Trusted Tips and Resources

Trusted Tips & Resources

Trusted Saskatoon Mortgage Experts At Your Mortgage Now Explain Refinancing Your Mortgage with Home Equity

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. Your Mortgage Now are Trusted Saskatoon Mortgage Experts

How can you Refinance your Mortgage with Home Equity? 

re financing mortgage saskatoon

With spring just around the corner you might be thinking about renovating the house, sprucing up the backyard or even purchasing your first cottage. Refinancing your mortgage may allow you to find the money that you need for these aspirations.

The first thing that you have to consider is how much equity has built up in your home since you started paying down your mortgage. Your home equity – your home’s value minus the balance of your mortgage – is available for you to withdraw and invest in a number of ways, including home renovations, additional real estate, post secondary education and much more. Has the property value increased? Decreased? You can obtain a realistic figure by getting a market evaluation on your home. By multiplying your current market value by 80% this should give you an idea of how much you would be able to borrow for your new project.

The second thing is to look at different options when it comes to realizing your goals and every individual situation is different. Some choices that a person can look at are:

  • A new mortgage (the amount of your existing balance plus the amount that you would like to borrow);

  • A home equity line of credit;

  • A combination of a mortgage and line of credit.

The third step would be to sit down with Devin or Wes, your mortgage specialist and assess your different needs and that is why we are here to help you answer these important questions. So contact us today and we will help you come up with the best strategy for your lifestyle.

Do you have questions about refinancing your mortgage? Visit our website at www.www.yourmortgagenow.ca


Check out all they do, reviews and tips on their listing here: www.trustedsaskatoon.com/listing.aspx?lid=208

'It costs you nothing... saves you thousands'

Your Mortgage Now are Trusted Saskatoon Mortgage Brokers


Your Mortgage Now Saskatoon 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.

Your Mortgage Now - 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 Your Mortgage Now 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!

Your Mortgage Now - Trusted Saskatoon Mortgage Experts!



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!! 



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 goes 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 pros!  
  • 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! 





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129 21st St E #400
Saskatoon, SK   S7K 0B2
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