Stephanie Afseth - Mortgage Associate, OneSt Mortgage

07/19/2022

Saskatchewan is still growing!

The province continues to be an economic head in Canada, minister says

07/15/2022

Fun Fact Friday!

Today marks my 11 year wedding anniversary with this stud 😍, and we have been together for 16 years. Happy anniversary my Love 💖

07/05/2022

Do you have brick pavers in your yard? Check out these tips for cleaning them up so they look brand new again!

Read More: https://bit.ly/3xyv4wt

A bit of elbow grease can keep your patio or garden path looking new.

07/01/2022

Happy Canada Day my fellow Cancucks! 🇨🇦 Lets turn today into Fun Fact Friday as well 🇨🇦

Did you know the national anthem was originally written in French in 1880, and an English version not translated/written until 1906? Many English versions were created afterwards, with Robert Stanley Weir's version in 1908 gaining the most popularity, and serving as the basis for the official lyrics we know today.

06/29/2022

This is me, sending out all my good vibes for great weather on this upcoming long weekend.

06/27/2022

Mobile/modular homes can be a great way to start your home owner journey. There are some stipulations in order to be eligible for a mortgage with many lenders:
◾must be on owned land
◾structure no older than 1995
◾must be hooked up to municipal water and sewer, or have an acceptable private well
◾have the correct CSA sticker certificate
◾permanently affixed to the lot (a foundation)

Each lender has specific guidelines to follow, so if you are interested in this type of home, make sure to speak with your broker.
There are lenders, such as local credit unions, that have more lenient guidelines on mobile homes. My job is not to tell you what type of home to purchase, so if there is a situation I can't help with, know that I can refer you to someone who can.

Read more about 1 person's journey about buying a mobile home: https://bit.ly/38T7Mt7

Buying a mobile home and moving into a community in Calgary has made Stephan Gardner’s life measurably better, especially from a financial perspective. But don't call it a trailer park, says one advocate.

06/24/2022

Fun Fact Friday - home edition!

Brass doorknobs will typically disinfect themselves in about eight hours. This is because the metal ions in brass and copper are actually toxic to mold, viruses, and other living things.

While I don't enjoy the come-back of brass, at least it has some benefits!

06/21/2022

There has been a lot of talk that Prime Rate is going to increase again at the next Bank of Canada meeting on July 13th. This time, it could be as much as 0.75%, which would take Prime to 4.45%. I can already hear the panic in the room.

Lets go back in time to put some of this into perspective. In late 2019, Prime Rate was at 3.95%, which is a normal rate and still higher than what it is today (its currently 3.70%). In 2007, Prime was as high as 6.25%.

No one panicked about mortgage rates in 2007, and there was even less panic in 2019. We have become so accustom to drastically low rates over the last 2 years, the "sticker shock" of rates going back up to a normal range is starting to set in for a lot of people.

We always knew that Prime Rate would not stay at 2.45% forever. As a person with a variable rate mortgage (actually, several of them), am I concerned? Not overly.

I go into a variable rate mortgage for the product flexibility, fully knowing that my payments are going to change over the course of the mortgage. Does it suck a little? 100% yes. Am I going to lock into a fixed rate? Absolutely not! When the Prime Rate come back down, so will my payments. If I locked in at today's rates, many of which are close to or over 5% now, there would be no savings anywhere, and no flexibility.

In the long run, its 100% up to each and every one of you on what you do with your mortgage. If you are constantly thinking about your mortgage payments, maybe its time for you to lock in. I'm not here to judge, make your decisions, or sway you in any particular direction. I just want to give you as much information as I can to help you decide what is best for you.

Want to talk about your options? Call or text me at 306-280-9207 and I'd be happy to chat.

06/19/2022

To all the dads, fathers, grandpas, uncles, 2nd parents, and father-like figures out there...

Thank you 💞

Thank you for being there when we needed you, and watching over us when we thought we didn't. You care for us and offer guidance, shaping us into the people we are today. Though some of you may no longer be walking beside us, know that we always think of you.

06/16/2022

We all know the market is HOT HOT HOT. This leads to overall home values typically being high. There are many instances where an appraisal is needed on the home prior to final lender approval. But what happens when the appraised value comes in lower than the purchase price??
In a nut shell, you have to come up with the extra funds above the appraised value if you want to finalize your purchase.
Check out this article for the low down on different scenarios and how they can be affected by a lower appraisal: https://bit.ly/3miuzRZ

For the past two years, appraisal valuations have rarely fallen short.

06/14/2022

Are you looking for a mortgage? When looking at a borrower, lenders will do a quick rundown of the 5 C's of credit to make sure you are a good fit for them. You don't want to have any red flags 🚩🚩 that might have a lender turn away from you.

#1 - Character
This refers to you as a person and your overall trustworthiness, personality and credibility. Remember - if you can Google yourself, so can a lender 🤔

#2 - Capacity
This is your ability to repay the loan. Does your income support the mortgage you are requesting, vs other financial commitments you already have?

#3 - Capital
This is your level of commitment to the loan. In other words, your down payment. Do you have your own saved funds?

#4 - Collateral
An asset that you are securing against the loan. In a mortgage transaction, this would be your home.

#5 - Credit
Lastly, your credit score comes into play. If you are looking for the best rates, you will need to make sure your credit is well managed, showing a neat and tidy history.