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Tag Archives: mortgage

Improve monthly cash flow by wrapping debts into the mortgage

Improve monthly cash flow by wrapping debts into the mortgage

 

Improve monthly cash flow by wrapping debts into the mortgage. If you own a house and have credit card and lines of credit debts that you’re not paying off each month, the best way to improve your monthly cash flow is to wrap the debts into the mortgage. Aside from credit cards and lines of credit having higher rates than your mortgage would, how the interest is calculated impacts your ability to pay off the debts. For example, the interest on credit cards is calculated daily vs. the interest is only calculated semi-annually on mortgages. Although it seems like you’re paying a pile of interest on your mortgage… if you compare what it would be if you have a line of credit in the same amount then you’re actually paying less off.

Contact us! We love helping people with technically-supported honest mortgage advice!
© Sandra Lastovic is the Principal Broker with the Mortgage Centre in Guelph. With over 15 years’ experience and holds a M.Sc. from the University of Guelph. She was recently ranked at the top 75 agents in Canada by The Canadian Mortgage Professionals annual survey and 2017 Most Influential Women in the Mortgage Industry. She can be reached at 519-763-3900 x1001 or www.skipthebank.ca™

 


REALTORS®: Don’t assume your clients can qualify for a mortgage—even if they own a house

REALTORS®: Don’t assume your clients can qualify for a mortgage—even if they own a house

  REALTORS®: Don’t assume your clients can qualify for a mortgage—even if they own a house. More people are self-employed, or might be pensioners on reduced income: they can’t qualify for even a simple bridge loan. Before you list—be sure that your clients talk to us—set up a plan. Sometimes, it means setting up a… Read More

Review and adjust monthly obligations to take the worry out of mortgage rates going up

Review and adjust monthly obligations to take the worry out of mortgage rates going up

Review and adjust monthly obligations to take the worry out of mortgage rates going up. Are interest rates increasing, adding to mounting debts? A simple affordable solution may well exist with a call to Sandra. Worried about rates going up and meeting your payments on your mortgage plus your other debts? There’s likely a good… Read More

Consolidate: Staying within budget when debts exceed monthly income

Consolidate: Staying within budget when debts exceed monthly income

  Staying within budget when debts exceed monthly income: By consolidating your monthly debts into your mortgage, you can manage your budget and get control of spending. Let us review your situation together, and show you how consolidating can be possible. Call me or email me if you have any questions! We love helping people with… Read More

How Often Variable Rates Change

How Often Variable Rates Change

    How Often Do Variable Rates Change? The Bank of Canada can legally change its prime lending rate plus or minus, sixteen times a year. In reality, it normally only changes about once or twice, and is plus or minus .15% to .25% per annum. We can help a home owner in forecasting those… Read More

Tip for when buying a house – Get all the documents organized that the lender will want to see

Tip for when buying a house – Get all the documents organized that the lender will want to see

  Tip for when buying a house – Get all the documents organized that the lender will want to see: the importance of Documentation. If you are employed: Two years of T4s; Two recent pay stubs; Letter of employment If you are self-employed: Make sure income taxes are up to date If you own a corporation:… Read More