The Mortgage Centre - R.D.M. Financial Consultants

The Mortgage Centre - R.D.M. Financial Consultants helping home buyers get the right mortgage based on their personal situation. As a broker, he works for you, not the bank.

As a mortgage broker, The Mortgage Centre's Gunther Kaschuba in Burlington can help you secure the best mortgage for your needs and budget. With over 25 years in the mortgage and real estate industries, Gunther is a licensed mortgage broker and was a licensed real estate agent, giving him valuable knowledge of both sides of the transaction. He not only offers excellent advice, but he can also shop

around at a variety of financial institutions to find you a mortgage with the best rates and terms. He offers a variety of residential financing options; including first and second mortgages, equity takeouts, renovation financing, debt consolidation, secured credit lines, investment purchases, and more! You can count on him to help you the purchase of a home or property, refinancing your current mortgage, renewing your mortgage and helping you secure a mortgage even if you have credit issues. For more information, call 905-308-1223.

10/29/2024

Thank you to all my clients and friends who have supported me over the past 50 yrs in the mortgage industry. I have now retired. All my files are now with [email protected] Chantal is available to assist you with all your mortgage questions and needs

10/27/2022

Bank rate has increased again, for the 6th time, but not as high as expected. This leaves the door open for another increase in December. Bank prime is now at 5.95%
Many home owners are concerned with being able to manage payments. Now is not the time to panic! As was indicated in previous posts, all home owners had to qualify at the Stress Test rate at time of application. For many that rate was 5.25% . If you are in a variable term, you most likely had a discount on that variable by as much as 1.00% , so your current rate is just around the Stress Test rate. Yes your payment has gone up, but not beyond what the Stress Test deemed affordable.
Yes the bank rate will probably go a little higher. So, now is the time review your budget, tighten where you can and ride out the storm.
For some homeowners, it may be difficult to continue on a variable basis and locking into a fixed rate seems like a better option. If so then go short term, 1 or 2 yrs. These economic cycles have happened before and usually last 18 to 24 months. You want to be in a position to take advantage of lower rates when the Bank of Canada starts to lower rates.
No matter what your situation or what happens in the economy, seek professional advice before acting. A panic move now could cost more later on

09/05/2022

With mortgage rates continuing to climb higher, homeowners with mortgages renewing are facing an important financial decision, long or short, fixed or variable? While payments will be increasing, remember this, when you took your mortgage, you were qualified at a Stress Test rate of around 5%. This means that while your payment may be going up, it should still be financially affordable. You may have to adjust your budget for other things, but your home should not be at risk.
Next thing to consider on renewal is long or short. We have been through difficult financial periods many times. In 1981/82 we had rates at 20%, in the early 90's rates were still in double digit territory. What we learned was that these times of high rates usually lasted 18 to 24 months. That being said, when renewing look at a 2 year term or if you are comfortable, look at a variable term. So when rates start to move lower your rate will come down too

06/14/2022

With 5 yr mortgage rates now averaging upwards of 4.50%, the opportunity for variable borrowers to lock in has passed. Most variables done over the past 2 yrs have discounts of about 1%, so riding out the rate storm is a good strategy. Even if the bank rate goes up another full percentage point to 4.70%, which is more than likely, with your rate discount you are still below what a fixed rate would be.
Another thing to remember is to use the interest savings towards pre-payment to reduce the mortgage balance. This will help prevent 'payment shock' when rates do rise

04/13/2022

Bank rate is up again! This time its 50bps pushing Prime to 3.20%. If you are in a variable or HELOC mortgage, expect your rate to increase by months end. And we are not done yet! Be prepared for 2 or 3 more increases before the year is up.
Fixed rates have also been steadily increasing with a 5 yr high ratio rate averaging 3.84% and conventional at about 4.09%. There are some rate 'specials' out there giving rates of 3.59% on a purchase

02/15/2022

With mortgage rates on the rise, now is the time to look at consolidating debt and lowering monthly debt payments. With credit card rates ranging from 11.9% to 19.9% and unsecured credit lines at around 6.50% or more, refinancing the debt into your mortgage could reduce monthly payments by $500 or more depending on the size of debt. Call me for a no obligation or cost consultation and analysis of your personal situation

01/20/2022

As we get through the second full year of the COVID Pandemic, real estate markets continue to climb to new heights. Mortgage rates increases are not far behind. Fixed rates, which are tied to bond yields, have been steadily increasing since mid 2021 and are now back to pre-COVID levels of Jan 2020.
Bank of Canada was expected to start prime rate increases late in the second quarter. But now with the new inflation numbers, the highest in 30 years, we may see the BoC start rate increases as soon as the next meeting on Jan 25th.
This will have little effect for mortgage borrowers qualification as they still need to qualify at the current Stress Test rate of 5.25%

11/11/2020

Low interest rates have kept the market hopping! COVID19 has not deterred homebuyers from searching the market for that 'perfect' home. It is important that anyone looking for a home have a written mortgage pre-approval in hand. While many financial institutions have an on-line tool for Pre-Qualification, this is not a pre-approval! Speak with a mortgage professional and get that written Pre- Approval which looks at credit, employment and income.
Senior homeowners concerned with moving to senior residence or assisted living during COVID19 may want to consider a Reverse Mortgage which would give them the financial assistance to remain in their home for a while longer. Or the Reverse Mortgage can provide renovation funds to maximize sale value

08/29/2020

It has been a busy summer for real estate sales. Low mortgage rates have contributed to the demand. This trend is expected to continue through the fall months. One concern is homeowners that have taken Mortgage Payment Deferrals. This program ends in October and is not expected to be extended. If you are a home owner with payment Deferrals, now is the time to discuss options available.

11/12/2019

Too many mortgage borrowers are obsesed with rate as opposed to mortgage terms. Saving 5 or 10 bps on rate can cost thousands more if an early payout is required or if the propertty needs to be refinanced prior to maturity. As a mortgage professional to provide terms, not just rate

09/30/2019

Seems most people are focused on the upcoming federal election. For home buyers it will be inportant to understand promises being made and how those promises could assist with the purchase of a home.
Liberals are looking to increase the maximum purchase allowed under the new First Time Homebuyer Incentive Program.. Conservatives are promising to reduce the Stress Test rate. NDP are promising to fight money laundering which has a direct impact on real estate values.
Read the party platforms and make an informed decision whom to vote for

09/05/2019

Bank of Canada decision makers have left rates unchanged for a 7th consecutive meeting. Bank of Canada cites stronger than expected growth, as well as inflation on target, means current level of stimulus are where they should be. Bank of Canada gave no indication of future rate decreases or hikes in the near term

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3455 Harvester Road Unit 24
Burlington, ON
L7N3P2

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