Thursday, January 26, 2012

On the market!

313 Pine Avenue, Oshawa


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$204,900
Single Family Home
Main Features
3 Bedrooms
2 Bathrooms
Lot: 6,567 sqft
Location
313 Pine Ave.
Oshawa, ON L1J 2H4
Canada

To get updates on open home dates and other property events, please click the "Like" button below:


Stephen Young

Stephen Young

Keller Williams Energy Real Estate Brokerage
905-723-5594
GetStephen@live.ca
http://www.GetStephen.com




Listed by: Keller Williams Energy

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Tuesday, January 17, 2012

Canadian Homeowners: 1 simple tip to save THOUSANDS!

I had an fascinating conversation with a mortgage broker the other day about renewing current homeowners renewing their mortgages, and what he had to say, SHOCKED me!  He gave me some statistics that the Canadian Mortgage and Housing conducted and I couldn't believe it.

FACT #1:  89% of homeowners remain with the same lender.

FACT #2:  68% of homeowners just accept the renewal from their current lender.

So what is the problem?  The original lender must be offering the best rates, right?  Sadly, the answer is likely "no".

Often, the original lender will offer you a "much better rate" as a "preferred customer" for your loyalty to the company and will be able to save you tremendous savings from the posted rates.  This is all true, but they can do better.

This can be best illustrated with an example:

example:  $250,000 mortgage, 5 year fixed term, 25 year ammortization, paid monthly

The lenders "posted" rate may be 5.29%, which is quite common in January 2012.  As a cherished and preferred customer, they might offer you a rate of 3.79%.  WOW!  Where do I sign!?  Right?

Hold on!  The problem is that an even better rate can be easily obtained, and it only takes a phone call to a mortgage broker.

In January 2012, rates of 3.29% can easily be found, through more than one lender.  Yes, HALF a percent difference than your "preferred customer" rate.  So you might be thinking, does it really make a difference?  Here's the math:



Rate                                           3.79%                          3.29%

Monthly mortgage                  $1286.75                     $1220.63

           Monthly savings:           $66.12
           Five year savings:      $3967.20


Using the figures in the example above, a homeowner can save just shy of $4,000.00 in five years by simply making a phone call and merely shop around.  Most brokers do not charge a fee for inquiries or advice and there are no legal costs when transferring a mortgage at the end of a term. 


If you agree with me, you can contact me at GetStephen@live.com or at my office at 905-723-5944.  I urge you to make a phone call to a local mortgage broker right away, especially if you are up for renewal soon.

The agent that inspired me to write this blog is John Greenlee at The Mortgage Centre.  He can be contacted at jgreenlee@durhammortgage.com or at 905-436-8010.

Happy savings!

Stephen Young
www.GetStephen.com





Monday, January 02, 2012

Hot new listing in Oshawa!

Incredible Semi-Detached in Oshawa


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$209,900
Single Family Home
Main Features
3 Bedrooms
3 Bathrooms
Lot: 3,000 sqft
Location
992 Florell Drive
Oshawa, ON L1H6W5
Canada

To get updates on open home dates and other property events, please click the "Like" button below:


Stephen Young

Stephen Young

Keller Williams Energy Real Estate Brokerage
905-723-5594
GetStephen@live.ca
http://www.GetStephen.com




Listed by: Keller Williams Energy

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