Trusted Tips and Resources

Trusted Tips & Resources

Pay Your Mortgage Down Faster With Advice From Trusted Saskatoon Mortgage Broker Tammy Wandzura

Purchasing your home is one of the biggest and most important decisions that you can make. Tammy Wandzura is a 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 Saskatoon 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. In her latest Saskatoon Mortgage tip she shares how you can pay your mortgage down faster! 

Tammy Wandzura Explains How You Can Pay Your Mortgage Down Faster 

You found a house. You made an offer, and you got approved for your mortgage.

You locked down a phenomenal mortgage rate and chose a lender with flexible repayment options.

Don't Stop There 

In this article, I share how there are LITTLE ways you can make a BIG impact on your mortgage’s overall balance and life (amortization).

If you chose a variable rate mortgage:

  • Assuming you got a fantastic discount, your rate was (and likely still is) significantly lower than a fixed-rate mortgage.
  • I STRONGLY suggest you use this opportunity as a strategy and increase your payments as soon as possible to what they would be equal to a fixed-rate mortgage payment
    • That will mitigate some risk with fluctuating Bank of Canada Prime lending rate changes and avoid seeing a payment shock if rates move up a touch.
    • Increasing your payment slightly will mitigate some long term risk in the variable vs fixed conversation.
    • Assuming the Prime lending rate stays low, you will be saving significant interest in the first years of the mortgage, mitigating the risk of increases on the back end of the mortgage term.
    • This strategy allows you to see the biggest ‘bang for your buck’ while rates are low.
      • More money every month is going to your principal (vs interest) because rates are already so low
      • Every penny in addition to your regular payment goes directly to your principal balance and pays down the mortgage significantly faster.

Payment Frequency Options:

There are multiple options on how you can make your payment

The TWO options that will save you the most money in interest will be ACCELERATED Biweekly and ACCELERATED Weekly

(the accelerated is the crucial part)

An accelerated bi-weekly mortgage payment is when your monthly mortgage payment is divided by two, and the amount is withdrawn from your bank account every two weeks

(vs a Semi-Monthly payment:  your monthly mortgage payment is divided by two and the amount is withdrawn on the 1st and 15th (twice per month) VS every 2 weeks.

Let’s look at an example:

  • The example below uses an example 5-year insured variable rate discount as of June 22/2021
  • The example below is assuming the Bank of Canada Prime lending rate does not adjust through the entire 5-year term
  • Bank of Canada Prime lending rate is subject to change (up or down)
  • Lender discounts (variable and fixed) are subject to change
  • The information below is for example and illustration purposes only

In June of 2021 you took a 5-year variable rate mortgage at Prime (2.45%) Less 1.10 =1.35%

  • Purchase $400,000
  • Downpayment (5%) $20,000
  • A total mortgage with CMHC premium =$395,200.00
  • Amortization=25 years

OPTION (1)

MONTHLY required payment (assuming Prime stays at 2.45%)=$1552.15/month 

Balance at maturity making MONTHLY payments=$326,422.03

OPTION (2)

ACCELERATED BIWEEKLY required payment (assuming Prime stays at 2.45%)=$776.08/every 2 weeks (=approx $1681.50/m when we average it over the year)

Balance at maturity making ACCELERATED BIWEEKLY payments=$318,366.65

(that is a difference of $8055.38 owed in 5 years)

Taking it one step further: 

OPTION (3)

Increase that minimum required payment (calculated on the low variable rate discount) to a payment equal to a fixed rate (we are using 2.09% in this example)

ACCELERATED BIWEEKLY =$845.35

Balance at maturity =$309,963.24

(that is a difference of $16,458.79 owed in 5 years) 

Prepayment Options:

Every lender has flexible prepayment options (allowing you to make extra payments on the mortgage through the year without penalty)

This can be done by increasing regular payments (usually a 10-20% increase per year option depending on the lender) OR by doing lump sum extra payments through the year.

Each lender has a different policy relating to this- but the flexibility is there, and we are here to help you navigate those options.

By considering OPTION (3) above – you are using your prepayment options to manipulate your payment and lower the amortization (life) and interest paid on the mortgage.

My suggestion: 

  • Have us run some example amortization schedules for you so that you can see the different options and balances owed at maturity depending on your affordability
  • Move-in, get your feet wet with the new bills for the first 3-6 months.
  • Then do a review on if you can afford to do even a touch more than your required payment
  • Every little bit counts!
  • Need some help calculating your best options?  
  • We are happy to do complete reviews for our clients whenever you require some extra info! That is what we are here for ☺



Call Tammy Wandzura today Saskatoon mortgage needs OR visit www.elitemortgagechoice.com

Tammy Wandzura is a Trusted Saskatoon Mortgage broker


Trusted Saskatoon Mortgage Broker Tammy Wandzura Shares Tips On Working From Home

Purchasing your home is one of the biggest and most important decisions that you can make. Tammy Wandzura is a 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 Saskatoon 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. In her latest Mortgage tip she shares tips on working from home! 

Many of us through COVID have been plunged into a ‘work from home’ scenario.

What does that (really) look like to you?

  • How have you been managing?
  • Do you have a dedicated workspace?
  • Do you have kids at home?
  • Have you been able to catch up with the technology you need to be connected to? (Zoom, double screens, fast enough internet etc)
  • Are you working more efficiently? (or as efficient as you expected?)
  • Are you working too much?
  • Will this be your ‘new normal’ moving forward post COVID?
  • Do you like it?? Love it?? Hate it??




Everyone’s situations are vastly different and the experience will look much different to every person and household.


I want to reach out to the super social, work-a-holic type folks out there!

How are you managing? 


Working from home can be a real challenge for these types of people.  Take it from me!

I personally started working from home 2 1/2 years ago; after 15+ years of working from a brick and mortar office.

I have been working “remotely” with out of Province clients or clients that preferred a SIMPLIFIED process and service level for MANY years…so the transition from a workflow perspective was very simple.

Rewind to my feelings of working from home a couple of years back?

PURE Joy and Excitement

  • The extra time to prioritize me (health and wellness)
  • The extra time to keep the house up
  • The extra time….
  • No outside distractions
  • No need to ‘get ready’ every single day…could I really work in my pj’s all day if I wanted to!@!?!?

The REALITY of working from home is a touch different. (which I am sure many of you are experiencing?)


I still ♥♥♥ it! And would NOT change it for the world! BUT it does not come without its own challenges AND I have learned many lessons over the last couple of years.


First of all… working from home has not made my life any less busy.

I am a bonfide 100% self-proclaimed work-a-holic.

That can be good…and that can be bad ☺

When I worked from an office- my days were long but I had the option of “shutting it down for the day” most days.

I LOVE my job, I LOVE my clients, I LOVE my industry and I LOVE what I do. So “shutting it down” is not always in the cards when the office is only 5 steps down the stairs.

I honestly have NO PROBLEM at all rolling downstairs- to my office with a hot cup of coffee at 6 am or 7 am and will work all through the day until well after supper time without a thought.

Many folks I talk to – wonder how I get any work done all day working from home…? 

They have communicated they would be watching TV, doing laundry, sitting on the patio….

Warning: if you are a work-a-holic and you love what you do….working from anywhere is not a problem!

To be honest, it’s turned me into a bit of a procrastinator. My personal life stuff tends to get put on the back burner more than it used to.

When I was working outside of the home- I was pit stopping throughout the day or on my way home (groceries, dry cleaning, shopping etc) & house stuff (cleaning, yard work etc) was getting done at record speeds…because there was only so much time in the day…and stuff still had to get done.

NOW: leaving the house needs to be a real plan. Cleaning…well…I am a clean freak, so yes my house is generally clean- but it often gets done “tomorrow” or the day after that.

What I learned really quickly….?


  • If there is a day or week that is not crazy busy. TAKE IT!
When you work from home – (for me at least, as a self-employed person) if work is not my normal ‘crazy busy’ ….I feel guilty and feel like I should be trying to create projects to get the phone ringing.   When I worked from the downtown office, I would take that odd opportunity to grab my cell phone (any incoming calls), close up the office for the day and go out to LIVE LIFE. 

So the advice: keep building that business but take some time once in a bit to absorb this one life we have!

Make it a priority to plan a coffee or lunch date (post-COVID) out of the home office with friends or colleagues a couple of times per week.


 Suit up!

Not really…but GET UP early, Make your bed, SHOWER and look pretty.

There is nothing worse than working in your PJ’s for 5 days in a row with ‘bed head’ and then wondering why life feels so un-motivating.

I am still struggling with this….(as I sit here in my PJ’s) but I can tell you- without a shadow of a doubt I feel like a million bucks when I get ready and throw a ‘real outfit’ on!

I can work from A N Y W H E R E !

We lead a busy life.  I had to create a process that allowed me to keep you with it!

We actually thrive from being ‘over the top busy’. It’s how we do our best work.

My business is consistently hopping all through the year, my husband is a grain farmer (so Spring through to mid-November is even busier) and we love spending time in sunny Costa Rica where we are fortunate to have a modest condo and have the opportunity to spend a few weeks- a couple of months per year

Having my business set up remotely has allowed me to be 100% available – working ‘full time’ all while LIVING life.

I have the same office set up at home, at the farm and in Costa Rica. I grab my laptop, my office phone (Voice over the internet) and off I go. Ready to ‘plug and play’!


The single biggest challenge

  • Create a self wellness routine now!
This may be the hardest thing and something I still struggle with every single day. (Its EASY to put work and everything else before YOU)

I work from home. I have zero excuses and I absolutely always have 30-60 minutes a few times per week to take care of myself.

Simple goals I talk to myself about every night before bed:

  • A daily walk
  • Fresh, clean and healthy snacks and meals available
  • Take your vitamins!
  • Do a work out!
Sounds easy right?  Well, it doesn’t seem to be as easy as it sounds! ☺

(OH! and DRINK WATER!)

At the end of the day, every person's priorities are different.

There used to be an opinion about folks that worked from home.
  • We didn’t work as hard
  • Our systems were not as secure or efficient
  • We were not always available (because we are tending to home duties)
  • We didn’t really ‘want to’ work full time anymore…
This is NOT the case at all. As you can see from my experience above I have been busier and working harder than ever.

Efficient?  I think “work from hom’ers” are CRAZY efficient.  Setting systems up to WOW clients and creating solid SIMPLIFIED workflows for the office and the client experience.

I think the COVID crisis has created some harsh realities and truths for many of us to sit up and take notice of.

Life can change in a blink.

Working remotely is a “thing”. It's a thing that can work very well- BUT with everything, there is a learning curve. (likely both from a technology standpoint and personal)


I am and will continue to be your Mortgage Broker. 

I will never stop LOVING this industry, the people I get to meet, work with, assist and create friendships with.

I will always answer your calls and emails in a super speedy manner- providing top-notch service and SIMPLIFIED, MORTGAGE solutions.

If we have had the opportunity to work together- you know our office response time is well beyond what most anticipate.

I am forever grateful for the opportunity to work from home (or anywhere) and will continue to create personal goals to fine-tune my own personal experience and process to LIVE MY BEST LIFE.

If you are working from home and have some tips for ME, my followers and anyone that has engaged in this article PLEASE pass along!

Working from home is a fairly new concept for most and any TIPS would always be greatly appreciated!

Call Tammy Wandzura today Saskatoon mortgage needs OR visit www.elitemortgagechoice.com

Tammy Wandzura is a Trusted Saskatoon Mortgage broker


Trusted Saskatoon Mortgage Broker Tammy Wandzura Shares Why Customer Service Matters!

Purchasing your home is one of the biggest and most important decisions that you can make. Tammy Wandzura is a 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 Saskatoon 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. In her latest Mortgage tip she shares why experience and service matters

Experience Matters In The Mortgage Industry 

The Customer service experience is the highest priority for us. That is why we treat each “transaction” like our very own mortgage approval. This means that you, the customer, get great service, great communication, great follow-up, speedy approvals and the best rates! 

We believe that every experience is more than just the “mortgage”. It’s about making connections with YOU, by having amazing communication and really CARING about all your needs! Providing you with excellent customer service is fundamental to us being a quality mortgage broker, by preparing you for the application process and answering any questions that you may have during the process to ensure that the process is as smooth and stress-free as possible. 

We have all sadly lowered our customer service expectations. We expect to wander around the department store looking for anyone that may be able to answer our question, we expect to call our Dr’s office to have someone not happy about us calling on the other end of the phone, we expect to call our bank and have an appointment set 7-10 days later.

This means that nowadays you don’t expect OUTSTANDING. But you SHOULD! 

Thankfully, we do expect outstanding, and always ensure that we deliver on that promise. We understand that the Customer Service Experience is WHY we have “lifelong” clients, and WHY our business is built on referrals from happy clients. This emphasizes that our focus throughout the whole mortgage process is on YOU! However, no matter which mortgage broker you choose, YOU should always be the priority. 

Your WHY is our WHY.

We will ALWAYS build relationships and trust with our clients because we think that your expectations should be EXCEEDED! By making sure that your expectations are met we all end up winners, and that is how we will always operate at Tammy Wandzura! Make sure that you never expect anything less. 


Call Tammy Wandzura today Saskatoon mortgage needs OR visit www.elitemortgagechoice.com

Tammy Wandzura is a Trusted Saskatoon Mortgage broker


Trusted Saskatoon Mortgage Broker Tammy Wandzura On Navigating a Med, Vet or Dentistry Mortgage

Purchasing your home is one of the biggest and most important decisions that you can make. Tammy Wandzura a 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 Wandzura is a Trusted Saskatoon Mortgage Broker. In her latest tip written by Brydon Wandzura specialist mortgages information is shared! 

Considering a Med, Vet or Dentistry Mortgage?

Did you know that new mortgage programs may allow you to qualify for a mortgage while you are still in school based on your projected income? As a recent graduate from the University of Saskatchewan, I have been through the trials and tribulations that come with Post Secondary Education.

Questions You Could Ask Yourself As A Student:


  1. Where am I going to find a job when I am done?
  2. How do I apply for these student loan credits?
  3. How do I do my income tax?
  4. And …. mortgage…what are the first steps and do I qualify?

If only they taught us these things in University!

Look no further, I know a thing or two about mortgages, here’s hows they work for Medical, Veterinary and Dentistry students.

Medical Students Mortgages: 


This program applies to Med students who have recently completed or who are in their third year of residency or fellowship. The program allows eligible members to qualify for a mortgage using ‘future projected incomes.’ The projected incomes are discipline-specific, i.e. a student in Anesthesiology has a different future projected income than someone in Cardiology and so on.

Veterinary & Dentistry Mortgages: 


Like Medical students, Vet and Dentistry students who are in their final year of residency, fellowship, or program of study can also qualify for a mortgage using their respective projected incomes.

Great! How does that affect you?

Simply put, being able to use this future projected income lets you qualify for a mortgage as if you are already making that amount of money. It lets you get a head start on the home buying process and allows you to start building equity instead of just paying rent again, and again and again.

Still, have questions? Contact Tammy Wandzura today for all of your Saskatoon mortgage needs by visiting her listing here  - Tammy Wandzura is Trusted SASKATOON MORTGAGE BROKER! 




Trusted Saskatoon Mortgage Broker Tammy Wandzura Warning About Buying A New Car Before a Home

Purchasing your home is one of the biggest and most important decisions that you can make. Tammy Wandzura a 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. In her latest mortgage article, Trusted Saskatoon Mortgage Broker, Tammy Wandzura discusses why you should hold off on buying that new car if you are looking to buy a home.


1st Time HomeBuyer- Hold Off Buying The New Car!




















Thinking of starting the house hunting process?? Did you know that a vehicle payment can significantly affect your ability to qualify for a mortgage? Buy The House and THEN The Car " Tammy Wandzura
Federal mortgage guidelines require that your income can handle all of your debts (that you currently have) PLUS the new mortgage payment, property taxes and heat payment.  The NEW mortgage rules are more strict and rigid than ever - and require you to be very conscious of what your debt load looks like. 

 

An Example! 

If you have a car payment of $500/month - that is $500 a month less that can go towards your mortgage payment and expenses. If you have a BIWEEKLY car payment (a biweekly payment comes out of your account every 2 weeks) you make a payment 26 times in a year. If your car payment is $200 biweekly - that does not mean you are paying $400/month... it means you are paying $433.33/month. This is the number the mortgage company will use when calculating your debt. 

The Math: 

1. If you have a car payment of $433/month AND assuming you have good to great credit

  • Income is $50,000/year
  • Max Purchase Price $180,000
  • 5% down = $9,000.00

2. IF you do NOT have a car payment (same good credit, same income)

  • Max Purchase Price $225,000
  • 5% down = $11,250.00

That is a $45,000 difference in borrowing power and may allow you to purchase the type of home in the neighbourhood you are hoping to live in! After you have taken possession of your home - you can easily qualify for a Car Loan with a number of banks or dealerships. Qualifying for a home (mortgage) is a very different process with much stricter rules.

Keep In Mind:

Even with strong income, depending on the area you wish to buy a home - a vehicle payment can seriously and negatively affect your ability to qualify for the house you want to buy.


Buy the house and THEN the car!! Spread the word and tell your friends. Many FIRST TIME HOME BUYERS do NOT know this! 

You're paid off "middle of the road" vehicle is not looking so bad now, is it??


Call Tammy Wandzura today at 933.3386 for all of your Saskatoon mortgage needs OR visit www.elitemortgagechoice.com she is a Trusted SASKATOON MORTGAGE BROKER! 





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