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Expert Mortgage Advice

Serving Barrie & The GTA

Using Home Equity to Fund Goals

Using Home Equity to Fund Goals   Your home is probably one of the most valuable assets you have. Why not take advantage of some of the equity in your home to purchase a secondary property, do home renovations, or go on a vacation. Using the equity in your home you can secure a low interest rate, combine all your personal credit into one, and save. Why not consider a low cost combined borrowing solution that has the fixed payment schedule of a mortgage and the flexibility of a line of credit so you have access to those funds whenever you need them. You could also pay off the line of credit portion at any time without any prepayment cost and have the access available to you, up to your full credit limit. Or you could consider a traditional mortgage. A traditional mortgage is a loan that is secured against your property but it is also very easy to budget. You have a fixed payment schedule and an assured pay off date. What’s right for you depends upon your own individual circumstances, speak to a financial advisor, get a financial analysis and see whats right for you! Tim Shwed 1-866-247-1378 Tim Shwed CIBC Mortgage Advisor 866-247-1378...

Special Event

Mark your calendar! HGTV’s host of Income Property Scott McGillivray is coming to Barrie on May 21st. If you would like to register for this event click below! CIBC Mortgage Advisor – Tim Shwed 866 247-1378 705 737-3302...

Household Budget Spreadsheet

Saving for a down payment or simply looking to track your monthly expenses? Try out this FREE Household Budget spreadsheet! If you have any question let me know! CIBC Mortgage Advisor – Tim Shwed 705-737-3302 866-247-1378

First Time Home Buyer Tax Credit

If you are a First Time Home Buyer about to Purchase a Home or have purchased in 2013 or 2014….Did you know that you can claim up to $5,000 with the First Time Home Buyers Tax Credit Program? Watch the video below for details. Call me today for more details. CIBC Mortgage Advisor – Tim Shwed...

Down Payment Strategies

One of the biggest challenges facing first time homebuyers is down payment. If you’d like to find out how to buy a home with little or no down payment click below and sign up to receive my 2-Part Video Series explaining how!    ...

Ontario Renovates Program – Secondary Suites

All you need to know regarding qualification. Program begins April 1, 2014 – March 31, 2015. Funding is limited and will be available on a first-come first-served basis. Download the fact sheet to learn about: 1 – Are you eligible to apply? 2 – Eligible projects. 3 – Program requirements. 4 – Ineligible projects. 5 – Funding. 6 – Loan forgiveness. 7 – Program defaults. 8 – How to get an application. Call me if you have any questions. Tim Shwed CIBC Mortgage Advisor/Builder Specialist 705-737-3302

Know Your Real Life Debt Ratio

Before you apply for a mortgage it is a good idea to know your Real Life Debt Ratio.   Download the Real Life Ratio interactive spreadsheet here. It’s designed to show how well you’ll be able to handle the basic monthly costs of home ownership, plus real life expenses such as cars, daycare and long-term home maintenance. Prospective home buyers should try it, and so should existing homeowners who want to see how well they’re handling their finances. The Real Life Ratio is an expansion of a simple affordability measure I introduced last year called the Total Debt Service and Savings Ratio, or TDSS. The idea of creating something more comprehensive came to me after a Globe and Mail series on daycare was published last fall. We heard from many people about how hard it was to manage the cost of a mortgage in today’s expensive housing market, on top of daycare and other costs. Use the Real Life Ratio and you’ll know what you’re getting into before you buy a house. You may decide you need to save a bigger down payment, buy a smaller house, live in a cheaper location or not buy at all. Here are a few important things to know about the ratio: 1. Household take-home pay is used here: Other ratios use gross income, which is less relevant for practical financial planning. 2. This is not a budget: Only fixed costs are included here; food, clothing and other costs aren’t discretionary, but you decide how much to spend. 3. Costs for home maintenance and improvement are included: You won’t face these costs every year, but on a...

Critical Step # 1 When Buying A Home

Critical Steps to Buy Your First Home Critical Step #1 Your Credit Score! When buying your first home and applying for a mortgage your credit score is the single biggest factor that lenders use in determining your interest rate and whether you will get approved! The shocking truth is most people don’t even know what a credit score is, let alone whether they have a high score or a low one. If your credit score is low, you could end up paying thousands of dollars in extra interest over the life of your mortgage. It’s time you learn the shocking truth about how your credit score is calculated and more importantly how to improve it almost overnight. I’ve prepared a special Credit Repair Guide entitled “12 Simple No Cost Methods to Repair Your Credit”. Visit my website – http:/ CIBC Mortgage Advisor Tim Shwed 866-247-1378

CMHC Increases Mortgage Insurance Premiums

OTTAWA, February 28, 2014 — Following the annual review of its insurance products and capital requirements, CMHC will increase its mortgage loan insurance premiums for homeowner and 1 – 4 unit rental properties effective May 1, 2014.  Click the image below to read the entire...