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Randy von Heyking - Mortgage Agent

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Canada
Guelph, ON
Randy von Heyking - Mortgage Agent

I have the expertise for your immediate and future needs.

09/05/2023

Monthly mortgage payments are the most standard, and lenders use this common payment to calculate the amount you would pay on other schedules. But choosing another option can shave time off your mortgage and thousands from your interest costs. 💰💡

📌 Semi-monthly means you will divide your monthly mortgage payment in half and pay that amount twice a month. 📅✌️

📌 Biweekly means paying 26 payments yearly, once every 2 weeks. For 3 months each year (usually), you'll need to make 3 payments in a month. ⏰💰

📌 Biweekly Accelerated means you're paying 26 payments each year, with an extra monthly payment added into the calculation and spread out over the year's payments. For 3 months each year (usually), you'll need to make 3 payments in a month. On average, this payment method can take your amortization from 25 years to 22.5 years. ⚡️💸

📌 Weekly means you're paying 52 payments each year, which is once a week. 🗓️📆

📌 Weekly Accelerated means you're paying 52 payments each year with an extra monthly payment added into the calculation and spread out over the year's payments. On average, this payment method can take your amortization from 25 years to 22.5 years. ⚡️📆💸

08/28/2023

A rate hold is when you secure your interest rate for a period of time while you shop for a house. The next Bank of Canada interest rate announcement is September 6th. In the event rates rise, you can take advantage of the rate you locked in. If rates drop, you can still secure the lowest rate available for you when you are ready to buy.

08/22/2023

If you carry consumer debt on a line of credit or credit card, it may make sense to refinance your mortgage to pay off your high-interest debt.

Consolidating high-interest loans can potentially save you thousands plus free up more cash each month.

Reach out today for a free consultation.

08/17/2023

1. Energy-efficient Upgrades 🔋: Invest in energy-efficient appliances, smart thermostats, and LED lighting to lower your utility bills and reduce energy consumption. It’s a win-win for your wallet and the environment.

2. DIY and Home Maintenance 🛠️: Take on simple home maintenance tasks yourself, such as changing air filters, caulking windows, and landscaping. You can save on hiring professionals and keep your home in top shape by doing it yourself.

3. Bundle your services 💰: Consider bundling your home insurance, internet, and other services to take advantage of discounts and promotional offers. This can help you cut down on monthly expenses and keep more money in your pocket.

🏠 Implement these money-saving strategies to make your homeownership journey even more financially rewarding.

08/10/2023

With the Bank of Canada’s latest interest rate increase, many Canadians are having a hard time paying their mortgage. FCAC (The Financial Consumer Agency of Canada) has a guide for people paying their mortgage when experiencing financial difficulty.

If you find yourself in financial difficulty due to increased mortgage payments, reach out for advice. Some solutions could be extending your amortization; your lender may waive pre-payment penalties or offer you a mortgage deferral.

08/03/2023

If your mortgage is coming up for renewal this year, it is essential you reach out. About one-third of mortgage holders have already seen their rates increase, and the Bank of Canada forecasts that just about every borrower will experience the same in the next three years. Knowing this, you need options!

As a Mortgage Broker, I work with banks, credit unions, trust companies and lenders only available to brokers. One application gets you access to all!

07/25/2023

If your home will be owner-occupied, you need 5% down for the first $500,000 of the purchase price and 10% for any amount over $500,000 up to $999,999. If the purchase price is $1,000,000 or more, the minimum down payment is 20%.

According to CMHC’s Mortgage Consumer Survey, most homebuyers are accessing their savings or equity from a previous home for their down payment. Followed by RRSP savings and gifts from family members.

If you have any questions about the down payment options available to you and how to use them, send me a message. I will be happy to review your situation and discuss your homeownership goals.

07/18/2023

If you feel the impact of higher interest rates, a strategy to look at could be extending your amortization. Extending your amortization will stretch your mortgage repayment out, potentially lowering your monthly payment.

If you have any questions or want to look at a strategy like this for your mortgage, send me a message.

07/11/2023

We know that borrowing money is harder for self-employed Canadians, which is one of the reasons why working with a Mortgage Broker like myself, is so important.

I have access to lenders specializing in self-employed mortgages and understand business owners' challenges.

If you are self-employed and looking to buy, renew or refinance, reach out to start the conversation.

07/05/2023

Mortgage holders have seen their payments and rates aggressively spike over the past 15 months, which has caused a sense of uncertainty. Working with a Mortgage Broker like myself gives you access to advise, products, and rates you can’t get from your bank.

Whether you need to reset, restructure, or re-strategize, I am armed with solutions.

06/27/2023

If you are shopping for a mortgage, it is essential to know what you need to qualify, but it is also important to understand what could be holding you back from qualifying for a mortgage. Below are 5 points that could be impacting your chances of being approved for a mortgage:

📌 Carrying too much debt
📌 Poor credit history or not enough credit history
📌 Not enough income or assets
📌 Not enough of a down payment
📌 Unstable employment history

If you feel any of the above points could be holding you back from getting approved for a mortgage, reach out. I am armed with solutions for every situation.

06/19/2023

If your mortgage is coming up for renewal this year, reach out and let’s start the conversation.

We are in a high-interest rate environment, and many customers feel stuck with their current lender at renewal. Whether it’s transferring to a different lender for a better rate, exploring new mortgage products that let you access your equity to help with payments, or opting for a shorter term, I am armed with solutions.

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Guelph, ON

Telephone

+15197660880

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