Kim Cormier - Mortgage Agent

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Canada
Kingston, ON
Kim Cormier - Mortgage Agent

A team of the Kingston Mortgage Solutions brokerage - FSRA Lic. #12248
Franchise of Mortgage Alliance

10/31/2023

If your mortgage is coming up for renewal this year, don’t panic. Reach out to explore your options. I have access to over 60 lenders and will be able to run your numbers to see what term is best for you. Plus, my services are free!

10/24/2023

If you currently have consumer debt on a line of credit or credit card, it may be beneficial for you to consider refinancing your mortgage to pay off this high-interest debt.

By consolidating your high-interest loans, you have the potential to save thousands of dollars and increase your available cash each month. It's worth exploring this option to improve your financial situation.

10/11/2023

Reach out to discuss a rate hold. A rate hold is when you secure your interest rate for a period of time while you shop for a house or renegotiate your mortgage.

The next Bank of Canada interest rate announcement is October 25th. In the event rates rise, you can take advantage of the rate you locked in.

10/05/2023

If your mortgage is coming up for renewal, you must prepare for higher rates. It is not about panicking; it’s about being prudent. Here are three strategies you can implement to get ready:

1. Take advantage of your prepayment privileges and increase your payment amount. You’ll pay down more principal and be accustomed to paying a higher amount at renewal.

2. Watch your bad debt. Be cautious about any credit card or high-interest debt.

3. If you are considering moving to a new home, get a pre-approval to protect you while shopping around. Consider not borrowing the maximum amount your lender will allow.

The best thing to do is get advice early. Reach out, and let's determine your best personal strategies to prepare.

09/26/2023

There are so many reasons to get your mortgage with me over your Bank! When you have a choice, you can be confident you got the best rate and mortgage for your situation. Professional advice is also crucial in today's changing marketplace, as is convenience and getting solutions when needed.

1. Choice. Get access to numerous lenders, including major banks.
2. Professional Advice. Make an informed decision and save money.
3. Solutions. If you don’t qualify for a Bank mortgage, we can help.
4. Convenience. Everything can be managed around your busy schedule.
5. Great Rates!

09/20/2023

Here are three benefits to buying in today’s market;

1. Higher rates mean less competition, giving you more buying power.
2. Prices are finally starting to come down after record-setting years, making buying more affordable.
3. Rates will go back down, and when they do, those who got in the market today will be able to restructure their mortgage and save on interest in the long run.

If you are thinking about buying or have questions, reach out for free, unbiased advice you can trust.

09/12/2023

Mortgage rates can be misleading. The lowest rates are not always available and may not apply to situations such as conventional mortgages, refinances, 30-year amortizations, or rental properties.

Online rate advertisements often dangle enticing rates, but upon closer examination of the fine print, many individuals may discover that they do not actually meet the qualifications for those rates. Plus, these advertisements frequently come with restrictions that could prove costly for homeowners in the long term.

If you come across an online rate advertisement, it's essential to do your research. However, it is equally important to contact me for a discussion. As your Mortgage Broker, my role is to comprehend your unique circumstances and advocate for your best interests.

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. ⚡️📆💸

08/29/2023

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.

08/23/2023

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.

08/16/2023

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.

08/09/2023

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.

Address

200-654 Norris Court
Kingston, ON

Website

http://www.bydesignmortgages.com/

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