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Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 5pm

Cory Byrne - Mortgage Broker License# M08000765

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Canada
Barrie, ON
Cory Byrne - Mortgage Broker License# M08000765

Mortgage Broker Lic # M08000765
Real Mortgage Associates Lic # 10464
(4)

10/02/2024

Congratulations to our first time home buyers!!!🏡🤩
Thank you for choosing us to join you on the exciting and amazing core memory! Buying your first home is such an amazing accomplishment and on behalf of our team, we congratulate you on getting your keys!🏡🔑
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09/18/2024

Thank you to our lovely clients Hunter & Sierenna , it was a pleasure getting you into your first home! Congratulations to you both, enjoy your new home ☺️🏡

05/03/2024

Understanding fixed rates vs variable rates can be confusing... 🧐

First let's discuss the differences between the two to get a better understanding of what each of these terms mean.

Fixed rate mortgage - A fixed rate mortgage is a mortgage where the rate of interest and payment are fixed for a specific period of time. Generally known as the mortgage term, it usually ranges from between 6 months and 10 years. As time goes on, more of the mortgage payment goes towards the principal and less of the payment goes to the interest.

Variable rate mortgage - A variable rate mortgage is a mortgage where the interest rate fluctuates with any changes in the lenders prime rate. If interest rates go down, your mortgage rate and payment will go down, but if rates go up, your payment also goes up. With some variable rate mortgages you can fix the payment and as long as rates stay below your required payment it will not change. If rates rise high enough that you are not covering the necessary payment, your payment will be increased.

So, which one is better?

Determining which one is better is as simple as looking at your ability to handle risk and a fluctuation in mortgage payments.

If you want to learn more about these terms and find out which one is better for your situation, please reach out to us with any questions and we'll be happy to help! 😁

05/02/2024

🏠 What is a Deposit on a Home?

When you make an offer on a house, a deposit to the owner shows you're serious! It's a chunk of money held "in trust" by your real estate brokerage as you finalize your purchase. However if you come to an agreement, and then you back out of that agreement, your deposit is forfeited to the seller. But if all goes well it counts toward your down payment! 💼🔐

👀 What is a Down Payment on a Home?

It's the initial chunk of cash you pay upfront when buying on credit. In Canada, you need at least 5% of your home's price to qualify for a mortgage on the first $500,000. Got 20%? Even better, as you could skip the mortgage insurance cost. 💰🏡

🔑 Quick Scenario:

Imagine buying a $400k home. You might start with a $10k deposit, and if needed, bump it up to make your offer stronger. That deposit then goes toward a $40k down payment to secure your mortgage. Meaning if you wanted 40k down, and you put 10k for a deposit, you only need to provide 30k as a downpayment and 10k deposit gets added for a total of 40k down. Simple, right? 📊🤓

🤔 Have questions about deposits or down payments? Drop a message or comment below! Ready to discuss your mortgage or home buying plans? Let’s chat! ☎️📩

04/24/2024

🏠 Thinking About Refinancing Your Home? Here’s Why It Might Be Right for You!

Are you considering refinancing your mortgage but not sure if it’s the right move? Refinancing can offer several advantages, depending on your current financial situation and future goals. Here are a few reasons why refinancing might be beneficial:

Lower Your Interest Rate: Securing a lower interest rate not only reduces your monthly payments but can also save you a significant amount of money over the life of your loan. It’s worth checking if rates have dropped since you first financed your home!

Consolidate Debts: If you have high-interest debts, consolidating them into your mortgage through a refinance can lower your overall monthly payments and ease financial stress.

Shorten Your Loan Term: If you’re looking to pay off your home sooner, refinancing to a shorter loan term can help you save on interest and accelerate your path to being mortgage-free.

Cash-Out Equity: Need funds for a major expense? A cash-out refinance allows you to tap into the equity you’ve built in your home for renovations, education, or even investing in more property.

Switch Rate Types: If you have an adjustable-rate mortgage, switching to a fixed rate during a refinance can provide stability and predictability in your payments.

Expand Your Investment Portfolio: For real estate investors, refinancing can free up capital to purchase additional properties. This is a strategic move to leverage equity to expand your real estate holdings and increase your investment income.

🔍 Is Refinancing Right for You?

Refinancing isn’t a one-size-fits-all solution. It’s important to consider the costs involved, such as appraisal fees and closing costs, and compare them against the potential benefits. If you’re thinking about refinancing, a consultation with a mortgage expert can help you weigh your options and make an informed decision.

📞 Feel free to send me a message if you have questions about refinancing or if you’re ready to explore your options. Let’s make sure your mortgage continues to work best for your financial goals!

04/08/2024

The Simcoe County downpayment grant might be for you.💰

It's a 20 year forgivable loan for renters in Simcoe County, and you could receive up to $50,000 for the downpayment on your purchase.🔑

Learn more on the Simcoe County website, or reach out to us if you have more questions!😁

https://simcoe.ca/wp-content/uploads/2024/01/FAQ-Homeownership-Program-Revised-2023-2024.pdf

04/07/2024

Are you looking to buy your first home in Simcoe County? 🏡

I created a 25+ page complete first time home buyer guide just for you!✅

The guide covers strategies to boost your credit, how to build an effective savings plan for a downpayment, a walkthrough of the mortgage pre-approval process and the documents you'll need, and so much more!💰

If you're interested in grabbing a free guide for you or someone you know, please reach out to us and we'll send it right over! Have a great day! 😁

Address

Real Mortgage Associates, 52 Grove St West
Barrie, ON
L4N1M7

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Website

http://corybyrne.com/

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