Services
James Avila, Vancouver Island
Residential Mortgages
Pre-Approval
When looking to buy your first or next home, getting pre-approved is a great first step. Filling out an application is a short process that creates a picture of how much house your family can afford. Getting pre-approved means that a lender has qualified you for a mortgage loan based on your application information. Most real estate agents recommend that you get pre-approved prior to hunting for the house of your dreams.
Let me help you guide you through this first step.
First Time Homebuyers
Are you tired of paying rent and paying somebody else’s mortgage?
Being a first time homebuyer can be liberating and overwhelming experience.
Let me help you guide you through and simplify the government incentives, the pre approval and document collection and most importantly getting you the best rate and product that suits your mortgage goal.
Purchasing a Home
For most of us, buying a home is the largest purchase and debt of our life. There is no such thing as a “one mortgage fits all”. Everyone has a different story and my job is to find a solution that fits you and your family best.
There so many details to consider beginning with if a fixed or variable rate suits your current or longterm plan. Rate, products and penalties just to name a few more that will address your mortgage needs. Let me help you create your mortgage solution.
Renewing Your Mortgage
Your mortgage term is maturing at the end of its term and it seems the the easier way moving forward is to renew with your current financial institution.
Not necessarily…
Let me help you review your current mortgage options and save your family money over the course of your mortgage. Together we can figure out if there are better rates and products that better suit your short term and long term mortgage goals.
Additional Mortgage Broker Services
Refinancing
Every family has a different reason to want to refinance their mortgage on what for most of us is the largest financial asset that we own. By paying off an existing mortgage loan, you are replacing it with a new one to unlock the potential of the equity of your home.
It is important for a homeowner to determine if refinancing is right for your financial plan. A list of reasons include:
-Consolidating high interest debt into your mortgage
-Moving from a variable rate to a fixed rate or to obtain a lower interest rate
-The means to deal with a financial emergency
-Home renovations, financing for a large purchase or investment opportunity
Let me help you reassess your borrowing needs.
Self Employed
Being self employed (or BFS-business for self) typically makes it more difficult to get a traditional mortgage as you are not a salaried employee or receiving a wage from a third party.
But there are lenders and banks that do offer mortgage products specifically tailored to those who call themselves the boss.
Let me help you achieve your BFS mortgage.
New to Canada Mortgages
Over the next decade, Canada expects to welcome thousands of people to immigrate to Canada to live here and enter the workforce.
Immigrating to Canada and starting a new life is definitely a challenge but that being said banks and lenders do offer mortgage products to newcomers help them achieve homeownership that they would other wise not normally qualify for due to the lack of Canadian work history and credit history.
Contact me if you would like to explore your new Canadian options.
Insurance
There are as many reasons to get insurance as there are types of policies so actually creating a plan can often be confusing and cumbersome.
But not having an insurance plan while taking on what for most of us is the largest debt of our life can be potentially risky. Life’s many curve balls allow for unexpected circumstances that can present challenges to paying off our debts. “How will my family pay the bills if I can’t work?”
Let me know if you’d like to discuss insurance options that suit your mortgage plan but also to save you money on your current policies.
Chip Reverse Mortgage
This is a loan secured against the value of the home. Unlike a loan or a regular mortgage, with CHIP Reverse Mortgage you are not required to make regular mortgage payments. The loan is repaid only when the homeowners no longer live in the home.
The homeowner is required to keep the property in good condition, up-to-date with property taxes and property insurance. The money received is tax-free and can be used however the homeowner wishes.
Pay off Debts
Handle Unexpected Expenses
Help children or grandchildren
Improve day-to-day standard of living
Make a special trip or purchase
Features Your Client Will Love
Keep Home Ownership
Your clients can now stay in their home and community. Homeowners maintain complete ownership and control of the home for as long as they choose to stay.
No Regular Monthly Payments
With a CHIP Reverse Mortgage, there are no regular mortgage payments until the homeowner decides to move or sell.
Relieve Financial Stress
Up to 55% of the equity in the home is available and can be used however the homeowner wishes.
Take Control
Your clients can get their finances under control and gain the freedom to set their own plans and priorities.
Enjoy Retirement
The money accessed through CHIP is tax-free and will not affect CPP or OAS.
Withdraw Funds Tax Free
You are able to withdraw funds from your CHIP tax free.
Here with you every step of the way.
Start today