Ivan Gill - Mortgage Agent

Ivan Gill - Mortgage Agent I'am your trusted Mortgage Agent. You can count on me for your mortgage needs. FSRA # 13120.

Of course, everyone wants the lowest interest rate they can get, sometimes lower interest rates comes with restrictions,...
12/07/2021

Of course, everyone wants the lowest interest rate they can get, sometimes lower interest rates comes with restrictions, bigger penalties that are not in the client's best interest.

Have more questions? Call or text me at 519.240.2928

10/29/2021

Whether you’re taking on another mortgage or refinancing, how do you know if you can afford to make the new mortgage payment? There’s a ratio for that—it weighs your financial obligations against your income. No lender wants to see you get into too much debt, so they look at your debt servicing ratios to see just how much you can afford to borrow.

HOW ARE DEBT SERVICING RATIOS CALCULATED?
There are two ratios you need to worry about—gross debt servicing (GDS) and total debt servicing (TDS)

Gross debt servicing (GDS)
This is the maximum amount you can afford for shelter costs each month. It’s your monthly housing costs divided by your monthly income.

Total debt servicing (TDS)
This is the maximum amount you can afford for debt payments each month. It’s your monthly debt and housing costs divided by your monthly income.

If too much of your income is already going to housing costs and debt payments, according to your lender, you may not be able to afford to take on more debt.

07/02/2021

Better Option
Better Advice
Best Mortgage!

07/02/2021

Better Advice
Better Options
Best Mortgage!

Are you a frontline worker? As a thank you from my lender partner RFA, you may qualify for an exclusive rate discount & ...
06/18/2021

Are you a frontline worker? As a thank you from my lender partner RFA, you may qualify for an exclusive rate discount & cashback offer on your mortgage!

Eligible occupations: Police officers, Correctional services officers, physicians, RN's, RPN's, Border services, Firefighters, Paramedics.

P 519.240.2928
E [email protected]
www.ivangillmortgages.ca

*some conditions apply

Despite what you may have heard, your cell phone payment history does affect your credit score.Cell phone accounts work ...
06/14/2021

Despite what you may have heard, your cell phone payment history does affect your credit score.

Cell phone accounts work differently than a credit card or a line of credit. A cell phone is an open or “O” account, which means the balance has to be paid in full at the end of each month.

There is no such thing as a minimum payment with an “O” account like there is with credit cards and lines of credit. You can’t just pay a portion of your bill. The amount that you see on your statement has to be paid in full otherwise your credit score will suffer.

Unfortunately, many Canadians don’t view paying their cell phone bill in full or on time as being as important as other payments. Lenders disagree. The bank underwriters (the people who review your application) are thinking, “If you can’t make or keep track of a cell phone payment, what are the chances that you are going to be responsible with your mortgage payment?”

P 519.240.2928
E [email protected]
www.ivangillmortgages.ca

Address

489 Queen Street East, 4th Floor
Toronto, ON
M5C1S2

Telephone

+15192402928

Website

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