Key Mortgage Agent
345 Kingston Road L1V 1A1 Pickering, ON, Canada

Expert in finding solutions for all your mortgage needs.

Let’s start a conversation, how do you feel about the current stress test? Follow the link and see what business experts are saying about it.

HELOC: Home Equity Line Of Credit Is marketed as a cheaper source of credit but many consumers do not have a full understanding of how it work or some of the basic facts of just what it is or how best to use it. The truth is, HELOC can easily become an eternal revolving debt that will rob you the ability to build wealth from your home mortgage if it's not used properly. In a recent survey put out in the CBC News article attached, 62 pre cent of Canadians using HELOC and pays ...interest only; 18 per cent not know their full balance of their HELOC; 19 per cent of user borrowed more then they needed. Here is what you need to know about HELOC: - Rates are usually set at prime (based on the Bank of Canada) plus premium - Banks change the premium to their discretion - interest rates began climbing in 2017 and 2018, rates are likely to rise further in 2019 - Banks can raise the rate of HELOC at any time - Banks can demand the balance of a HELOC at any time - There are fees to transfer a HELOC to another institution - Banks can change the credit one limit at any time - Your HELOC is more expensive that a mortgage as the interest rate is higher click the link and read more about HELOC.

Private mortgage lenders are more willing to take on a more riskier mortgage deal than that of bank. Private mortgages also carries a higher interest rate than that of a traditional mortgage. However, #mortgageconsumers have very little choice due to a combination of recent changes within the mortgage market. Mortgage rates have increased, home prices have risen and there are tougher standards of qualification to obtain a mortgage. Private mortgage lending is now a 1.5 billion dollar business, a massive jump from $920 million in the first quarter in 2016. Twenty per cent of refinancing of mortgage deals are now funded by private lenders, that a 67 per cent jump from the first quarter of 2016. Follow the link to read more.

Interest rate is now 1.75%. There are still great options available. Call (647)888-7167 for more information. Follow for all your latest mortgage news.Interest rate is now 1.75%. There are still great options available. Call (647)888-7167 for more information. Follow for all your latest mortgage news.

Don't be in such a rush to want balance in the #housingmarket in Canada because the " difference in market balance will likely come into sharper focus as interest rates rise and cause this year's new mortgage stress-test to become even more restrictive." Follow Key Mortgage Agent for all your latest mortgage news. Visit www.keymortgageagent.com and use my services for money solution for all your mortgage needs.