Stew Bell - Mortgage Specialist fsco#10500

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London, ON
Stew Bell - Mortgage Specialist fsco#10500

Purchases -
Refinance -
Vacation Properties -
Debt Consolidation

05/05/2023

Establishing a budget is crucial when buying a property for the first time. 🏡

To ensure that you are ready to make a wise, educated decision, take into account the costs listed below:

1. Down payment
2. The recurring mortgage payment
3. Charges for utilities, upkeep and repairs, and, if applicable, HOA dues.

Get in touch with Stew today to find out more about how you can best be ready for a new home purchase! 🏡💰

📧: [email protected]

MORTGAGE SPECIALIST | HOME OWNERSHIP | BUY A HOME | MORTGAGES

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Let’s start your story 🏡 Contact Stew today to get your mortgage options solidified!📧: stew@themortgagestore.ca••• ...

04/27/2023

Let’s start your story 🏡

Contact Stew today to get your mortgage options solidified!

📧: [email protected]

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Let’s find out!! Email Stew today and let’s work together to get the financials for that dream home of yours! 🏠 📧: stew@...

03/27/2023

Let’s find out!!

Email Stew today and let’s work together to get the financials for that dream home of yours! 🏠

📧: [email protected]

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03/17/2023

Reverse mortgages have NEVER been this popular in Canada. 😮

Inquiries about them have doubled between 2016 and 2017, according to HomeEquity Bank’s CHIP Reverse Mortgage, which was, for a time, the only financial
institution to offer them nationwide.

And as a wave of baby boomers crosses the work-life finish line, competition to serve those who are feeling house-rich and cash-poor is heating up.

Equitable Bank became a second option for retirees looking for a reverse mortgage in January when it announced its PATH Home Plan, which is available through mortgage brokers in
Alberta, British Columbia and Ontario.

The basic idea of a reverse mortgage is simple.

Instead of making payments to build up equity in your home, as you would with a traditional mortgage, you draw down on your home equity and receive payments. You can opt for a lump-sum loan or get a certain amount of cash at regular intervals.

To look into this & see if it’s a good fit for your needs, contact me today!

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03/15/2023

Credit scores are designed to predict the likelihood that individuals will pay their
bills as agreed

The main factors involved in calculating a credit score are:
Your payment history=35%
Your used credit vs. your available credit=30%
The length of your credit history=15%
Public records=10%
Number of inquiries into your credit file=10%

While your credit score is important, it is only ONE of SEVERAL pieces of information
an organization will use to determine your creditworthiness.

For example, a mortgage lender would want to know your income as well as other information in addition to your credit score before it makes a decision.

Get the facts you need to know in order to start shopping for you 🏡.

Contact Stew today! 📧

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03/13/2023

Purchasing a home is a major financial and life altering decision, so taking the necessary steps to prepare for a home purchase is critical. 🏡
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Tips to help you financially prepare to be a future homebuyer:
1. If you're planning to buy a home soon, you've probably already saved some money. Next, you should determine the amount of your down payment. You may benefit from putting down a larger deposit in competitive housing markets, but it doesn't always have to be 20% or higher.
2. You should not leave mortgage shopping until the last minute and risk losing your dream home to another bidder who already had financing in place. When purchasing your first home, mortgage pre-approval is a free and non-binding process that establishes you as a serious, qualified buyer.
3. Most prospective home buyers prioritize saving for a down payment. But setting aside money for unexpected home repairs and other emergencies is equally essential.
4. Consider getting pre-approved for a mortgage to determine how much you can afford. But when you do, keep in mind that the lender primarily uses math to determine the loan amount and does not account for YOUR comfort or preferences.
5. If you're getting close to making an offer on a house, start gathering the documents you'll need to verify your finances on the mortgage application. These may include paystubs, bank statements, and copies of your last two tax returns if you have freelance or self-employment income.
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THE BOTTOM LINE:
A house can be a significant financial asset and a place where you might want to grow a family. But make sure you are at a point where you can be a homeowner without being "house poor".

REACH OUT TODAY & LET'S PLAN FOR YOUR HOMEOWNERSHIP FUTURE.
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03/10/2023

A mortgage on your home will most likely be the most significant debt you will incur in your lifetime.

A commitment in which you will be obligated to pay for a considerable amount of time.

That said, when a borrower defaults on their loan and from their obligations in the mortgage agreement, the lender has two possible remedies.

1. Power of sale - The most frequently used remedy.
Pursuant to Ontario’s Mortgage Act upon a mortgage default the lender is entitled to determine that the mortgaged property in question should be sold to a third party. This remedy, if you will, is by far the least complicated and permits the lender to recoup the balance remaining. The lender however, must give the borrower written notice by registered mail 45 days after default. If there is equity in the property, the remaining balance will go to the borrower after
the mortgage balance and any other associated fees such as legal fees have been paid. If the sale does not cover the balance of what is owed, the borrower is still liable for the remaining balance.
This process can only be prevented by the borrower paying the arrears and the lenders legal fees or by payment of the remaining balance of the defaulted loan in its entirety.

2. Foreclosures- is a legal proceeding initiated by the lender to obtain the full legal title to the asset outlined in the mortgage agreement. If the value of the asset is less than what is owed, the lender cannot pursue the borrower for the remainder. Should there be equity in the property or proceeds remaining from a subsequent sale, the lender is under no obligation to account the borrower for the equity, or the proceeds.

Talk to a mortgage broker immediately if you are falling behind on your mortgage payments. They can probably help you avoid either of these scenarios....

03/08/2023

The Bank of Canada just announced it’s holding rates. 💰🏡

What does this mean for you?
✨if you’re a variable rate mortgage holder, your interest rate has not changed.
✨you probably won’t get as much grey hair this month

Lol

In all seriousness though, today was a good opportunity to take the URGENCY out of the equation, so you can have time to reflect on all of your mortgage options and make the BEST decision for YOU. 💰🏡

If you’re feeling confused or uncertain, contact me today to chat in more detail.

I’m always happy to just review and give guidance. 💰🏡

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03/06/2023

Refinancing your home to reduce debt can be a blessing.

Debt consolidation is taking a few (or many) debts and paying them off through a refinanced mortgage on your home.

Credit cards have ridiculously high interest rates compounding daily.

Car loans are designed to pay off the vehicle in 3 to 6 years.

A home mortgage can reduce the interest rate you are paying and spread the payout over a longer period of time, reducing the actual amount of the monthly payment.

Pre-payment options on mortgages allow you to put lump sums into the mortgage when things turn around and monthly payments are no longer a problem.

Contact Stew today to learn more!
(519) 757-7884 or email: [email protected]
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03/03/2023

Hello everyone! My name is Stew, and I am a licensed Mortgage Agent servicing SW Ontario.

I didn't fall into the mortgage career world, which is why I think I love it so much!

After attending the University of Western Ontario in the 1970’s I went to work for a family operated travelling carnival. The most fun business to be in. After 12 years I resigned my position as General Manager to purchase a 95 acre summer resort in
Buckhorn Ontario and raise my family. Galvin Bay Resort was recognized with a five star rating for the first time in 1997 and my family and I enjoyed great success until we sold it in 2011.

When my three children went out in the world, I was once again free to return to the same carnival company as Business Manager for another 12 years.

Making the transition to the mortgage business was an intentional process given my years of experience in business. Financing has always been my specialty and I am happy to offer my expertise to others so they can achieve their dreams.

At The Mortgage Store that's what we do...mortgages! I am here to help my clients get the funding they need – quickly, efficiently and friendly! I provide all clients with unparalleled customer service and the constant support they need to help them obtain the right mortgage product for their needs.

We are here to help with the following:

- First time home buyers
- Purchases
- Investment & Rental mortgages
- Second Homes
- Refinances
- Mortgage renewals and switches
- Home Equity Line of Credit
- Second Mortgages
- Private Funding

Let me assist you with the preparation for purchasing a house, including establishing down payment, credit repair, credit building, employment reviews, debt management, and more. Reach out today! 📧☎️
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01/24/2023

BDC has a program for start-up and small business owners. $50,000 over 5 years at 10%. Can be used for any purpose. Not difficult to qualify.
Call me at 519-757-7884 or email
[email protected]

Rates are coming down!Contact The Mortgage Storestew@themortgagestore.ca ...

01/12/2023

Rates are coming down!
Contact The Mortgage Store
[email protected]

Address

301 Wellington Road
London, ON

Website

http://www.mortgageweb.ca/StewBell

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