MV Mortgage Team

💡 Extended 30-Year Amortization: A Boost for Affordability! Big news for first-time buyers and those purchasing new builds: Starting December 15, 2024, you can now stretch your mortgage amortization to 30 years if your down payment is less than 20%! 🔑 How This Helps: ✅ Lower Monthly Payments: A $500,000 mortgage with a 25-year term = ~$2,800/month A 30-year term = ~$2,500/month, saving ~$300/month! ✅ Enhanced Buying Power: The extended term makes it easier to qualify for higher loan amounts—especially helpful in markets with prices over $1 million. ⚠️ What to Watch For: Lower payments mean more cash flow now but higher total interest over time. For example, extending a $500,000 mortgage from 25 to 30 years could add tens of thousands in additional interest costs. 📲 Curious if this is right for you? Let’s chat about your options! #MortgageNews #FirstTimeBuyer #RealEstateTips #CanadianRealEstate #HomeBuyingJourney #AffordabilityMatters #TorontoRealEstate #VancouverRealEstate #MortgageHelp #30YearMortgage #SimcoeCounty #RealEstateAdvice #MVRealEstate

💡 Extended 30-Year Amortization: A Boost for Affordability! Big news for first-time buyers and those purchasing new builds: Starting December 15, 2024, you can now stretch your mortgage amortization to 30 years if your down payment is less than 20%! 🔑 How This Helps: ✅ Lower Monthly Payments: A $500,000 mortgage with a 25-year term = ~$2,800/month A 30-year term = ~$2,500/month, saving ~$300/month! ✅ Enhanced Buying Power: The extended term makes it easier to qualify for higher loan amounts—especially helpful in markets with prices over $1 million. ⚠️ What to Watch For: Lower payments mean more cash flow now but higher total interest over time. For example, extending a $500,000 mortgage from 25 to 30 years could add tens of thousands in additional interest costs. 📲 Curious if this is right for you? Let’s chat about your options! #MortgageNews #FirstTimeBuyer #RealEstateTips #CanadianRealEstate #HomeBuyingJourney #AffordabilityMatters #TorontoRealEstate #VancouverRealEstate #MortgageHelp #30YearMortgage #SimcoeCounty #RealEstateAdvice #MVRealEstate

More Opportunities for Buyers! 🏠✨ The maximum price for insured mortgages has increased from $1 million to $1.5 million! 🎉 This opens doors for buyers in higher-priced markets like Toronto and Vancouver to access high loan-to-value mortgage insurance—while needing a smaller down payment. 📌 Here’s how it works: ✅ 5% on the first $500,000 of the purchase price ✅ 10% on the portion between $500,000 and $1.5 million 💡 Example: A $1.5-million home now requires a $125,000 down payment, compared to $300,000 under the old uninsured rules. That’s a huge difference! Thinking of making your move? 📲 Let’s chat and see how this change can work for you! #RealEstateNews #MortgageUpdate #HomeBuyingTips #TorontoRealEstate #VancouverRealEstate #HomeOwnership #RealEstateAdvice #MortgageHelp #CanadianRealEstate #SimcoeCounty #HomeGoals #MVRealEstate

More Opportunities for Buyers! 🏠✨ The maximum price for insured mortgages has increased from $1 million to $1.5 million! 🎉 This opens doors for buyers in higher-priced markets like Toronto and Vancouver to access high loan-to-value mortgage insurance—while needing a smaller down payment. 📌 Here’s how it works: ✅ 5% on the first $500,000 of the purchase price ✅ 10% on the portion between $500,000 and $1.5 million 💡 Example: A $1.5-million home now requires a $125,000 down payment, compared to $300,000 under the old uninsured rules. That’s a huge difference! Thinking of making your move? 📲 Let’s chat and see how this change can work for you! #RealEstateNews #MortgageUpdate #HomeBuyingTips #TorontoRealEstate #VancouverRealEstate #HomeOwnership #RealEstateAdvice #MortgageHelp #CanadianRealEstate #SimcoeCounty #HomeGoals #MVRealEstate

Big News for Homebuyers! 🏠💥 As of December 15, 2024, the minimum down payment requirement for insured mortgages has increased to cover homes up to $1.5 million! 🔑 What does this mean for you? Instead of needing a full 20% down payment for homes over $1 million, you can now: ✅ Pay 5% on the first $500,000 ✅ Pay 10% on the remaining amount, up to $1.5 million ✨ This could save you over $100,000 in upfront costs for homes priced between $1M and $1.5M, making homeownership more accessible! Have questions? Wondering how this can work for you? 📲 Reach out to learn more! #HomeBuyingTips #RealEstateNews #MortgageUpdate #FirstTimeHomeBuyer #HomeOwnership #HomeBuyingJourney #RealEstateMarket #CanadianRealEstate #SimcoeCounty #GTARealEstate #DownPayment #RealEstateAdvice #HomeGoals #MVRealEstate

Big News for Homebuyers! 🏠💥 As of December 15, 2024, the minimum down payment requirement for insured mortgages has increased to cover homes up to $1.5 million! 🔑 What does this mean for you? Instead of needing a full 20% down payment for homes over $1 million, you can now: ✅ Pay 5% on the first $500,000 ✅ Pay 10% on the remaining amount, up to $1.5 million ✨ This could save you over $100,000 in upfront costs for homes priced between $1M and $1.5M, making homeownership more accessible! Have questions? Wondering how this can work for you? 📲 Reach out to learn more! #HomeBuyingTips #RealEstateNews #MortgageUpdate #FirstTimeHomeBuyer #HomeOwnership #HomeBuyingJourney #RealEstateMarket #CanadianRealEstate #SimcoeCounty #GTARealEstate #DownPayment #RealEstateAdvice #HomeGoals #MVRealEstate

🚨 Exciting Mortgage Rule Updates in Canada! 🚨 Big changes are here that could create amazing opportunities for homeowners and buyers alike. Whether you’re renewing your mortgage, buying your dream home, or looking to refinance, these updates might work in your favor. Here’s a quick breakdown: ✨ Mortgage Renewals – Stress test dropped for uninsured mortgage switches. 🏡 Buying a Home – Updates to insured mortgage options. 💰 Refinancing – Access up to 90% of your property’s value. These changes bring greater flexibility for Canadians, and I’m here to help you make the most of them! 💡 Let’s chat about your mortgage strategy and see how these updates could benefit you. Contact me for a free consultation—call or email anytime. 📞✉️ #MortgageUpdates #HomeOwnership #RefinanceOptions #RealEstateCanada

🚨 Exciting Mortgage Rule Updates in Canada! 🚨 Big changes are here that could create amazing opportunities for homeowners and buyers alike. Whether you’re renewing your mortgage, buying your dream home, or looking to refinance, these updates might work in your favor. Here’s a quick breakdown: ✨ Mortgage Renewals – Stress test dropped for uninsured mortgage switches. 🏡 Buying a Home – Updates to insured mortgage options. 💰 Refinancing – Access up to 90% of your property’s value. These changes bring greater flexibility for Canadians, and I’m here to help you make the most of them! 💡 Let’s chat about your mortgage strategy and see how these updates could benefit you. Contact me for a free consultation—call or email anytime. 📞✉️ #MortgageUpdates #HomeOwnership #RefinanceOptions #RealEstateCanada

💡 Did you know? Extra income can help you qualify for a mortgage! It’s not just about your main job—lenders consider all your income sources! 🔑 What Counts as Extra Income? 🔹 Side hustles or freelance work 🔹 Rental income (like a basement suite) 🔹 Child tax benefits 🔹 Overtime, bonuses, or part-time jobs 💼 How a Mortgage Expert Can Help: ✔️ Include extra income in your application ✔️ Match you with lenders who value all income sources ✔️ Guide you through the approval process to secure the best deal 🏡 Ready to turn your homeownership dreams into reality? Let’s make it happen! Reach out today! ✨ #MortgageTips #ExtraIncome #HomeOwnership #RealEstate

💡 Did you know? Extra income can help you qualify for a mortgage! It’s not just about your main job—lenders consider all your income sources! 🔑 What Counts as Extra Income? 🔹 Side hustles or freelance work 🔹 Rental income (like a basement suite) 🔹 Child tax benefits 🔹 Overtime, bonuses, or part-time jobs 💼 How a Mortgage Expert Can Help: ✔️ Include extra income in your application ✔️ Match you with lenders who value all income sources ✔️ Guide you through the approval process to secure the best deal 🏡 Ready to turn your homeownership dreams into reality? Let’s make it happen! Reach out today! ✨ #MortgageTips #ExtraIncome #HomeOwnership #RealEstate