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Old 12-11-2015, 10:36 AM   #141
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MME has already posted it in his thread, but breaking news as of this morning as Finance Minister Bill Morneau announces a change in down payment requirements for home purchases > $500,000.

Any amount above 500k will require 10% on that, but 5% remains on the first 500k.

Not sure if anyone reads my thread anymore, but here's the link...

http://www.fin.gc.ca/n15/15-088-eng.asp

FAQ: http://www.fin.gc.ca/afc/faq/hdpmeh-mfperpc-eng.asp

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Old 01-06-2016, 04:03 PM   #142
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With household debt becoming even more of an issue in Canada, and specifically Alberta, now is a great time to look at doing some debt restructuring.

A simple debt consolidation can make HUGE difference both in long-term interest savings as well as monthly cash flow. I specialize in cash flow and debt management. Contact me if you'd like to discuss some different and unique strategies to alleviate some stresses you may have.
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Old 02-04-2016, 01:23 PM   #143
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Hi everyone,

I posted this in the off topic forum as well:

We (our company SmartCap) were recently nominated for the Canadian Mortgage Awards for the category of "Best Newcomer, Mortgage Broker Firm", and could really use your help. It really is humbling to be even nominated, and now we'd love to get into the top 3 finalists!

I assume most have seen my thread in the power ring that I am a mortgage broker, as I have been running that thread for a couple years now. I have taken big steps back since MME has come on board, and am fine with that.

It's important to note that I am a Flames fan first, and a participating member in this forum much more outside my power ring thread than I am in. I finally became a member of CP in 2010 after lurking all the way back to the '04 run I think it was.

The process takes less than 5 minutes, and here's how you can help:
1. Click the following link: http://kmiawards.ca/index.php/nominate?award_id=37
2. Enter your contact info (FYI - I highly doubt you will be contacted for any reason, as this is not an organization that sells anything)
3. Enter SmartCap's founders' info as follows:
Bryan Baker
Mortgage Broker
SmartCap Mortgage Professionals
587-350-0496
bryanbaker@mysmartcap.com
4. Reason for nomination: May need to get a little creative here, as I haven't provided all of you with mortgage services obviously. (Provided great info via social media, got you a great interest rate, taught a great mortgage strategy, helped you through process of home buying/being a first time buyer, answered your questions thoroughly, etc.)

I would love if you guys could help! Mods - if this is not OK, please feel free to delete.

Voting closes on February 12th. Thanks!!

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Old 03-07-2016, 12:56 PM   #144
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Quick tip:

With a lot of Albertan's worried about being laid off (including lots of CPers I can see), I have been doing some HELOCs for clients of mine should the worst case scenario come to fruition, before it actually does.

It has given my clients the peace of mind knowing they will have access to tax-free funds should the need arise, without having to look at selling their home they have come to love.

Feel free to contact me with any questions/inquiries.
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Old 04-19-2016, 01:01 PM   #145
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Bump. Some great promos being offered with various lenders, and various different products. PM for inquiries.
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Old 04-25-2016, 08:53 AM   #146
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Heads up!

Bond yield has been trending up over the past few days, increasing 14bps in just the last 4. Spread is down to 1.88 bps, so with investors looking for a spread of 2.25 and 2.00 minimum, we could see fixed rates going up in the near future.

I have seen a couple lenders already announce a rate increase of 5bps. If you're in the market for a purchase, or coming up for renewal/need a refinance, it may be a good idea to look at securing that right away if you're within 120 days.

http://www.marketwatch.com/investing...countryCode=bx
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Old 05-14-2016, 09:30 AM   #147
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BUMP!

We (SmartCap) were just announced as the winners for "Best Newcomer Brokerage" last night at the Canadian Mortgage Awards (CMAs).

We were honoured just by being recognized initially by our brokerage, but to then be nominated Nationally, and then to WIN? Unreal, and very humbling. Cliche? Yes, but it's the absolute truth.

Warm thanks to everyone here that voted for us, I really appreciate it. Here's a link to our Regional Manager accepting the award on our behalf, as neither Bryan or myself were able to make it out to Toronto due to prior engagements: (Hopefully the link is public and works.)

https://www.facebook.com/kellyneuber...63193085756039

Mortgage Broker News:
http://www.mortgagebrokernews.ca/new...ss-207372.aspx

I'll also upload the video we made for our award, which should be pretty funny and slightly embarrassing.

Thanks again CP!!
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Old 06-01-2016, 02:44 PM   #148
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Hi Everyone,

We are planning to host a pro-bono information night to help you “Start Summer Right”, on the evening of Tuesday, June 28th from 5:30-7:00. We will be presenting very powerful tools within the industry that are unfamiliar to most. When utilized properly, there is no better solution when it comes to paying down your mortgage years faster and saving thousands of dollars in unnecessary interest costs. We will be teaching strategies that the banks just don’t show their clients.

This information session is open to everyone, so please feel free to invite friends and family that may be of benefit. Our boardroom can host around 30 people, but if there is enough interest, we’d happily host additional sessions. There will also be an open mic at the end of the presentation, where guests can ask any questions about the product, or mortgage questions in general.

Please RSVP directly to me via email: gregmiller@mysmartcap.com or at 403-998-1490, or RSVP through our Facebook event page: https://www.facebook.com/events/179363472461455/. Don’t miss out on this event, for if you haven’t been shown these strategies by someone within SmartCap, then rest assured you haven’t been shown them at all. Refreshments will also be served!

Thanks, we’re really looking forward to this event!

Last edited by MillerTime GFG; 06-06-2016 at 09:45 AM. Reason: Date changed to the 28th.
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Old 06-09-2016, 10:05 AM   #149
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Self-employed and need a mortgage?

Most people are aware it's harder to obtain one these days, but aren't really sure what may be expected. Check out this video for some quick steps to help you prepare, and make sure to contact me for further advice:

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Old 06-13-2016, 12:15 PM   #150
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"Canada's banks sound the housing bubble alarm, finally"

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After years of pumping money into the country’s frothiest housing markets, Canada’s big banks are suddenly—and alarmingly—nervous about the debt-fuelled monster they’ve helped to create. In the span of a few days this week and last, several big-bank CEOs and chief economists let loose a flurry of warnings about surging home prices in Vancouver and Toronto, where it now costs an average of $1.5 million and $1.3 million, respectively, to buy a detached house. “We’re a little concerned about housing prices in the Greater Vancouver area and Toronto,” Brian Porter, CEO of Scotiabank, told Bloomberg TV shortly after the bank’s latest financial results were released.
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As a result, he added, Scotiabank “took our foot off the gas” when it came to selling new mortgages over the past six months. A few days later, Sherry Cooper, the chief economist at Dominion Lending Centres and the former chief economist at the Bank of Montreal, told Business News Network she was “very worried” about skyrocketing home prices in Vancouver and Toronto because “these things generally don’t end well.”
Really tough situation, as lenders don't want to miss out on these markets, but are cautious at the same time. It's difficult to curb this situation, as proposed solutions would be implemented cross-Canada, even in markets seeing a decline (ie. Calgary).

Interesting to see some of the names that are listing their properties in these markets - former Finance Minister Joe Oliver, and Scotia CEO Brian Porter.

http://www.canadianbusiness.com/econ...form=hootsuite
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Old 06-22-2016, 02:02 PM   #151
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Bump!

6 days until SmartCap's free information session. We'll be covering some very powerful strategies to get you debt free quicker and save you $$$!

Oh, and there will be pizza. I expect 2-3 CPers there for that reason alone.

Please PM me or RSVP on the Facebook event page: https://www.facebook.com/events/179363472461455/

Really looking forward to this event, and hope I can meet some CPers!
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Old 06-24-2016, 11:26 AM   #152
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I have recently partnered with a division of Cardel Homes - "Cardel Lifestyles". They will be doing the official sales launch tomorrow from 11:30-5:00, and I'll be on site providing info and answering any questions! Info on the building can be found here:
http://www.cardellifestyles.com/deve...ranston-ridge/

Gallery:
http://www.cardellifestyles.com/deve...ridge/gallery/

There are 4 different styles of units, ranging in starting price from $189,900-$284,900. These are some spectacular units at great price points. If I didn't have 4 children, I'd get one!

There are some great incentives to buying one of the units now, as they are set to be finished in about a years' time. There are also other buildings that do still have some availability should you require something earlier.

Would love to meet some CPers if you're out and about tomorrow. Come say hello! 1000 - 522 Cranford Drive SE.

Greg

Last edited by MillerTime GFG; 06-24-2016 at 03:36 PM. Reason: Not "proving" info, not "about and about". Tough Friday apparently.
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Old 06-28-2016, 10:35 AM   #153
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Last chance to register for our free info session tonight from 5:30-7:00. We're right near Deerfoot Casino.

First half will be learning some unique strategies to get you debt free quicker while saving money, and the second half will be an open mic session, for any and all mortgage/real estate related questions. Pizza and beverages will be served!

Hope to see some CPers there, PM me if you are attending, or RSVP on our Facebook event page: https://www.facebook.com/events/179363472461455/
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Old 07-05-2016, 10:08 AM   #154
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I have come across quite a few client applications recently where the client owns one or more rental property in addition to a primary residence, and their mortgages were structured in a very inefficient manor.

It baffles me that whomever put these mortgages in place for these clients didn't properly strategize for maximum financial gain. There are two major things to consider when owning or considering purchasing a rental property:

1. Are you cash-flowing as much as possible?
2. Are you taking maximum advantage of your rental property from a tax perspective?

There are some very powerful strategies that can be implemented to help answer both the above questions with a "YES". Fairly simple, yet very effective.

I'm happy to either book in free consultations or even have a quick phone/email/PM consultation. All it takes is a 5 minute discussion for me to tell whether you're setup properly. Also, please make sure to ask about my CP incentive.

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Old 07-19-2016, 10:26 AM   #155
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Recent survey done by CMP Magazine:

This is the homebuyer of the future:

This past June, Mortgage Professionals Canada published their survey results on the Next Generation of Homebuyers; adults under the age of 40 who don’t currently own a home but expect to own in the future. If you are planning on buying, or help a child get into homeownership, these results can be an interesting comparison to your own situation. Here are some of the key findings:

• 52% are under 30 years old, 48% aged 30 to 39
• 55% single, 39% married/living with a partner
• 81% have no children
• 72% agree that mortgages are good debt, and 76% agree real estate is a good long-term investment. 58% are optimistic about the economy in the next 12 months.
• The decision to buy is often influenced by key life events – start a family (33%), getting a promotion/raise (30%), getting married (29%), inheritance (8%).
• Primary downpayment sources are personal savings (73%), gift/loan from a family member (36%), TFSA (33%) and RRSP (29%).
• Average downpayment savings is $37,000 among imminent buyers.
• Neighbourhood (61%), safety (58%), and potential for increase in value (50%) are the most important home features. Features that are considered to be worth a premium are nice neighbourhood (33%), short commute (31%) and safety (29%).
In terms of where to source their mortgage, 59% said they will likely use a Mortgage Broker once aware of their services.

The top five reasons cited for using a mortgage brokers are -

1. They are experts/specialize in mortgages
2. Getting the best rate
3. Help you negotiate a better deal
4. Access to more lenders
5. Convenient, one-stop shopping

Wherever you are in your home ownership journey, I am here to answer your questions and help you find the right mortgage, with the rate and flexibility you need to be a happy homeowner.
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Old 07-22-2016, 10:24 AM   #156
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I have a few lenders offering a no fee refinance, where they will cover legal and appraisal (~$1,000). You would only be subject to paying any penalty applicable with your current lender, which depending on the amount, can be recouped by refinancing at a lower rate.

Refinancing can allow you to:
- Lock in to today's all-time low interest rates
- Consolidate debt
- Lower payments (stretch out amortization - 35 years still available!)
- Increase cash flow
- Access equity for investments/renovations, etc.

Happy to answer any and all questions involved with the process, including whether it makes sense for you.
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Old 07-26-2016, 10:06 AM   #157
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Just wanted to share this review received recently, as this is what it's all about for me. I came from a hospitality background (GM of a restaurant, F & B Manager at Hyatt) because of my passion for customer service, but always had a passion for finance also. The hospitality industry had the former, but not the latter. Being a mortgage broker has proven to be rewarding in both facets.

"Applying for and getting a mortgage can be stressful as I'm not overly familiar with the banking world. Working with Greg from SmartCap relieved a lot of that stress as he was very knowledgable and made me feel comfortable asking many questions. He locked down a great interest rate for me and got me the product that best suited my needs. I do and will continue to recommend him to any friends and family that are in the market for a great mortgage broker."

More reviews on Facebook: https://www.facebook.com/mysmartcap/ and on Google+ (including some reviews from some CPers): https://plus.google.com/+SmartCapIncinvisCalgary/about

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Old 08-03-2016, 09:24 AM   #158
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Pretty good video explains how penalties are calculated when breaking your mortgage early:

http://www.theglobeandmail.com/repor...ticle24027597/

Note the difference a discounted rate makes. Your big banks (CIBC/TD/BMO/RBC/Scotia) use discounted rates pretty much across the board.
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Old 08-09-2016, 12:40 PM   #159
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Low interest rates have stuck around longer than originally anticipated, and show no immediate signs of changing, which is having investors change their strategies.

Quote:
It wasn’t supposed to turn out like this. When central banks around the world cut rates after the recession, it was meant to be a temporary measure to help stimulate the global economy. By making lending cheaper, consumers, corporations and governments would be able to borrow money inexpensively and put those dollars back into the economy, whether by buying goods or investing in businesses. Once global growth started revving up again, rates would revert to levels investors had grown used to, in the mid-single digits.


While some of this stimulus has worked—it’s no coincidence that home prices in Canada have soared since rates fell in 2009—for the most part, it hasn’t played out the way the experts thought it would. Global growth is still too slow—the planet’s GDP is expected to grow by 2.4% this year, according to the World Bank, which is actually below its 2.8% growth in 2011. The gradual shrinkage of the working-age population in developed nations as well as China has so far failed to stoke inflation through wage increases. Some observers point the finger at labour-saving technology, others at the demographics of aging itself—seniors simply buy less stuff.


Central banks have backed themselves into a corner, says Juliette John, founder of Calgary-based Iris Asset Management. Economies are not expanding fast enough for them to raise interest rates, but the longer rates stay low, the less impact they’ll have on growth. “Low rates have become less and less effective as time has gone on,” she says. “We’ve got a situation where rates are not helping, and if they do raise them, then that will squash any fledgling momentum that there is.”
http://www.canadianbusiness.com/investing/the-low-interest-rates-forever-portfolio/?platform=hootsuite


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Old 08-16-2016, 04:22 PM   #160
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Seeing a lot of lenders coming out with "quick close" promotions, where they're offering discounted rates for deals closing within a shorter timeline (ie. 45 days).

These can be great for refinances or renewals that are often within that time-frame, but also on quick possessions.

Shoot me a PM or email with any questions.
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