Trusted Tips and Resources

Trusted Tips & Resources

YourMortgageNow Mortgage Experts Speak Up About Mortgage Renewals

Buying a home is one of the most important and exciting steps in your life.... now that pesky financing! Deal with people who can offer you and your family the best options for you with Your Mortgage Now! Devin Cristo and Wes Will are your Saskatoon Mortgage Experts and they have years of experience helping individuals and families finance their dreams by offering mortgages from a variety of lenders for people from all walks of life.

They are your Trusted Saskatoon Mortgage Experts!


Do You Have a Mortgage Renewal Coming Up?




When it comes time to mortgage renewals, the smartest thing that you can do is get help from a Trusted Saskatoon Mortgage Broker who has access to over 20 lenders that want your business! The experienced  Saskatoon mortgage team at YourMortgageNow can also guarantee you a rate for 120 days in advance of your renewal date. Think about the thousands of dollars that this will save you in interest costs alone! There can be fees associated with transferring your mortgage to get a better interest rate, but sometimes the new lender will cover the costs just to obtain your business!


Do you think it's smarter to renew your mortgage with a bank?


The YourMortgageNow team urges you to read our articles on the Bank Vs Mortgage Broker debate, then ask yourself the following:

 

•    Why won’t my bank provide me with a 120 day, low rate guarantee?

•    Why isn’t my bank giving me the best deal possible?

•    Why is my bank sending me a renewal notice and not sitting down to talk to me

 

It just makes sense to have someone shop around for your best interest rate, you can TRUST them to do it for you, and you have nothing to lose!






APPLY ONLINE NOW or contact them today, it won’t cost you a penny!

 

If you have any questions regarding this topic, please give them a call today at (306) 244-7755 or email them at devinandwes@yourmortgagenow.ca

 

Find them on Facebook here! 




Mortgage Experts at YourMortgageNow Give Advice for First Time Home Buyers

Buying a home is one of the most important and exciting steps in your life.... now that pesky financing! Deal with people who can offer you and your family the best options for you with Your Mortgage Now! Devin Cristo and Wes Will are your Saskatoon Mortgage Experts and they have years of experience helping individuals and families finance their dreams by offering mortgages from a variety of lenders for people from all walks of life.

They are your Trusted Saskatoon Mortgage Experts!

Tips for First Time Home Buyers





At YourMortgageNow.ca, the Team is always ready to answer any questions you may have about buying your first home in Saskatoon and area. But for some people, saving to buy their first home may seem daunting and they don’t quite know where to start. After all, Your Mortgage Now are Trusted Saskatoon Mortgage Brokers.Here are some great money-saving tips to get you started:


1.          Set a long-term goal: “I want to buy a home by the age of 30” or “I want to buy a home within five years of graduation from college”.

 

2.          Determine how much you can afford: Be realistic about where you want to live and what type of home you will likely be able to afford. Consulting a financial advisor or mortgage professional early on will put you on the right path to fulfilling your goal.

 

 

3.          Create a budget: Keep track of all the money that comes in and all the money that goes out. Balancing expenses against income will help you determine what, if any, adjustments you need to make to your spending habits in order to build savings.

 

4.          Pay yourself first: Open a separate savings account and deposit a set amount of money every month through an automatic withdrawal from your paycheque or other bank account.

 

 

5.          Live on cash: Every payday gives yourself an allowance in cash to get you through to the next payday. If you don’t have cash handy you might think twice before buying something you don’t really need.

 

6.          Build your savings account: Live off your day-to-day earnings and make the most of every unexpected inflow of cash. If you work overtime or receive a bonus, put that money right into your savings account.

 

 

7.          Party at home: Going out for dinner, clubbing or a movie can really add up on your monthly expenses and kill your budget. Host movie nights or potluck dinners at home and see your savings grow.

 

8.          Earn extra income: Sell unused items online through sites such as eBay, Craigslist or Kijiji; take on a second job; work part-time and summers if you’re a student.


9.    Open an RRSP account early on: The Federal Government’s Home Buyer’s Plan allows you to withdraw up to $20,000 from a Registered Retirement Savings Plans (RRSP) for a down payment on a first home. Consult with a financial advisor or mortgage professional to grow your investments wisely.


10.  Do your homework: Before making any big investment or purchase, do some research. Avoid spending on impulse or emotion. If it sounds too good to be true, chances are it is.




APPLY ONLINE NOW or contact them today, it won’t cost you a penny!





If you have any questions regarding this topic, please give them a call today at (306) 244-7755 or email them at devinandwes@yourmortgagenow.ca

 

Find them on Facebook here! 




Trusted Saskatoon Mortgage Experts Give Advice About Purchasing With Rental Income in Mind

Buying a home is one of the most important and exciting steps in your life.... now that pesky financing! Deal with people who can offer you and your family the best options for you with Your Mortgage Now! Devin Cristo and Wes Will are your Saskatoon Mortgage Experts and they have years of experience helping individuals and families finance their dreams by offering mortgages from a variety of lenders for people from all walks of life.

They are your Trusted Saskatoon Mortgage Experts!


Investment Property Purchasing With Rental Income in Mind

SHOPPING FOR AN INVESTMENT PROPERTY?

Purchasing With Rental Income in Mind

investment property

The purchase of your first home is a large investment and one that involves a significant financial commitment. Homes with legal suites are a great option for the first-time homebuyer seeking a home to both live in and build equity from, plus gain some revenue from a basement suite renter.

First-time homebuyers can request their real estate agent to do a search for properties that possess a ready-built suite or have the potential in which to build one. A property that already has a separate entry and two separate kitchens, or water hook-ups in an area where appliances could be installed, would be optimal. Kitchens are one of the more expensive rooms of a house to finish oneself.

Alternatively, first-time home buyers may seek out newer homes with unfinished basements at a lesser home cost, and attain a mortgage that allows cash for improvements, a home renovation loan or line of credit secured on the home to finish the basement into a suite. Simply request to seek properties with walk-out basements or homes wherein a separate entrance could be developed easily.

Income from a basement apartment can help first-time buyers carry the costs of their home. But it’s not as simple as placing an online ad; homeowners must take due diligence to ensure their basement apartment is legal and that their tenants are trustworthy.

The legalities of basement apartments

If the apartment doesn’t comply with local zoning bylaws and fire codes, the apartment isn’t legal.

You need to check with the City of Saskatoon to see if your basement apartment is registered as a second unit. If it is, then it is legal and compliant with the fire code. If it’s not registered, then you have to conduct further research. A city’s zoning bylaw will tell you if your area permits a basement apartment.

If you want to apply for a new unit, you will need a building permit that satisfies the provisions of the fire code in your province.

When looking at a property, if the basement apartment is being advertised as a “nanny suite” or “in-law apartment,” be wary — this unit is most likely illegal. If a neighbour complains about your unit to the city and an inspection occurs, you will be required to pay to upgrade your unit to proper standards.

You must advise your insurance company if you intend to rent out your basement apartment. By not disclosing this information, it may refuse to pay a claim if, for example, a fire occurs later.

Finding a good tenant

Besides advertising in a local newspaper, consider posting a listing on Kijii.ca or Craigslist.ca.

You must be very careful when interviewing any potential tenant that you do not inadvertently violate any sections of the Human Rights Code by asking any inappropriate questions.

You are permitted to ask prospective tenants on a rental application if they smoke, whether they have pets and how many people will be living with them in the apartment. You can also ask for references and their rental history. You cannot ask about their ethnic background, religious or sexual preference, or marital status.

It’s important to conduct the proper research in advance before renting your basement to a residential tenant. Be sure to ask for a current pay stub from where they work and call previous landlords for references.

Basement apartments, if created and rented out properly, can give you peace of mind and additional income to assist you in carrying the costs of your home and increasing its long-term value.

Apply for a mortgage pre-approval and make use of the free and easy online mortgage calculator to formulate your budget and know what you truly can afford.

Devin Cristo Mortgage Broker Wes Will Mortgage Broker

Devin Cristo & Wes Will are Trusted Saskatoon Mortgage Associates of YourMortgageNow.ca


Your Mortgage Now are Trusted Saskatoon Mortgage Brokers


Trusted Saskatoon Community Spreading Christmas cheer powered by FineLine Developments


The Trusted Saskatoon team believes giving back is always in style. We are proud members of the Saskatoon business community. We love our city and do what we can to support local events, non profits and to help individuals in need. This Christmas we want to help a local family in need!  If you know a family who could do with help this Christmas ..please read on and nominate them! 

THE FILLABLE NOMINATION FORM IS BELOW!! 


A HUGE Thank you to Sven and the big hearted team at Fineline Developments - they stepped up to donate $500 to the chosen family and are title sponsors of the 2016 Trusted Saskatoon Community Christmas giving back initiative! 


The Trusted Team are donating a $500 Trusted Saskatoon Gift Certificate - that can be used at any of the Trusted Saskatoon Partners featured and promoted on Saskatoon's Best Directory  


  • A big thank you also go's out to Jess and the team at Just For You Day Spa for donating a $100 spa certificate to the recipient family so Mum can have a much needed relax and pamper at a Trusted Saskatoon spa!
  • Thank you Rob and the Glenwood Auto Service team - for stepping up to be turkey sponsors! They are Trusted Saskatoon auto service, repair and tire pro’s!  
  • Devin Cristo-Mortgage Link and Wes Will will donate $100 gift card for groceries! Thank you! They are with Your Mortgage NowTrusted Saskatoon Mortgage Brokers! 





Trusted Mortgage Brokers Share Important Information for Next Generation of Home Owners

Buying a home is one of the most important and exciting steps in your life.... now figuring out financing! Deal with people who can offer you and your family the best options for you with Your Mortgage Now! Devin Cristo and Wes Will are your Saskatoon Mortgage Experts and they have years of experience helping individuals and families finance their dreams by offering mortgages from a variety of lenders for people from all walks of life.

They are your Trusted Saskatoon Mortgage Experts!


The Federal Government has made some major changes to the mortgage requirements effective October 17th, 2016. This drastically changes how much first time home buyers can qualify for and the qualification process they must go through. This change has been implemented due to the concern that household debt levels are too high in Canada. Now all mortgage clients qualify under a new “Stress Test” environment.


These new measures are to help cool off the hot housing markets in areas in Canada. Unfortunately first time home buyers will feel the most impact from this change. For example, if someone qualified for a $350k mortgage prior to the change, they now will qualify for a $280k mortgage. It will affect buyers overall purchase power by approx. 20-25%. This is going to continue to impact buyers over at least the next six months as buyers adjust their expectations about what home they are able to buy. After this adjustment period the market will pick up again just like in past years.

 

The other aspect is that buyers with a deposit of at least 5% but less than 20% must be backed by mortgage insurance. This protects the lender in the event the home buyer defaults on a high rated mortgage. This can get complicated as it affects lenders and can impact interest rates which are then passed down to the buyer. 

 

These changes will also make it a lot harder for first time home buyers to purchase a home. There has already been an increase in the amount of first time home buyers that require their parents to co-sign on their mortgage or need to provide support with a large down payment. 

 

It is so important for our children to be educated at a young age so that they are prepared for when it comes time to buy their first home. Otherwise we will see an increase in the age that children are still living at home, maybe even into their 30’s!! Make sure that you talk to Your Mortgage Now about the ways that you can help you or your children when the time comes to purchase  a home.

 

That is why Devin and Wes from Your Mortgage Now are informed and want to ensure as a buyer that you understand the way your mortgage approval will work with the new changes implemented by the Federal Government.



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Saskatoon, SK   S7K 0B2
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