May 2016 Newsletter - Edition #2

Jen -

Mortgage Edge

jennine@gmail.com

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Multi-Units - Hamilton, Niagara Region, Brantford

136 Page - St Catharines
15 Owen - Hamilton
180 Ontario _ ST Catharines
21 Hewitson - Stoney Creek
243 Ontario _ ST Catharines
255 Margaret-Stoney Creek
36 Nelson - Brantford
36 Webster-Brantford
38 Blenheim - Stoney Creek
4581 Victoria-NF
4694 SecondAve-NF
4835 River Road - NF
524 Upper James - Hamilton
5325 Van Alstyne-NF
55 WellingtonS - Hamilton
57 Glen - Hamilton
633 Barton - Hamilton
6 Turner - St Catharines
908 Colborne-Brantford

Aside from whether they should go "Fixed" or Variable" for their upcoming mortgage, I find that one of the most frequent lines of questioning I receive from current and prospective clients involves the potential purchase of an investment property.

"Are they a good long term investment?"

"What should I be looking for?"

"Where should I be looking?

These are complex questions that undoubtedly are going to look different for everyone, but time and again, I suggest some of the best returns you're likely to receive for your investment dollar can be seen through the purchase of a multi-residential unit in the Hamilton/Niagara Region. Given prices in the GTA, regardless of whether you're looking for monthly cashflow, long term appreciation or both, my take is that there is significant upside potential to be realized on through the purchase of a multi-unit residential income property in any of these regions.

Due to the additional level of due diligence required when purchasing almost any investment property, I can't stress enough the importance of working with a good Realtor. If you're interested in exploring this option further, send me a quick note and I'd be happy to connect you with one that will be able to assist you with navigating this complex, but very rewarding process.

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Our Reno Update

In spite of my incredible love for all things interior design, I have come to realize over the years that although I have a deep appreciation for living and working in a beautiful space, somewhere between the Pinterest pic and my family room, the design gets a tad lost in translation.

Enter Karin of Karin Bennett Designs! Aside from being an absolutely beautiful person inside and out, Karin is an incredibly talented local Interior Designer and Enterpreneur. You may have even seen her work, as it was recently featured on 2 episodes of HGTV's The Property Brother's! Having never taken on any sort of renovation project before, James and I sat down at the get go and decided that hiring an Interior Designer to assist with some of the decision making was probably best for our pocket book and our marriage ;) Needless to say, Karin did a spectacular job! In a few short hours she helped us with the picking of paint colours, flooring, furniture placement and

Hopefully I'll have "after" pics to share in time for my June Newsletter! Until then, don't forget to follow Karin on Twitter (@Karinbdesigns), on Instagram (KarinBennettDesigns) or check out her website (http://www.karinbennettdesigns.com) for contact details.

Thanks again Karin!

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Attn: Self Employed Individuals - What is Stated Income?

"Stated income" is an extremely important concept for any self-employed individual or small business owner considering getting a mortgage.

This post provides a definition for "stated income", explains how it affects your mortgage application, and what you need to know if you're a self-employed Canadian that is thinking about buying a home.

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What Do I Do When My Mortgage Is Up For Renewal?

Frequently I have clients call to tell me that their mortgage is up for renewal at their bank in the next 4-6 months. The bank is "allowing" them to renew early at a certain rate, but they want to know if they are getting a good "deal".

Here are a few things to think about when your mortgage is up for renewal:

- Do you have any credit cards or loans you would like to roll into your mortgage?

- Are there any reno projects on the horizon within the next 1-3 years?

- Do you have plans to move, or maybe buy an investment property in the next few years?

- How does your existing lender calculate mortgage penalties?

And probably most importantly, remember that you have time! Don't assume that you're receiving some type of a preferential rate because you're an existing customer. Ask questions, find out your options, and speak to a Mortgage Professional who will actually tell you if what you're being offered is competitive. Never think twice about giving me a shout; I'll tell you if the interest rates you're being offered are really decent, abysmal or somewhere in between. Sometimes it makes sense to look elsewhere, sometimes it doesn't - if it doesn't make sense, I will tell you. In my business it's far more important to lose the battle than it is to win the war. At the end of the day, I want happy, satisfied clients who will tell their friends and family about the job I did for them, so I strive to provide advice accordingly.

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What is "Loan to Value" Anyway?!

When dealing with mortgages, whether you're buying a home, or taking equity out of your existing one, loan-to-value is crucial. The article below explains what you need to know in simple terms.

As in many matters of finance, there are exceptions, special cases, and sometimes other nuances that can affect a particular situation, so if you have questions or simply want to explore your personal situation further, don't hesitate to send me a note, and we can plan a time to review your situation in greater detail.

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My address is: Jen Mortgage Edge Forbes Terrace Milton, L9T0S6 Canada	Powered By HippoContact