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Discover expert mortgage solutions with Kari Geddes at Mortgage Intelligence. Serving Ontario, we provide personalized mortgage options for unique financial situations. Contact us today to explore your alternatives.

Mortgage Specialist in Ontario | Kari Geddes - Mortgage Intelligence

Découvrez des solutions hypothécaires expertes avec Kari Geddes chez Intelligence Hypothécaire. Desservant Ontario, nous proposons des options hypothécaires personnalisées pour des situations financières uniques. Contactez-nous dès aujourd'hui pour explorer vos alternatives.

Spécialiste hypothécaire en Ontario | Kari Geddes - Intelligence Hypothécaire

<h2 class="editor_h2" dir="ltr">Hello freedom! </h2> Leverage the equity in your property with a reverse mortgage!&nbsp;Many retirees or those soon-to-be retired are looking at ways to unlock the value of their homes to free up tax-free cash.<h3 class="editor_h3" dir="ltr" style="text-align: left;">There are many reasons to tap into home equity. What’s yours?</h3><ul><li value="1" class="editor_listItem" dir="ltr">You want the financial freedom to pay off your mortgage and any other debts.</li><li value="2" class="editor_listItem" dir="ltr">It’s becoming harder to live on your current income; you can’t manage ongoing bills like property or income taxes.</li><li value="3" class="editor_listItem" dir="ltr">You want a financial cushion to live comfortably and without worry.</li><li value="4" class="editor_listItem" dir="ltr">You want to purchase a second home or start a new business.</li><li value="5" class="editor_listItem" dir="ltr">You want to travel, fix up your home, or are facing a large unexpected expense.</li></ul>A reverse mortgage can be a tremendous financial solution, allowing you to access your equity while you always maintain ownership of your home and never have to move or sell. No mortgage payments are required, and you can receive your tax-free cash over time or in one lump sum.Have a discussion with your mortgage broker if you are interested in exploring these financial benefits.

Leverage the equity in your property with a reverse mortgage!  Many retirees or those soon-to-be retired are looking at ways to unlock the value of th

Reverse Mortgages

Congratulations on taking the exciting step towards homeownership! We understand that purchasing your first home is a significant milestone. We are here to guide you through every aspect of the process, providing expert advice and support tailored to you. ​Your dream of home ownership is within reach, and we're here to make it a reality. Contact us today to begin this exciting journey together. <h1 class="editor_h1" dir="ltr" style="text-align: center;">First Time Buyers Journey</h1>01 MORTGAGE AFFORDABILITYThe affordability assessment process begins with completing a mortgage application, which gathers detailed information about your income, assets, liabilities, and residency history. Once submitted, the application generates a list of required documents tailored to your financial profile, streamlining the process. After reviewing your documents, we provide an affordability letter stating your maximum purchase price, down payment details, and annual property taxes, empowering you to start house hunting within your budget.02 HOUSE HUNTINGWe highly recommend partnering with a real estate agent to make your home buying journey enjoyable and stress-free. Their expertise and guidance can transform the process into an adventure filled with laughter, happy discoveries, and fond memories. Our goal is to ensure you find the perfect home that reflects your personality and lifestyle, with our unwavering support every step of the way. If you're in need of a real estate agent, we can refer you to a list of professionals specializing in the area you're looking to buy, ensuring you have the right partner by your side.03 MAKE AN OFFERWhen you find a home within your budget, your agent will collaborate with you to negotiate terms that suit your needs. We strongly advise including a financing condition in your offer, which safeguards your interests by ensuring the property meets the lender's standards before proceeding. Once your offer is accepted, your agent will promptly send us the necessary documents, initiating the next steps in the homebuying process.04 MORTGAGE APPROVALAfter receiving the documents from your real estate agent, we may request additional or updated information/income documents if necessary. Following this, we'll engage in discussions about mortgage products and terms tailored to your needs. Together, we'll explore various loan options, interest rates, and closing costs to determine the optimal financing solution for you. Our objective is to provide you with thorough information about product features and benefits, allowing you to make informed decisions confidently. Once finalized, we'll submit this information to the lender for your mortgage approval.05 SIGNING PACKAGE &amp; DOCUMENT COLLECTIONOnce we've received mortgage approval from the lender, we'll put together a signing package and send you a detailed email outlining the signing process and any additional information required. During this stage, we'll discuss mortgage life insurance coverage and gather any extra documents needed for your down payment, payment details, and other paperwork requested by the lender. As part of our discussion, we'll also address the need for a real estate lawyer. If you don't currently have one in mind, we're happy to provide a list of trusted lawyers we frequently work with. We'll ensure everything is well-organized to facilitate a smooth signing process. Inside the signing package, you'll find details about your mortgage financing, including an overview of fees and costs, along with product terms like prepayment options and other essential mortgage details, which we'll review with you.06 BROKER COMPLETEWe'll inform you once we've reached the Broker Complete stage. This occurs when the lender confirms with us that all signed documents, along with any additional required paperwork, have been submitted and approved. At this point, the lender will contact your lawyer with instructions to facilitate the closing of the purchase transaction. Your lawyer's tasks will include conducting title searches, preparing legal documents, and registering the mortgage and property title. Your lawyer will then reach out with their checklist including things such as fire insurance.07 SIGNING WITH THE LAWYER1 week to 2 days before your closing day, your lawyer will reach out to you to schedule a signing appointment. Prior to your meeting, they will send you a checklist and additional paperwork to fill out. The checklist will include details such as the amount of the bank draft needed to cover the remaining down payment and closing costs. When attending the signing appointment, remember to bring the bank draft along with a form of identification.08 CLOSING DAYOn closing day, we recommend that you avoid taking the day off from work (unless you still have packing to do). Typically, you'll receive a call from the lawyer in the late afternoon informing you that the keys are ready. You might wonder why it takes most of the working day to get your keys. This is because several steps are involved, including the lender transferring funds to the lawyer's trust and the lawyer confirming the title on the day of closing. The lawyer's role is to ensure everything is in order, and this process is not rushed to guarantee accuracy and completeness.09 HOME OWNER! Congratulations! You’ve officially reached the final step in your journey – you're now a homeowner! Take a moment to enjoy this incredible achievement and all the hard work it took to get here. Welcome to your new home! <h1 class="editor_h1" dir="ltr" style="text-align: center;">First-Time Homebuyer's Frequently Asked Questions</h1><h3 class="editor_h3" dir="ltr" style="text-align: center;">How much do I need for a down payment?</h3>To purchase a home in Canada, you need a minimum of 5% downpayment. That's 5% of the price you pay for your home if your purchase is $500,000 or less. What if the house you want is more than $500,000? Good question. Because the rules change. For any home over $500,000 but less than $1 million, you need 5% of the first $500,000 and then you're going to need 10% for any amount over that. If your purchase price is $1 million of more, you need a 20% downpayment. <img src="https://brokerwebsitesimage.azureedge.net/m3brokerimages1/next/brokerAdmin/21825/39eccd14-9eaf-4b10-9c79-be7743f59a06image.jpg" alt="" width="504px" height="217px" class="editor_image"> <h3 class="editor_h3" dir="ltr" style="text-align: center;">What are closing costs, and how much should I expect to pay?&nbsp;</h3>Closing costs are one-time fees associated with the purchase of a home. We recommend saving approximately 1.5%-3% of the purchase price to cover these costs. Check out the list below for a breakdown of these costs. If you have any questions, don't hesitate to reach out!&nbsp; <h3 class="editor_h3" dir="ltr" style="text-align: center;">Why should I open a First-Home Savings Account (FHSA)? </h3>- Get Tax Benefits&nbsp;: Your FHSA contributions can reduce your taxable income.&nbsp;- Grow your savings, tax-free: Any investment income in your FHSA is non-taxable while it's in your plan.&nbsp;- Save for your first home, tax-free: Pay no taxes on withdrawals when you use your FHSA towards the purchase of a qualifying home.&nbsp; <h3 class="editor_h3" dir="ltr" style="text-align: center;">What is the Home Buyers Plan? (RRSP Withdrawal)? </h3>The federal government's Home Buyers' Plan (HBP) is a program for first-time home buyers in Canada. Through it, you can withdraw existing funds from your Registered Retirement Savings Plans (RRSPs) to buy or build a home, either for yourself or for a family member with a disability. <h3 class="editor_h3" dir="ltr" style="text-align: center;">Do I get a Land Transfer Tax Discount as a First-Time Home Buyer? </h3>If you’re buying your first home in Ontario, whether it is a new home build or a resale property, you may be eligible for a land transfer tax refund of all or part of that tax, up to the maximum of $4,000. When you purchase a house, condo, or land in Ontario, buyers must pay land transfer tax upon the close of a purchase. But as a first-time homebuyer, you may be eligible to receive some financial relief on closing costs. <h3 class="editor_h3" dir="ltr" style="text-align: center;">What are different types of closing costs for First Time Home Buyers? </h3>Legal Fees: When you purchase a home, the transaction must be administered by a lawyer. Lawyers charge a fee to prepare the necessary documents, make disbursements, and register the mortgage with the land titles office.What is Land Transfer Tax? Every province in Canada has something called a land transfer tax, which is a percentage of the purchase price of the home. The more expensive the home, the higher this amount will be.What is Title Insurance? Title insurance offers protection if you end up in a property ownership dispute after buying your home. The cost for this insurance can be upward of $500 and is often a requirement of your lender that you purchase it. The lawyer will collect the premium at closing.<h2 class="editor_h2" dir="ltr"></h2><h2 class="editor_h2" dir="ltr" style="text-align: center;">Get Started Today! </h2>Ready to embark on the journey towards owning your dream home or expanding your investment portfolio? We we understand that navigating the mortgage process can seem overwhelming. That’s why we, Kari and Katie, make it our mission to forge a personal connection with each of our clients. We take the time to understand your specific needs and are committed to finding the mortgage solution that’s perfectly tailored for you. If you're still weighing your options or unsure about the benefits of working with us, we're here to provide a no-obligation consultation to explore your possibilities. Don’t wait—give us a call today and let us help you access the financing you need.&nbsp;

Congratulations on taking the exciting step towards homeownership! We understand that purchasing your first home is a significant milestone. We are he

First Time Home Buyers

Are you considering expanding your triplex to accommodate more rental units? Maybe you're planning a significant renovation for your home, or you simply want to secure a better rate on your existing mortgage. A well-structured mortgage refinance can address these needs and more, with some opting for second mortgages to cover upfront property expenses. With solid equity, accessing these funds is feasible, and I'm here to guide you through the available options.<h2 class="editor_h2" dir="ltr"></h2><h2 class="editor_h2" dir="ltr">Reasons to Refinance</h2>Typically, the aim of refinancing is to attain a lower interest rate, decrease monthly payments, or adjust mortgage terms to align better with the borrower's requirements. However, in today's landscape, many clients prioritize enhancing cash flow and alleviating stress over securing a favourable interest rate. They may seek to extend amortization periods or consolidate other debts, prioritizing payment flexibility over interest rates. <h3 class="editor_h3" dir="ltr">Thinking of Renovating? </h3>Giving your home a makeover with renovations can be a budget-friendly alternative to packing up and moving elsewhere. Plus, with the right upgrades, like a modern kitchen or a cozy backyard deck, you can enjoy better living spaces while potentially increasing your home's resale value down the road. <h3 class="editor_h3" dir="ltr">Debt Consolidation - New Beginnings</h3>If you're burdened by excessive high-interest debt, consolidating everything into a single, affordable monthly payment on a low-interest mortgage could provide a financial fresh start. This approach not only simplifies your payments but also has the potential to save you thousands of dollars in interest over time. <h3 class="editor_h3" dir="ltr">Purchasing a Second Property - Equity Take Out </h3>Owning a rental property can offer a fantastic chance to build wealth and secure a reliable source of income for retirement. Similarly, if you're eyeing a new business endeavor or dream vacation home like a cottage or chalet, refinancing might be the ideal solution for making those aspirations a reality without having to sell your primary residence. <h3 class="editor_h3" dir="ltr">Large Expenditures</h3>Are you dreaming of that once-in-a-lifetime vacation, planning the wedding of your dreams, or sending a kid off to college? Refinancing your mortgage could be the key to unlocking the funds you need to make these aspirations a reality.&nbsp; With competitive interest rates and flexible repayment options, refinancing offers a convenient way to access the funds you need for life's significant milestones while leveraging the value of your home. <h2 class="editor_h2" dir="ltr">The Process to Refinance With Us </h2><h3 class="editor_h3" dir="ltr">1. Mortgage Application </h3>Mortgage approvals start by gathering all the necessary information upfront. Our secure application, accessible through the link provided, is the cornerstone of your mortgage plan. It asks for details such as income, employment history, assets, liabilities, and residential history for the past three years. Don't worry if you're unsure about any information; we can assist in updating it from our end. <h3 class="editor_h3" dir="ltr">2. Document Collection </h3>Once you've completed our application, a customized list of required documents is generated based on your unique financial situation. Each document is clearly described, ensuring we're aligned every step of the way. <h3 class="editor_h3" dir="ltr">3. Mortgage Approval </h3>We will engage in discussions to tailor mortgage products and terms to your needs. Together, we explore various loan options, interest rates, and closing costs to determine the best financing solution for you. Our goal is to equip you with comprehensive information about product features and benefits, empowering you to make confident decisions. Once finalized, we submit this information to the lender for your mortgage approval. <h3 class="editor_h3" dir="ltr">4. Mortgage Signing</h3>Upon receiving mortgage approval from the lender, we prepare a signing package and send you a detailed email outlining the signing process and any additional information required. During this stage, we discuss mortgage life insurance coverage and gather any extra documents and information requested by the lender. Inside the signing package, you'll find details about your mortgage financing, including an overview of fees and costs, along with product terms like prepayment options and other essential mortgage details, which we'll review with you. <h3 class="editor_h3" dir="ltr">5. Broker Complete </h3>We'll notify you once we've reached the Broker Complete stage. This occurs when the lender confirms with us that all signed documents, along with any additional required paperwork, have been submitted and approved.<h3 class="editor_h3" dir="ltr"></h3><h3 class="editor_h3" dir="ltr">6. Signing with the Lawyer </h3>In some cases, the file may require a traditional solicitor to facilitate the transaction, while in others, we have FCT to handle the process. For more information about FCT and their role in the mortgage process, keep scrolling. <h2 class="editor_h2" dir="ltr">Our Lender Partners </h2>When it comes to refinancing, you deserve a mortgage that aligns perfectly with your financial goals and lifestyle. We have access to an extensive network of over 50 lenders—ranging from major banks to private lenders and everything in between. With such a diverse selection, we have the flexibility and expertise to secure a customized refinancing solution that works specifically for you. Refinancing your mortgage doesn’t have to be complicated—trust our team to help you unlock the potential in your home with solutions tailored just for you.

Are you considering expanding your triplex to accommodate more rental units? Maybe you're planning a significant renovation for your home, or you simp

Mortgage Refinance

When it's time for a mortgage renewal, you've got the opportunity to tweak your terms and conditions, like the interest rate, amortization period, and payment schedule. And guess what? You don't have to stick with your current lender just because you've been with them for a while. We encourage borrowers to explore their options and compare rates from multiple lenders to snag the best deal possible. Whether you're eyeing a lower interest rate, reduced monthly payments, or more favourable terms, we're here to help you navigate the process. Plus, it's wise to reassess your financial goals and situation to see if a different mortgage product or term aligns better with your needs.&nbsp; <h2 class="editor_h2" dir="ltr">Already a Client with Us? </h2>Already a valued client with us? Keep an eye out for a letter in your mailbox approximately six months before your renewal date. This friendly reminder will help you stay on track as you reflect on your current financial situation and any changes that have occurred throughout your mortgage term. And guess what? We're ready to kick-start your renewal process approximately four months ahead of schedule, ensuring a seamless transition and peace of mind. <h2 class="editor_h2" dir="ltr">Get Started Today! </h2>Ready to embark on the journey towards owning your dream home or expanding your investment portfolio? We we understand that navigating the mortgage process can seem overwhelming. That’s why we, Kari and Katie, make it our mission to forge a personal connection with each of our clients. We take the time to understand your specific needs and are committed to finding the mortgage solution that’s perfectly tailored for you. If you're still weighing your options or unsure about the benefits of working with us, we're here to provide a no-obligation consultation to explore your possibilities. Don’t wait—give us a call today and let us help you access the financing you need.&nbsp;

When it's time for a mortgage renewal, you've got the opportunity to tweak your terms and conditions, like the interest rate, amortization period, and

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November 26, 2024

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