Vogue Mortgages

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Canada
Richmond Hill, ON
Vogue Mortgages

Hi! My name is Fatema Railey and I'm a wifey + mama of 2, mortgage agent and fashion lover!

10/26/2022

Well, no surprise here! Bank of Canada announced an increase of 0.50% to the overnight lending rate this morning.

If you’re in an adjustable rate mortgage, you can expect to see your monthly payments increase by roughly $30 for every $100K in outstanding mortgage balance.

Want to understand how this impacts you specifically? Feel free to DM me and I’d be happy to chat.

01/26/2022

Great news! The Bank of Canada decided to maintain its overnight lending rate!

If you’re a variable rate mortgage holder - that means no changes to your monthly mortgage payments 🎉

Please don’t hesitate to reach out if you have any questions about what this means for you.

01/04/2022

Welcome 2022!

What an interesting year 2021 was. Although it was turbulent, I'm incredibly grateful for having had the opportunity to work with numerous clients to help them achieve their home ownership and financial goals.

It doesn't look like anything is going to slow down this red-hot housing market in 2022. If you've set out to achieve any real estate goals this year - let's make it happen. Always remember to talk to a mortgage agent first - good thing you know one ;)

#2022

06/01/2021

Have you heard!?

As of today, the mortgage stress test has gone up! If you're unaware, the stress test is the government's way of ensuring you can afford your mortgage even if interest rates fluctuate. Lenders will "qualify" you at a higher rate, even though your actual mortgage interest rate will be lower.

The rate increased from 4.79% to 5.25% for all types of mortgages. Regardless of whether you're putting more or less than 20% - the new stress test applies to you.

In our simple example, you'll notice the new rate will have an impact on your purchasing power. On average, expect to qualify for 4% less than what you would have under the old rate.

Got a question? Don't hesitate to reach out!

05/11/2021

Your credit score is one of the most important factors in obtaining a mortgage. It allows prospective lenders to understand how responsible you are with your debt obligations as well as the different types of credit products you have available to you.

A higher credit score will also increase the number of mortgage products available to you.

Now, if life happens, and you end up with a less than optimal credit score while searching for a home, there are still options available for you. There are lenders that have mortgage products available to individuals with bruised credit - and these products work not only to help you achieve home ownership, but they help rebuild your credit over the duration of the mortgage term.

Got a question? Don't hesitate to reach out!

05/07/2021

Hi Everyone,

My name is Fatema Railey, and I’m a Mortgage Agent in Ontario.

Real estate has been a long time passion of mine. For context, Mo and I have moved 5 times in the last 8 years, and each time we moved was for a different reason. Through those moves, we’ve bought homes, we’ve rented and everything in-between!

When we were buying homes, especially our first, both Mo and I found the mortgage process overwhelming. We purchased our first home, and worked with a mortgage broker to facilitate the process. If you’ve ever applied for a mortgage, it feels a lot like submitting an application into a black box, crossing your fingers and hoping you receive an approval.

I became a mortgage agent to change that.

I have a genuine drive and passion for both real estate and helping people. My focus has always been on education and service above everything else.

Mortgages don’t have to be scary, overwhelming or intimidating.

If you’re looking for a home, wanting to refinance your current mortgage or just wanting to learn more about the real estate/mortgage space - don’t hesitate to reach out. Always happy to chat!

05/04/2021

Did you know lenders offer different mortgage products designed specifically for investment properties? These products all you to purchase a rental property and utilize your potential rental earnings as part of helping you qualify for the property.

Interested in learning more? Don't hesitate to reach out!

05/03/2021

For anyone who knows me, you know I absolutely LOVE food. What better way to kick off and celebrate our first giveaway than with a Foodi Grill!

It also doesn't hurt that is right around the corner ;)

If you're interested in winning this amazing grill, follow the instructions below:

1. Like the post!
2. Follow
3. In the comments, tag 3 friends and tell me the first thing you'd make in the Grill if you win!

The giveaway will be running until midnight EST on Wednesday, May 5th. A winner will be chosen and announced on Thursday, May 6th @ Noon EST.

NOTE: Open to North America only!

04/27/2021

Moving forward, I'll post a quick mortgage tip or term every Tuesday for everyone to learn! This is an opportunity for all of us to stay informed and make better decisions when it comes to your mortgage.

Got a question? Don't hesitate to reach out.

04/22/2021

Bank of Canada Rate Update

Last year, the Bank of Canada indicated it had no plans to increase the overnight lending rate for a "long time" (at least until 2023). That stance changed yesterday.

Based on projections, the BoC now expects a rate hike to occur during the second half of 2022.

What does this mean for you?

If you currently have a variable rate, keep a close eye on BoC updates as rate hikes will have a direct impact on your mortgage; specifically, your monthly mortgage payments. Some lenders give you the option to "lock-in" during your term, so it might be a good idea depending on how rates change.

If you're currently shopping for a home, be sure to take advantage of the low rates as well the current stress test before the new proposed change is implemented (if approved).

Got a question? Don't hesitate to reach out!

04/19/2021

Pre-payment privileges allows you to made advance payments on your mortgage without paying a penalty. When signing your mortgage documents, you'll notice your agreement indicate a percentage that is carved out to allow for pre-payments on your mortgage - this can typically range from 5-20% of your outstanding balance.

It's a great way to pay down your mortgage faster if you have the extra capital, without having to break your mortgage and incur a penalty.

Got a question? Don't hesitate to reach out.

Address

Richmond Hill, ON

Telephone

+14168038327

Website

http://www.voguemortgages.com/

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