Dominion Lending Centres, JM Molloy, Toronto Mortgage
1052 Kingston Road M4E 1T4 Toronto, ON, Canada

Novembers at the office

Monday Mortgage Term: Loan to Value (LTV) LTV is a ratio financial institutions use to assess the risk of lending money to a borrower/borrowers. LTV also dictates what type of mortgage, insured or uninsured, you can qualify for. If you divide your mortgage amount by the appraised property value and multiply by 100 you get your LTV percentage. For example, say you need to borrow $400,000 on a $500,000 purchase, your LTV would be 80%. ... #mondaymortgage #mortgage #torontomortgages #mortgageagent

What is the Canadian government's Home Buyers' Plan (HBP)? The HBP allows borrowers to withdraw up to $35K from their RRSP’s, tax free. The RRSP funds you withdraw must be in your account for at least 90 day. The funds are repayable and must be repaid within 15 years. Call us today to find out if withdrawing from your RRSP can help you qualify for your first home purchase - 647-425-2915... #mortgage #mortgagebroker #torontomortgages

We all know the weather this time of year likes to play games with us... and so do the big banks! Come to me for mortgage advice to avoid being left in the cold by the banks hot offers. #morgage #torontomortgages #mortgageagent

Monday Mortgage Term: Joint Tenancy Joint Tenancy is a type of co-ownership where both tenants own 100% of the property. This means if one tenant passes away, the property automatically becomes the surviving tenant’s without having to go through the probate process. Call us to learn more about joint tenancy - 647-425-2915... #mortgage #mortgageagent #mondaymortgage #torontomortgage #torontomortgageagent See more

Most of the time when first-time homebuyers are looking into mortgage options, they get fixated on the rate. A mortgage is more than a rate so you should have a mortgage agent who looks at your mortgage as more than a rate. Did you know the biggest differentiating factor between mortgage lenders is how they calculate break penalties? ... There are 4 ways lenders calculate fixed rate break penalties. Some can be very costly and this prevents you from adapting to the changes in the market. Contact us today to learn about the best mortgage fit for you and your future plans - 647-425-2915

What is a refinance? To refinance your home means to renegotiate your current mortgage terms and this allowed you access to equity in your home. Some main reasons clients refinance: 1. To obtain a lower interest rate ... 2. To lower monthly costs 3. To consolidate debt Contact me for more information on how to refinance your home - 647-425-2915

Money laundering?

Why is it important to get pre-approved before going home shopping? The biggest reason, peace of mind! Purchasing a home for the first time is a daunting and stressful experience. Be prepared before you start your search. Contact me to pre-approved today - 647-425-2915

Fridays in the office, GO RAPTORS!

Get to know me! I am a fully licensed mortgage professional with Dominion Lending Centres who has been in the industry for almost 10 years. I have access to more than 90 lending institutions - from big banks to credit unions, trust companies and private lenders. Fun facts: ... Avid traveller Big baseball fan (visited 26/30 MLB baseballs stadiums) Enjoys working out and holds a masters in Strength and Conditioning! See more

Ok, today we are going to talk about 5 ways you can make money when youre not working. You work hard for your money. Wouldnt it be nice if your money started working hard for you? By doing a little up-front legwork and investment, you can create an ongoing income stream that continues, even when youre on the beach sipping a Mai Tai. Here are 5 ways to generate passive income https://www.youtube.com/embed/6-RAFTxWv8I?rel=0;autoplay=1

There's a reason why most of the wealthiest people on the planet are self-employed business owners -- it pays! And with unemployment still relatively high, more and more people are choosing to start their own businesses. Fortunately, thanks to innovations in technology, this is a lot easier than it used to be. Here are 7 reasons why it pays to own your own business... https://www.youtube.com/embed/JYZb3Kk6go8?rel=0;autoplay=1

Ok, today we are going to talk about saving for a down payment and how to know when you can afford to buy a home. Experts say the cheapest, most efficient way to buy a house is to make a 20% down payment. But today, thats a huge amount of money! Here are 4 factors to consider when determining if you can afford to buy https://www.youtube.com/embed/LU3B3Cqw_ew?rel=0;autoplay=1

Ok, today we are going to talk about 5 ways to pay for home improvements. Have you been considering a home improvement project lately? Maybe youd like to add an extra room, more floorspace to your home, or simply update your kitchen and bathroom. Whatever your plans, you first have to decide how youre going to pay for it. Here are 5 ways to fund your next renovation or home improvement project https://www.youtube.com/embed/MQZYWRQT8XM?rel=0;autoplay=1

Have you ever considered adding an outdoor shower to your backyard? Here a few tips and things to consider for adding practicality, enjoyment and even value to your home by installing a backyard shower https://www.youtube.com/embed/9UgeXRLZBew?rel=0;autoplay=1

Ok, today were going to talk about the importance of the home appraisal in nailing down a deal. In every real estate transaction, theres the price the seller would like to receive and the price the buyer would like to pay. But theres one other price that can overrule both those prices: the lenders appraisal. Here are 4 ways to protect yourself from a low appraisal https://www.youtube.com/embed/LHoLlTQy7HA?rel=0;autoplay=1

You've probably noticed identity theft is becoming more and more prevalent out there. Thousands of people are unwittingly falling prey to this crime every single month its crazy! Dont let this happen to you. Get informed. Watch this short video I just created and learn how to protect yourself from identity theft. This is important. Check it out and then share it with your friends https://www.youtube.com/embed/ZKolfdwQZrg?rel=0;autoplay=1

Ok, today we are going to talk about 4 ways to get the lowest possible refinance rate. If youre thinking about refinancing, there are ways to make your rate even lower than you think. Here are 4 ways to make sure you get the lowest possible refinance rate https://www.youtube.com/embed/z71_EnnYt_k?rel=0;autoplay=1

Its important to know what type of interest youre paying when you take out a mortgage. There are basically two types, but each of them is sometimes known by more than one name. Here's what you need to know... https://www.youtube.com/embed/4CvHq1n0zaA?rel=0;autoplay=1

Ok, today we are going to talk about when an all-cash offer is the right moveSurprisingly, lots of people make all-cash offers on houses.According to one study, up to 29% of single-family home and condo purchases in 2017 were all-cash. Here are the advantages and disadvantages to purchasing a home with all cash https://www.youtube.com/embed/DmHbeJAOwCw?rel=0;autoplay=1

Ok, today we are going to talk about how Airbnb income will help you qualify for mortgage refinancing. Are you renting your home through Airbnb? Or ever thought about it? You might after you read about some of the perks you can get when it comes to refinancing or qualifying for a second mortgage. Here are 7 tips for using Airbnb income when applying for a mortgage https://www.youtube.com/embed/CTi2Eaax0bQ?rel=0;autoplay=1

Ok, today we are going to talk about some things you should never put on a credit card. Credit cards make purchases more convenient. But in some cases, that convenience comes with too high a price. Here are 5 things you should never put on a credit card https://www.youtube.com/embed/8mOFv2o10xI?rel=0;autoplay=1

Ok, today we are going to talk about a rather yucky but important topic -- how to prepare for a natural disaster, when it comes to your mortgage. Lets face it: with wildfires, hurricanes, floods and tornadoes on the increase, almost all of us will be at risk some day. Talking to your insurance company in advance is essentialbut dont forget your mortgage. Here is what every homeowner needs to know about how your mortgage can be impacted by a natural disaster https://www.youtube.com/embed/mjPr37-ENWQ?rel=0;autoplay=1

When you buy a home, youll probably be asked if youd like mortgage insurance. But if you already have life insurance, do you really need mortgage insurance too? Well, it depends. Here are some factors to consider... https://www.youtube.com/embed/nPsOT-DfA8Y?rel=0;autoplay=1

Heres a special resource for you or anyone you know who is planning on moving house in the next 6 monthshttps://www.youtube.com/embed/pv35Imotg5s?rel=0;autoplay=1

Ok, today we are going to talk about how you can protect your home while you are away on a vacation. At this point, youve made your plans, booked your trip and are looking forward to a week or two away from work. But while youre thinking about what to pack, give some thought to home security. Is your home protected while you are away? Do you have a security camera or neighbors looking out for you? Here are 7 steps to protect your home while you are away https://www.youtube.com/embed/Hdzajc65d80?rel=0;autoplay=1

Have you ever wondered which is smarter: To pay off your mortgage or use that money to invest in retirement? Here are a few factors to consider...https://www.youtube.com/embed/8CMgUxWcvck?rel=0;autoplay=1

Ok, today we are going to talk about avoiding probate conflicts by setting up a living trust. Wills and living trusts are legal documents that distribute property. Both are useful estate planning tools, but there are important differences. Heres what every homeowner needs to know about living trusts. https://www.youtube.com/embed/-HlSVXWPNZQ?rel=0;autoplay=1

Ok, today we are going to talk about home construction loans. If youve decided the only way to get everything you want in a house is to have it custom built, youll probably need a construction loan. Because buying a lot and building a house is more complicated and time-consuming than simply moving into an existing home, construction loans usually involve more expense and effort than regular mortgages. However, this may be the only way to turn your dreams into reality! So heres everything you need to know about home construction loans https://www.youtube.com/embed/1-j_tiTfyYI?rel=0;autoplay=1

Ok, today we are going to talk about what you should and should not fight the buyer on after your home inspection. Buying a home involves a lot of give and take. Sometimes, though, buyers are tempted to insist that minor inspection findings be addressed. Unfortunately, this can be a bad idea both for the deal and your future satisfaction. Heres what NOT to fight for after your home inspection https://www.youtube.com/embed/127Y_kQZQfE?rel=0;autoplay=1

Most people have regular checkups for their health, car and investment portfolio. But whens the last time you had a checkup for your mortgage? Here's why it's so important... https://www.youtube.com/embed/hXC8z0AEnfk?rel=0;autoplay=1

Ok, today we're going to talk about what NOT do to when selling your home. When you moved in, your homes decor may have been the height of fashion. But fashions change. You may still love your home just the way it is, but that doesnt mean todays buyers will. If you want to ensure a quick sale for top dollar. Here are 8 things that could make your home harder to sell https://www.youtube.com/embed/Kd_vaJOJAp8?rel=0;autoplay=1

Ok, today we are going to talk about how you can spice up and add value to your kitchen without doing a complete renovation. Here are 6 simple, low-cost ways to add new vitality and style to your kitchenhttps://www.youtube.com/embed/JeMX-B2MVd8?rel=0;autoplay=1

Today we're going to talk about how to save for a down payment. Back in the day, you could buy a big house for $100,000. But now it seems like thats just the price for the down payment. Most of the time, your down payment will be 20%. So on a $500,000 house, thats $100,000 down! Even a $300,000 condo would require a $60,000 down payment. Here are 5 ways to save for a down payment https://www.youtube.com/embed/kEwR1-eHAUs?rel=0;autoplay=1

OK, today were going to talk about BAD DEBT and why you need to avoid it like the plague. There are two kids of debt: Good debt and bad debt. Good debt is used to buy assets that provide positive cash flow and/or appreciate in value. Bad debt, on the other hand, is used to buy doodads that depreciate in value. Here are 5 ways BAD DEBT limits your life https://www.youtube.com/embed/HEmiBf-7-eM?rel=0;autoplay=1

Lets say youve got a big expense coming up and need to save $1,000 in the next 30 days.While this may sound like an impossible goal, its not. All you have to do is put your mind to it, start immediately and adopt some of these proven money-saving tips. Here are 6 ways to help you save $1,000 in one month https://www.youtube.com/embed/pVlg09I--XQ?rel=0;autoplay=1

OK, today were going shatter a few MONEY MYTHS. Ever since we were children, weve heard and repeated familiar sayings about money. One favorite of parents everywhere is, Money doesnt grow on trees. But what if it turned out that most of the conventional wisdom about money wasnt true, or at least wasnt helpful? For instance, while its literally true that money doesnt grow on trees, that saying can lead us to believe in scarcity rather than abundanceso scarcity is what we end up with! Here are 3 three other equally destructive money myths to avoid https://www.youtube.com/embed/-7_adQtuqls?rel=0;autoplay=1

Heres an easy way to think about your finances. Instead of trying to picture all sorts of complicated accounts and budget lines, just imagine you have 6 jars in front of you. By putting all your money into these jars each monthin the correct proportionsyoull easily achieve financial security. Here are the 6 jars of money management you need to know https://www.youtube.com/embed/p-8lvcPh7ek?rel=0;autoplay=1

Did you know that the average homeowner pays over $100,000 in unnecessary interest payments? Chances are, if you're like most homeowners, your mortgage payment is your single, biggest after-tax expense. And unfortunately, due to the way lenders charge interest, most of your payments go towards paying interest, not principle. That's why, in the rare case that someone actually does pay off their mortgage, they often end up paying 2-3 TIMES the value of their home -- with the effective interest (or total interest paid) amounting to more than their home is even worth! Sad, but true. Here's the solution... https://www.youtube.com/embed/lFDuIXQVESw?rel=0;autoplay=1

Have you ever wondered how your credit score is Calculated, or more importantly, how to improve it? If so, this video will be a real eye-opener for you. Check it out https://www.youtube.com/embed/EFyEfTyMxew?rel=0;autoplay=1