Home Mortgage Planning
Updated: May 21, 2021
Home Mortgage Planning
Smarter home mortgage planning is essential to getting mortgage-free sooner, yet sadly, many are poorly educated on their options and rights. What you need is an ally – someone outside of a bank who can offer you personal attention in evaluating your profile, a review that must take into account the larger market forces at hand.
Without a customized mortgage planner you may lack a good grasp on all the opportunities you might be eligible for and make yourself vulnerable to unsavory practices by institutions that do not have your best interests at heart.
Whether this is your first mortgage or nth mortgage, Mortgage Delivery Guy’s customized service helps you to zone in on strengths that increase your home equity as you strive to manage your debt.
Prudence is critical to optimize any return on investment! Paying less interest is important, but banks tend to fixate on this far too much in their marketing campaigns. I will help you to integrate your short and long term financing goals with any mortgage decision you make, while helping to protect you from penalties that can hurt your future.
Mortgage Planning your secret weapon to wealth
Dreaming about your own home in Ontario but feel lost in the maze of mortgage planning? At MDG Services Inc., we get it. The mix of credit scores, income documents, and down payments can be daunting. But, rest assured, you’re not alone.
Whether you’re a dedicated professional, spirited entrepreneur, or resilient individual who’s faced challenges like bankruptcies, we’ve got you covered. Your commitment to homeownership and financial growth deserves an equally committed partner. The puzzle of mortgage planning may seem elusive, but we’re here to simplify it.
Imagine having a seasoned mortgage broker guiding you, empowering you with essential knowledge and tools. Someone who’ll help you smoothly sail to your dream home.
Welcome to MDG Services Inc., your trusted partner in mortgage planning. We combine Paramjit Singh’s years of experience and our robust, personalized services to help you navigate this process with ease. Our goal? To empower you with strategic insights and unlock the door to your dream home.
We don’t just enhance your credit score; we assist in managing your finances effectively. Our personalized mortgage solutions, tools like the mortgage calculator, and streamlined approval process can potentially save you big. Don’t risk losing out on potential savings and your dream home.
Our satisfied clientele, ranging from first-time homebuyers to seasoned investors, is proof of our commitment. Like them, you too can realize your homeownership dreams, save money, time, and stress. Don’t let the fear of unknowns hold you back.
Ready to turn your homeownership dream into reality? Connect with us at MDG Services Inc. today. Join our empowered community, chart your mortgage journey confidently, and take your first step towards your dream home.
Your 4 Reasons Why Take Home Mortgage Planning Serious
- Only place where Leveraging works the best
- Banks fight for your mortgage business
- Mortgage is the best way to own real estate
- The most effective vehicle to create wealth for you and your family
Home Buying
For first time home buyers, a decision on a mortgage is among the most important decisions they will ever make in their life!
Refinancing
As of Jan 01, 2018 stricter rules for refinancing mortgage in Canada will be imposed. It’s called Mortgage Stress Test.
Investing
Selections compiled will give you a good picture of where you stand and an estimation of your CID profile that will afford..
UPDATE JUNE 01, 2021: MORTGAGE STRESS TEST
As of June 01, 2021 all mortgages (insured and uninsured) with federally regulated lenders are to be qualified with the rate of 5.25% under stress test. This applies to home buyers with 20% or less than 20% down payment when buying realestate. These new rules also applies to refinancing.
Your 4 Benefits When Working With Us
Experience these benefits by working with me:
- Even if every lender rejects your application, I can still get you into your dream home.
- I reject lenders based on what mortgage product fits your needs.
- Your file is not sent to multiple lenders and hope something works, instead, I work on your case meticulously to match individual lenders for you
- You will receive status update every 48 hour on your mortgage application
It is easy to get carried away with the mortgage rate hype. The truth is that getting a mortgage is about more than just the mortgage rate.Your mortgage interest rate strictly depends on 2 major factors:
- Your CID profile-Credit, Income and down payment
- Type of Mortgage product you apply for
- Closing date for the loan/ transection
F.A.Q.
FIRST TIME HOME BUYER PROGRAM
As an aspiring homeowner, I’m caught up in the whirlwind of mortgage planning. Complex mortgage terminologies, deciding on the down payment, managing my credit score, and choosing the right property that fits my budget are all parts of this puzzle. Add to this, the lurking worry of fluctuating interest rates and my long-term financial stability. Lastly, I’m sweating over the mortgage stress test – proving I’m not biting off more than I can chew!
I grapple with the mortgage broker industry’s alien language of financial jargon, making it tough to make informed choices. Waiting for mortgage approval is like watching paint dry, and being left hanging when I’m eager to close is maddening. Sometimes I feel like just a number, yearning for a personalized touch in understanding my financial roadmap and house ownership dreams. Lastly, the booby traps of unpredictable interest rates and hidden fees can turn a dream into a nightmare!
The thought of signing up for Mortgage Brokering Services sends shivers down my spine. I’m making a decision that will ripple into my future for years, possibly decades. The fear of wrong choices, not understanding the fine print, or being unable to meet my payments if the going gets tough, haunts me. What if there are hidden costs or unscrupulous practices? It’s the fear of being played, and this fear creates a towering wall between me and these services.
What would I pay a pretty penny for? A service that’s not just about getting a mortgage but about sculpting my financial future. A mortgage planner who knows my finances inside out, weaving my income, expenditure, assets, liabilities, and financial goals into a mortgage product that fits me like a glove. Imagine if my interest rate is not just competitive, but unbeatable! Over the course of the mortgage, even a small difference in the interest rate can save a fortune. Add to this, a process that’s as smooth as butter, with no tedious paperwork or coordination headaches. Now that’s a premium service that’s worth every cent – a ticket not just to a home but a stable financial future.
This federal government program aka Home Buyers Plan HBP allow first time home buyers to withdraw RRSP funds up to $25,000 once with out any income tax on it.
If both you and your spouse/ partner qualifies for this federal government program, you can each borrow up to $25,000.
As long as you or your partner have not owned a primary residence within last 5 years and you are buying this property to live in you may be qualified for home buyers plan (HBP).
YES, you have to pay the rrsp withdrawn under the home buyers plan as a first time home buyer.
As per the plan all first time home buyers should start paying the rrsp loan back from year two onwards.
In general 1/15th of the borrowed rrsp funds under home buyers plan should be paid off every year. Any unpaid amount will be taxed in year 15.
If you buying a primary residence in Ontario you may qualify for a Land Transfer Tax rebate from provincial government. You may receive back up to $4,000 in taxes you paid when buying your first home in Ontario.
Yes Indeed!
If you are ready to buy your first home in Ontario Canada, You should speak to a mortgage expert who will take time to sit with you, evaluate your situation in detail, gather income and down payment documents and is willing to evaluate your credit details.
Being pre approved has become critical for all first time home buyers since Jan 01, 2018 when mortgage stress test was implemented. Everyone who has purchased a home in past or are first time home buyers has to pass the mortgage stress test.
Quit spinning your wheels. sign up for your no obligation, hassle free Mortgage Strategy Session today to learn about how we can help you with your mortgage services and planning.It is time for you to get into the home of your dreams.