Thank you to all my clients for trusting me with your rental property management needs.
I wanted to let you know that I am now a licensed full-service Mortgage Agent.
I have partnered with Intrend Mortgage to offer you a full suite of property financing options.
If you are purchasing a new or second home, adding to your rental portfolio, refinancing, flipping a property, buying that cottage you always wanted or requiring short or long-term money for renovations, let me help you with all your mortgage needs.
We have access to over thirty lenders including the major banks.
Let us leverage our expertise and shop the market to find you the right product and the best rate for your specific needs.
Whether you’re a first-time or returning client with Speedy Rental Agency,
I will always have your best interest at heart!
Brokerage Licence #12586 – Rhonda Lewis Mortgage Agent #M18000124 Tel: 905-771-7633
Renew Your Mortgage with the Lowest Possible Rates
Mortgage renewal is an excellent opportunity to revisit your monthly mortgage payments and make sure your plan still fits your lifestyle and financial situation.
Never forget when it’s time to renew your mortgage
Sign up for our free email reminder service and I will contact you when it’s time to start re-exploring your mortgage options.
Whether you’re looking to switch, refinance or simply renew your mortgage, I will ensure you’re getting the best possible mortgage rates with the best possible terms for your situation.
Negotiating the Best Mortgage Rates Available
The proven ability of our agents to secure great mortgage for clients has earned InTrend Mortgage a solid reputation as one of Toronto and Southern Ontario’s best alternatives to big banks when it comes to delivering the best mortgage options available.
When you work with me, I will aggressively negotiate with multiple lenders to bring you the best deal possible… which could even mean access to unadvertised rates that may be better than what the bank can offer you in their limited mortgage packages.
That’s the advantage of working with an experienced InTrend Mortgage agent.
I understand that all homebuyers are unique
Unlike the limited mortgage packages offered by big banks, I understand that everyone has a unique set of circumstances that impact their mortgage application.
I can negotiate all types of mortgages and I am able to find the lowest possible rates for people in many different backgrounds including:
- Self-employed/small business owners
- First-time homebuyers
- New Canadians
- Homeowners with equity, but low income levels
- People with past credit difficulties, including discharged bankruptcies
The best part? This is at no cost to you. Our fees are paid by the lenders we work with.
The InTrend Mortgage advantage
When you work with me, you can rest assured you’re getting the best rates possible, with mortgage terms that work for you. Call me at 905-780-8988 today and ask how we can help you:
- Plan out a new home purchase
- Find the best rate – by negotiating with multiple lenders
- Lower your monthly mortgage payments
When to Take Out a Second or Third Mortgage
There are many reasons to take out a 2nd or 3rd mortgage on an existing home. And when it comes to the low mortgage rates your I can negotiate on your behalf, in many cases it just makes sense.
Ask us about refinancing for:
- Consolidating debts
- Renovations and home improvements
- Starting a business
- Buying investment properties
- Freeing up cash for your business
- Children’s education
- Weddings
- Post-divorce equity payouts
- Paying overdue taxes
- Paying off bad debt or mortgage arrears
- Bringing mortgage arrears up to date
- Halting a power of sale
Canada’s best mortgage prepayment options
Even though rates for 2nd and 3rd mortgages are generally higher than standard mortgage rates, At InTrend Mortgage I can help you refinance with Canada’s best prepayment options.
Understanding 2nd and 3rd mortgages
Private 2nd and 3rd mortgages are one of Canada’s most common forms of private mortgage financing. This is because they offer a low-interest way to consolidate debt, borrow money, or pay off loans – while leaving a long term first mortgage in place. This is beneficial, because first mortgages usually have a lower interest rate, making a 2nd or 3rd mortgage a good source of cash flow.
Another great benefit to 2nd and 3rd mortgages is how fast they can be put in place. Often these can be approved and begin generating cash within 2 to 5 business days.
Improving cash flow
2nd and 3rd mortgages can also help homeowners free up monthly cash flow. Even if the rates are higher than posted bank rates, refinancing allows for debt consolidation with far less interest than credit cards. What’s more, interest-only debt servicing may also be available, freeing up usable cash for monthly expenses.
2nd and 3rd mortgage cost
As mentioned above, interest rates for 2nd and 3rd mortgages are typically higher than those for first mortgages. This can range from 2 points above-posted bank rates to 15% and up, depending on terms. Lenders base approval on LTV (loan-to-value), your property’s location and the risk level of the loan.
Once approved, most lenders may charge anywhere from 10-15% on an 80-90% LTV 2nd mortgage.
Keep in mind too, that with a 2nd or 3rd mortgage, you may also need to pay lender fees, broker fees, legal fees and for a property appraisal.
Is Mortgage Refinancing Right For You?
In many cases, mortgage refinancing can be a very smart financial move for a homeowner. With the right strategy in place, you could benefit from lower monthly mortgage payments, more flexible repayment options and more.
If you are considering refinancing, I can help you identify the potential benefits that you could realize, and offer expert guidance to avoid the pitfalls that can result from a poorly planned refinance.
When you work with InTrend Mortgage, I will negotiate on your behalf to find the best possible mortgage rates, the best possible terms and the fewest possible penalties to determine if refinancing your mortgage is a wise financial strategy.
Why refinance your mortgage?
There are many reasons you may choose to refinance an existing property. Below we’ll examine a few of the key reasons why homeowners consider refinancing their mortgage:
Debt Consolidation
Often, when household bills have spiraled out of control, refinancing your home can be a great way to pay them off. Refinancing can help you pay them off at a substantially lower interest rate, with one monthly payment.
Combining two existing mortgages into one
If you’ve already refinanced a property, and already have a second mortgage, I can show you how combining them into a new first mortgage can help reduce payments, making them more manageable.
This option may be open to you if the combined total of your existing mortgages does not exceed 90% of your property’s value. Keep in mind that if your new first mortgage will be for more than 75% of your property’s value, CMHC premiums will apply.
As well, you may be responsible for any penalties or costs associated with discharging an existing mortgage.
Financing a home renovation
Mortgage refinancing is a great way to lower the costs of borrowing to renovate an existing property. I can find you borrowing rates that are much lower than traditional loans, i.e, lines of credit or credit cards. If you’re thinking of renovating, come talk to our mortgage refinance experts.
Financing investments and investment properties
Put your equity to work! If you already own your own home and have built up equity, you can leverage that equity to buy monetary investments or investment properties. You may even be able to write off the interest costs against your taxable income.
Education financing
With the costs of education going up every year, refinancing your home mortgage can free up equity that can be used to pay for your children’s education. Best of all – you’ll benefit from rates and payment plans that are much more manageable than many other traditional forms of student loans.
What is a reverse mortgage and how can I get one?
We believe that every Canadian deserves a financially secure retirement. After all, there’s no retirement like home. With a reverse mortgage, this means your home, on your terms.
How did we do this?
We partnered up with HomeEquity Bank and Equitable Bank to expand our offering. They both feel much the same about mutually beneficial partnerships that help our clients live a life they love, beyond their working years. In fact, 93% of Canadian homeowners aged 65+ want to retire where they feel most comfortable, in a home they love. We agree that “there’s no retirement like home” and it is our mission to make that a reality.
Through an equity release (commonly known as a reverse mortgage), our clients can turn a portion of their home equity into a source of cash. Meaning, they will have access to a dependable source of funds without the stress of any payments all while retaining ownership of their home. This also allows for no monthly mortgage payments until you choose to move or sell.
Bottom line: this means, your home on your terms.
This means, if you have questions – we have answers. We are real people who want to talk to you and walk you through whatever you want to learn more about and discover the best fit solution for you. We believe this process should not be rushed and we understand the importance of outlining all the facts before making a decision. That’s why we broke this down for you. Here is everything you need to know about reverse mortgages:
What is a reverse mortgage?
It’s a loan secured against the value of the home. You control the ownership of your home. It’s a way for homeowners aged 55+ to turn over up to half the value of their home into tax-free cash. Unlike a traditional home equity line of credit, there are no monthly payments for as long as you live in the home.
Are there any conditions?
The home must remain your primary residence. Other conditions may apply.
Why consider a reverse mortgage?
Stay in your home. Maintain control. Free yourself from monthly mortgage payments (until you move or sell). It will also help to pay off debts, renovate your home, take care of unexpected expenses, travel, and much more.
What if I already have a mortgage?
We encourage you to pay off your existing mortgage along with any other debts, and then we’ll give you the remaining proceeds.
How is my outstanding balance calculated throughout the life of my mortgage?
The outstanding balance is made up of the principal (the amount you have borrowed), costs and fees, and interest (the percentage we charge for lending the money). You then can choose to make prepayments toward your principal and interest at specific times, otherwise, payments are only required when the mortgage becomes due.
What else should I know?
- Full repayment of the mortgage is due when the property is sold or transferred, a client passes away, moves, or defaults.
- Eligibility is determined using the client’s age and a percentage of the home’s appraised value.
- Interest accrues until the equity release is repaid, and as such, the home’s equity may decrease as the interest increases throughout the life of the mortgage.
- It’s non-amortizing and there is no maturity date.
You are eligible if:
- You live in a major urban centre in Canada, as certain products cover specific provinces.
- Your home is your principal residence, meaning you are there for at least 6 months of the calendar year.
- Titleholders of the residence apply as joint borrowers.
- Home is owner-occupied and not a secondary home.
- You live in a detached, semi-detached, condo or townhome.
- You demonstrate the ability to pay for annual property taxes, fire insurance, and condo fees (if this is not possible lender may hold back some of the funds and do a gradual release to ensure that you are making the above stated payments.)
- The youngest applicant is 55 years old
5 Reasons to work with a mortgage broker
Contrary to popular belief, working with a mortgage broker is one of the easiest things about buying a home.
Still, a survey conducted by the Mortgage Professionals Association of Canada found that almost 40% of first-time homebuyers are unaware of the role of a broker in the mortgage process.
According to that same survey however, when people learned about the many advantages that mortgage brokers deliver, almost 60% of homebuyers choose to work with one.
Save money on your next home mortgage
Why wouldn’t you want to pay the lowest possible mortgage rates? At InTrend Mortgage we know that it all comes down to saving money… here are the top advantages of working with our mortgage agents:
1. Lower rates
The key reason people choose to get a mortgage through an agent is because brokers offer rates from multiple lenders… including the banks. So InTrend Mortgage Agents are less limited than traditional banks, and may even have access to unadvertised rates that can be significantly lower than those you’d find at a traditional bank.
2. Flexibility
Most people are unaware that many quality lenders can only be accessed through a qualified mortgage agent. These lenders often have lower rates, and more flexible mortgage options than big banks. Plus, an experienced mortgage agent can help you avoid harsh prepayment penalties for breaking a mortgage that can appear in the fine print of mortgages from traditional banks.
Working with an experienced agent can help you find a flexible mortgage plan that can save you thousands of dollars in the long run.
3. Customization
Thanks to their ability to access multiple lenders, mortgage agents also have more flexibility to tailor a mortgage to suit your individual needs. This can be especially helpful for entrepreneurs or the self-employed who may find it hard to qualify for a mortgage or who need custom payment terms.
4. No cost
It comes as a surprise to a lot of people when they hear that a mortgage agent’s services are free to them – but it’s true. Your InTrend Mortgage agent’s fees will be paid by the lender – not by you.
Some may say the costs trickle down from lender to borrower, but when you compare a agent’s rates to those of a bank, you’ll quickly see that you still come out way ahead in the long term.
5. Convenient
Life is busy. We get it. Which is why working with a mortgage agent makes sense. Your agent will come to you on your schedule to talk about all available mortgage options, saving you from making multiple calls, or visiting multiple bank branches hunting for low mortgage rates.
Why make more calls than you have to? Let an experienced mortgage broker handle the heavy mortgage lifting for you.
Call Rhonda today at 905-771-7633 – and let InTrend Mortgage find you the mortgage plan that’s right for you.