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Mortgage Monthly Newsletter – May 2015

Mortgage Monthly Newsletter

Mortgage Monthly  Newsletter – May 2015

Mortgage Monthly is published by Red Dog Financial

 

Important Dates this month

Mothers day – May 10th
Victoria Day – May 25th

Other Dates in May:

  • 6th: National Nurses day / No Diet Day
  • 8th: No Socks Day
  • 9th: Lost Sock Memorial Day (for all those lost and miss matched socks)
  • 13th: National Receptionist Day
  • 21st: Waiter & Waitress Day (tip well today)
  • 25th: Tap Dance Day (who doesn’t like Tap Dancing?)

April has been a busy month with mortgage wars fueling the economy and heating up the Real Estate market that seems like it will continue to push home prices in all major markets.  Condos remain difficult to finance as many lenders still feel that there are to many foreign investors that may crash this sector of the market.  There is also a huge inventory of new condo’s coming onto the Toronto market in 2015 that are holding condo prices in check.

The referral of your family & friends is the greatest compliment you can give me.
Thank you for your trust in me.

Share this email with your family & friends. Earn Referral Bonuses on any completed deal!

Thank you,
—Salim Moorani

Top articles this month:

Why are you still renting

Why are you still renting: Looking at houses for rent in Toronto, basement apartments average around $1200 and condos average around $1500 – $1700.  House can run anywhere from $1700 to $3500 per month.  Think about how much of that is going right out of your hard earned paycheck and straight into the landlord’s pocket!!  Have look at the following chart to see how much home you could be getting for the same amount of rent that you are currently paying….

 

100% Financing

 

No Money Down Mortgage: If you have good credit but are struggling with coming up with a down payment, our No Money Down Mortgage – 100% Financing Mortgage solution may be for you!  Lets face it, the largest hurdle facing new home buyers is coming up with a down payment.  With median house prices in Toronto averaging $550,000, coming up with the minimum 5% or $28,000 can be a real struggle as we live paycheck to paycheck…

RRSP Home Buyers' Plan

 

 

RRSP Home Buyers Plan:  The Government’s RRSP Home Buyers Plan allows individuals to withdraw up to $25,000 to use towards a down payment on a new home. For young couples who are looking to buy their first home, the largest challenge they face is not just finding an affordable to…

Invest in Canadian Real East Market

Invest in Canadian Real Estate Market and earn 10% Returns year after year: How is your current RRSP / RESP / TFSA  or other investments performing.  Last year, my RRSP’s managed by a big group insurance company made 4.9% return for the year.  It’s 10 year performance? Just a measly 2%. Not even covering the cost of inflation over the same time.  Have a look at …
(RRSP, TFSA, RESP, LIF Eligible Investment)

 

First Time Home Buyers

 

A new survey from Genworth: MI Canada is indicating that first time home buyers in Canada are “doing their homework and making responsible decisions” when entering the hot Canadian housing market.  1800 first time home buyers were surveyed and the stats show that they are responsible in managing their debts.   More than half of purchasers have not taken on more debt since purchasing and 1/3 of purchasers are making extra payments to pay down their debt faster.

Saving money on your mortgage renewal

 

 

 

How to save money on your Mortgage Renewal: This month, we helped a middle age couple who were renewing their mortgage with a local big bank.  Like many others in their situation, the bank cordially sent them a renewal letter about 6 weeks  before their renewal date.  The letter was…