Trusted Tips and Resources

Trusted Tips & Resources

Trusted Saskatoon Mortgage Broker Tammy Wandzura Explains Why Referrals are So Important

Purchasing your home is one of the biggest and most important decisions that you can make. Tammy Wandzura your Trusted Saskatoon Mortgage broker and the team at Elite Mortgage Choice  believe that buying a home should also be an exciting experience with little to NO stress. By trusting your Mortgage Broker, you are ensuring that any stress you may have had in previous encounters can be eliminated! Tammy truly believes that all you should have to worry about is opening the door to your new home for the very first time.

Tammy Wandzura Trusted Saskatoon Mortgage Broker Explains WHY Referrals Mean So Much!



"I would like to extend a HUGE shout out and THANK YOU to each and every current client, previous client, friend and family member that has ever referred to my services. I have been in the Mortgage and lending industry since 2002 and I have been so fortunate to assist so many people in making their dreams come true!"

Home Ownership is an Amazing Achievement and a HUGE Commitment


"I have had the opportunity to help thousands of first time home buyers make the BEST decisions and continue to assist with renewals and refinances."

Why are Referrals So Important?


"People love referrals. They love knowing that by making that first call they will be taken care of from beginning to end. With all of the new Mortgage rulesthe average person needs to feel comfortable and know they are dealing with an expert. We work diligently to create a true customer service experience with every single client we work with. We are not just about the lowest rate. Much like your Insurance Advisor or Financial Advisor;  I am your Mortgage Advisor. My job is not complete when the “transaction” is complete. I am here to continue reviewing your details regularly to ensure that I am helping you meet your future financial goals. In today’s day and age – good customer service can be hard to come by. Amazing and great customer service is far and few between. We want each client to feel that we have taken care of all of their mortgage needs today and in the future."

You can continue to give online reviews here, they are greatly appreciated!  

Call Tammy Wandzura today at 306 933.3386 for all of your Saskatoon mortgage needs OR visit www.elitemortgagechoice.com

Make an appointment with Tammy Wandzura at TMG, #1-511 1st Ave N or check out her listing on the Saskatoon directory of excellent in the SASKATOON MORTGAGES Category..she is a Trusted Saskatoon Mortgage Broker Expert! 



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! 




Trusted Saskatoon team brags about Trusted Saskatoon Mortgage Broker Kristi Knippel

The Trusted Saskatoon directory team are thrilled to welcome Kristi Knippel to the Trusted Saskatoon community. You will find her Kristi's listing in the Saskatoon Mortgage Brokers category on the Saskatoon directory of excellence. 

What qualifies Kristi Knippel to be a Trusted Saskatoon mortgage expert? 

When you meet Kristi Knippel for the first time you will feel the warmth she radiates! 
Her client's mortgage needs are of utmost importance to her, but you know that it is more than just a business transaction, she is a mortgage professional and she offers expert advice, but beyond that, she truly cares about her clients! 

This attitude is what has driven the success of Kristi's business and the majority of her business comes from the 3 R's - Referrals, Recommendations and Repeat business! 

Kristi came highly recommended and she was nominated by Trusted Saskatoon real estate agent Kari Calder.  Kari Calder is one of Saskatoons top REALTORS ® and she only works with partners who can deliver excellence consistently! She told us Kristi would be a perfect fit for the Trusted Saskatoon Mortgage Category and after speaking with more of Kristi's clients as part of our unique Trusted verification process, we cant argue with her! 

Don't take our word for it, read what her happy clients had to say! 

"Counselled us this last year on our mortgage options. Kristi provided us outstanding service, made us feel cared for and went out of her way to stay in touch,"- Tonia (Saskatoon)

"Kristi offers honest advice and thinks of the customer first. She runs her business with integrity and ensures what she offers is the best advice for her clients, " - Kory Hniden (Saskatoon)

"Really felt like Kristi focussed on what was right for me and she was very helpful. She made this big life step very comfortable and I would definitely recommend her," - Sharon Bercheidt

Interesting Kristi Fact

Kristi loves gold pineapples, she has quite the collection!!  

"Friends, Family and clients all know I have a longtime love for pineapples. 🍍So why do I love the Pineapple so much? 🍍The Pineapple signifies hospitality. It has a long history as a symbol for expressing a sense of welcome, good cheer, & family affection. New England Sea Captains traditionally placed a pineapple outside of their homes as a symbol for a safe return. Let the pineapple be a reminder to embrace friendships, celebrate homecomings and encourage good times. It’s just the perfect symbol for my life and my business & has been for many years." ❤️🍍❤️🍍❤️🍍 Kristi Knippel


We are proud to promote and give the thumbs up to Kristi Knippel as a Trusted Saskatoon Mortgage Broker 
Mortgage Broker Lic. #316748
SK Brokerage No. 316566



Trusted Saskatoon Mortgage Broker Tammy Wandzura Gives Tips About Down Payments

Purchasing your home is one of the biggest and most important decisions that you can make. Tammy Wandzura your Trusted Saskatoon Mortgage broker and the team at Elite Mortgage Choice believe that buying a home should also be an exciting experience with little to NO stress. By trusting your Mortgage Broker, you are ensuring that any stress you may have had in previous encounters can be eliminated! 


Tammy truly believes that all you should have to worry about is opening the door to your new home for the very first time.


Tammy Wandzura Tips on How to Save for a Down Payment


Wanting to start preparing for HOMEOWNERSHIP? Wanting to PURCHASE your FIRST HOME? With the right advice – you are closer than you think!


4 Major Things to Consider:


#1: Well Established Credit



It is more important than ever to have your best Credit score possible going into the mortgage pre-approval process. Your mortgage rate and your pre-approval limit will be based on what your credit score is and how strong your past credit history is. There are some fairly basic rules for building a strong credit report from scratch (or after issues with your credit).

  • Every lender and insurer prefers to see that you have TWO pieces of well-paid and well-maintained credit for TWO full years. *on exception, we can consider one year *but* ideally a strong 2-year history will give you the most flexibility.
  • Ideally, it is best if you have TWO credit cards that have been reporting to the credit bureau for TWO years.
    • NOTE: The lender is looking to see if the credit has been WELL PAID and WELL MANAGED

What Does WELL PAID and WELL MANAGED Mean?

WELL PAID:

On credit cards or a Line of Credit if you hold ANY balance you are required to make a minimum payment every 30 days. There are no exceptions and double payments do not count.

WELL MAINTAINED:

Example: If you have a credit card with a limit of $5000 it is important that if you are holding a balance it is LESS than 50% of the limit (in this example $2500 or less). As soon as the balance starts creeping up to the limit (or over) it will drag your credit score down quickly. (This means that if you go to your favorite electronics store and make a big purchase on your credit card with intentions of paying it off within a short period of time…BUT the credit bureau company collects the information on your file in the meantime -and you are at your MAX- you could affect your ability to qualify for a mortgage.) DO NOT apply for too much credit.  Applying for credit regularly will damage your credit score and affect your ability to qualify for a mortgage. 

CHOOSE the credit cards you apply for carefully.  Some cards have hefty annual fees.  If you do not plan to use your card you may want to consider a NO FEE card OR you may want to research the best cards on the market for collecting points. (Many people use their card regularly to earn travel/cash back or reward points. This can be a very good way to earn “free” rewards but it is important you are savvy and pay off your balance every single month.)


#2: Down Payment

Minimum down payment to purchase an OWNER-OCCUPIED home in Canada is 5%. Example: Purchase Price $300,000.00 x 5% = $15,000.00 Down payment needed. You are also required to have money set aside for “closing costs” (legal fees). These costs vary from Province to Province and are based on the purchase price of the home. On an average, the cost is approximately $3000 or less. You may be asked by your lender to prove that you have more available as “back up”. Typically, acceptable proof of down payment would be proof of savings/investments/RRSPs OR a GIFT from a family member.

How to Save when you have month to month bills??

Every little bit helps and the lenders and insurers see strength in applicants that have worked to save all or a portion of their own down payment. Let’s call it having “skin in the game.” 


A FEW SIMPLE EXAMPLES:

Throughout her life she has always calculated each of her purchases (big or small) against Minimum Wage. That is what she started making when she hit the workforce and many people still do. When she is considering a coffee – She decides if she wants to make a cup at home and take it with her (.33c) or stop at Tim Horton’s ($2.75) OR …Starbucks… ($5++) AT $5.00 that would be approximately (give or take) a HALF HOUR of work!  NOW- is that worth it (every day) Skip the Starbucks.

She has taught her kids this. When they were working part-time already they understood the “minimum wage” idea.  For example, they bring a can of bug spray to soccer ($10)- lend it out to a friend and proceed to “lose it”.  She gives them the example of ONE hour of work for that one can of bug spray…and somehow it magically appears next game. They made it a priority to find it because that one hour of work for a can of bug spray seemed outrageous (and) it is!!

Build the minimum wage mentality into your budget. 

If you are earning Minimum wage think closely on how long it would take you to earn the money you plan to spend.  If you earn more (or significantly more) it is still an amazing measuring stick to put yourself in check on day to day purchases. When she is buying groceries– It has taken her years to figure this out.  Make a meal plan. Make the grocery list and then stick to it.  Better yet- check out the online grocery services that Superstore has.  You can go through ONLINE and price check your volumes vs price/brand etc. You are not tempted to throw things in your cart that you do not need. At the end when you check out if your bill is larger than you expected you can go back and remove things you may not need. Netflix vs Cable- She has Cable (her husband is a Sport’s guy) but they watch Netflix 99% of the time. Going 100% Netflix does not have to be a forever plan.  It can be a right now plan to help you save towards your future goals.  Remember every little bit helps. 

#3: Income

 

Income, of course, is a MAJOR component in any mortgage approval. Some income and employment situations are very “black and white”. Others are UNIQUE. Ideally, they are looking for full time, guaranteed salary hourly employeesEvery single family may have unique things we need to consider when looking at employment. Maybe MRS. is on MAT LEAVE. Maybe MR gets paid by the mile.  Maybe one of the applicants is a Nurse but has a “casual” job status vs a “permanent” status.

THE KEY: Remember the lender(s) are looking for consistency. 

In the examples, she gave above:

  • Many lenders will consider “back to work income” to be used for anyone on a maternity or paternity leave.
  • Paid by the job or mile? Lenders need to see what your 2 year T4 average looks like to consider using any income.
  • Not a permanent employee BUT picking up full time (or more hours?) Still need that 2-year average to use your income.
  • Self-employed? The 2-year average of your Line 150 Taxable income to Revenue Canada.

Generally speaking, if you do not have a full time, permanent guaranteed hourly or salary position you have to fall back on averages. They are here to help you wade through the lender guidelines, review your income and help you prepare for mortgage approval. In some cases, they have some flexible solutions or suggestions with the situations we are reviewing.

Considering an employment change RIGHT before starting the house hunting process? Talk to her first. Your new employment opportunity MAY affect your ability to qualify for a mortgage. 


#4: Debt Load





There is not a topic that she is more passionate about talking about. DEBT LOAD is one of the biggest reasons most applicants are declined to qualify for a mortgage. One of the major pieces of the mortgage approval puzzle is your DEBT vs INCOME RATIOS.

The lender(s) and CMHC need to look at your current debt (car loans, credit card debt, student loan debt, boat loan debt etc.) + the new mortgage payment + the property taxes + a heat cost must be no higher than 40-44% of your overall Gross income. Most car payments will eat deeply into the average family’s monthly income. Did you know that if you have a Line of Credit that has (as an example) $15,000 owed on it- and your minimum payment is $100/month…they have to use $450/month (3% of the balance) to qualify your application???!???  (Government guideline every lender follows).  When you are running your own numbers and affordability- it may be drastically different than what the bank will accept. Work hard to keep your debt LOW. BUY the HOME and then the car.

STUDENTS: 

Work in the Summers- bring that student loan debt down as much as you can while you are a student so that it does not affect your ability to “start your life” when you choose to. She works with clients every day that have made decisions in the PAST that is seriously impacting their ability to proceed with FUTURE PLANS. Thinking of going to school?  Consider this example below and be very cautious on “what” you are charging to your student loans. They can follow you for a long time if you do not put a good plan together from the beginning.

Example:

A young couple goes into the bank – banker is rude. Tells the young couple to come back when they are “making money”. The banker does not show them the numbers or explain things in detail.

Clients contact my office.

  • I go through the full application
  • MRS works at McDonald’s and is currently on Maternity leave. (overall annual income is fairly low)
  • MR works in retail. (overall annual income is fairly low)
  • They have one baby and one on the way.
  • I run their credit….
  • To find they have $131,000.00 in UNSECURED debt. (credit cards, lines of credit, student loans) and over $2390/month in minimum payments.


Moral of the story; these clients do not qualify to purchase a home and likely will not for many years. The issues with their scenario are how deep in debt they are. $84,300 in Student loan debt alone.


Want to make a plan to become a homeowner?  That is what she is here for.  Contact Tammy Wandzura anytime and she can review your current details, your future plans and tailor a plan to ensure you are on the right track!









Call Tammy Wandzura today at 306 933.3386 for all of your Saskatoon mortgage needs OR visit www.elitemortgagechoice.com

Make an appointment with Tammy Wandzura at TMG, #1-511 1st Ave N or check out her listing on the SASKATOON DIRECTORY in the SASKATOON MORTGAGES Category. She is a Trusted SASKATOON MORTGAGE BROKER Expert!


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! 




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TrustedSaskatoon.com
129 21st St E #400
Saskatoon, SK   S7K 0B2
Ph: 306.244.4150

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