Trusted Tips and Resources

Trusted Tips & Resources

Trusted Saskatoon Mortgage Brokers Your Mortgage Now Tip About The 2020 Housing Market

Buying a home is one of the most important and exciting steps in your life.... found the home you want now you need a mortgage. Deal with people who can offer you and your family the best options.  Devin Cristo and Wes Will of Your Mortgage Now are Saskatoon Mortgage Experts and they have many years of experience helping individuals and families by offering mortgages from a variety of lenders. Your Mortgage Now are Trusted Saskatoon Mortgage Brokers, in their latest Saskatoon mortgage tip they share info on the 2020 housing market. 

 Homebuilders Deals & Incentives on New Construction

Mike and Crystal Green couldn’t have picked a worse time to look for a new home. In mid-February, Mike was offered a promotion to be a regional sales manager at a computer security company. The catch was the couple would need to relocate 

The Greens accepted an offer on their home two days after it went on the market in early March. But by then, the Greens didn’t feel safe flying to check out houses given the coronavirus pandemic.The government was urging workers to stay home if possible and practice social distancing when out in public to combat the spread of the coronavirus.

That wound up working in their favour. The Greens went online and took a virtual tour of a home they liked. It was in a new development. They were able to choose custom details via Zoom and email—and got a discount on their new home

If they closed in March, and the builder would throw in a free Whirlpool refrigerator, washer, and dryer as well.


The Greens have plenty of company on the receiving end of a wave of aggressive incentives for buyers of new construction. With a global health crisis raging and the ensuing financial fallout with many workers laid off,  homebuilders around North America are offering discounts, throwing in freebies, and covering closing costs to attract buyers and close deals.

They had to do something. Tours of new-homes have dropped and more potential buyers deciding to put off their new home searches until things truly settle.

CMHC

2020 summer edition of the Housing Market Outlook report provides forecasts for Vancouver, Calgary, Edmonton, Toronto, Ottawa and Montreal. It builds on the Spring 2020 edition that focused on housing market activity for Canada and the provinces.

These reports give high and low range projections on new construction, home sales, house prices and rental market activity.

Housing forecast overview for Canada’s major urban centres

  • Sales and construction have dropped
  • House prices will likely fall because of uncertainty over the economy’s path
  • It is possible that vacancy rates increase in the rental market
  • Recovery in major markets is highly uncertain and will vary considerably

For Canada’s 3 largest cities, there had been steep employment declines according to Statistics Canada:

  • 18% in Montreal
  • 17% in Vancouver
  • 15% in Toronto 
Such large employment and income declines, coupled with uncertainty over the future trajectory of the virus, will lower demand for housing in the urban centres. Housing starts should rebound by year-end, as projects, settled before the pandemic, should be starting soon.  Rental apartment starts will benefit from the slowdown in the demand for homeownership. 

By 2022, housing prices should be following a slight upward trend and even exceed their pre-pandemic levels.

Read the full CMHC report here 

Buyers may also get deals on custom homes

While deals on newly constructed homes abound, buyers can also shop around for discounted lots where they can have their dream homes built.

No time for an appointment?  No problem! You can apply online with Your Mortgage Now!

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

Your Mortgage Now are Trusted Saskatoon Mortgage Brokers

Trusted Saskatoon Mortgage Brokers Your Mortgage Now Tip On Purchasing Property During the 2020 Coronavirus Pandemic

Buying a home is one of the most important and exciting steps in your life.... found the home you want now you need a mortgage. Deal with people who can offer you and your family the best options.  Devin Cristo and Wes Will of Your Mortgage Now are Saskatoon Mortgage Experts and they have many years of experience helping individuals and families by offering mortgages from a variety of lenders. Your Mortgage Now are Trusted Saskatoon Mortgage Brokers, in their latest Saskatoon mortgage tip they share tips and advice on Purchasing Property During the 2020 Coronavirus Pandemic. 


What  Are Your Top Questions About Purchasing Property During the Coronavirus Pandemic?


The coronavirus pandemic has thrown millions of people's financial plans off the rails, and that certainly includes home buying. If you were hoping to purchase a property soon, you no doubt have a lot of questions—about whether it's possible to buy or tour a house now, COVID-19's impact on home prices, and more.


Is now a good time to buy a house, financially speaking?

From a financial perspective, there are certainly some advantages to buying a home right now. For one, mortgage interest rates are historically low, which means your monthly housing payments will be lower, too. And putting a property under contract now and locking in a low interest rate gives buyers more control than living in a rental where rents might go up.

Another big consideration on the financial side of the home-buying equation comes down to competition. The coronavirus has dissuaded some home buyers from home shopping for the time being. So buyers who do venture out face less competition, which could put them in a stronger position to negotiate with sellers.


How has the coronavirus affected home prices?

The coronavirus has the world economy in turmoil. But so far at least, this does not mean that home prices have plummeted across the board or that buyers can lowball their way to a bargain. Instead, in most real estate markets, home inventory remains very tight.

"I don't expect the slowdown to be like the last recession where prices fell," says realtor.com chief economist Danielle Hale. "There are more than enough buyers out there to keep home sales from slowing in any major way.”


Is it safe to buy a house now?

While no one can guarantee you won't catch the coronavirus, the real estate industry has worked to prioritize buyers' and sellers' health by eliminating personal interactions almost entirely during the pandemic. Even as different states reopen, you can still do most aspects of the home-buying process remotely, or at a safe social distance, when it comes to your home search that you may not have considered doing in the past.

First, you can find and interview Saskatoon and area Realtors virtually. While showings may not be easy to arrange because of shelter-in-place orders or continuing health concerns, most real estate listings now offer virtual tours.

Should I buy a house sight unseen?

While buying a house sight unseen has long been the only option for people relocating due to a new job or military service, the trend has been on the rise for more and more folks. In fact, according to a realtor.com survey of 1,300 consumers during the week of April 5, 24% (or 1 in 4) said they'd be willing to buy a home without seeing it in person.

Buyers who consider buying a house sight unseen generally have some comfort level with the neighborhood and know the market. And according to realtor.com senior economist George Ratiu, the comfort level of buying a house sight unseen may come down to age.

"Younger cohorts are more inclined to rely on detailed photos, virtual tours, or live video instead of an in-person visit, with 31% indicating they would be willing to buy sight unseen," says Ratiu.

Even if you're buying blind, you shouldn't operate completely in the dark. Here are some features that buyers find most helpful in such a home search.

  • The ability to take a virtual tour of the home
  • Listing and neighborhood information that is accurate and detailed
  • Plentiful, high-quality listing photos that show the property's interior and exterior
  • An agent or landlord who can walk a buyer through the property via video chat

Ask for more advice on how to buy a home sight unseen before you commit to a purchase.

What Else? 

  • Figure out how much home you can afford: The pandemic has roiled markets and caused tremendous economic uncertainty. So you'll want to carefully consider how much home you can afford and err on the conservative side. Contact us to help you determine your monthly mortgage payment.
  • Secure mortgage pre-approval: Now it’s more important than ever to get pre-approved to show sellers you’re serious when you make an offer. Pre-approval shows how much a lender will loan you, assuring the seller that you’re financially capable of buying a home.


No time for an appointment?  No problem! You can apply online with Your Mortgage Now!

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

Your Mortgage Now are Trusted Saskatoon Mortgage Brokers

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” without 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 6am or 7am 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 Brokers Your Mortgage Now Share A Tip About Your Phone and Low Mortgage Rates

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!

So How Does Your Phone Affect Your Mortgage Rates

What many people aren’t aware of is that your cell phone payment history DOES affect your credit score.
 
Cell phone accounts work differently than a credit card or a line of credit. A cell phone is an open or “O” account, which means the balance has to be paid in full at the end of each month.
 
There is no such thing as a minimum payment with an “O” account like there is with credit cards and lines of credit. You can’t just pay a portion of your bill. The amount that you see on your statement has to be paid in full otherwise your credit score will suffer.
 
Unfortunately, many Canadians don’t view paying their cell phone bill in full or on time as being as important as other payments. Lenders disagree. The bank underwriters (the people who review your application) are thinking, “If you can’t make or keep track of a cell phone payment, what are the chances that you are going to be responsible with your mortgage payment?”

Costly Missed Payments

Let’s take a look at one borrower, John, who was declined for best-rate mortgage financing on the purchase of a new house because he had three late payments on his cell phone bill during the last two years. His argument wasn’t unique. “I called (the phone company) before the payment was due and asked if I could pay half of the bill this month and the remainder of the outstanding balance the following month,” he said. “The customer service rep told me that it was okay to take a couple of months to get caught up.”
 
Susan and Frank found themselves in a similar situation. They were approved for mortgage financing but were then declined at the last minute due to a recent late payment showing up on their report in the same week they were supposed to be moving.
 
Arranging a mortgage and preparing for a move is stressful enough without having a financing issue in the eleventh hour. In the end they were able to find a resolution, but it resulted in a delayed closing. They had to get approved by a different lender at a higher rate. In addition to all the stress and time, this small mistake ended up costing them $3,459.28.
 
Despite what they tell you, late payments will continue to be recorded until your account is caught up. Underwriters will look at an applicant with an outstanding balance as someone who is not in control of their finances. It will drop your score and hurt your chances of being approved for best rates and terms.

A Matter of Principle

It’s common for consumers to not make a payment because they were unfairly charged or they found a mistake on their bill. On principle, I understand that you might not want to make the payment, however, even if you are disputing the charge, it will not stop the negative item from showing up on your credit report.
 
And keep in mind that one late payment can be enough to negatively impact your best rates and terms for future financing. Your cell phone company will start the collection process if an overdue balance is not paid within 60 to 90 days.
 
As you can guess, a collection appearing on your report does not help your credit score. Many of my clients echo my caution, and in hindsight wished they had simply paid the bill in the first place. If you find yourself in this situation, my suggestion is to clear the amount owing first, and then dispute the charges. That way it doesn’t lower your score or cause you to get charged higher rates just because of one account. 

Warning…Warning

If you have paid out or closed your cell phone account, make sure you get something in writing to confirm that there is no outstanding balance owing.
 
The same goes for an outstanding amount or settled collection. Don’t take anyone’s word for it or assume that it will be updated on your credit report. Are you starting to see a trend? Whatever you do, get confirmation in writing! If you don’t, it will make trying to correct the error even more difficult.
 
The only way to avoid having your cell phone report on both Equifax and TransUnion is to go with a pay-as-you-go contract. If you are on any other type of plan, keep your fingers crossed. You don’t want to be one of the unlucky ones to have a cell phone error or problem tarnishing your credit. To improve your chances of avoiding any issues, ensure you pay the full amount owing each month and keep good records.


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, gets 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 “life long” clients, and WHY our business is built on referrals from happy clients. This emphasises 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 expecations 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

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