Tag Archives: http://www.peterpaley.com/

Build It ! Two mortgages to help you build your dream home — Contact Mortgage Broker Peter Paley

 

Peter Paley
Mortgage Associate

204.227.2744

Your Home & Mortgage

Give yourself some credit

When your mortgage application is being considered, your lender will look at your credit habits: do you pay your bills on time? Do you tend to get over-extended on your credit card? These habits are reflected in your credit rating. In order for your lender to assess your borrowing profile, you’ll need two revolving sources of credit that are each at least two years old.

Worried that some sloppy financial habits might keep you from a great rate or even from getting a mortgage? Here’s the thing: you can give yourself some credit. This important factor in your mortgage negotiation is entirely within your control. Start now to develop good credit habits:

  1. Pay every bill on time. That one habit is your single biggest game-changer.
  2. Don’t run up your credit cards. Use the 50% rule. If your limit is $5000, never let the card go higher than $2500.
  3. Don’t ever let any bill go to collections, even if it’s for a small or disputed amount. These black marks on your credit are hard to erase. If it’s happened, be prepared to explain why, and be sure it’s paid in full and reported to Equifax.
  4. If you’ve ever been bankrupt or under a consumer proposal, you’re going to have some extra challenges. You’ll need to have been discharged for two full years. And you’ll need to prove that you’ve re-established credit after the discharge, with at least two re-established revolving credit items and two-year history of satisfactory repayment. Strong income and downpayment will help.

If you’re wondering how to polish up your credit, get in touch. I can review your situation and give you some tips on how to boost your credit rating. What are you doing next week? It might be a perfect time to get started.

 

Build It! Two mortgages to help you build your dream home

Completion Mortgage. Just like it sounds, this is for situations when you don’t need to actually come up with full funding until the home is complete and move-in ready. You’ll need to provide a down payment when you make an offer to purchase the planned home, and then the mortgage you are approved for is advanced to the builder at possession.

Progress Draw Mortgage. This mortgage will give you funds at specific intervals as the house is built. Generally, you’ll need to provide a progress report and have an inspection in order to secure the next “draw” of funds. While the number of draws can vary, it is common to have three draws: one at rough-in, one at completion, and a final draw when you take possession of the home. Once the home is completed, the mortgage will be converted to a conventional home mortgage.

Be prepared! Get me involved as early as possible in the process. I’ll outline everything you need to consider and all of the documentation you’ll need, so you can dream on!

Peter Paley
Mortgage Associate
204.227.2744

Thank you to all the Mortgage Brokers who I have worked with through 2015

Purchasing a home is the largest financial investment many people make in their lives, and I will go the extra mile to assist them in the process.
 
Being a Realtor means more to me than simply selling homes; it is about building relationships with my clients based on TRUST, KNOWLEDGE, and EXPERTISE.
 
As a Realtor of 20 years in the business, I worked hard to provide my clients a Network of Business that will provide a easier time to get the service needed to purchase or sell their property.
 

Message from Realtor Rosalie Drysdale

 
Coming to the end of your term with your mortgage, needing to resign for the next five years. Contact one of the Mortgage Brokers from my website
 
http://999-rose.ca/wp/services/financial/

Contact one of the Mortgage Professional below to help you with the progress and let the Mortgage Broker know who referred there services to them.

Daryl Harris Daryl Harris @ http://www.winnipegsbestmortgage.com

Follow Daryl on twitter@wpgsbestmtg

 

Justin Hintz - 1Justin Hintz @www.justinhintz.com

Follow Justin on twitter@justin_hintz

 

Leonard mcAuliffeLeonard mcAuliffe @ http://www.thatmortgageguy.ca

Follow Leonard on twitter @wpgmortgageguy

 

 Kevin Stefanson - Mortgage Broker Kevin Stefanson@ https://www.castlemortgagegroup.ca/brokers/30

Follow Kevin on twitter@mortgagebykevin

 

Peter Paley Peter Paley @ Invis Canada’s Mortgage, http://www.peterpaley.com/

Follow Peter on twitter@PeterPaley

 

Lisa J. Gryba Lisa Gryba @ One Link Mortgage Financial, http://lisagryba.com/

Follow Lisa on twitter@LisaJGryba

 

TRENA-Taylor -- The Mortgage Mogul 1 Trena Taylor @ Winnipeg,  http://themortgagemogul.blogspot.ca/

Follow Trena on twitter@mortgagemogul_

 

If you are wanting to deal with a Credit Union ,please contact

Cory Papineau -- Assiiboine Credit Union Cory Papineau @ Assiniboine Credit Union , 2659 Pembina Highway

Follow Cory on twitter@Iam_Canadian

 

If you are in the Market to Sell or Purchase a Home or Condo,

Please Contact me Realtor Rosalie Drysdale

The Five Signs of a Successful Sale

999-rose -- For Sale999-rose -- For Sale QR Code999-rose -- Open House Small Sign999-rose -- Open House999-rose -- Sold