Remax sarnia realty inc., Brokerage
1319 Exmouth St. Sarnia,
ON, N7S 3Y1

Ryan Gervais

Ryan is a full time Sales Representative with Re/max and look forward to being your guide to the Sarnia Real Estate market

VIDEO – Getting Pre-Approved for a Mortgage

no Comments In Mortgage Real Estate

Mortgage pre-approvals are a very important step in the home buying process. Below is a great video that will explain the most important steps when buying a home. Being pre-approved will help you negotiate a better price and fulfill your conditions more quickly.

The other advantage of a pre-approval is when there are multiple offers on a property. The Seller will sometimes ask for the per-approval before any offers are accepted. If you do not have the complete paperwork you risk losing out on the house of your dreams.

When it comes to the mortgage rate you are receiving you should also ask the mortgage person to lock in your rate for 90 - 120 days. This gives you the peace of mind that if mortgage rates rise you are locked in at the time of the pre-approval. It could save you thousands of dollars especially as rates start to creep up.

All bankers are not equal. B...

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Canada’s Mortgage Rules Tightening

no Comments In Mortgage

Thinking of buying or selling?  Think again, the mortgage rules are tightening across the country. Minister Flaherty stated the single most important reason for tightening was the debt to household income at 153%. The changes include:

  • Maximum amortization period for government-backed insured mortgages are reduced to 25 year amortization
  • Refinances lowered to 80%
  • Total debt servicing reduced to 44%

These are just some of the changes impacting your buying and selling decision. In other Announcements the regulating body for banks in Canada (OFSI) has reduced the Secured line of credit rates down to 65% Loan to Value and qualifying rates for mortgages. In these times of changing markets you have to talk with a knowledgeable mortgage specialist to guide you through these decisions.


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Purchase Plus Improvements

no Comments In Mortgage

Finding the right home is sometimes difficult; using a real estate professional always helps the buying process provide clarity.

So you found the right house, great location, close to family, the dream property in regards to your children’s school. But wait; there are old windows, tired floors, and an outdated bathroom. Is that dream property gone at the sight of increased expenses?

Maybe, but maybe not, let me introduce you to the Purchase Plus Improvements mortgage. The purchase plus improvements allows you to incorporate renovations into the purchase prices of the property up to 10% of the purchase price or $20,000 which ever is less. Its always recommended that you hire a professional to do your work to make sure the renovation is completed accurately and on time. Remember the house you purchase today or renovate is the house you maybe selling in the future.

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Mortgage Rates are Falling!

no Comments In Mortgage

With all the different mortgage products out there its always tough to figure what is the best product for you. Not sure what to choose? I will break down three great options.

Firstly a fixed mortgage will provide you and your family piece of mind with limited time offer rates as low as 2.99%. Now with the federal election in 4 years interest rates have historically been lower during an election year so you can take advantage of this by looking at 4 year mortgages vs the typical 5 years. This strategy is a more sophisticated rate timing philosophy.

Variable on the other hand has historically been the best option but times have changed with the variable rates are at 2.90%. The variable rate will provide you the opportunity to save money, but the key word here is opportunity. If you’re a risk taker variable rate mortgages are a great product. The problem we face now is ...

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