Mortgage With Steve
83 Dawson Manor Blvd L3X 2H5 Newmarket, ON, Canada

It's been so long since I posted something, and like most people, have had so many things on my mind these last several months. I thought the other day how I will be missing friends and family this Holiday Season, so just wanted to reach out to everyone and wish them a joyful Christmas and a prosperous 2021! Stay Safe and I cannot wait till we all meet again.

For those who have not heard, CMHC has made changes regarding Mortgage Qualifying, commencing on July 1st, 2020. In short, this will reduce the amount client's can qualify for, so getting an approval prior to July 1st may be necessary to secure the home you want. For further information and assessment, contact me anytime at 416-432-4365, [email protected], or download my mobile app at https://mccapp.ca/app/steve-zimmermann

Hello All, I hope the warmer weather is being enjoyed responsibly and that everyone is staying safe. I wanted to announce the Bank of Canada has lowered the Benchmark (Qualifying Rate) 10 basis points to 4.94%, allowing clients to qualify for slightly higher purchase prices. If you would like to see how this affects you, contact me anytime at 416-432-4365 or download my mobile App at https://mccapp.ca/app/steve-zimmermann

Over the last week, Fixed/Variable Mortgage Rates have increased dramatically, despite a drop of the Prime Lending Rate. Below is a quick read article detailing why, but the bottom line is that Banks are seeing Higher Risks of default due to COVID-19 and passing those costs down to lenders. If your in a renewal situation or waiting to close your new home, talk to a Mortgage Professional Today! Interest rates are being slashed to record lows, so why are mortgage rates inching higher? https://www.cbc.ca//interest-rates-coronavirus-evans-1.551

GREAT NEWS! I just wanted to share that the Bank of Canada lowered the Prime Lending Rate 1/2% [or 50 basis points] With upcoming changes [April 6, 2020] to the Stress Test for High Ratio Mortgages, combined with today's announcement, this is the best time in several years to take advantage of these changes.... Whether you are buying, moving, renovating, or consolidating debt, you can benefit from these changes. Feel free to contact me anytime at 416-432-4365 or download my app to see how this can benefit you. https://mccapp.ca/app/steve-zimmermann

Just wanted to give everyone a case study for a current client of mine. Client wants to provide a living inheritance to two (2) children by obtaining a CHIP Reverse Mortgage from Home Equity Bank on their Mortgage Free Home. The siblings will be splitting the proceeds and purchasing two (2) separate properties, which will increase in value higher than the interest paid. The two (2) additional properties (including the client's property) will essentially increase in value at... historical rates of 7 to 7.5%, allowing each party to obtain home ownership and build equity in their own homes, all with keeping equity in their Parent's Home. For those who are unfamiliar with Reverse Mortgages, they are usually payment-free and you never lose ownership of your home. Reverse Mortgage is paid out upon sale of home or death of the occupant, with Zero Discharge Fees if Death occurs. Based on today's stringent Market, this could be an option for your family to enjoy home ownership, so talk to a Reverse Mortgage Specialist today.

Happy 2020 to everyone. 2019 was a quiet year in terms of posting on social media, but with a new year comes a new commitment to focus more and offer updates on products/services on a more frequent basis. I wanted to start off by demonstrating a recent Credit Repair Success story where I helped one of my clients INCREASE THEIR CREDIT SCORE! PROBLEM: I had a client with damaged credit where she had a credit proposal 2 years ago. In short, these bad credit items were pulling d...own her score, which was currently sitting at 655 and was essentially at a stale mate. SOLUTION: Through direct contact with Equifax through a dedicated broker department and process, I was able to have Equifax remove the credit proposal items and her score has jumped from 655 to 762 basically overnight. in 2020, the best rates and products are unlocked to customers with 700 scores or higher, so this change will save her tens of thousands during the term of her next mortgage. RESULT: Lenders like to see 2 trade lines for each client and a 700 credit score. My client can now obtain a 2nd credit card due to the improved score and we will move her "B" mortgage on upcoming renewal from a 4.69% fixed rate to the "A" rates of under 3%. I am pleased to be able to add this to my services for clients, so if you or anyone you know has damaged credit, I may be able to help. Word of mouth is the best way to earn valued clients, so if anyone you know may required assistance on their credit, an introduction would be greatly appreciated. Thank you. P.S. If you may be looking for a Mortgage but are not ready to contact a professional today, download my app today at https://mccapp.ca/app/steve-zimmermann

Check out this listing by Matthew Mulhall. If your looking for a starter home or simply a realtor to help you start looking, contact him today for a consultation or a home valuation.