All Star Mortgage
Toronto, ON, Canada M5H Toronto, ON, Canada

Deferred Mortgage Payments. When the COVID-19 crisis hit at the beginning of 2020, millions of Canadians saw their income reduced significantly or lost it altogether. Renters struggled with rent payments; homeowners were worried about meeting their monthly mortgage payment. The government took widespread measures to provide citizens with financial support during the pandemic through programs like CERB. Mortgage lenders stepped up with payment deferral programs to help homeown...Continue reading

Mortgage Broker VS Bank: Why Are Brokers The Obvious Answer? Qualifying for a mortgage is not a decision that should be made hastily. It takes deep consideration and attention to the details of your life that might affect your mortgage qualifications. You should have a stable credit and job history among other key factors that will affect your interest rate and ability to get a loan.... When you go to apply for a mortgage loan, you will need to decide whether you should go through a direct lender or a broker. A direct lender is usually the bank which will loan you the money out right and then you will pay them back in installments. A broker will find a direct lender for you to work with. At this point you are probably wondering why some people may choose to go through a broker rather than directly through the bank. A broker has relationships with some of the best mortgage lenders around. They have the ability to bargain with the lender in a way that would benefit you better than if you went there directly. While a broker may cost a very small fee, the money you save over the course of your mortgage is well worth it. Not to mention, a broker can usually get your interest rate lowered and is always knowledgeable of the latest mortgage rate averages. Benefits of Going through a Broker It saves you from doing any of the work and research You are more likely to save money Brokers are very educated in the market and pay close attention to the average mortgage rates, which tend to change often Brokers have access to many lenders Brokers only work with the most reliable mortgage lenders They can have the mortgage loan customized to suit your needs more efficiently There are extensive advantages of going through a mortgage broker rather than through a lender. Of course, it’s automatically assumed that going to the direct source might be best, but lenders aren’t always so willing to wheel and deal with its clients. However, if you are a long standing broker that works with the company and helps to get them business, they are more likely to be flexible and willing to work with you. For all financing needs get a professional advice from our mortgage brokers by calling us at 416 LENDING (416 536 3464) or email at [email protected] to secure your Mortgage today! Visit us at www.AllStarMortgage.ca #mortgageontario #Ontario #allthingstoronto #torontogta #the6ix #the6 #torontointeriordesign #torontobusiness #torontocanada #torontorealty #torontointeriordesign #torontodesign #torontocontractor #torontorenovation #torontop #richmondhill #Rexdale #Vaughan #Mississauga #Oakville #Brampton #kingcity #concord

Variable or Fixed Rate Mortgage? Which Is Better? Many people wonder if a variable rate mortgage is the better choice compared to a fixed-rate mortgage, particularly in today’s uncertain economic times. For instance, recent rate increases have persuaded many to opt for a fixed-rate mortgage over a variable rate mortgage, as it provides added security and certainty. However, there is a price to pay for said security, as fixed-rate mortgages tend to cost more than their varia...ble counterpart. Reduce Your Debts With a Variable Rate Mortgage By opting for a variable rate mortgage, you can take the lower payment and use the savings to reduce your other debts. For example, you can use the money to pay down a line of credit or reduce your credit card debt (or other such higher interest rate debts). You can also use the money to accelerate loan repayments on some of your personal loans. Moreover, you can keep the additional cash in liquid savings for use in the not too distant future, or you can invest in your child’s college education via RESPs, or even invest in your retirement via RRSPs. Furthermore, if the economists are wrong, and the prime rates don’t increase, then the variable rate mortgage will still come out more favourably over its fixed-rate counterpart. As an added benefit, variable-rate mortgages offer the same repayment options as other mortgage packages. You also benefit from reduced payout penalties if you need to sell in the foreseeable future. Contact Us At AllStarMortgage.ca, we can help you determine what kind of mortgage is best suited to your financial and lifestyle needs. Call our Brokers at 416 LENDING (416 536 3464) or email at [email protected] to secure your Mortgage today! Visit us at www.AllStarMortgage.ca #mortgageontario #Ontario #allthingstoronto #torontogta #the6ix #the6 #torontointeriordesign #torontobusiness #torontocanada #torontorealty #torontointeriordesign #torontodesign #torontocontractor #torontorenovation #torontop #richmondhill #Rexdale #Vaughan #Mississauga #Oakville #Brampton #kingcity #concord

Is Investing in Real Estate Safe? Although the Canadian economy may be going through a recession, the Canadian housing market is rebounding quickly from the pandemic lows. July saw a surge in Toronto house sales, a clear indication that market conditions are improving. Canada’s Housing Market: By the Numbers... July was a record-breaking month for the housing market, as sales and new listings extended their recovery. The national average sale price increased 14.3% annually as housing supply rose in only 60% of local markets. Housing inventory days on market fell to just 2.8 months, the lowest on record. RBC Economics Update Canada’s real estate landscape is living up to its reputation as a stable, resilient market. Listings and sales have rebounded sharply despite the ongoing pandemic. With inventories falling to record lows, the upswing is expected to continue through the early fall. AllStar Mortgage will continue to analyze market changes and keep you updated on a regular basis. To learn more about our investment opportunities, fill out the online form at www.AllStarMortgage.ca , and one of our Investment Managers will reach out to you within 24 hours. Contact Us At AllStarMortgage.ca, we can help you determine what kind of mortgage is best suited to your financial and lifestyle needs. Call our Brokers at 416 LENDING (416 536 3464) or email at [email protected] to secure your Mortgage today! Visit us at www.AllStarMortgage.ca #mortgageontario #Ontario #allthingstoronto #torontogta #the6ix #the6 #torontointeriordesign #torontobusiness #torontocanada #torontorealty #torontointeriordesign #torontodesign #torontocontractor #torontorenovation #torontop #richmondhill #Rexdale #Vaughan #Mississauga #Oakville #Brampton #kingcity #concord

What Comes First: Selling Your Home or Buying a New One? When it comes to buying and selling your home, there is no single best way to get the deal done. Some homeowners prefer the safety net of selling their home before they buy their next one. Others are willing to pay for two homes until they can sell their old one for the right price. There are advantages and disadvantages to both approaches, and you’ll want to get some advice before you decide....Continue reading