New Announcement from Penny Wrightly
  
For over 20 years, I have helped clients, just like you, realize the dream of home ownership and wealth building through real estate.
During this time, I have invested considerably, to make sure that my clients have the best advice and service to meet their needs and help bring even more prosperity their way.
This is why I am excited to share that I have aligned with an initiative that complements building your wealth in real estate and beyond.
This initiative is all about you!
It is about your passion, your goals, your business, your dreams, and about what you want to accomplish in life. It’s about building your entire life portfolio, including your real estate….. and then actually achieving it.
Like our client Sherry, who quadrupled her income. Then she went on to flip her first property making over $200,000 in only 60 days! We helped her build her dream team of investors, contractors, legal team and more to make it all happen! She is now onto the next property…..
Or, like our client Chantal who left her 9-5 job to start her own thriving business with a whole team of staff and now works only 10 hours a week, completely replacing her former salary and spending more time with her son and enjoying her new condo.
What’s your dream?
How do you want to live your life?
If the idea of building wealth, working less, spending more time with loved ones sounds interesting to you, then we should talk.
Let’s have a chat about how we can add more $000’s to your life.
Book a chat here
Your broker and wealth advisor for life,
Looking for a Deal on a Condo? Look No Further.
Hi Friends!
Our office has been let in on a special promotion for a new condo development in Kitchener-Waterloo Region! Duo at Station Park is one of the most exciting projects to hit the region to date.
Our friends and clients get Platinum Incentives Before the Public Launch November 3rd.
If you’ve considered buying an investment or a pre-constructed condo, this is the one!
Incentives include:
The most extended deposit structure ever seen Platinum Client special pricing (huge exclusive discounts!!)Capped Development Fees& Much more
Estimated Occupancy: Jan 2026Additional Info:
Kitchener Transit Hub around the Corner:
https://www.regionofwaterloo.ca/en/exploring-the-region/transit-hub.aspx
Google is located across the street.
This is Phase 3 of 5.
The 5th Phase will have 5 storeys of Commercial Space and it is said that Google is likely interested in this space.
Please contact me for floor plans, pricing, discounts, and all additional details and to arrange your personal viewing with the exclusive agents accessing this promotion.
Penny Wrightly
Trigger rates and trigger points
“trigger rates” and “trigger points”….something you will be hearing of with more changes in the Bank of Canada rate.
Let’s start with a few definitions:
Variable Rate Mortgage (VRM) – prime changes, rate changes. When interest rates change, typically, your mortgage payment will stay the same.
Adjustable Rate Mortgage (ARM) – prime changes, rate changes. Unlike variable rate, your mortgage payment will change when interest rates change.
Trigger Rate – When interest rates increase to the point that regular principal and interest payments no longer cover the interest charged, interest is deferred, and the principal balance (total cost) can increase until it hits the trigger point.
Trigger Point – When the outstanding principal amount (including any deferred interest) exceeds the original principal amount. The lender will notify the customer and inform them of how much the principal amount exceeds the excess amount (Trigger Point). The client then typically has 30 days to make a lumpsum payment; increase the amount of the principal and interest payment; or convert to a fixed rate term.
NOW, WHICH MORTGAGES WILL BE AFFECTED FIRST?
Quick answer, VRMs from March 2020 to March 2022. (TD, HSBC and a couple others)
During the month of March 2020, the prime rate dropped three times in quick succession from 3.95% to 2.45%, and variable-rate mortgages arranged while prime was 2.45% have the lowest payments. The lower the interest rate was, the lower the trigger rate, and the faster your client may hit this negative amortization.
WHAT TO DO
When this happens, customers are contacted by the lender and generally have three ways they can proceed:
Make a lump-sum payment against the loan amount
Convert with a new loan at a fixed-rate term
Increase their monthly payment amount to pay off their outstanding principal balance within their remaining original amortization period
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