Nick Pyette - Mortgage Agent

06/15/2021

A refinance can provide downpayment funds if you already own a home and are looking to purchase a second property as a summer home or an investment.

Accessing the equity in your home is often cheaper than using a line of credit with a higher interest rate and faster than accumulating personal savings.

06/10/2021

If you have been saving your downpayment through a percentage of your pay and have let it accumulate then this is often the easiest way to verify your downpayment. You can provide the 90 day history of the funds without having to account for outside sources, just your pay.

Often there are more moving parts but for those looking to build a downpayment fund, having some money set aside to grow in that account is going to be the most straight forward way. Additionally, it is very fast and easy to access your funds without moving it around much. Just a draft to the lawyers shortly before close.

06/08/2021

With the rising cost of homes, a downpayment is often be a large factor in considering how your mortgage will be structured and afforded. With a series of short posts I will share what are the solutions to producing the funds needed for a verifiable downpayment. What paperwork we typically need depending on the source and the difference between putting 20% down or more versus putting less.

This may seem dry but is often the most screened part of the mortgage process in the underwriting stage. It is very important to have your downpayment plan sorted when planning a home.

02/18/2021

When your mortgage is coming to an end, it may seem like the simple choice is to renew your mortgage. However, having the option to refinance and move into a mortgage that will better fit your lifestyle will save you money and stress.

Want to fix up areas of your home?

Are you looking to sell in the next couple of years?

Are you taking out the equity in your home to invest?

My goal to provide you with solutions to make your life easier. By showing you the potential benefits you can have by looking over your options.

*Disclaimer* Everyone can have different situations regarding income, credit, and time left on their mortgage. Reach out to discuss your specific situation and if refinancing makes sense for you.💰😁👍

# ldnont

02/02/2021

If you already own a home and are in a situation where other forms of debt are piling up, a refinance can be very useful. Using the equity in your home, you can do a cash-out refinance and use that extra money to pay off other debts.

With current rates, you will be paying less interest than credit cards, lines of credit, or other high-interest consumer loans. Just another option that a refinance can provide!💵💳🚗



EASY ONLINE APP⤵️
nickpyette.com
CELL📲519-777-6252

*Disclaimer* Everyone can have different situations regarding income, credit, and time left on their mortgage. Reach out to discuss your specific situation and if refinancing makes sense for you.

# ldnont

01/29/2021

Sometimes it's as simple as your rate is out of date! By refinancing or switching your mortgage, you have the chance to save more money with lower rates. Plus, a new mortgage that can better suit your lifestyle and plans.

Upon renewal or a possible refinance, I will ensure that you have access to the best rate and product that suits your needs. So it always helps to check with a broker before you renew your current mortgage. 👍⭐



EASY ONLINE APP⤵️
nickpyette.com
CELL📲519-777-6252

*Disclaimer* Everyone can have different situations regarding income, credit, and time left on their mortgage. Reach out to me and I would be happy discuss your specific situation and see if refinancing makes sense for you.

# ldnont

01/25/2021

One of the significant benefits of a refinance is the ability to use your home's positive equity to pull cash out for the use of renovations. Not only can you finish your basement or renovate your kitchen, but with current rates, it will most likely be with a lower rate as well!

Considering a refinance can be a valuable tool for those looking to upgrade their house before a future sale or expand with a now larger family. 📈🏡👶🍼

*Disclaimer* Everyone can have different situations regarding income, credit, and time left on their mortgage. Reach out to me and I would be happy discuss your specific situation and see if refinancing makes sense for you.

# ldnont

01/21/2021

I will be doing a small series of posts showing some of the benefits of refinancing and switching your mortgage. There are options for those trying to save some extra money on monthly payments or those who want to use their homes now higher value to pull equity out for renovations or pay down other debts.

There are options with your mortgage, and it never hurts to make sure that you are being taken care of and that you are genuinely matching your mortgage with your needs!🤩✔️🎉

For more information on this please reach out and I am happy to answer any questions!



EASY ONLINE APP⤵️
nickpyette.com
CELL📲519-777-6252

# ldnont

01/14/2021

Your down payment is one of the key aspects to buying a home. If that Bitcoin or TSLA you bought is still not worth enough to buy a house in cash then check out these tips!📈💵

1. If you have less than 20% down then you have to pay a mortgage insurance premium added on to your monthly mortgage payments.

2. For a purchase price of $500,000 or less, the minimum down payment is 5%. When the purchase price is above $500,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion.

3. Lenders require a 90 day history showing where the down payment originated from and confirm it is in an account in your name. If any larger sums have come from another owned account then they require the same 90 day history.

4. Additional costs such as legal fees, Land Transfer Tax, and the tax on the mortgage insurance premium (if under 20% down) will need to be shown as well. These extra funds show you’re able to afford the closing costs that go along with buying a property, roughly around 1.5% of the purchase price.

For more information on this please reach out and I am happy to answer any questions!



EASY ONLINE APP⤵️
nickpyette.com
CELL📲519-777-6252

08/14/2020

Further easing of the stress test. Allowing for a little more room for homebuyers to be approved.

The bar at which the finances of mortgage borrowers gets tested has just been lowered, making it easier for would-be home buyers to reach.

07/24/2020

Very excited to be a part of this new partnership that will provide even better service to our clients!