Tim Lyon - Mortgage Consultant

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Canada
Burnaby, BC
Tim Lyon - Mortgage Consultant

I can find the best mortgage options available for you based on your unique situation.

08/26/2024

Excited to share this new listing from ! If you love this home, I’ve done the math to show what the mortgage payments might look like in a few different scenarios.

If you want to see if this could fit into your budget reach out and I would be happy to help!

05/25/2024

Key Mortgage Term! 🔑🏠 A Live File is when a mortgage application is ready for submission or already under review by a lender. For purchases, this requires an accepted offer. It is only at this stage that lenders will begin to review the file and be open to negotiate.

05/20/2024

A basic mortgage concept is that you pay more interest in the beginning.
The graphs shown are for a mortgage of $500,000 with a rate of 5.25% amortized over 25 years. The first graph shows how much of the constant payment goes towards paying down your interest and how much goes towards your principal. As you can see in the beginning most of the payment goes towards interest.
The second chart shows the declining principal balance over time. In this example it takes 16 years and four months to pay off the first 50% and 8 years and 8 months to pay off the second 50%.

Note: for the sake of simplicity, this example assumes a fully amortized loan with the same rate for 25 years. This is highly unlikely because in Canada typically the longest term is 5 years, meaning you would need to get a new rate at minimum every 5 years but this is just to illustrate how the interest is paid first. If you are interested in a more custom analysis based on your situation, please let me know.

05/14/2024

Integrity, Efficiency, Excellence 🌟 These are the core values of my business, and nothing is more rewarding than seeing them reflected in the experiences of my clients. This review not only reaffirms my commitment to those values but also serves as a reminder of why I do what I do. 🙏🏼

05/09/2024

Renewal Reminder! Planning ahead is key. If you don’t want to keep track, sign up for my mortgage monitor today and I’ll pay attention for you! DM Mortgage Monitor and I will get you signed up!

05/04/2024

If you are thinking of getting a mortgage within the next few months it’s worth considering a rate hold. If rates go up your rate is locked in. If they go down, we can get a better rate. There is no downside.

04/29/2024

A pre-approval gives you a shopping budget and the confidence to make an offer. It should be the first step in the home buying process.

04/23/2024

This is just a quick reminder that there are options.
If you or someone you know is feeling overwhelmed by debt, give me a call. I may be able to help.

04/18/2024

If your mortgage renewal is coming up make sure to look for your renewal notice from your current lender. They should send it to you about four months prior to renewal. This notice isn’t just a formality—it’s your cue to spring into action. Before you re-sign on the dotted line, let’s make sure you’re not missing out on a chance to save. Consider this a friendly nudge to take control of your mortgage renewal process. Your future self will thank you. Ready to get the best deal for your home? Let’s talk. 🏠💬

04/13/2024

What’s the minimum down payment required?
Here’s the quick breakdown:
🔑 For homes priced under $500k, the magic number is 5% of the purchase price.
🔑 Between $500k and $1M? It’s 5% on the first $500k, then 10% on the remainder.
🔑 Over $1M? You’re looking at a minimum of 20%. (Potentially more depending on location, lender, and value)

Remember, the size of your down payment affects not just your mortgage amount, but also whether you’ll need Default Insurance (CMHC insurance). The more you put down, the less your insurance premium could be, saving you money in the long run. 📉💰

Ready to take the first step towards homeownership, but not sure where to start? Let’s chat about making your home ownership dreams a reality, one step at a time. 🗝️✨

04/08/2024

Do you ever get overwhelmed with all the different types of insurance? Especially when they are all just referred to as "insurance" with no other description. There are four important types of insurance when it comes to mortgages. Swipe to learn the differences.

03/31/2024

Turning the dream of homeownership into a stress-free reality, one happy client at a time! 🏡✨ Grateful for the kind words and trust.

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Address

Burnaby, BC

Telephone

+17789888409

Website

http://lyonmtg.com/

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