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First time homebuyers mortgage guide

Exclusively for members of The Education Community and their families. First time homebuyers mortgage guide. Welcome!. Bruce Sellery

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First time homebuyers mortgage guide

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  1. Exclusively for members of The Education Communityand their families First time homebuyers mortgage guide

  2. Welcome! Bruce Sellery Founder of Moolala, a personal finance training company focused on inspiring people to actively manage their money. Bruce spent the last decade as an anchor at CTV’s Business News Network, in Toronto and New York. Pat Bellissimo Pat has a passion for sharing her knowledge of successful financial strategies. An expert on mortgages, Pat has successfully helped hundreds of clients with mortgage solutions tailored to their financial needs.

  3. Educators Financial Group • Established in 1975 • Started with mortgages • Today • Planning – Investing - Lending • Assets under management: over $500 million • 16,000+ clients (Ontario and British Columbia) • Experienced and qualified experts Unique, exclusiveadvantages for educators We know members of the education community best!

  4. About this webinar Will I be able to get a copy of the slides after the event? Is this webinar being taped so I and other can view it after the event? Yes Yes

  5. What we’ll cover today • How much can I afford? • What type of mortgage is right for me? • Frequently asked questions • Tips on how to be mortgage free faster • How do we actually do it?

  6. What is fantasy… and what is reality?

  7. How much of a down payment do I have?

  8. Is it enough?

  9. Take control of your budget Have options: know where your money goes.

  10. What can I afford… upfront? $1025.86 Your monthly mortgage payment on 195,225.00 ($190,000. plus 5,225.00premium) would be*: * Based on a 25 year amortization period and a 5-year closed term at a X% mortgage rate

  11. Any questions?

  12. What type of mortgage is right for me?

  13. There are many things to consider

  14. Summer Freedom Be sure to shop around for the best rate • One of Canada’s lower cost mortgage provider • Uniqueand exclusiveto the education community †Based on our comparison of posted rates for 5-year fixed mortgages. Not all offerings have the same features. For illustration purposes and based on where there has been a rate change Call for a quote: 1-800-263-9541 - 416-752-6843

  15. There are many things to consider

  16. Any questions?

  17. Frequently Asked Questions

  18. Why buy mortgage insurance? • Protect what you already have • Applying is easy • Coverage is quick + = Peace of mind Right mortgage Right protection www.teacherslife.com 1-866-620-LIFE (5433)

  19. Simplify your work by partnering with the right professionals • Right real estate agent • Home inspector • Lawyer / solicitor • Lender (and property appraiser)

  20. But will I get the money? “My friend had a 20% down payment. How could his mortgage application have been declined by his bank?” • Past credit history • Beacon Score of 625+ • Current cash flow • GDSR / TDSR

  21. More costs to consider • Movers • Cosmetic (e.g. painting) • Appliances • Furniture • Alarm system

  22. We’re here to help Leverage the expertise of our mortgage specialist to help you identify • What you can afford • What type of mortgage is right for you • How you can be mortgage free faster Why is Educators Financial Group different? • Exclusive to the education community • We know educators best! • Unique products and services tailored to educators

  23. Any questions?

  24. Five ways I can be mortgage free faster • Get the lowest rate you can • Pay weekly (or bi-weekly) instead of monthly • Increase your monthly mortgage payment • Make a yearly lump sum payment • Pay weekly, increase your payment, and make a lump sum payment Small changes make a big difference in the long run.

  25. Accelerate and make lump sum payments Based on a $200,000 mortgage (5-year fixed term / 25-year amortization period) and a 5.5% rate.

  26. How do I actually do it? • Book a mortgage call 416-752-6843 1-800-263-9541 • Sign up for the A-list www.educatorsfinancialgroup.ca

  27. Thank you! Bruce Sellery Pat Bellissimo The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be, the rendering of tax, legal, accounting or professional advice. Attendees and readers should consult a financial planner and their own accountant and/or legal advisor for specific advice related to their circumstances. Educators Financial Group will not be held responsible or liable for any losses, costs, damages or expenses incurred by reason of reliance as a result of the aforementioned information. The information presented was obtained from sources that are believed to be reliable. However, Educators Financial Group can not guarantee their completeness or accuracy. Commissions, trailing commissions, management fees and expenses may all be associated with mutual funds. Please read the simplified prospectus before investing. Mutual funds are not guaranteed, their value changes frequently and past performance may not be repeated.

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