Trusted Tips and Resources

Trusted Tips & Resources

Trusted Saskatoon Mortgage Broker: Tammy Wandzura – Your downpayment and what you NEED to know

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! 


Saskatoon Mortgage Broker: Tammy Wandzura – Your downpayment and what you NEED to know


Downpayment for a new home: Seems like a pretty easy thing to understand. NO?

If you wish to purchase a home you need a downpayment. YES.

In most cases the minimum downpayment is 5% of the purchase price.

Proof of DOWNPAYMENT is one of the trickiest things for most people (first time home buyers OR repeat buyers) to understand.

Years ago a home purchase consisted of a verbal agreement and a handshake. Gone are the good ol’ days.  
  Today: due to money laundering and fraud minimum banking standards and policy requires every consumer (regardless of their income level, credit score or net worth) to provide the lender confirmation of funds being used for a downpayment in a very specific format.

Your lender will be verifying your down payment prior to full approval.  It’s required by all lenders to protect against fraud.

The lenders also are required to prove that you are not borrowing your down payment. Borrowing your downpayment can change your lending ratios and your ability to repay your mortgage.

There are no gray areas with proof of downpayment rules. There are no exceptions to the rules relating to proof of downpayment.

Every single consumer that wants to borrow money for a home (from any lender) needs to be able to viably prove downpayment.
EVEN IF: you are purchasing a $500,000 home and putting down $475,000 and only need a $25,000 mortgage – the rules still apply to you.

HOW CAN I MAKE THINGS EASIER FOR YOU?


 Follow our guidance and advice.  We are here as your Mortgage Expert to help you through what some of my clients have called a “minefield” of mortgage rules. By following our advice the entire pre-approval to possession date process is quite simple, efficient and speedy.

Get PRE-approved.


This simple step will allow us to gather and review your important and unique details UP FRONT-BEFORE you go house hunting and have very limited time restrictions to meet for your final approval.
   

Let us ask the hard questions up front.

If you are applying for a mortgage be prepared for full disclosure relating to all of your finances. Lenders will not even consider reviewing an application if something is left out or not clearly outlined.
We ask ALL of the hard questions up front so we can package the information in a way we know the lenders will accept it or consider it.
 If your downpayment source is questionable (cash from tips, cash from the sale of a vehicle, a gift from a family member, ETC)- run it past us so that we can provide tips on what the bank will need to see when you proceed with an offer on a home.  We are not the bank. We are here to provide you with the information you need to make educated decisions on what the bank WILL need to see so you can properly prepare yourself.
WHY do we ask the hard questions up front? To avoid delays for you when you need the final mortgage approval. To avoid disappointment and lost opportunities on homes you may want to purchase because the appropriate information and paperwork are not organized for the lender to review.

Send us your paperwork immediately.


We prefer to review ALL of your paperwork up front BEFORE you start house hunting with your Realtor.
We will provide you a detailed list of every document we need to review. Send this to us immediately.
This allows us time to review and ensure that the paperwork we have on file is exactly in line with what the lender will need when we request your final approval.
If we are missing something we will ask for MORE.
The more we ask for- simply means we are better preparing your file to get a speedy approval at the very best rates with the very best lenders.
The less information we have upfront will mean more information you have to provide to us last minute. This always creates un-needed stress for you throughout the home-buying experience.

Remember we are working for YOU. 


Not only are we Provincially legislated to work in the “consumers best interest” by the “FCAA” (Financial and Consumer Affairs Authority) BUT we just generally want to make the entire home buying experience seamless, stress-free and easy for you from PRE-APPROVAL to POSSESSION date.
We are not asking for paperwork that we will not need and we are not asking for anything to make things more difficult.
The more prepared YOU ARE – the faster the final approval process will happen for you.

Not every Mortgage is created equal.


Although you may be receiving advice and guidance from many sources (Online, Mom, Dad, Grandparents, friends, neighbours and colleagues) please know that every single person’s finances, employment situation, debt load, other financial obligations, credit score etc are vastly different and unique.
The differences in each mortgage request will mean different requirements for different people.
Mortgage rules have changed immensely and aggressively in the past 10 years and the approval process may be different for you than it was for your friend.

Saving for a down payment is often one of the biggest challenges.


The source of your down payment could come from your own savings, a gift from a family member, your RRSP if you’re a first time home buyer or from the proceeds of selling your current home.

EXAMPLES of DOCUMENTS YOU WILL NEED TO SHOW WHEN VERIFYING YOUR DOWN PAYMENT

1. Savings/Investments: If you’ve saved enough money for your down payment your lender will want to see a CURRENT 3-month history (90-day transaction history) of any account you plan on using for your down-payment. (Savings/TFSA/RRSP/etc)


Your statement will need to clearly show your name and your account number.  Any large deposits will need to be verified. Example: You sold a dirt bike and deposited $6000 into your savings account.  A few days later you transferred it to your TFSA. In these examples, you will have to provide a 90 days statement from your savings account and your TFSA.   Any transfers between accounts from one account to another will need to show a record of the money leaving one account and arriving in the other.  The lenders want to see a paper trail of where the money came from and how it got in your account.

A screenshot of a quarterly statement from last Summer just won’t do it.

2. Gifted Down Payment:  Mom and Dad (or ANY IMMEDIATE family member) can assist you with your downpayment. You will need a signed gift letter from your family member that states the down-payment is indeed a gift and no repayment is required on the funds.

The lender will also require that we show the funds have been deposited into your account no later than 15 days prior to closing.

3. Using your RRSP:  If you’re a First Time Home Buyer, you may qualify to use your Registered Retirement Savings Plan (RRSP) for your down payment.

Verifying your down payment from your RRSP is just like verifying from your savings/investment accounts.  You will need to show a 3-month history via your account statements with your name and account number on them.  Funds must have been in your account for 90 days.

4. Proceeds From Selling Your Existing Home:  If your down payment is coming from the proceeds of selling your current home you will need to show your lender a fully executed purchase and sale agreement between you and the buyer of your home.  If you have an outstanding mortgage on the property, you will also have to provide an up-to-date mortgage statement.

5. Money From Outside Of Canada:  Using funds from outside of Canada is acceptable.  The country of origin will determine the type of documents required by the lender. In some cases – some lenders require the funds are in Canada for a minimum of 30-90 days.  In these situations, it is good to review your options and timeline restrictions before starting the house hunting process.

Verifying your down payment will always require you to show documentation of where the money originated from. All large deposits need explanations and/or paper trails.

Want to make things easy?  Preparing to become a homeowner?

Use ONE bank account to save your downpayment. Avoid multiple transfers among multiple accounts. (Remember we need a 90-day transaction statement for each account that your money has moved in and out of). If you have been gifted funds from Mom, Dad, Brother, Sister etc, advise them they may need to sign a Gift letter.  If you have sold ANYTHING gets a bill of sale and deposit that amount of money directly into your bank account so that the bill of sale and the deposit match up exactly.  Been saving your TIPS? Or Birthday Money for years? GET THAT money deposited asap. It has to be in your account for 90 days before it can be used without a paper trail to authenticate the funds as per the rules above.

We can review your information now to prepare you for the future.

Thank you for taking the time to read and educate yourself on what steps you may need to take to consider homeownership.

I am here to work with you every step of the way!

Apply ONLINE or call me at 306.933.3386



Trusted Saskatoon Brags About Chef de Partie Catering & Events a Trusted Saskatoon Caterer

The Trusted Saskatoon Team are eager to brag about our newest Trusted Saskatoon partner! The Trusted community extends a warm welcome to Chef de Partie Catering & Events as a Trusted Saskatoon caterer! 

Chef de Partie Catering is a private catering company with commercial kitchens in the heart of the downtown Saskatoon business district.  Owned by Chef Heather Bekar-Schulte and specializing in creating high-quality dishes with fresh, local ingredients and uncommon flair. Heather and her passionate team cater local events, corporate parties and weddings, they also produce amazing pastries and build one-of-a-kind wedding cakes.



An Impressive Chef Resume


Heather was one of just 8 chefs selected to compete in the 2017 Gold Medal Plates and the 2018 Canada's Great Kitchen Party. In addition, Heather is one of three featured chefs in the "Chefs on the Saskatchewan" Shakespeare Festival fundraiser evening.  




Heather specializes in bringing high-end restaurant quality fare to you, and her reviews speak for themselves! In fact, the Trusted Saskatoon team can provide a review of our own! 

Sara, the owner of Trusted, was looking for a chef to come to her home to cook for the Trusted team Christmas party on a Saturday night in December 2016. After calling around to see who offered this service,  a chef friend of Sara's recommend Heather. We were glad she did! The menu options were delicious and beautifully presented, the service was outstanding and it was great that the kitchen was sparkling clean and all pots washed when she left!  The meal for 12 was a talking point for weeks after! We found Heather to be accommodating, efficient and the experience really added a luxurious and delicious touch to the teams Las Vegas Murder Mystery themed party! 

We are far from the only clients that have had a great experience with Chef de Partie, hear from Carol below. 



Heather was thoroughly professional yet relaxed while serving a delicious brunch in our home for a significant birthday. We enjoyed chatting with family and friends while she and Maggie quietly served a stellar meal. Along with all the classics, the Bannock and Saskatoon berry preserves were tasty world-famous-in-Saskatchewan menu additions. 
Heather provided all linens, flatware, stemware and crockery, deftly handling all prep and clean up. It doesn’t come better than this for attentive in-home catering. Thank you so much for making a special occasion memorable! "Carol Smith, Saskatoon" 


Heather was nominated to Trusted Saskatoon by several people, including Steve, her brother,  the owner of K & S Contracting a Trusted Saskatoon Contractor.  Clearly, they are a family driven by a true entrepreneurial spirit and determination.


'For us it is personal - Our culinary family will work with you to create a custom menu that fit your taste, budget, and style with uncommon flair.' Heather, Chef de Partie
We are thrilled to give the thumbs up to Heather and the team at Chef de Partie Catering & Events as a Trusted Saskatoon Caterer! see all they do and read client reviews on their listing here in our Saskatoon Catering and Bakeries category. 

Flash Electrical Contracting Trusted Saskatoon Electrician Answers Question Why Change Old Lights?

Flash Electrical Contracting in Saskatoon has based their business on 100% customer satisfaction and referrals! They take great pride in being a team of young and ambitious entrepreneurs that are keen to stay on top of the latest innovations when it comes to your Saskatoon residential or commercial electrical needs.

Why you should replace your old lights!

  


LEDs are extremely energy efficient and consume up to 90% less power than incandescent bulbs and have a longer life the other bulbs which means less waste. They can work in lower temperatures and are breakage resistant. Since LEDs use only a fraction of the energy of an incandescent light bulb there is a dramatic decrease in power costs. Let’s look at this a bit more in depth. If you have only five 60-watt bulbs that run for 15hrs/day, based on SaskPower's rate (14.23 cents) you would spend $19.20/month to keep your home/commercial space lit. In stark comparison, an LED costs $2.70/month to do exactly the same thing. That means you would save $16.50/month. That's a 711% ROI!!! Think of all possibilities for that new-found money, put it towards other expenses or just buy more donuts.  
 Right now, there are commercial incentive programs for swapping out your old standard lighting to new LED's. This new program provides businesses in Saskatchewan with access to select, premium energy-efficient lighting equipment at a discounted price. The program can help significantly lower your business’s electricity costs, and The Commercial Lighting Incentive is open to any Saskatchewan business that purchases lighting and electrical equipment through an electrical contractor like us at Flash Electric


Now you can see why LEDs have swept the conventional lighting marketplace, their extended lifespans, reduced energy consumption and lower maintenance requirements make them a clear a simple choice. Even instant savings when your contractor purchases qualified lighting equipment through a participating electrical distributor.

Contact Flash Electric Contracting today to see how we can help you keep the lights on.


 



Flash Electrical Contracting is owned and operated by Journeyman Electrician Brodie Johnston. Their business has been built on 100% happy customers who have recommended Flash Electrical Contracting to others. Flash Electrical Contracting are Trusted Saskatoon Electricians 

Suncatcher Solar and Electric Trusted Saskatoon Electricians Share Information About Electric Vehicles

A family company based in Saskatoon Suncatcher Solar Systems has been supplying and installing solar energy systems since 2003; they are Saskatoon's most established solar provider. Their Solar and electrical team designs, supplies and installs solar power systems and designs passive solar homes, they shared this article about electric vehicles as a viable option with our Saskatchewan winters.

Suncatcher Solar & Electric Your Trusted Saskatoon Electricians and Solar Experts.


Are electric vehicles a viable option with Saskatchewan winters?


Suncatcher install electric vehicle chargers and solar power systems to charge electric vehicles - an increasingly popular option!

Contact them today for a quote!


Electric vehicle owners Pat Keyser and Jason Cruickshank dispel some of the popular myths in this article. With the numerous financial and environmental benefits of driving an electric vehicle (EV) becoming increasingly apparent, more people are opting to make the switch — but some consumers are still worried about how cold temperatures affect the vehicles' performance.



THE BATTERY IS UNRELIABLE


As with a vehicle with an internal combustion engine (ICE), it does take more energy to run an EV in the colder months, although Keyser noted that the battery powering her Tesla Model S is much more reliable in winter than the battery needed to start an ICE vehicle.

Cruickshank added that the engine in his Chevrolet Bolt kicks in automatically to keep the battery warm. Another plus is the fact that the 12-volt starter battery will never die because it's constantly being charged — whether plugged in or not, he said.

“A lot of people compare these batteries to their cellphones. But those batteries are designed for different operating conditions — it's not designed for cooler temperatures; there is nothing in there to try to keep the battery warm or conditioned."


COLD REDUCES THE EV'S RANGE

Keyser admits her Model S doesn't make it quite as far in the winter months as it does in the summer — about 25 percent less, according to her observations — but ICE vehicles also consume more fuel when idling or powering heaters and other electronics. For her, it's simply a matter of shifting her thinking to how she can drive to better extend the battery's range.

When she has used her car on a long road trip, the charging stops gave her a chance to discover different communities where she would never have stopped otherwise, she added.


CHARGING INFRASTRUCTURE IS LACKING

While there is some truth to this, Keyser said it's simply a downfall of being a pioneer of the continuously growing industry. Both Keyser and Cruickshank admit Saskatchewan is significantly behind the rest of Canada in this aspect.

“When motorized vehicles first came along, there weren't gas stations everywhere," Keyser noted.

Most EV owners don't use public charging stations for full charges, opting instead to plug into a regular wall outlet overnight or at work, Cruickshank said. As long as they aren't on a long trip, finding a public charger isn't required unless they want to top up their battery while out and about.  


CHARGING TAKES TOO LONG

When it's cold, no one wants to have to stop for hours to recharge a vehicle — But unless you are travelling a long distance, you generally don't tend to completely drain the battery.

Cruickshank said it can take about eight hours to fully charge his Bolt using a standard plug — fine for an overnight charge, but he admits it's not ideal when travelling long distances.

However, the technology is advancing quickly and more quick charge stations are popping up that can take a battery from zero to 80 percent in less than 45 minutes.


EV IS SIMILAR IN EFFICIENCY TO AN ICE VEHICLE

Even in Saskatchewan, where the majority of electricity comes from burning coal, EVs are about twice as efficient compared to their gas-burning counterparts.

Plugndrive.ca estimates every 20,000 kilometres Keyser drives her Model S in Saskatchewan costs roughly $570 and outputs 2,495 kg of carbon dioxide. Those numbers jump significantly, to $2,490 and 4,880 kg of carbon dioxide, when calculated for an ICE vehicle. 

Cruickshank's Bolt performs even better, costing only $490 and outputting only 2,160 kg of carbon dioxide. 

In provinces like Quebec and Manitoba, where electricity is mainly created at hydroelectric generating stations, the amount of carbon dioxide emitted drops to roughly 30 to40 kg for every 20,000 kilometres driven.

Suncatcher Solar and electric are your TRUSTED SASKATOON SOLAR AND ELECTRICAL EXPERTS!

Original Artcicle - Star Phoenix https://thestarphoenix.com/news/local-news/five-misconceptions-about-driving-an-electric-car-in-winter

Prairie Laser Ink and Toner Trusted Saskatoon Printer Ink & Toner Suppliers Tip About Colors Role In Everyday Life.

 Prairie Laser Ink and Toner are a locally owned and operated family run business in Saskatoon. Owner/operator Anton Schouten and his daughter Maya Schouten have been running the business for over 17 years.   They are truly your printer, inkjet cartridge and laserjet toner guru’s in Saskatoon! Prairie Laser Ink and Toner are your Trusted Saskatoon Printer Ink & toner suppliers

RGB vs. CMYK: A Guide to Color Systems for Designers

Colour plays an important role in everyday life. It can affect your mood, your impression of a brand, and even influence your buying choices. Getting the color right in your designs is crucial if you want to convey the right message.

But as a designer, you should also know which colour system to use if you want your design to look as intended. Knowing which colour system to use will be a lot easier when you know how your design will be used.

There are two major colour systems in the digital and print design industries: the RGB colour system and the CMYK colour system. In this article, we’ll explain the difference between the two and show you how you can easily switch between them in Photoshop, Illustrator, and InDesign.


In short:

  • RGB = Red, Green, Blue. Use for digital designs.
  • CMYK = Cyan, Magenta, Yellow, and Key. Use for anything printed.


What is RGB?

    

 

RGB stands for Red, Green, and Blue. It’s used exclusively in the digital design industry because it represents the same colors used in computer screens, TV screens, as well as mobile device screens.

It’s an additive colour system which means that the primary colours are added together in various combinations to produce a much wider spectrum of colours. These colours are produced by blending light itself by superimposing the red, green, and blue light beam. Without any intensity, each of those colours will be perceived as black, while full intensity will make them appear white.

It’s also worth mentioning that different intensities of each colour will produce the hue of a particular colour. The resulting colour will also appear more or less saturated depending on the difference between the most and the least intensive colour.


When should you use the RGB colour system?

As a general rule of thumb, the RGB colour system should be used only in digital designs, most commonly when designing for the web. This includes designing websites and imagery and graphics for use on websites and social media.

If you want to use those designs in print, you will have to convert it to the CMYK colour system.


What is CMYK?

    


CMYK stands for Cyan, Magenta, Yellow, and Key (Black). Black, in this case, is referred to as key because it is used in the key plate which is responsible for adding the contrast and the detail for the final image.

The CMYK colour system is most commonly referred to as the four-colour process because it uses four different colours to produce different hues. The black colour here is used because the other three colours combined cannot produce a fully saturated black.

Unlike the RGB color system, CMYK is a subtractive color model because the printed ink reduces the light that would normally be reflected. The inks used subtract the brightness from a white background from those four colors. The CMYK colors are mixed during the printing process which can sometimes cause minor inconsistencies. For that reason, you should always look at the printed proof of a given project before going through with the full print run.

When should you use CMYK?

As hinted in the previous section, CMYK is the recommended colour system for any material that will be printed. This includes business cards, brochures, letterheads, and any other business collateral.

Since this colour model is the only one that can produce the greatest accuracy when printing colour photography, it should be your primary choice for any print job that uses more than four colours.


How to convert RGB to CMYK in Adobe programs and keep your colours vivid

Nowadays, most design software is set to the RGB colour system. If you’re designing for the web, that’s fine, but if your project is intended for print, you need to switch from RGB to CMYK.

Here’s how to do it in the Adobe programs which are considered the industry standard.

  • In Photoshop, click Image > Mode > CMYK Color.
  • In Illustrator, click File > Document Color Mode > CMYK Color.
  • In InDesign, click Window > Color, then click the dropdown button in the upper right corner and select CMYK.

But what happens if you need to design for both print and web for the same project? In that case, it’s recommended to start with the CMYK model and design all the print assets first. Then, switch to the RGB model and design the assets for the web. Doing so will give you a closer match in colors as RGB has a wider range of colors which may turn out quite pale when you convert them to CMYK.

Watch: RGB vs. CMYK explainer

  

Where to find CMYK and RGB templates and resources?

Knowing the difference between RGB and CMYK is crucial if you’re a designer. However, designing from scratch may not always be feasible. That’s where various templates and resource packs come in handy.

But, even if you’re using a graphics pack or stock item, you still need to make sure they were designed in the correct colour system unless you want to spend time converting them and correcting possible mistakes yourself.

Thankfully, marketplaces such as GraphicRiver and Envato Elements have plenty of stock items that utilize the corresponding colour systems. Below are a few examples that might just save you a few hours on your next project.

Ultimate Mega Branding Pack

    


Designing a complete branding identity is no small undertaking but you can save yourself a few hours getting the dimensions and guides right by using a set of pre-made templates. Then, all you have to worry about is translating the brand vision onto the printed material. This pack includes the most important brand collaterals designed in CMYK color mode which makes them ready for print.




Facebook Post Banners

   

 

Social media networks are notorious for changing the recommended images all the time. Instead of recreating the template each time, your time would be better spent adding the visual image of the brand to a premade template. This set of banners comes in two sizes, each of them designed in the RGB color mode so they can look great on the web

 


Cetho Business Proposal

     
 

This business proposal template is perfect when you need to design a business proposal for a client. The dimensions and the CMYK color mode is already in place so all you have to do is replace the visual elements with those used by your client’s brand.






Mixed Flat Icons Bundle

 

Icons are always useful in a variety of designs. This bundle has more than a thousand icons and they are all designed using RGB. The set also comes in AI, EPS, PSD (Vector Shapes), SVG & PNG formats and includes 42 different categories of icons such as transport, food and drinks, weather, clothes, holidays, and more.

 

Final thoughts

Using the correct colour mode for your projects saves you time and it also helps your final project to look as intended whether you use it on the web or in print. You’ll also be able to spot any potential issues with your design and correct them before sending them off to the client.

Remember to always check the color mode in your design software and adjust it accordingly as well as asking your client for the intended use of the final product. And if you need graphic resources, don’t forget to stop by our marketplace and search for templates that can help you cut back on design time dramatically.

  





     



Categories

Previous Posts

ADDRESS

S & E Trusted Online Directories Inc
TrustedSaskatoon.com
129 21st St E #400
Saskatoon, SK   S7K 0B2
Ph: 306.244.4150

GET THE APP

App Store Google Play
Follow us on Facebook Linked In Twitter YouTube RSS Feed
Abex
Abex
Stevies
Sabex
NEYA
Website hosting by Insight Hosting