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Kunaal Bhalla
Looking for Mortgage Broker ? ..... Before you call Remember KUNAAL!
Looking for Mortgage Broker ? ..... Before you call Remember KUNAAL!
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This month’s newsletter looks at the upcoming mortgage changes and who they will affect (just about everyone). Please let me know if you have any questions or feedback regarding anything outlined below.
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Is your Mortgage up for renewal in 2018 prior to April 27th??? …. and do you anticipate needing to refinance to consolidate any debt, or for any future large expenses such as a home renovation project or would just like to have some cash put aside for a rainy day. If the answer is YES, then I would recommend speaking to a Mortgage Professional today! The Federal Government recently announced they would be changing rules for Mortgage Qualifying. These new rules come into effect on January 1st, 2018 and will significantly impact that amount of mortgage you can qualify for moving forward.

Be PROACTIVE and speak with a Mortgage Professional now. Obtaining an approval before the end of the year, prior to the new rules taking effect, could make the difference in being able to access the equity in your home that you need.

If your renewal date falls after April 2018…. don’t despair. It may make sense to refinance early, and get you what you need before the rules change. Breaking your current mortgage with only a few months remaining on the term is less expensive than breaking it when there are a few years left. A Mortgage Professional can guide you through the numbers to see if it makes sense.

If you have any questions about the regulation changes, and how they might affect your current and future mortgage needs, don’t hesitate to contact me for an Expert & Unbiased opinion.
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