Tracy Vasconcelos, DLC Motivva Mortgages

02/16/2022

Happy Wednesday my friends!!

With a Bank of Canada benchmark rate increase seemingly inevitable in its next announcement (March 02). You as a homeowners maybe thinking of reassessing your options and pondering a possible refinance.

✅ One option noted in this article is you could go down to a 1% [variable] and basically buy yourself three or four Bank of Canada increases before you’re actually back to the same place.

Give me a call ☎️ 647-616-8773..let's discuss some options.

Bank of Canada rate hikes are imminent – and mortgage holders are rushing to avail of last-minute low rates

02/09/2022

Staying out of the penalty box.

First and foremost, the most important thing to remember is that a mortgage is a contract. That means that there is a penalty involved if the contract is ever broken. This is something that every homeowner agrees to when you sign mortgage paperwork, but it can be easy to forget – until you’re paying the price.

Why break your mortgage?

You’re probably wondering why you would ever break your mortgage contract? Well, you might be surprised to find out that 6 out of 10 mortgages in Canada are broken within 3 years and there are typically nine common reasons that this happens:

✔Sale and purchase of a new home
✔To utilize equity
✔To pay off debt
✔Cohabitation, marriage and/or children
✔Divorce or separation
✔Major life events (illness, unemployment, death of a partner)
✔Removing someone from title
✔To get a lower interest rate
✔To pay off the mortgage

It is always important to think ahead when signing a mortgage agreement, but not everything can be planned for. In that event, it is important to understand the next steps if you do indeed need to break your mortgage.

If you are looking for more information and have questions about your current mortgage give me a call ☎ 647-616-8773. Give me a call lets discuss some options.

The most important thing to remember is that a mortgage is a contract. That means there is a penalty involved if the contract is ever broken.

02/08/2022

Happy Tuesday my friends!! Here is Bank of Canada schedule. Bank of Canada announces its decision for the overnight rate target eight times a year, typically on a Wednesday. The schedule for 2022 is as follows:

Looking for some options with your current mortgage rate or want to get pre-approved to syart shopping with confidence.
Feel free to give me a call let's talk about it!🙋‍♀️ ☎️647-616-8773

02/07/2022

Happy Monday my friends! Hope you have an amazing day

01/31/2022

Happy Monday my friends! 🙋🏾‍♀️
"Your Monday morning thoughts set the tone for your whole week. See yourself getting stronger, and living a fulfilling, happier and healthier life.”

07/12/2021

CALLING ALL OUR FRIENDS, FAMILY, NEIGHBOURS, AND COMMUNITY ! PLEASE JOIN US!

✅Sunday July 18th from 12 pm- 6pm - 17 Knotty Pine Drive Whitby Ontario. ✅

👉We will be hosting a "Drive by and Drop off" FOOD DRIVE campaign in an effort to support our community and those who need us!!
👉 100% of proceeds and all food donations will go to FEED THE NEED DURHAM "RESPONDING TO HUNGER" campaign.

I invite the community at large to celebrate our solidarity as part of the “ALL IN” this together response to hunger. This campaign is not just about how we feed those who face hunger in our community, it is about recognizing and celebrating how we stand up as a community for the most vulnerable.

ALSO, IF YOU CANT MAKE IT THIS DAY, PLEASE INBOX ME or CALL ME AT 647-616-8773. I WILL BE HAPPY TO PICK UP OR ACCEPT DROP OFF ON ANOTHER DAY.

PLEASE PLEASE SHARE THIS POST, We are STRONGER TOGETHER!
Feed the Need in Durham

05/05/2021

Good morning my friends. “Breathe fresh air, be around positive people, spend sometime alone for well being of yourself.” ― Umang Panchal

04/13/2021

Good Morning My Friends!!

5 common mistakes Canadians make with their mortgages - Part 2 of 5

Ask any mortgage broker and they’ll tell you that the question they’re asked most frequently is: “What’s your lowest rate?”

❌Mistake 2: Blinded by the rate

The interest rate you’ll pay on your mortgage is a massive consideration, so comparing the rates lenders are offering is a good habit once you’ve slipped on your house-hunter hat.
Rates have been on the rise lately given government actions to stimulate the Canadian economy. You may want to lock a low rate now, so you can hold onto it for up to 120 days.

Many borrowers get obsessed with finding the lowest rate and ignore the other aspects of a mortgage that can greatly impact its overall cost.

“I always ask my clients ‘Do you want to get the best rate, or do you want to save the most money?’ because those two things are not always synonymous,” This will open up a conversation about needs and wants.

Many of the rock-bottom interest rates on offer from Canadian lenders can be hard to qualify for, come with limited features, or cost borrowers “a ton” of money if they break their terms.

If you want to discuss rates and options please give me a call 😊
☎ 647-616-8776
5 common mistakes Canadians make with their mortgages

04/12/2021

Good Morning My Friends,

Over the next 5 days I am going to share some knowledge with you about 5 most common mistakes that Canadians make with their mortgages.

❌ MISTAKE NO. 1: NOT HAVING DOCUMENTS READY

One of your mortgage broker’s primary functions is to provide lenders with paperwork confirming your income, assets, source of down payment and overall reliability as a borrower. Without complete and accurate documentation, no reputable lender will be able to process your loan.

Some of the most frequent mistakes:

🔴 Not including a name or other relevant details on key pieces of information.
🔴 Providing old bank or pay statements instead of those dated within the last 30 days.
🔴 Sending only a partial document package. If a lender asks for six pages to support your loan, don’t send two. If you’re asked for four months’ worth of bank statements, don’t provide only one.
🔴 Thinking low-quality or blurry files sent by email or text will be good enough. Lenders need to be able to read what you send them.

REMEMBER: If you send your broker an incomplete documents package, the result is inevitable: Your mortgage application will be delayed as long as it takes for you to find the required materials, and your house shopping could be sidetracked for months.

If you are looking to purchase a new home, renovate your current home or refinance to pay out some debt. Give me a call lets discuss some options. 🙋‍♀️

☎ 647-616-8773

04/05/2021

Get pre-approved! It is worth it.

To have the best success with your mortgage, it is recommended that you get pre-approved! This can be done through your Mortgage Professional to ensure that you get the best mortgage product FOR YOU, from the best rate to the best term agreement.

While getting pre-approved might sound boring (and you might be asking ‘why can’t I just get approved instead!?’) there are actually a host of benefits which will make searching for your perfect home that much easier.

Pre-approval helps verify your budget and allows your real estate agent to find the best home in your price range. Quick Tip: Don’t forget about the closing costs! These range from 1 to 4% of the purchase price and should be factored into your budget.
Pre-approval guarantees the rate offered and locks it in for up to 120 days. This protects you from any increases in interest rates while you are shopping (phew!). Make sure to ask exactly how long your pre-approval is good for!
Pre-approval lets the seller know that securing financing should not be an issue, which is beneficial in competitive markets!

Looking to get Pre Approved? Give me a call let's talk about your options. 🙋‍♀️ ☎ 647-616-8773

04/04/2021

Happy Easter my friends! “Let everything you do be done in love.”- 1 Corinthians 16:14

02/22/2021

Do you have questions about your financial situation? Looking to clear out some debt and free up some cash, get a better rate, or simply just have some questions regarding your current financial situation. I can help. Call me today 647-616-8773 ☎ or DM me to book a virtual appointment! 🙋‍♀️