Monday, November 05, 2018
Bank of Canada Prime rate now stands at 1.75%
The Bank of Canada Prime Lending Rate is the same as last month at 1.75%
Rates continue to rise. This may be the time to lock in to a 2 or 3 year rate if there are some great rate specials offered to you.
For more information please contact A. Mark Argentino
A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com
Tuesday, May 17, 2011
Short or Long Term Mortgage - What's best for you?
Should you go short or long term on your mortgage?
I've created some good information for you to read about this dilemma at
this page:
<http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm>
Short or Long Term Mortgage
Please let me know if you have any other questions.
Mark
Thursday, March 31, 2011
The difference between mortgage term, mortgage amortization and your interest rate
Tuesday, March 29, 2011
Mortgages difference between the term, amortization and the rate of a mortgage
Thank you
M.
My answer was
Hi M ., Thank you for your real estate inquiry.
Rates vary depending upon whether they are open, variable or 1 to 5 year rates - and this is what affects the actual rate that you will receive .
The amortization, whether it's 25 year or 20 or 30 will determine the payment based upon the rate you have with your mortgage.
Read more about mortgages at this page of my site:
http://www.mississauga4sale.com/Mortgage-Payment-Options.htm
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino P. Eng. Broker Specializing in Residential & Investment Real Estate RE/MAX Realty Specialists Inc. Providing Full-Time Professional Real Estate Services since 1987 BUS 905-828-3434 FAX 905-828-2829 CELL 416-520-1577 mark@mississauga4sale.com Mississauga4Sale.com
* Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ? www.mississauga4sale.com/internet-evaluation.htm
* Power of Sales and Foreclosures www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm
* If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up www.mississauga4sale.com/popupquestion.htm
* See seasonal housing patterns www.mississauga4sale.com/TREBprice.htm
* Would you like me to send you a desk or wall Calendar? www.mississauga4sale.com/Calendar-Order-Form.htm
Thursday, September 23, 2010
Great letter of introduction and Information from a TD mortgage rep
mortgage representative with Td Canada Trust was very thorough in their
approach to the business.
You may or may not agree.
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
BUS 905-828-3434
FAX 905-828-2829 CELL 416-520-1577
mark@mississauga4sale.com
Mississauga4Sale.com
* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm
* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm
* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm
* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm
Dear valued and prospective Customer,
I make every effort to provide my clients with qualified and up-to-date
financial advice. I believe that educating my clients throughout their
buying, selling, or re-financing experience helps them to not only make the
right decisions but to feel comfortable and secure in their financial
position. I also work directly with real estate professionals, builders, and
other centers of influence helping them serve their clients, and grow and
improve their businesses. I work with a number of professionals in various
areas of expertise that extend well beyond my direct specialization. Through
this, I am able to support my clients and business partners in connecting
them with the right and qualified people in different fields.
Buying a Home (First Home Buyers or Repeat Home Buyers) When yours client
thinking of buying a home, it's definitely worthwhile talking to a
professional Mortgage Specialist. TD Canada Trust is a leader in providing
competitive mortgage products along with exceptional service. This
combination of service and advice, together with my experience in the
financial services industry, allows your client to enjoy a comfortable
mortgage experience handled by a professional Mortgage Specialist.
As a Manager of Residential Mortgage in TD Bank, I can help your client to
understand how much mortgage he/she can control and to explore both
traditional and leading edge mortgage options that suit his/her individual
needs. We work with first time buyers and repeat buyers alike. If your
client finally found his/her dream home and are looking to obtain the
mortgage that's right for him/her, please talk to me before he/she move any
further.
Renewing his Mortgages he/she is looking to buy a house and willing to get a
mortgage, or he/she already have a house and looking to get home equity line
of credit, transfer his/her existing mortgage or refinance an existing
mortgage to consolidate his/her current debt, I can assist them in finding a
better mortgage solution to suit his/her needs and long-term financing
goals.
I believe when he/she try to renewing his mortgage, it's more than likely
that his/her current lending institution will offer them a rate that is NOT
the best for them. At this point he/she is in a strong bargaining position,
and by joining TD Bank he/she can obtain a rate and product that suits them
and his/her financial situation.
Refinancing Your Mortgage Refinancing, whether it be a relatively straight
forward refinance of his/her existing mortgage balance, or utilizing his/her
home equity for any other purpose desired, is a tactical decision and
usually the best one for them. I can work with them to see if I can help
lower his/her monthly payments, consolidate his/her current debt, and
arrange money for renovations. To find out more ways to get the most out of
his/her home's value or help pay his/her existing debts or just want a lower
monthly payment of his/her current mortgage, talk to me & I will be more
than happy to assist them.
Obtaining a mortgage is one of the toughest decisions to make; my help and
advice will resolve his/her mortgage solutions. Whether he/she choose the TD
Canada Trust Home Equity Line of Credit or one of our innovative TD Mortgage
products, I can find the best financing option for them.
Please feel free to contact me to help your client make financial decisions
that he/she will not regret.
With best regards,
I thought that this was very good, you may wish to choose TD, if so, send
me an email and I'll put you in touch with a good rep.
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
BUS 905-828-3434
FAX 905-828-2829 CELL 416-520-1577
mark@mississauga4sale.com
Mississauga4Sale.com
* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm
* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm
* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm
* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm
Sunday, April 18, 2010
How to Pay down your mortgage faster
How to Pay down your mortgage faster
Buying a home is probably the best investment you will ever make. That's because you can pay off your mortgage and build equity in your home over time. Renters on the other hand will continue to pay rent and will likely see their rent payments increase significantly as time goes by.
From the moment you make that first mortgage payment, you will probably be dreaming of the day when you can make your last one and be "mortgage-free." For most people that day is pretty far off in the future, but it is possible to speed up the process.
Your REALTOR® will be able to advise you on ways you can pay down your mortgage as quickly as possible. This information will be helpful when you are arranging financing on your home. Be sure to discuss various options with your financial institution before choosing a mortgage.
Amortization schedule
One of the best ways to pay off your mortgage faster is to shorten the "amortization period." By choosing a shorter amortization, you will not only pay for your home in less time, but you will make substantial savings in interest too.
For example, the most common mortgage amortization is 25 years. By shortening that period to 15 years, you will erode the amount of money you owe much more quickly and make fewer interest payments. Shortening the amortization period is not for everyone as it does mean larger payments, but for many people the benefit of long term savings is worth it.
Usually each mortgage payment is blended and applied to both the principal and interest so at the beginning, the interest portion of the payment is extremely high. However, with each payment, more and more of is applied to the principal. Ask your REALTOR® to give you examples of what your payments would be at the current interest rate amortized over 25 years as compared to 15 years.
Payment options
It used to be that most people made monthly mortgage payments, but weekly, bi-weekly and semi-monthly payments are more popular today. With these types of payment options you will reduce the amount of principal you owe faster because you make payments on a much more frequent basis and less interest is accrued. Many mortgages also offer homeowners the option of making an additional payment each year or increasing your payment each month. Making the equivalent of one extra payment a year can save you a considerable amount over time.
Anniversary date
Many mortgages allow you to make a lump sum payment on the anniversary date of your mortgage. Again this reduces the amount of money you pay interest on resulting in long term savings. It's wise to find out what "pre-payment" privileges are available on the mortgage you choose.
Your REALTOR® along with either your bank, trust company or mortgage broker can help you look at all the possibilities for financing your home and can tailor a mortgage that fits your income and your goals.
Shop around
Look for a mortgage that has as much flexibility as possible. Be sure you can make at least one extra payment a year and can choose the payment plan that works best for you. Your REALTOR® is experienced and knowledgeable about the many mortgage options and the types of payment plans available and can act as your guide to help you become mortgage free sooner.
Read more about how to pay down your mortgage faster
- Interest Rates
- Power of Sale Properties
- Price Trends
- or Search the MLS and more at my website
Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
›mark@mississauga4sale.com
8 Website : Mississauga4Sale.com
- Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
- On-Line Real Estate Newsletter sign up
- See seasonal housing patterns
Wednesday, January 27, 2010
Should I lock in at 5 year or variable mortgage interest rate?
Hi Mark,
After looking through a whole bunch of Google results, I found yours the
most intelligent and sensible. So, if you don't mind, I would like to ask
you this at this point in time, as your posting is somewhat old:
I am being offered these two options before my March 2 renewal date on a
$202,000 mortgage with 23 yr. amortization:
1). 5 Year Closed @ 3.81% - 23 Year Amortization with Weekly Regular
Payments: $252.77
2). 5 Year Variable @ Prime Minus 0.35% (currently 1.90%) - 23 Year
Amortization with Weekly Regular Payments: $208.32
Which one would YOU choose?
Thanks.
--
H.S.A. Harry, Calgary, Alberta, Canada
Hi H .,
I am a firm believer in paying that mortgage off. We may never see today's'
rates again. I would go with option 2 and have your bank lower your
amortization on renewal until the payment is $250 per week. This should
reduce your amortization to about 18.2 years, see the calculator here:
http://www.mississauga4sale.com/mortgage-amortization-creator.htm
Then in 5 years when it comes time to renew, you will only have 13 years
left to go on your mortgage.
Even if the prime rate increases, which it is supposed to, the 5 year
variable has to climb to about 5.5% for you to be even compared to the 3.81%
mortgage for 5 years and you will still be ahead of the game. Reason is, it
may take 2 years to reach 5.5%, if ever, and then you have saved a pile in
interest in the first 2 years of your mortgage. You should be earning more
in 2 years from now and look at it as an investment in yourself.
Also, in 3 years, you can renew that 5 year mortgage and who knows, there
may be some good specials out there that you can take advantage of.
You should be better off in the long run going short term, read my
experience here:
http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm
All the best!
Mark
Thursday, July 16, 2009
Mississauga Real estate and GTA real estate mortgage interest rates
marketplace.
Enjoy!
Mark
TERM POSTED Obtainable RATES*
6 Month 4.60% 3.75%
1 Year 3.75% 2.75%
2 Year 4.05% 2.85%
3 Year 4.65% 3.44%
4 Year 5.14% 3.89%
5 Year 5.85% 4.12%
7 Year 6.80% 5.15%
10 Year 6.90% 5.20%
Variable Rate 2.55%
Prime Rate 2.25%
* Rates may vary and are subject to change without notice OAC.
Rates Last Updated: Thursday, July 16, 2009
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm>
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
* BUS 905-828-3434
* FAX 905-828-2829 *CELL 416-520-1577
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com
* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2009 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?
Wednesday, March 11, 2009
Save over $300 per month on a $300k mortgage with Today's mortgage interest rates!
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : Mississauga4Sale.com
- Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
- Power of Sales and Foreclosures
- If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
- See seasonal housing patterns
- Would you like me to send you a 2009 Calendar?
Monday, October 27, 2008
blogger labels to create new blogger labels for future posts
For more information please contact A. Mark Argentino
A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com
Friday, July 11, 2008
If you need funds for improvements when you purchase
If you need more funds when purchasing or refinancing with improvements
Increase to the market value of the property is limited to 10% of the property’s as-improved market value
v First Advance – based on the properties as is value up to 95% LTV
v Improved Value – up to 10% of the market value after improvements. Advance after the improvements are completed.
v Down Payment – Based on improved value minimum 5%.
v EXAMPLE
Current market value $117,000
Acceptable as-improved market value of property $130,000
(i.e. maximum increase to market value = $130,000 x 10% = 13,000)
1st advance up to 95% of current market value, and subsequent advance up to 95% of as-improved market value.
Products available for improvements that exceed 10% of the property’s as improved market value.
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : Mississauga4Sale.com
- Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
- If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
- See seasonal housing patterns
- Would you like me to send you a 2008 Calendar?
Friday, March 21, 2008
Have you heard of the new 50 Year Mortgage?
The company is called Centum and they say they offer mortgage financing, home equity loans and debt consolidation especially designed for first time buyers and those with good, bad or marginal credit. Their site is labuick .com
It will likely not be too long before the other major lenders follow the lead!
Does this mean that you need to buy your first home at 15 years old to have it paid off by retirement? ;-))
http://www.mississauga4sale.com/bestrate.htm
- Interest Rates
- Power of Sale Properties
- Price Trends
- or Search the MLS and more at my website
Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
›mark@mississauga4sale.com
8 Website : Mississauga4Sale.com
- Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
- On-Line Real Estate Newsletter sign up
- See seasonal housing patterns
Wednesday, January 30, 2008
Mortgage Rates and Factors to calculate payments
Mortgage Rates and Factors to calculate payments
The table below shows current rates and their factors.
Discounted Rate (OAC)/ Cost Factor per Thousand
1 Year 6.00% / $6.40
2 Year 6.10% / $6.46
3 Year 6.05% / $6.43
4 Year 5.95% / $6.37
5 Year 5.79% / $6.27
7 Year 6.20% / $6.51
10 Year 6.30% / $6.58
5 Year Variable 5.15% / $5.90
Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.
Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com
- Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
- On-Line Real Estate Newsletter sign up
- See seasonal housing patterns
Tuesday, January 22, 2008
Mortgage Calculators - help with your payments and income qualification
Online Mortgage Calculators This edition of my blog writings has the latest and best rates for Canadian mortgages. At mortgages, we work on your behalf to find the mortgage that suits your needs. Best of all - our service is "free" for the asking It's the selected lender that gets YOU the best rate. *(O.A.C., E.&O.E.) | ||||||||||||||||||||||||||||||||
Examples of Current Mortage Interest Rates Explore Mortgage Scenarios with Helpful Calculators on dominionlending.ca | ||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||
Variable rate mortgages from as low as Prime minus 0.60%. Rates are subject to change without notice. Fixed mortgage rates shown in table above and quoted variable mortgage rates are available nationally to qualified individuals. Lower rates may be available to those with higher credit scores or higher net worth check with your mortage Expert for full details. *O.A.C., E.& O.E. Explore Mortgage Scenarios When you're starting to think about what mortgage approach would be beneficial, my online mortgage calculators can help uncover some possible strategies. The Mississauga4Sale website at mortgages features a full line-up of mortgage tools which allow borrowers like you explore mortgage scenarios before speaking to a mortgage expert. If you're planning on buying a home, you can calculate: the mortgage amount for which you can comfortably qualify, your mortgage payments along with an amortization schedule to discover what you would owe in five years, savings realized by making prepayments on your mortgage. If you currently have a mortgage, you can calculate: how large a home equity line of credit you may be eligible for, how much interest you could save by refinancing your mortgage, how to accelerate paying off your mortgage debt. By visiting mortgages and clicking on "Calculators" on the main page, you can access a range of easy-to-use calculators that will provide you with ample insight into all aspects of mortgage financing. |
I wish you all the best.
Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.
Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com
- Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
- On-Line Real Estate Newsletter sign up
- See seasonal housing patterns