A mortgage is more than just numbers. 

It’s more than lenders saying yes or no to your dreams.

It’s a story.

The story of the newlywed couple searching for their perfect starter home.

The story of the empty nesters wanting to downsize.

It’s the story of the young homeowner who has visions of starting their own business but needing funds to do so.

It’s the story of the new parents who now need another bedroom.

It’s the story of the older couple who wishes to stay in their home for as long as possible.

There are millions of stories out there.

YOU are more than numbers.

YOU have a story.

Let’s see which way your story goes…I would love to help you write it.

You don’t always have to sell your house!

To anyone going through the difficulties of divorce – there are options. I have attached an example below 👇

I wish that I had known about this product myself when I was struggling and not wanting to move my children out of our home.

Please reach out if you need help. You don’t have to figure it out alone.

Take care my friends ❤️

Kellie Bryant
k.bryant@dominionlending.ca
https://kelliebryant.ca/

#MortgageBroker
#licensedmortageprofessional
#divorce
#homeownership

Have you thought about a reverse mortgage?

Reverse mortgages have come a long way.

They have evolved from a needs-based product to a solution that many financial planners recommend as an important component of a comprehensive retirement plan.

Unfortunately, there are still many misconceptions regarding reverse mortgages. Below, the myths are separated from the facts.

Myth: The bank owns the home.

Fact: You always maintain title ownership and control of your home, and you have the freedom to decide when and if you’d like to move or sell.

Myth: You will owe more than your home is worth.

Fact: Clients can qualify for up to 55% of the appraised value of the home, 33% on average. Due to conservative lending practices, you can be confident that there will be equity left in the home when the loan is repaid. In fact, lenders have a no negative equity guarantee.

Myth: A reverse mortgage is a solution of last resort.

Fact: Many financial professionals recommend a reverse mortgage because it’s a great way to provide financial flexibility. Since it’s tax-free money, it allows retirement savings to last longer.

Myth: You cannot get a reverse mortgage if you have an existing mortgage.

Fact: Clients use a reverse mortgage to pay off their existing mortgage and other debts, freeing up cash flow to use as you wish. How great would it feel to be free of regular mortgage payments?

You’ve paid into your home, now let your home pay you back to comfortably enjoy the years ahead!

Contact me if you would like to learn more.

I can’t wait to help you! 😁

Kellie Bryant

k.bryant@dominionlending.ca

#mortgagebroker

#reversemortgage

#retireinstyle

The BoC’s first policy announcement of 2024 was this past Wednesday morning.

As expected, the policy rate remained unchanged at 5.00% for the fourth consecutive meeting.

Looking ahead, the bank next meets on March 6th. The probability of a rate cut at that meeting is slim. We do however, look forward to discovering when the rate cuts might begin…sooner rather than later we hope! 🤞🤞🤞

Kellie Bryant
k.bryant@dominionlending.ca
https://kelliebryant.ca/

#mortgagebroker
#bankofcanada
#homeownership

When it comes to your money, RRSPs are one of the best ways to save. Known as a “Registered Retirement Savings Plan”, RRSPs have tons of benefits including: reducing your taxable income, earning compound interest, savings protection and more. 

One major component of RRSPs are your contributions! You have a maximum contribution amount that is equal to 18% of your total income for the previous year, not exceeding the annual limit (set per year by the Canadian government). 

Before your RRSP deadline, there are a few things to consider to help you get a jump start in planning for the future and increasing your peace of mind: 

• Should you invest in a RRSP or focus on paying down your mortgage? 

• Is a debt consolidation mortgage right for you? 

• Should you consider the Home Buyers’ Plan to help fund your down payment on your first home? 

If you already contributed this year, or missed the deadline, that’s okay! These are great questions to consider before next year’s contribution. 

If you’re wondering if you still have the ability to contribute to your RRSP this calendar year, you can check your contribution levels on your Notice of Assessment from last year’s tax return or on the CRA My Account website. 

To help understand your financial direction and what benefits paying down your mortgage might have versus adding to your RRSPs, please don’t hesitate to reach out to me today! I’d be happy to review your situation and take a look at your mortgage to help determine the best course of action. 

So, you are ready to renew your mortgage! There are a few things you should know about renewal time and some of the options it affords you: 

Get a Better Rate 

Did you know? When you receive notice that your mortgage is coming up for renewal, this is the best time to shop around for a more favourable interest rate? At renewal time, it is easy to shop around or switch lenders for a preferable interest rate as it doesn’t break your mortgage! Taking some time to reach out to me and shopping the market could end up saving you a couple hundred dollars a month! 

Start on that Reno! 

Have projects you want to get started on? Renewal time is also a great opportunity for you to look at utilizing some of your home equity to help with home renovations or even to purchase a vacation property! 

Consolidate Debt 

Renewal time is also a great time to take a look at your existing debt and determine whether or not you want to consolidate it onto your mortgage. Consolidating your debt allows for one easy payment instead of juggling multiple loans. Plus, in most cases, the interest rate on your mortgage will be less than it would be on consumer debt such as a car loan or credit card.

Change Your Mortgage Product 

Are you not happy with your existing mortgage product? Perhaps you’re finding that your variable-rate or adjustable-rate mortgages are fluctuating too much and you want to lock-in! Alternatively, maybe you want to take advantage of a different payment schedule to help pay off your mortgage faster! 

Change Your Lender 

Not happy with your current lender? A mortgage renewal is a great time to switch to a different bank or credit union to ensure that you are getting the value you want out of your mortgage. 

Regardless of what changes you might want to make, if your mortgage is coming up for renewal or is ready for renewal, please don’t hesitate to reach out to me today! I’d be happy to discuss your current situation and review any changes that would be beneficial, from shopping for new rates or utilizing that equity! I can help you find the best option for where you are at in your life now and help you to ensure future financial success.

Dominion Lending Centres Inc. | Independently Owned & Operated