #eatonville #savemoney #lowestinterestrate

You may have found homes that are the perfect size and layout, in your desired location... but don't exactly seem habitable in their current state. Have the quote for the renovation included in your mortgage application, and enjoy the combined payment! Time to revisit those houses that you thought may have been haunted! ... . . . . . . #freshnewdrywall #kitchenreno #bathroomreno #mortgageagent #mortgagebroker #realmortgageassociates #newhome #refinance #heloc #badcreditnoproblem #homepurchase #debtconsolidation #mortgageadvice #islington #etobicoke #eatonville See more