Cathy Bell Mortgage Agent

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Canada
Newmarket, ON
Cathy Bell Mortgage Agent

Serving the GTA & Surrounding Area
Concierge Mortgage Group Licence #12179
Happy to help with all your Mortgage Needs! Customer service is my specialty!

Visit my website to contact me anytime: cathybellmortgages.ca

03/26/2024

🏡 Ready to make your homeownership dreams a reality? 🌟 Buying a house is an exciting journey filled with endless possibilities! Whether it's your first home or your forever home, I’m here to guide you through every step of the process.

03/18/2024

For self-employed borrowers, I open doors, not build walls!

I have access to lenders specializing in self-employed borrowers. In fact, helping self-employed borrowers is one of my specialties!

03/12/2024

Approximately 1 in 3 buyers finance their home with a gifted down payment. When the down payment is gifted, the purchaser needs to provide the lender with the below information:

📌 Relationship to the individual giving the money
📌 The amount of money being gifted
📌 The property the money if gifted for
📌 A statement specifying the money is a gift and does not need to be repaid
📌 Contact information of the person giving the money
📌 The source the funds are coming from

Specific requirements may vary depending on the lender. Reach out and we will be able to assist and provide you with all the information.

03/04/2024

According to Statistic Canada, Canadians owe $1.82 in credit debt for every dollar of disposable household income. If you are struggling with high-interest debt, reach out. A solution like refinancing your mortgage to pay off high interest debt can potentially free up cash each month and help you get out of debt.

02/27/2024

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 more 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 I will help you determine your best personal strategies to prepare.

02/21/2024

Private mortgage lenders serve as an alternative funding source, usually for borrowers who are unable to secure traditional loans.

Borrowers may opt for private mortgage lenders due to the following reasons:

📌 Poor credit - Private lenders are more flexible than traditional lenders and willing to work with borrowers who have a low credit score or a history of missed payments.

📌 Self-employed or possess an irregular income - Private lenders can be more accommodating as they consider criteria such as the property's potential value.

📌 Individuals seeking short-term loans - Private lenders offer short repayment periods, making them a viable option for those anticipating the arrival of other funds, such as a bonus, inheritance, or proceeds from a house flip.

If you have any inquiries or believe that a private mortgage is a suitable solution for you, reach out for more information.

02/13/2024

Your credit score is a number between 300-900 that the credit bureaus calculate. In Canada, we have two credit bureaus, Equifax and TransUnion.

Your score indicates how responsible you are with credit and the likelihood you’ll repay it. Scores above 660 show you can manage credit well, and a lender should feel comfortable letting you borrow money at a competitive rate.

Below is a list of factors that impact your credit score:

📌 The length of time you’ve had credit
📌 If you carry a balance on your credit cards
📌 If you frequently miss payments
📌 How much debt you currently have
📌 How much credit you use out of the total amount available to you
📌 If you’ve ever filed for bankruptcy
📌 If any of your debts have ever been sent to collections

02/05/2024

It really depends on you and your families risk tolerance. If you cannot withstand a potential jump, a fixed rate is likely the smarter choice. A mortgage should be part of your financial plan and you should consider a number of personal factors, such as how long you plan to own the home.

If you take a long-term fixed rate and end up breaking the mortgage, the penalties could be very high. The best thing to do is to reach out and we will map out a few scenarios and outcomes. Then use that information to make an informed decision.

01/29/2024

Are you getting or renewing your mortgage this year? Uncertainty about interest rates continue to be top of mind for borrowers. Three strategies to help you limit your risk of uncertainty are:

1. Use multiple rate holds – Getting a rate hold early protects you from temporary increases before you sign off on your mortgage. If rates decline before your renewal, you can ask for another hold at the lower rate.

2. Choose a short-term fixed – If you need a new mortgage now but believe rates will fall in the future, you can lock into a one-year fixed. These types of rates are higher than a 5-year fixed but if rates do decline over the course of the year, paying more for a one-year fixed works out better than locking into a 5-year fixed.

3. Choose a hybrid mortgage – This lets you split your loan into two or more portions tied to variable as well as fixed rates.

01/23/2024

Refinancing means getting out of your current mortgage and replacing it with a new one. A minimum of 20% home equity is required to complete a refinance.

Since breaking your current mortgage comes with a fee, I can complete a personalized cost/benefit analysis so you can determine whether refinancing makes sense.

3 common reasons people refinance are:

1. Consolidate high-interest debt
2. Renovations
3. Access lowest-cost funds for a large expense

01/16/2024

As a mortgage broker, I have more products for you to choose from to best meet your needs, such as banks, private sources, independent lenders, etc. If you are in the market for a mortgage, reach out.

Whether you want to explore your options or get a second opinion, the lending options available could save you thousands!

01/03/2024

This year has been one for the books regarding your mortgage. You might have questions about whether your current mortgage is right for you. Maybe your situation has changed, or your mortgage is coming up for renewal in 2024.

Reach out and schedule your free Mortgage Check-up.

Address

16945 Leslie Street Unit #5
Newmarket, ON
L3Y9A2

Website

https://www.cathybellmortgages.ca/

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