Mortgage Alliance Kelli Bugden
2005-200 Sheppard Ave East M2J5B4 Toronto, ON, Canada

If you are feeling overwhelmed by debt it might make sense for you to refinance your mortgage. Accessing equity in your home to pay off high interest debt is a smart financial move. Not only does it reduce interest payments, it can potentially free up more cash each month.

Your credit score determines what loans you qualify for and the interest rate you will pay. Here are 4 tips to help you increase your credit score. 1. Pay all your bills on time. 2. Avoid maxing out your credit. Balances above 50% of your credit limit will harm your credit. Aim for balances under 30%. 3. Have a variety of credit accounts. Having a mix of credit products (credit card, retails store card, line of credit, car loan etc.) will produce more points on your file than... having only one type of credit. 4. Use your credit! The biggest tip to a good score is to use credit and repay that credit on time all the time. See more

Refinancing your mortgage or obtaining a HELOC (home equity line of credit) is a great way to fund a home renovation. You get access to the cash you need at a lower borrowing cost. Reach out today to see the options available to you.

We know that borrowing money is harder for self-employed Canadians which is one of the reasons why working with a Mortgage Broker is so important. Brokers have access to lenders who specialize in self-employed mortgages and understand the challenges that business owners face. If you are self-employed and looking to buy, renew or refinance, send me a message!

A mortgage pre-approval lets you know how much mortgage you can carry based on your qualifications. Being pre-approved for a mortgage saves you time and increases your negotiating power when you find the home you love. If you are thinking of buying, send me a message for a pre-approval. It’s quick, easy and free.

Using a mortgage broker gives you access to lending options you can’t get on your own. We deal with many lenders, from major banks to private lending options. This gives you more choices with one simple call. Reach out today to schedule a free consultation.

Your credit score helps determine how much money you can borrow and the interest rate you will pay. It is important to keep a good credit score. To help with this don’t go over your credit limit and try to use less than 35% of your available credit. It’s better to have a higher credit limit and use less of it each month. For example, if your available credit is $15,000, try not to borrow more than $5,250 at a time, which is 35% of $15,000. If you use a lot of your available credit, lenders see you as a greater risk. This is true even if you pay your balance in full by the due date. If you have any questions, always remember I'm here to help.

Did you know that high interest debt can be incorporated into your mortgage? Get rid of those high interest payments and have more cash on hand each month. Send me a message to explore the options available to you.

Here are 3 reasons why you should use a mortgage broker vs going to your bank for your mortgage: 1. Better Rates Because lenders compete for our business, we get access to discounted rates based on volume and we pass these savings directly on to you. 2. Access to more lenders - When you apply for a mortgage at a bank or credit union, you only have access to the products they offer in house. With a mortgage broker, you get access to dozens of lenders.... 3. Our services are free we are compensated by the lender. Reach out today for your free, no obligation mortgage appointment.

Are you getting ready to buy your first home or move to your next home? The #1 thing you can do is get advice early. Talking with a mortgage professional, like myself, helps you understand: What you can afford Down payment you need Costs involved with buying a home... Improving your credit Prepayment options Refinancing penalties (if you decide to do so down the road) Budgeting and more! Reach out today and let's start the conversation.

If your home will be owner-occupied, then 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. I would be happy to review your situation and discuss your homeownership goals.

More and more first-time buyers are receiving monetary gifts from family members to help purchase a home. In this case, you need a signed gift letter that states the funds are a gift and do not need to be paid back at any time. If you are interested in knowing more about gifted down payments and how they assist your home buying journey, send me a message. Getting information early in the process will save you time and stress.

If you have owned your home for a number of years you have most likely seen large increases in value. You may be surprised to find out you can use the equity in your home to make money. Send me a message to learn more.

Do you want to be a homeowner but don’t know where to start? Send me a message and we can start your free pre-approval. From there, we will discuss your options and you will have all the information you need to start your house shopping journey!

Looking for a summer escape? Many Canadians are finding ways to get away close to home this summer. You may be surprised to find out you can leverage your home equity to purchase a vacation home. Ask me how!

If you are a homeowner and carrying high interest debt, it may be best for you to refinance for better cashflow. Refinancing your mortgage to pay off high interest debt can reduce your monthly interest payments which will put more money in your pocket. Reach out today to review your options.

Refinancing to reinvest in your home is a smart financial move. Not only will you love your space all over again but you will also increase the value of your home when you focus on key renovations like kitchens and bathrooms. Reach out today to learn about your options.

Looking to purchase or refinance your mortgage? Get in touch as soon as possible! Uninsured mortgages (having more than 20% equity) that get approved by June 1st will not be subject to the new stress test announced by OSFI. This means that qualifying could be easier, and it also applies to properties closing after June 1st with a signed Purchase & Sale Agreement. Reach out today.

When it comes to accessing funds for a renovation, you have options! Whether it is through refinancing, a HELOC or alternative credit products, I will work with you to see what's best for you. Reach out today.

Unlocking equity through refinancing or a home equity line of credit (HELOC) is a great way to leverage the value of your house. Refinancing allows you to access equity and possibly obtain a better interest term and rate. Whereas a HELOC lets you keep the mortgage you are currently paying while getting access to a large sum of money. If you are interested in exploring the possibilities available to you send me a message and we can look at your options.

1 in 10 homeowners rent or plan to rent an area of their home (according to Mortgage Professionals Canada 2020 Consumer Report). If you are interested in exploring how a rental income can impact your affordability, send me a message and we can look at your options.

Did you know that 41% of first-time buyers use a Mortgage Broker? I specialize in helping first time homebuyers get approved. If you are ready to buy or thinking about buying, send me a message and we can find the mortgage that's right for you.

Let the equity in your house, work for you! Refinancing your mortgage to renovate your backyard not only adds value to your house it lets you create the oasis you need to escape this summer. Send me a message to discuss your options, my services are free.

If you are in the market to buy, send me a message for a pre-approval to find out how much you can afford. To help with the process, I included a list of items below you will need: ID Proof of employment Proof you can pay the down payment & closing costs... Info about any other assets you have (car, cottage, boat, etc.) Info about any debts or financial obligations that you have See more

Here are 7 tips to help you get approved for a mortgage: 1. Check your credit score 2. Save a larger down payment 3. Keep your income stable... 4. Pay down existing debt 5. Get a mortgage pre-approval 6. Get a great rate 7. Know what you can afford and what you can’t See more

It’s that time of year just a reminder to all our first-time home buyers to take advantage of the Home Buyers Tax Credit (HBTC). It can give you up to $750 in tax relief. https://www.canada.ca///line-31270-home-buyers-amount.html

It’s that time of year just a reminder to all our first-time home buyers to take advantage of the Home Buyers Tax Credit (HBTC). It can give you up to $750 in tax relief. https://www.canada.ca///line-31270-home-buyers-amount.html