Clayton Stenson

If your home will be owner-occupied, you need 5% down for the first $500,000 of the purchase price, and 10% for any amount over $500,000 up to $999,999. If the purchase price is $1,000,000 or more, the minimum down payment is 20%. According to CMHC’s Mortgage Consumer Survey, most homebuyers are accessing their savings or equity from a previous home for their down payment. Followed by RRSP savings and gifts from family members. If you have any questions about the down payment options available to you and how to use them, send me a message!

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If your home will be owner-occupied, you need 5% down for the first $500,000 of the purchase price, and 10% for any amount over $500,000 up to $999,999. If the purchase price is $1,000,000 or more, the minimum down payment is 20%. According to CMHC’s Mortgage Consumer Survey, most homebuyers are accessing their savings or equity from a previous home for their down payment. Followed by RRSP savings and gifts from family members. If you have any questions about the down payment options available to you and how to use them, send me a message!

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I went back to update my original renovation budget from 2016-2018 for a cost segregation study. Here's what I learned from it. 🙌 I did a great job of record keeping including scanning draw checks together with their respective invoices. 💸 The total renovation costs were actually not over budget as I had previously thought. In the midst of the rehab I stopped inputting the numbers into the spreadsheet because it felt like "death by a thousand invoices" 🔪 💻 Next to my proforma is a column with my ACTUAL costs. 💡 🛑 The mistake I made was to stop inputting the actual costs as I paid them. However, due to decent record keeping practices which I learned from the developer I worked for, I was able to accurately update the actual cost budget 6 years later. It's a great reminder to not procrastinate, keep good records, and complete the important tasks in the moment.

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🍂 Our October Lunch & Learn is SOLD OUT! 🥪 This month, Tamara Pals, CFP® and I will be discussing bookkeeping basics. DM me if you want to be notified about the next one! 😮 #bookkeeping #jirahgrowth #clearworthfinancial #businessfinance

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Wednesday Wisdom – Experiment Is the way you’re progressing the ‘best’ way to do it right now? Is it possible that there might be another delivery method that will: ➡️ Get you to the end quicker ➡️ Expend less resources ➡️ Be easier ➡️ Be more comfortable and/or enjoyable How often do you consider that your ‘way’ might have a sell-by date and that there could be alternative options on how to move towards your goals? I would offer up that you have more avenues to explore than you think you do, and the key is to create the space to consider and explore these. Let me know in the comments below how often you truly consider experimentation in delivery methods 👇🏼 #coaching #wednesdaywisdom ------------------------- Ready to elevate your life or business? Connect with me for coaching, speaking, education, or business consulting support. Book a free 30-minute call now at garygillan.com

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What HouseSigma Can’t Do Do you solely rely on the price estimation on Housesigma? If you do, you can be completely pricing the home incorrectly. This can mean you’re leaving a lot of money on the table if you’re a seller. If you’re buying, then you might be overpaying. Watch this video to see how appraisers and realtors price homes.

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A Home Equity Line of Credit (HELOC) lets you tap into your home's equity, providing flexible access to funds when you need them. 💳 Wondering if a HELOC is the right choice for you? Reach out to learn more! 💬

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A Home Equity Line of Credit (HELOC) lets you tap into your home's equity, providing flexible access to funds when you need them. 💳 Wondering if a HELOC is the right choice for you? Reach out to learn more! 💬

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Eligible improvements generally include structural repairs, renovations, or upgrades that increase the value of the home. These can include: > Kitchen or bathroom remodels > Roof repairs or replacement > Adding a new room or extension > Energy efficiency upgrades (e.g., new windows, insulation) > Electrical or plumbing updates Cosmetic upgrades, such as painting or furniture, typically do not qualify.

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If you're ready to learn more about buying and selling, click below!

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Here is a quick building update: We gave our building a facelift! 🤩 If you remember in our early building update videos, we used to have glass showcases on either side of the building entrance. We ripped all of these out and now our building is going to be flush with the street. This way, it will eliminate loitering outside of the building, which will allow for our clients and residents to live and work in a quiet place. By doing this, we gained about 200 square feet of usable and rentable space! 👏🏼 This was not in our original plan, we pivoted on our permit and our design to add this in! When we’re done, there will be stucco + brand new black glass to finish it off. We are excited for this update and we’ll show you the results when it’s done!😍 Agent #M22001651 | License # 12360 #themortgagearchitect #buildingupdate #newbuilding #renovations #mortgageagent #mortgagetips #canadianrealestate #MortgageTopics #Canada #ReachOut #clients #conversionprocess #constructionprocess #businessowner #mortgagelife #residents #TorontoOn #CambridgeON #KitchenerOn #realestatemarket #Worktogether

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Dreaming of a home renovation but concerned about the costs? There are plenty of financing options to help you transform your space! 1️. Mortgage Refinancing: Tap into up to 80% of your home's value by refinancing your mortgage. 2️. Purchase Plus Improvements (PPI) Mortgage: Bundle renovation costs into your mortgage when buying a new home. 3️. CMHC Mortgage Loan Insurance: Add renovation expenses to your mortgage with as little as 5% down. 4️. Line of Credit or Home Equity Loans: Use your home’s equity for a flexible renovation fund. Contact me to explore the best financing option for your renovation!

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Estate planning isn't just for the wealthy. Ensure your loved ones are taken care of by creating a will and setting up trusts if needed. Consult an estate planner for personalized advice. Protect your family's future! #EstatePlanning #FamilyProtection

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Spam "leads" and "inquiries" have really increased. For me its a sign of the market. I haven't received an inquiry from a king or prince in a far away land yet however that's next. There was either a recent seminar or a script video circulating out there. My favorites: - "Recently sold a business, my CPA said I need to deploy capital" - "Wow, this has been on the market for a while, we'd offer half the list price but could close quickly, let me know if this will work" - "Have extra cash, need to buy something right away. Why should I buy this property?" Deals are still transacting however it depends on the seller motivation, location, asset type, and pricing (among other factors). There are a lot of bird doggers out there making offers on properties with no experience and don't have the money to buy them. This is obvious but avoid clicking on attachments and links from people you haven't made contact with. Sample below. Anyone else experiencing the same? #multifamilyinvesting #leads #sales

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PART 2 - how much income do you need to offset $100 of debt payments? If you were in this situation, and you missed qualifying because of a $100 debt payment, what would you rather do, increase your income, pay off debt, or increase your down payment? Discuss in the comments! 👇🏻 #mortgage #personalfinance #canadianfinance #canadianrealestate #buyingahome #mortgagetips #debtfree #mortgagefreedom #northbayrealestate #northbay #firsttimehomebuyer #entrepreneur #entrepreneurship #smallbusiness #smallbusinessowner Joel Arndt Mortgage Agent Level 2 Sherwood Mortgage Group Brokerage license 12176

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Before you dive into the exciting world of home shopping, getting pre-approved for a mortgage is a crucial first step! Here’s why: 1️. Know Your Budget: Pre-approval gives you a clear idea of how much you can afford, helping you focus your search on homes within your price range. 2️. Strengthen Your Offer: Sellers take pre-approved buyers more seriously, which can give you a competitive edge in a hot market. 3️. Streamline the Process: With pre-approval, you’ll speed up the mortgage process once you find your dream home, making for a smoother transaction.

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