Here’s a few winter home maintenance tips that will be the perfect complement to the best mortgage rates.

Elements at Bay

First off, it’s important that you keep the elements at bay. That means you should be shoveling snow away from the foundation of your home during the winter months. This is an important way of making sure that the melting snow doesn’t pool around the foundation and cause expensive damage in the long run.

Cut A Swath

If you don’t have the time to cut a swath away from the foundation every time it snows, you should consider focusing on some of the areas that are prone to damage like concrete steps and windows.    It’s obvious that you are money conscious since you were looking for the best mortgage rates. That’s why we’ve included the price of a good snow shovel at $20 to $50 dollars.

On the other side of that coin, professional help often starts at $300 per season and goes up from there.

Low Roof

If you’re roof is low enough you can get up on it safely, you should think about removing any ice dams that have built up there. These aren’t usually a problem in the winter. However, when they melt in the spring, they can cause a lot of different types of roof damage.

Your best bet here is to install de-icing cables. These usually take up to 30 minutes to thaw any accumulation out after a heavy snowfall.  Even when it’s cold outside we are here to help by looking for the best mortgage rates for you.

The post The Best Mortgage Rates Go Great with These Winter Maintenance Tips appeared first on OMJ Mortgage.

Position Your Employment Properly  

You might find another opinion somewhere else, but we always think it’s best if you don’t apply for a mortgage until you’ve been in the same job for several years. Lenders are always looking for stability. While we can help you with the best rates, your employment history is the kind of thing that you’ll need to look after on your own.

Although the trend is shifting as more and more employment goes digital, lenders still favor people who work for businesses rather than those who are self-employed.

Make A Bigger Down Payment

The bigger your down payment, the less money you owe on the mortgage. When you factor in that simple ratio, you’ll see why it’s a good idea to put as much down as possible to get the best mortgage rates. One of the common benchmarks that people use Is a 20% down payment.

Hire a Toronto Mortgage Broker

When you need to fix your car, you go to a licensed mechanic. When you’re sick, the chances are you’ll go to a qualified physician. When you’re looking for the best mortgage rates, hiring a mortgage broker is always the way to go.

We are always available to help you. Keep in mind that we have an outstanding team of professionals with experience and dedication to all of our clients. Why not get in touch today for the best mortgage rates?

The post Some Tips for Doing Your Part to Get the Best Mortgage Rates appeared first on OMJ Mortgage.

That said, here are three indicators of business growth that you should be paying attention to. You should look at these during different points in the life of your business.

• This is certainly one of the key indicators. Although it might seem obvious that profitability should be at the top of your metrics list, we’d like to add an extra tip for the things you need to look at. If you compare profits that you make to similar industries in your business vertical, you’ll have a better idea where you stand.
• This is all about taking a good look at whether your business is meeting its short-term financial obligations. It’s a smaller view than profitability, but just as important. Quickly defined, this is the ability your business has to get to assets and cash quickly. It’s very important in these volatile times.
• We deal with financing as your Toronto commercial mortgage broker. However, it’s important for small business to take full advantage of the financing that’s offered to them. Short-term business loans and lines of credit are important vehicles for you to leverage as a business owner.

It’s important to have all the best players on your team as a small business. That’s why you’ll need to consider us because we are an outstanding organization that has the benefit of senior ex commercial bank managers on it.  Our Toronto Commercial mortgage broker team is industry leading. Why not get in touch with us today so we can show you what we can do for your small business?

The post Three Indicators of Business Growth from Your Commercial Mortgage Broker appeared first on OMJ Mortgage.

Here’s a few things that even the best home inspector might miss.

Bad DYI Projects and The Best Mortgage Rates

Getting the best mortgage rates is about making sure we dot our I’s and cross out T’s for each customer. After some of our clients buy their own homes, some want to save a few dollars by taking on renovation projects themselves.

There are a few different problems here when projects aren’t done up to code. For example, a home inspector won’t see electrical wiring that’s not done properly when it’s been covered over by drywall.

Pipes That Are Cracked

Most inspectors do an excellent job, but they are limited as to what they can see. If there’s a pipe under the house that’s cracked, you might not find out about the problem until it starts costing you big dollars in repairs.

It’s a good idea when the prospective buyer knows what to look for as well. For example, they should know that leaky shower tiles only show up when water gets splashed on them. That’s why they need to ask home inspector to spray the tiles or splash some water on to them with his hands so everyone can see if there’s a problem.

A Great Place To Live

It’s important to us every one of our clients gets the best terms on their mortgage and a great place to live. It’s important to take your time when you are choosing a mortgage broker and a home inspector so that you can work together to get you the best mortgage rates and a home that’s hassle free.

The post We Provide the Best Mortgage Rates but Here’s a Few Things the Home Inspection Might Miss appeared first on OMJ Mortgage.

Know When to Buy     

Real estate markets are susceptible to cycles. Knowing when to buy that first home is a matter of doing a little research and understanding what point you are in which of these cycles. Some markets are slow in mid summer. Many markets slow down during the holidays.

None of that means there’s a particularly bad time to buy your first house. You’ll just need to be aware of when there will be more choices on the market for you to look at.

Remember we are always available to help you with the best mortgage rates. However, there are other professionals and you should have a team with a good real estate agent. These are the experts that will be able to help you find a motivated seller who has some wiggle room on the price they are asking.

Do the Research

It doesn’t matter what time of year you buy in, there’s no excuse for not doing the right research. One of the first steps is taking a good look at the neighborhood you are considering buying in. Checking it out at different times of the day or night and on weekends will give you a good idea for the kind of traffic and noise that goes on.

You should take a look at some of the development data too. It will give you an idea for any future plans that can up your house price like a new shopping center or school.

Remember, through it all we are always here to help you with the best mortgage rates.

The post Great Tips That Go Beyond the Best Mortgage Rates appeared first on OMJ Mortgage.

We Charge A Fee

One of the biggest misconceptions we hear over and over again is that you need to pay a fee to use a Toronto mortgage broker. Our money comes from a referral fee that the lending institution pays us. Of course, we only search for the very best terms from banks that meet all of the top criteria for you.

We Only Help People with Bad Credit

Your credit might have something to do with you getting approved for a mortgage. However,  we don’t discriminate based on whether it’s good or bad. We help people with both types of credit get the mortgage terms that are best for them.

However, if you’ve got bad credit we can make a few suggestions. For example, if you decide to pay your bills on time you’ll see your credit score rise. Likewise, you shouldn’t take out too many applications for credit before you start looking for a home loan.

Banks Give Out the Best Rates

Here’s the kind of myth that really makes us cringe. The banks are in business to get the best rates for themselves and make the most money possible. That means that most lending institutions will provide you with rates that are higher than the ones they are willing to accept in the end.

Many Connections

Of course, people argue that they can shop around on their own but a mortgage broker Toronto like us already has many connections with lending institutions.

Using a mortgage broker Toronto is the best way to find the best mortgage rates and terms.

The post Big Myths About A Mortgage Broker Toronto appeared first on OMJ Mortgage.

Here’s a few ideas on when it’s time to revisit that document.

Your life has changed

If you got a new mortgage a couple of years ago, the chances are your life is gone through a few changes. You might have got a bump in salary or even a promotion. If things are looking better than they were when you signed, it might be time to look at the possibility of breaking the old mortgage and signing a new one to save some money.

The market is changing.

Quite often, it’s time to revisit your mortgage when you don’t think you’re enjoying the best mortgage rates. If you think the rates are going to continue to creep up, you might want to consider locking in to save yourself some money. If you’re a little on the adventurous side, you can opt for a variable rate mortgage and play the markets.

Refinancing is an option.

There are quite a few different reasons for refinancing your mortgage. Taking advantage of a lower interest rate is just one option. If you’re thinking about a major repair but don’t have the cash on hand, dipping in your equity with refinancing works.

Breaking the mortgage

There are quite a few reasons why people need to break their mortgage and unfortunately a lot of them aren’t for the best. Many people need to break their mortgages due to job loss or even health issues. However, on the brighter side, other people are looking to take advantage of lower interest rates and other financial benefits.

If you’re looking for the best mortgage rates and good terms, we’re here to guide you along.

The post The Best Mortgage Rates and Some Timely Tips appeared first on OMJ Mortgage.

That said, here’s a few ideas about getting the best rates and paying the mortgage off early.

• Getting a Toronto mortgage broker who can help you find a home mortgage that will allow you to make lump-sum payments is important. These generally go directly to the principal and not the interest. These professionals should also help you find some terms that allow you to increase your monthly payments without penalty.
• Find out what the penalties are if you decide to break your mortgage early. In today’s economy, people lose their jobs and need to break the contracts they’ve made with lenders. On a variable rate mortgage, the penalty can be as much as three months interest. Understanding how this works is just as important as getting the best mortgage rates.
• It’s also a good idea to look at the portability options you have. That means you should look to see if you can transfer a loan to a new house and add on another loan. It also pays off to find out if you have the ability to get an assumable mortgage. These allow you to transfer an existing mortgage to another buyer when you sell.

We are always here to answer any and all of your questions as your Toronto mortgage broker of choice. Finally, another way to pay down your mortgage and save in the long run is accelerating your payments. All of these tips work hand-in-hand with getting the best mortgage rates to start.

The post Three tips to pay that mortgage off and get the best mortgage rates appeared first on OMJ Mortgage.

Here’s some simple answers we hope you’ll find useful.

Income Matters—but not necessarily for the reasons you think

Most people understand how important it is to have a steady income in place before you buy a home. Of course, as your mortgage broker Toronto, we stress that aspect. However, we like to tell our clients that stability is just as important as amount when it comes to what you make.

Most lenders like to look at candidates who have been employed for at least two years. If you can avoid long periods of unemployment or a job with a pay scale that goes down, that works to your advantage.

New Rules Matter

This being the first month of 2018, we thought it would be a good idea to talk a bit about the new mortgage rules and how they affect the best mortgage rates. Basically, some folks might need to set their sights a little lower. With the new financial requirements in place, Canadians might need to look for a home 20% cheaper than they might have last year.

We don’t have the space to get into the nuts and bolts of a discussion here, but if you get in touch with us will be happy to explain.

Down Payment

Regardless of the new mortgage rules, having a sizable down payment is still a good idea. A minimum of 20% is usually the low-end benchmark for many lenders. We’re always here to answer your questions about what goes into the best mortgage rates.

The post The Best Mortgage Rates and What You Need to Know appeared first on OMJ Mortgage.

Appreciation

Making all the payments might be a struggle at first. However, we always suggest you keep moving forward because real estate always appreciates with time. Research tells us that after a 30 year mortgage, a $200,000 house is worth over $500,000 dollars.

Credit

Having your own home and making payments builds your credit score. Keep in mind that your debt payment history makes up 35% of your credit score. As you pay your home down over time, your credit score is built up.

Equity

As your mortgage broker Toronto we want you to have the best experience including good equity. That is defined as the part of your house that you’ve already paid for. Each and every payment that you make increases your borrowing and purchasing power. The more power you get, the more you’re entitled to home equity lines of credit and other helpful products.

Here at OMJ Mortgage Capital, we pride ourselves on helping you through the entire process. That doesn’t just include the best mortgage rates.

We are always happy to answer any and all of your questions about commercial or residential mortgages.

Getting in touch with us is easy. We are always looking to help you get started on the home ownership journey.

Our specialists are always ready and willing to help. If you’re looking for an excellent mortgage broker Toronto, why not give us a call today?

The post Three Great Reasons To Own a House From Your Mortgage Broker Toronto appeared first on OMJ Mortgage.