Dan Caird Mortgage Agent Newsletter - August 2015

Dan Caird - Mortgage Agent, Level 2

BRX Mortgage

dan@dancaird.com
(905) 213-1475
http://www.dancaird.com/
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Durham Region Investment Properties

 

125 Root Crescent - North-east Ajax
1965 Valley Farm - Pickering
2095 Duberry - Pickering
28 Resolute Crescent - Whitby
307 Malaga Rd. - South Oshawa
4700 Baldwin St - North Whitby
817 Taggart Crescent - North Oshawa

Durham Region is proven to be one of the best places to invest time and time again. Check out these fantastic listings from Realtor Andrew Shevtsov



Refinance Plus Improvements

 

Click Here For More Information

Do you wish you could pull some equity out of your house to do some home improvements? Are you at or near 80% loan-to-value and your current lender has told you there isn't enough equity in your home to refinance? There's a solution! Have you heard of the Refinance Plus Improvements program? It's a great underutilized mortgage product where the lender will actually give you a mortgage based on the "as-improved" value of your home.

Example: Your home is worth $400,000, and your mortgage is around $320,000 (or 80% loan-to-value). If you were to walk into your bank and tell them you want to refinance in order to pull out some equity for home improvements, they would tell you there isn't enough equity because you can't refinance above 80% loan-to-value.

Solution: Refinance your mortgage utilizing the Refinance Plus Improvements Program. In the above example, you could have access to an additional $40,000 in equity to do those home improvements. Why? Because the lender will base your mortgage on the "as-improved" value of your home, not the current value!

Yes, this works for purchases as well - it's called the Purchase Plus Improvements program. Imagine your bank or lender financing your home renovations on a property you just purchased. This can be a great option for investors who want to renovate a rental property in order to increase rent or attract better tenants. Click the attachment or contact me for more info.



5 Reasons Why Owners Should Stay Out of Real Estate Photos

 

Reasons Why Owners Should Stay Out Of MLS Photos

In case you needed another distraction on a Thursday, Click the link!

Rachel Oliver and I at her July real estate investors meetup

 

I want to thank Rachel Oliver from Clover Properties for inviting me to speak at her Thornhill Wealth Forum Real Estate Investors Meetup. It was a pleasure speaking alongside Joey Ragona and Dalia Barsoum to such a fantastic group of real estate investors.

I spoke about creative financing for real estate investors and how an underutilized mortgage product can be used by both experienced real estate investors and new real estate investors alike to help increase ROI on their investment properties.



CMHC to allow 100% of rental income from legal secondary suites!

 

CMHC has announced it will allow 100% of the rental income from legal secondary suites to be used when qualifying for a mortgage. Currently it allows 50%. The new rule takes effect September 28, 2015. This can have a significantly positive impact on those applying for a mortgage for a property with a legal basement apartment. Check out the link below and contact me for more info and to discuss how this can affect you personally.

http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2015/07/cmhc-to-allow-100-of-suite-income.html



Grouplend Loans!

 

Grouplend Flyer

I have had a number of people contact me over the last month to inquire about my article in July's newsletter about the Grouplend loan product so I thought I'd post this again. As I mentioned previously, completing the 2 minute application will NOT affect your credit. Why? Because it does a "soft pull" of your credit instead of a "hard pull". This 2 minute application will tell you if you qualify and what your rate will be. Then, if you want to proceed, they will ask for some documentation to prove your income and identification and the money can be in your account as fast as the next business day! See if you qualify today at glnd.ca/dancaird

Real estate investors can combine this loan product with the Purchase Plus Improvements program and the Refinance Plus Improvements program to greatly improve their ROI on a property. Ask me how!
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Brokerage Lic #13463
My address is:
Dan Caird
BRX Mortgage
710 Sutherland Avenue
Kelowna, V1Y 5X5
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