Finances | Evelyn Lopes Realty Team_Blog

Monday, July 24, 2023   /   by Evelyn Lopes- Klarine

REVERSE MORTGAGES CANADA: Unlocking the Value of Your Home Equity

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Unlocking the Value of Your Home: A Deep Dive into Reverse Mortgages in Canada
As Canadians, we treasure our homes - they hold our memories, our dreams, and a significant chunk of our wealth. If you're aged 55 or older, did you know you can tap into the value of your home without selling it? Welcome to the world of reverse mortgages - a financial tool seeing annual growth rates of over 28%.
Unraveling the Reverse Mortgage
In simple terms, a reverse mortgage is a loan that allows homeowners to convert up to 55% of their home's value into tax-free cash, providing an avenue to unlock equity built over the years. The loan is secured against the value of your home, with repayment required only when you decide to move or sell. One of the most attractive features is the flexibility in payment options - you can choose to make monthly payments or opt for a no payment option.
Reverse Mortgage Benefits
Reverse mortgages present a ...

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Tuesday, April 25, 2023   /   by Evelyn Lopes- Klarine

PRE CONSTRUCTION UNITS_ Investing & Financing Tips

PRE CONSTRUCTION UNITS_ Investing & Financing Tips

Are you considering investing in builder pre-construction units but not sure where to start? Look no further! In this blog, we'll be sharing valuable insights and tips from a mortgage specialist and discussing important considerations you need to know about investing in pre-construction units. We'll cover the potential benefits, the risks involved, and how to mitigate them. Plus, we'll dive into the financing options available so you can make an informed and strategic decision. 

Investing in pre-construction units can be a great way to grow your investment portfolio and build long-term wealth. As we've discussed in this blog post, there are potential benefits and risks involved in this investment strategy, and it's crucial to have the right guidance and information to make informed decisions.

One of the primary benefits of investing in pre-construction units is the flexibility of deposit structures, allowing investorsm ...

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Tuesday, April 11, 2023   /   by Evelyn Lopes- Klarine

MORTGAGE RENEWAL TIPS What you need to know

MORTGAGE RENEWAL TIPS What you need to know
If you're a homeowner, navigating the world of mortgages can be overwhelming. But fear not, as we've got you covered with some expert tips and best practices for mortgage renewals and refinancing.
First up, let's talk about mortgage renewal. When your mortgage term comes to an end, it's important to shop around and find the best rates available. Don't simply accept the first offer from your current lender. You may be able to negotiate a better rate or terms with another lender, or even with your current lender. Keep in mind that you are looking for the best rates as well as the most favourable terms that will be a benefit to your particular situation. It is not just about the rate.  It's always worth taking the time to explore your options and make an informed decision.
Refinancing and lines of credit are two options for homeowners who have equity in their home and want to optimize their cash flow or take advantage of the equity in th; ...

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Monday, March 27, 2023   /   by Evelyn Lopes- Klarine

Refinancing, Mortgages & Money

Refinancing, Mortgages & Money
Welcome to another episode of Realty Bytes - Conversations on Real Estate and Lifestyle.With your host, Evelyn Lopes, and today’s special guest, mortgage agent Walid Mutahar. In this episode, they discuss mortgage financing and specifically, the topic of refinancing.

Refinancing can be an excellent option for homeowners looking to lower their monthly mortgage payments, access their home equity, or even shorten the term of their loan. But why would someone want or need to refinance? Well, there are several reasons. One of the most common reasons is to take advantage of lower interest rates. If you can lower your interest rate by even a half a percentage point, it can save you thousands of dollars over the life of your loan.

Another reason people refinance is to access their home equity. Home equity is the difference between the current market value of your home and the amount you owe on your mortgage. Refinancing can allow you to tap int ...

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Monday, March 20, 2023   /   by Evelyn Lopes

Expert Insights: Navigating Mortgage Fundamentals with Ease

Expert Insights: Navigating Mortgage Fundamentals with Ease
In this inaugural episode of Realty Bites, host, and realtor Evelyn Lopes of The Evelyn Lopes Realty team and iPro Realty Brokerage, introduces Walid Mutahar, a mortgage agent with Garland Mortgages.
Walid joins the podcast to discuss some of the fundamentals involved when a person is looking to get or change a mortgage. The conversation touches upon current national and local market conditions, how they impact buyers and sellers, and they provide tips and education on real estate and lifestyle topics. Walid also shares his insights on the mortgage market over the past year and where he thinks mortgages are heading this year. He notes that in 2021, rates bottomed out at close to zero, leading to skyrocketing prices as everyone tried to lock in low rates. However, in 2022, rates started to slowly creep up based on inflation numbers, with the Bank of Canada increasing the prime interest rate or key interest rate, which aff; ...

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