You worked hard for that equity. Maybe it’s time you make that equity work for you.

Refinancing your mortgage can be a great way to leverage equity in your home to balance debt, do renovations or to support kids going off to college.

Through refinancing you can tap into 80 per cent of the value of your home but are required to re-qualify under the current rates and rules.

Budget should always come first before you qualify or are approved!
My Mortgage Toolbox app can help you determine how much you can afford!
This handy calculator can help to determine your total cost of owning a home, the minimum down payment you would need, the maximum loan you can borrow, an estimation of closing costs and calculate the results of a stress test for your mortgage to ensure you are covered.

https://www.dlcapp.ca/app/mohamed-mahmoud?lang=en

Ask yourself these four questions to determine if you are ready to own a home:

1) Are you financially stable?

2) Do you have the financial management skills and discipline to handle this scale of purchase?

3) Are you aware of all costs and responsibilities as a home owner?

4) Are you ready to devote your time to regular home maintenance?

How long would it take for you to shop 90 stores to find the perfect couch?
Now ask that same question about your Mortgage.

Did you know?
A typical Mortgage Broker has access to over 90 lenders! This can be a real advantage to ensuring you, the client, receives the best Mortgage plan and rate to suit your needs!

If you’re self employed, that doesn’t mean you need to pay higher taxes to qualify for a Mortgage

There are special products for self employed that can save you more towards your bottom line.

Ask me how
647 901-7948
info@modomortgages.ca

Life happens. Protect your family and the family home to ensure that it will always be there, no matter what life deals you.

This is an optional term insurance which ensures that if there are multiple borrowers, and one passes away, the remaining mortgage will be covered and paid out.

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Your home is a source of savings.
Every dollar you save now better protects your future and your kids. Smart Mortgage financing and home equity use will make this a not-so-distant future!

Cancelling healthy, active cards or accounts hurts more as the payment history is lost.

The average Canadian has 10 credit sources. As long as they are paid on time and the balance remains below 30% of the available limit, it is contributing positively to your score.

You were told that your minimum down payment was 5%. You have that.
However, did you know that you are also required to show that you have an additional 1.5% of the purchase price saved to cover closing costs such as:

1) Legal fees
2) Land Transfer Tax
3) Appraisal
4) Inspection
5) Title Insurance
6) PST (Provincial Sales Tax) on Default Insurance Premium
7) Final Adjustments

Did you know?
Making a double mortgage payment once per year can shave over four years off the mortgage?
Ensure you get the best prepayment privileges.
It’s your mortgage so you deserve to double your payment without penalty! Doubling up your payment on average will save many years off your mortgage for 5 figure savings.
The My Mortgage Toolbox app can show you how
https://www.dlcapp.ca/app/mohamed-mahmoud?lang=en