Ben Moazzez - Mortgage Alchemist

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Canada
London, ON
Ben Moazzez - Mortgage Alchemist

Your former neighborhood mortgage agent, Level 1 in YXU, taking a sabbatical and not selling mortgages at this time. LIC 20001979
📞 519.694.5987 Hi - I'm Ben.

I'm your friendly neighbourhood mortgage agent. What does that mean? I am trained in hundreds of mortgage products from over different 50 lenders. I will dig through these options and offer solutions that are tailor-made for your situation, with the best rates and terms in the market. I do the shopping around for you, saving you the time and headaches trying to compare apples to oranges in this di

verse market. I have access to a variety of product lines, including the big banks, credit unions, alternative lending solutions and private lending and can assist with any property financing requirements from first time home buyers, investment properties, divorce financing, renewals, debt consolidation, commercial projects, pre-construction purchases and more! Our financial and homeownership goals change throughout our lifetime, your mortgage should change with them! I want to be your broker for life, building and executing your financial plan with options and adaptability along the way - whatever life throws at you. If you are ready to start your mortgage journey, I would love to hear from you! Ben Moazzez - Mortgage Alchemist
519-694-5987
Mortgage Architects
Brokerage Licence # 12728

12/16/2023

If a purchaser requires a mortgage loan to complete the transaction, a home appraisal is usually required to determine “fair market value” of the property. The purchaser may also be required to pay the fee for the appraisal.

12/15/2023

Keep in mind that you will likely be paying for a home inspection when purchasing.

Home inspection is an examination of the structure and mechanical systems to determine a home’s safety and makes the potential homebuyer aware of any repairs that may be needed.

12/14/2023

When negotiating the cost of the house you want to purchase, it is important to keep in mind that you will also be required to pay property tax.

Property tax is paid on privately owned property and is usually paid semi-annually or monthly. The amount is based on local tax rates and assessed property value.

12/13/2023

Remember, no two mortgages are the same. Make sure you’ve considered all the mortgage features in your decision, including cash back options, balloon payments and penalties.

WHETHER YOU USE A LICENSED MORTGAGE BROKER OR SHOP AROUND YOURSELF, YOU SHOULD ASK THE FOLLOWING QUESTIONS:

What type of mortgage is best for my needs? In particular:

- a fixed, variable or adjustable rate mortgage
- an open, closed or convertible mortgage

What mortgage features and options are best for my needs? For example:

- a short or long mortgage term
- a short or long amortization period
- frequent or less frequent mortgage payments (e.g., monthly versus biweekly payments)
- regular or accelerated payments
- the ability to make prepayments or lump sum payments (e.g., to pay an extra $200 each
month or an extra $2,000 per year)
- the option to transfer my mortgage to another home if I sell my home

Make sure you know what you can afford and how much of a down payment you have. My Mortgage Planner App is a good tool to make the most of comparing these features when you start shopping for a mortgage.

My Mortgage Planner is the new mobile app has what you need right at your fingertips to calculate everything about your mortgage and eliminate the stress. You can save all the scenarios /comparisons on your mobile device!
Download it here: https://www.maapp.ca/app/ben-moazzez

12/13/2023

When you and the seller come to an agreement on the price to be paid for the house, you must provide a deposit.

A deposit is an advance payment of part of your down payment and is paid at the time of signing the Agreement of Purchase of Sale, a legal document the buyer and seller approve detailing the price & terms of the transaction.

12/12/2023

Making the right investments could lead to savings in income tax.

Owning a property can be profitable.

If real estate investors own a rental property, they can claim a variety of tax deductions. These include:

-Deducting their rental expenses against rental income, including line-of-credit interest or mortgage interest.

-They can claim depreciation- capital cost allowance- of up to $20,000 in tax deductions.

If you are interested in investing in real estate, myself and our entire award-winning team are here to help.

Give me a call.

12/09/2023

Did you know I have access to lenders who have no minimum FICO score requirements for borrowers with fully qualified income?

I can also help SELF EMPLOYED borrowers with FICO scores as low as 550.

Access to mortgage is now easier than ever!

Please feel free to reach out, should you have any questions or want to learn more about lenders’ Lending Guidelines!

12/08/2023

To my Realtors & Real Estate Investors:

IN CASE YOU MISSED IT! We are offering a Rental Income Enhancement Solution:

We DO NOT ask for T1’s FOR PROOF OF RENTAL INCOME and we can use lease agreements or market rents. If lease agreement is less than appraised market rents, we will use the lower.

If the property being purchased is to be an Owner Occupied with a suite rental income then the rental income may now be qualified using the following approach:

-100% of rental income can be used (Beacon score of 680 or above is required)
-Subject property taxes and heat may be excluded!!!

For all Non-subject properties my lender uses their very unique rental worksheet used from just 1 all the way to 6 rental properties!!!

Please feel free to reach out, should you have any questions.

12/07/2023

Insured Mortgage Solutions:

Data from CMHC indicates that the percentage of Insured Mortgages in Canada is once again on the rise.

My lenders, beside CMHC use Sagen and Canada Guaranty (both Canadian-owned private mortgage insurers) as their Insured partners.

Having a better understanding of the options available to my clients is critical to them for their success in a challenging and competitive market.

Please feel free to reach out, should you have any questions.

12/05/2023

B Lenders are the perfect choice for anyone who was denied a mortgage by an A Lender. They’re also great for those who want more flexibility in their mortgage choices.

The reason why these alternative lenders are a great choice for mortgages is that they’re often more accommodating; such as accepting lower credit scores, and require a different documentation for income verification of self-employed and commission earners.

In many cases, those with credit issues or employment history that don’t fit traditional banks often turn to alternative mortgage lenders (B-Lenders). These lenders are usually the best solution for these individuals because they understand your situation.

Please reach out should you have any questions!
Ben Moazzez - Mortgage Alchemist
519-694-5987
Mortgage Architects
Brokerage License # 12728

12/02/2023

Why Are Alternative Mortgage Lenders Becoming Popular?

Some new federal mortgage laws in Canada forced traditional banks to cut back the size of mortgage loans. This limits the percentage a client can refinance their home to, putting extra pressure on certain clients.

In Canada, alternative mortgage lenders (B-lenders) aren’t governed the same way as normal banks. This is why they’re able to make certain exceptions.

Alternative lenders are becoming an important player in the ability to refinancing homes. While their rates might be a bit higher than normal banks, the flexible option maybe most important.
Please reach out should you have any questions!
Ben Moazzez - Mortgage Alchemist
519-694-5987
Mortgage Architects
Brokerage License # 12728

12/01/2023

What Are the Benefits of Working With B-lenders (Alternative Mortgage Lenders)?

Let’s take a look at a few of the benefits here.

1.) Simpler Qualification

Because alternative lenders use different criteria to look at your creditworthiness, so the process for approval is just simpler. It’s not as rigid as regular banks, which is a plus for self-employed workers and entrepreneurs.

2.) Better Loan Terms

Traditional banks might have relatively inflexible rules and terms, meaning some people aren’t going to get decent loan terms no matter what. Alternative lenders offer lower interest rates and better loan terms for their clients.

3.) Quicker Approval

Traditional banks usually have more bureaucracy and red tape that halts the mortgage approval process. Alternative lenders typically have quicker approval processes, meaning you can refinance your home faster.

4.) Funding Options

Major banks tend to complicate the process of applying for a mortgage. Alternative mortgage lenders are generally more flexible when applying for a mortgage. They usually offer more funding options. This means clients can explore different financial avenues for mortgage payments.

Please reach out should you have any questions!
Ben Moazzez - Mortgage Alchemist
519-694-5987
Mortgage Architects
Brokerage License # 12728

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London, ON

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http://www.mortgagealchemist.ca/

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