KITCHENER – WATERLOO CONDOS & LOFTS FOR SALE

Posts tagged “mortgage brokers

Mortgage Pre-Approvals vs Mortgage Approval and why they are different – Kitchener Waterloo condos for sale

Thinking of buying a home?  A great first step is to talk to the bank or a mortgage broker to find out how much you can afford. Keep in mind though that getting pre-approved is very different then getting actually approved.  Have a look at this video where I explain the differences.


Energy Efficient Home Insurance Rebate – Get 10% of your Premium Refunded! – Kitchener Waterloo Condo and loft

Energy Efficient Home Insurance Rebate – Get 10% of your premium refunded!

CMHC-Green-Home Refund

Genworth Energy Rebate Form

Consumers can receive a 10% refund of their mortgage insurance premiums as well as their extended amortization surcharge if they their amortization is more than a 25 years.

Mortgage Insurance Premium Refund 25 years:

$300,000 mortgage @ 95% LTV Premium Payable*
Standard Premium (95% LTV = 2.75%) $8,250
Energy-Efficient Premium Refund (10%) ($825)
Total Premium $7,425

Mortgage Insurance Premium Refund 30 years:

$300,000 mortgage @ 95% LTV Premium Payable*
Standard Premium (95% LTV = 2.95%) $8,850($600) surcharge refund
Energy-Efficient Premium Refund (10%) ($1425)
Total Premium $7,425

The following chart will give you an idea in Ontario for the rating required for the year you purchased.  You will need to have the rating from the builder or qualfied energy advisor.

* Depending on the closing date of your purchase, the Natural Resources Canada (NRCan) Energy-Efficiency Rating required differs:

For purchases with a closing date… EnerGuide Rating Required
On or after January 1st, 2013 82
From April 1st, 2010 to December 31st, 2012 80
From July 27st, 2005 to March 31st, 2010 77

In order to make an application for a refund you will need to  fill out one of the attached forms and send it to your insurer along with and EnerGuide  report showing your house rating.  The supporting documents cannot be older than five years or a new energy efficiency evaluation will be required.  If you renovate your existing home to increase it’s EnerGuide rating by at least 5 points(to a minimum of 40) you can apply for the refund as well.

I have applied and received funds for those that fit the requirements when my clients have bought a house that meets the guidelines.   Please contact me if you are looking to purchase an Energy Efficient Home in 2013 that is 82 or higher.   At Bennett Capital, we will get you the best rate and apply for the refund for you at closing.

Information provided by Tracy Bennett of Bennett Capital. For More information please contact myself kevinbaker@kwhometeam.ca or Tracy at tracy.bennett@bennettcapital.ca  January 25, 2013


Mortgage Plus Improvements and how it works – Kitchener Waterloo Condo and loft

If you are in the market for a new condo and are having trouble finding something that suits or have found something but it needs a bit of work and you may not have the extra money out-of-pocket, then you can get a mortgage plus improvements type product to help make that home a possibility. Have  a look at the video to hear how the product works.


Market Predictions for Kitchener Waterloo Real Estate – Homes and Condos for sale

Hey Everyone, I attended a CMCH housing forecast last week and then on Tuesday of this week I listened to Craig Alexander, Sr. V.P. and Chief Economist for TD Bank give his predictions on where the housing market is going for 2012. Have a listen and hear my brief synopsis on the info I gathered.


Mortgage Pre Approvals.. why they are a good idea! – Kitchener Waterloo Condos for sale

Before you start your home buying search a great first step is to get a mortgage preapproval from your bank or mortgage broker. There are a few key reasons as to why. Have a look at this video to hear some helpful advice.


Inspectors, Lawyers, Mortgage Brokers and Realtors. Putting together the right group – Waterloo Homes for sale

Part 2 in my series on what buyers should be aware of  when looking for a new place. Make sure you put together a great group of professionals to help you with the process. Have a look at the video to hear my thoughts….