The McMillan Mortgage Team
6981 Millcreek Drive, Suite 40 L5N 6B8 Mississauga, ON, Canada

CLIENT REVIEW ON OUR GOOGLE BUSINESS PAGE The sense of satisfaction and fulfilment we get when one of our long-time clients share how our level of service surpasses their expectation every time, they work with us. We have a great deal of gratitude to the clients who have worked and continue to work with us over the past 20 plus years.... Embracing the years to come and the building of new client relationships. Thank you, The McMillan Group .mortgages one client at a time since 1999.

ARE YOU IN A POSITION TO TAKE ADVANTAGE OF NEW OPPORTUNITIES? As we begin the second month of 2021 are you in a position to take advantage of opportunities. Stop striving for perfection and instead position yourself for opportunity. We work with home homeowners who wish to transition into real estate investors. Owning investment real estate takes a lot of research along with partnering with the right professionals. ... Here is how we do it: We analyze your risk threshold We determine your level of involvement in the property portfolio management process We determine along with you, your long-term investment goals We qualify you for various mortgage products as needed to help you build your property portfolio We research markets across Canada, parts of the Caribbean and Florida to determine with you which markets work best We work with a team of professionals including realtors, lawyers, contractors, institutional and non-institutional lenders, property managers among other to help you achieve your goals. To learn more, call us at 1-866-883-0885 or visit www.TheMcMillanGroupInc.com

"Our findings indicate that there was a higher rate of sales and price growth for low-rise homes versus condo apartments in nearly every region. For the GTA as a whole, this translated to an 11% increase in detached and semi-detached house sales but conversely a 10% decrease in condo apartment sales between April and December 2020 compared to 2019. The average house price rose 13% or $132,736 to $1,123,618 year-over-year (y-o-y) during this period, and the average condo apartment price rose just 4% or $26,056, to $621,637." Click link or copy and paste to read entire article: https://www.zoocasa.com//covid-19-urban-flight-greater-t/

ROAD TRIP WITH AN INVESTOR CLIENT Just did a road trip with one of our investor clients to look at some properties in a small township 2 hours north east of the Greater Toronto Area. We looked at a large acreage, 26 plus acres, along with a mixed-use property which gives the buyer the opportunity to live and run their own business.... Driving out of your local neighbourhoods may present opportunities that you may not have otherwise discovered. Discover Learn Invest To learn more about real investing opportunities call us at 1-866--833-0885 or visit www.TheMcMillanGroupInc.com

HOW TO CANCEL A CREDIT CARD WITHOUT HURTING YOUR CREDIT SCORE Canceling a credit card doesn’t always make sense because of the negative impacts the move can have on your credit. Here are a few factors you should look at to decide if it’s the right move for you: Credit limit: Closing a card with a higher credit limit will have a more significant impact on your credit utilization ratio than canceling a card with a lower credit limit. ... Effect on credit utilization ratio: Look at your average spending across all of your credit cards for the last few months and compare this to your combined credit limits. Calculate your credit utilization ratio and then estimate how it’ll be impacted if you cancel a credit card. If canceling the card would push your credit utilization ratio over 30%, you might want to rethink the decision or plan to charge less to your credit cards going forward to keep your ratio within a desirable range. You could also open a new credit card to bring your credit utilization ratio back down again. Account age: Canceling newer credit cards is safer than canceling older cards because it’ll have a smaller impact on your average account age. Annual fee: It might still make sense to cancel your card if it charges an annual fee that you’re not recouping in rewards each year, even though doing so might temporarily hurt your credit score. Rewards: You usually lose your rewards points once you cancel a credit card, so use any that you’ve accumulated before you close the account for good. Balance: Canceling a card without a balance makes things a lot simpler, but you can still cancel most cards if you’re carrying a balance. You’ll have to decide if you want to continue making monthly payments to your issuer or transfer the balance elsewhere. Click link to read article: https://rcmmortgagesmadesimple.com//how-to-cancel-a-credi/

"Choose whatever cliché you like bad apples spoiling bunches, bad news travelling fast the problem facing the industry is clear: a breach in ethics by one agent or broker tars the entire industry. (It doesn’t take a Fortress.) They say a person who has a pleasing experience tells five people about it but will tell nine people about a disappointing one; considering today’s prevalence of/reliance on social media, you can safely multiply the latter figure by 100. Bad news doesn’t just travel fast anymore, it travels exponentially." #mortgagebrokers #homebuyers #mortgageadvice #creditandlending #codeofconduct #ethicsandcompliance

JOURNEY TO YOUR FIRST HOME Homeownership is among one of the most exciting and rewarding experiences most folks will have. Whether you purchase pre-construction or resale, the search process to finding your first home is an exciting and extremely fulfilling journey. It is however important that you plan well for this journey and work with a team of competent professionals as mistakes along the way can be extremely costly. ... To learn more about buying your first home, visit www.TheMcMillanGroupInc.com or call 1-866-883-0885 and start your journey to homeownership.

A CHIP Reverse Mortgage Success Story: Long-time clients of The McMillan Group entrusted us to take care of their parent’s financial needs. Many Canadians at the age of 55+, like Tim and Karen, have built a substantial amount of equity in their homes. Tim and Karen live in the Seguin, Ontario area where many Canadians reside in their primary residence or vacation home. For the Tim and Karen, the banks couldn’t help them due to the location of the property (Seguin) and their a...ge (over 75 years old). After going through extensive training with CHIP business development manager Sean Russell, and outside product research, we felt confident to present to Tim & Karen the CHIP reverse mortgage product to tap into the home’s equity with no mortgage payments and it also allowed them to pay off a private mortgage with interest only payments. The clients agreed to the terms of the CHIP reverse mortgage and proceeded with the mortgage financing. The Home Equity CHIP reverse mortgage underwriting was a very seamless process from start to close. Tim & Karen were able to fund the mortgage before the Christmas holidays with approximately $4k cash in hand. I would say that is not a bad start coming into the New Year 2021 Let us be your reverse mortgage advisors! To learn more about the CHIP Reverse Mortgage and other mortgage products call our office at 905-813-4354

A Look Back At 2020 - The Year That Was "Now that the page has finally been turned on 2020, we wanted to take a look back at how mortgage rates fared over the course of what was a tumultuous year. It’s safe to say that COVID-19 stole the show in terms of the year’s biggest newsmaker. On the mortgage front, one of the biggest themes of the year ended up being the downward trend in interest rates to historic lows. Not to mention a resilient housing market that not only held its... ground in the face of a global pandemic, but one that continued to produce record-high house prices. Here’s an overview of some of the year’s top stories, rate movements and mortgage-related stocks." Click link to read entire article: https://www.canadianmortgagetrends.com//2020-year-in-revi/

What Does a Snowbird Shortage Mean for Southern Investors? The typical snowbird rental market is feeling the pinch this winter with such a drastic decrease in normal visitors, but with vaccinations on the horizon, travel should be back to normal soon. Some investors may need to simply ride out the storm, but others may be ready to look for more reliable investments and want to consider switching to a long-term rental model or potentially selling the property to the reverse snowbirds or snowchicks as a way to cut losses and start generating cash flow again. Click link to read entire article: https://www.fool.com//what-does-a-snowbird-shortage-mean-/

THANK YOU FOR VISITING OUR PAGE The McMillan Group was founded in 1995 by Raymond McMillan as an investment, insurance and financial planning consultancy. In 1999, the focus was shifted to real estate financing, working primarily with residential and small commercial property buyers. As our clients evolved, so did their need for professional advice. As they began investing in real estate, their service needs changed. To meet the needs of our changing client base, we began pro...viding consultancy services in the residential and commercial real estate market. This involves helping clients convert single-family homes to multi-family homes, land development and purchasing properties for long term, short term and vacation rentals in Canada, parts of the U.S. and the Caribbean. If you have scrolled through our page and have noted articles and content that interest you, please take a moment to like our page so you can continue to receive the information we share. Thanks in advance. The McMillan Group www.TheMcMillanGroupInc.com "The best day to buy real estate is yesterday."

Wishing All Our Clients, Family and Friends a Blessed, Healthy and Prosperous 2021

SECOND UNITS/RENTAL UNITS With rental vacancies almost no-existent and many home owners building basement rental suits, let us and our team help you construct a legal and zoning compliant second suite. Contact us at 1-866-883-0885 to get your project started.... Click link to learn about municipal assistance with your project. https://rcmmortgagesmadesimple.com//funding-available-in-/

They say the only constant in life is change. And the change couldn't have come at a better time - as we start a new month and new quarter, the last quarter of an interesting year so far. "Starting the new month with fresh beginnings , I do look forward working with the Mortgage Alliance team to provide the 20 years of first class service to our clients. Ecstatic to build a team of vibrant mortgage agents who share the same values and integrity."... #newbeginnings #celebrations #teamleader #mortgagealliance

"Zhang, a realtor, rented out the four-bedroom home to Syed to live in with his family in late March. Within a month or so she found out it had been turned into a rooming house for more than 20 people. "

https://riverrockmic.com/riverrock-radio-episodes/ If you are a Mortgage Professional or interested in joining the mortgage industry, this is a must listen to podcast with two industry stalwarts. "Ron Butler of Butler Mortgage and our CEO Nick Kyprianou take the gloves off and pull no punches in our opening episode. They talk mortgages, pet peeves, social media, and more." #mortgageagent #mortgageindustry #mortgageadvice

"Mollberg says acquiring a realtor’s license shouldn’t be too intellectually taxing for most mortgage brokers, given the complexity they are used to dealing with. While mentoring with his father, a long-time realtor himself, and digging into the guts of a sale, Mollberg was shocked by how little he had to do. ‘This is all I have to present? This is all the paperwork? This is ridiculous,’ he remembers telling his dad. Mortgages are a hell of a lot more complex." #realestate #mortgagebrokers #mortgage #homebuyers

INVESTING IN MULTI-FAMILY RESIDENTIAL REAL ESTATE A multi-family residential property is a building with five or more residential units. Examples include apartment buildings, five-plexes. six-plexes and larger. The multi-family asset class is the most popular and largest portion of commercial real estate in Canada. Inventory is plentiful, and there is a range of options to suit every type of buyer.... Many buyers choose multi-family buildings because the revenue and occupancy are consistent. This makes it a less risky investment. With multi-family buildings, buyers can start small and grow their portfolios as they hone their operational expertise. Stop worrying about basement tenants and focus on building a real estate portfolio that can quickly grow into millions and provide a substantial income. Learn from our team of experts the ins and outs of finding, purchasing and financing this lucrative real estate asset class. Call us at 1-866-883-0885 to schedule your consultation. #realestate #mortgage #multifamilyrealestate #multifamilyfinancing

Attending the Buzz Conference hosted by Barry Lebow and Richard Silver. #thebuzzconference

The Province of Ontario will test its Alert Ready system on November 25. They will issue a test message over television, radio, and compatible wireless devices. If you have a compatible cell phone, you will receive an Alert Ready message from the Province: https://alertready.ca/

Funding available in Brampton, Caledon and Mississauga to create affordable rental housing Marta Marychuk Caledon Enterprise Thursday, October 22, 2020... The Region of Peel has launched a new program to help eligible homeowners in Brampton, Caledon and Mississauga create more affordable rental housing. The My Home Second Unit Renovation program provides up to $30,000 in forgivable, interest-free loans to homeowners who want to upgrade existing second units and rent them out at affordable rates. Up to $20,000 in interest-free, forgivable loans is available for eligible homeowners with an existing second unit. The loan supports renovations and repairs needed to bring their unit in compliance with the Ontario Building Code. Recipients must register the renovated unit with their municipality and rent it out at an affordable rate to have the loan forgiven. Up to $30,000 in interest-free forgivable loans is available for homeowners who meet the above criteria and rent their renovated unit to a tenant referred to them by the Region of Peel Housing Services. Up to 10 per cent of funding is available upfront as a grant to secure a contractor. The region also provides support to help homeowners and tenants maintain successful rentals. The program, which is one of several initiatives the region is creating to address the chronic shortage of affordable rental units in Peel, is currently funded to create 57 new affordable units in Peel each year while making home ownership more affordable for loan recipients. Optimizing existing housing stock in the community is one of five strategies to address housing affordability in the region’s long-term Peel Housing and Homelessness Plan. The market rate for housing in Peel today is unaffordable for 80 per cent of our residents, said Aileen Baird, director of housing services, in a statement. This pressure will only increase as Peel’s population continues to grow, while only 0.03 per cent of new units built each year are affordable." More information is available at https://www.peelregion.ca//second-unit-renovation-program.

I prefer the term "least expensive" as opposed to "cheap". Cheap denotes, at least to me, inferior quality. Nevertheless these are some amazing prices for homes in the Greater Toronto Area. #realestate #mortgageadvice #homebuyers #housing #torontohomes

COMMERCIAL DEAL OF THE MONTH Our deal of the month in October was the financing of a stand-alone commercial property in London, Ontario. A client purchased a property to expand his grocery store and better serve his... customer base. He wanted financing of between 75 to 80 percent of the appraised value, as he needed funds to totally renovate before moving in. The property (not the one pictured here) needed significant work done to bring it to an acceptable standard prior to the move in date. We secured 80% financing by an additional collateral charge against their principal residence at 7.99% with a 3.00% lender fee. When we received the appraisal and saw the condition of the property, we were convinced the lender was going to walk away or reduce the advance. Neither happened, and the deal closed as smoothly as we could have wished for. We specialize in non-traditional mortgage financing for those unique and hard to place mortgages. Contact us at 1-866-883-0885 to learn how we do it. #commercialmortgages #mortgageadvice #financingrealestate