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Carol's-Venture "Your strength is greater than any challenges you face. Jus keep going, for you are on the path to greatness."

21/11/2024

Why your credit score is very important when buying a home in Canada:
Here are some reasons
⭐️Lenders use credit scores to determine eligibility
⭐️Lenders use your credit score to assess your ability to repay a mortgage and how well you manage your finances.
⭐️Credit scores affect interest rates and mortgage amounts
⭐️Your credit score can affect the interest rate you're offered and the amount of the mortgage you're approved for.
⭐️Lower credit scores can mean higher interest rates
⭐️Borrowers with lower credit scores may be offered higher interest rates and may need to pay for private mortgage insurance (PMI).
⭐️You can build up your credit score if it's too low for the mortgage you need.
❤️A good credit score can help you get approved for a mortgage with favorable terms and a low interest rate.
Hope it Helps🥰

20/11/2024

Which is better to use a Mortgage Broker or Bank?

✅Want more mortgage options?
The bank will only offer you its own products and rates. By contrast, a broker can connect you with a broad variety of lenders and their offers. A broker does the “shopping” for you, they can save a lot of the legwork it would take you to compare individual lenders on your own.
✅How strong is your financial situation?
Banks are federally regulated offering prime mortgages that will have more stringent mortgage application requirements (including mortgage stress tests).
👉 If you qualify for a prime mortgage directly through a your preferred bank, that could be a good option.
👉Want to explore a broader range of options – including bank and alternative mortgage products then working on a mortgage broker is an option.
✅Consider where can you get the best rate?
👉As we mentioned, brokers have the ability to compare options from multiple lenders in order to find the best interest rates. Brokers can also work to negotiate lower rates on your behalf.
👉However, if you have an established relationship with a bank, you may be able to get a special rate for being a loyal client.
✅How would you rather manage your finances?
If you rather to have all of your finances in one place, you may want to take out a mortgage through a bank where you already have accounts.
👉On the other hand, if you value maximum savings and can secure a better interest rate through a broker, it may be worth having separate providers for your mortgage and personal banking needs, respectively.
Lastly:
Be sure to consider their pros and cons, as well as your personal finances and preferences. Whatever is your choice serves your goals and your mortgage needs. 🥰

19/11/2024

Choosing your location is very important when buying a house in Canada or any country.
The right location can impact your lifestyle, the value of your property, and how well it holds its value over time. Needs to be choosy this time.
Here are some factors to consider when choosing a location to buy your home:
♻️Amenities: How close the property is to schools, shopping, parks, and public transit
♻️Development: Whether there are plans for new schools, hospitals, public transportation, and other infrastructure
♻️Safety: The crime rate in the area, and whether there are security measures in place. Your safety is very important.
♻️Transportation: How accessible transportation options are
♻️Neighborhood: The overall desirability of the neighborhood

The more desirable the location, the more expensive the housing will be. You'll need to balance what you can afford with your desired lifestyle. 🥰

18/11/2024

Some tips on how to save a down payment in Canada

✅Pay off your high-interest debts as fast as you can
✅Save your income tax refund
✅Identify areas where you spend too much and limit yourself
✅Set up automatic transfers to a saving account
✅Make a reasonable budget for yourself and your household and save the rest
✅Move to a more modest rental
✅Sell or downsize your car
✅Find an income booster such as a part time job or doing odd job
✅Ask for a raise at work
✅Put your savings money aside first then spend the remainder
Hope it helps..🥰

15/11/2024
As a mother life wasn’t that easy but if you are tired just take a moment, take a breaky then keep going. Your family re...
22/10/2024

As a mother life wasn’t that easy but if you are tired just take a moment, take a breaky then keep going. Your family rely on you so be strong and smile 😊 whatever circumstances you are in..

25/04/2024

💥Some key things to consider in buying your 1st home in Canada.
❌Disclaimer: I am not a financial advisor but just sharing may experience, you need to do your diligent research too.
1. Budget- Calculate your affordability, including mortgage payments, property taxes, insurance and maintenance cost.
2. Credit Score- Ensure your credit score is good as it affects mortgage rates and approval.
3 Mortgage Options- Use Mortgage broker to search you different banks that offer your best interest, or you can always use your bank.
4. Location- Consider factors like commute time, schools, safety, public transportation and local amenities.
5. Home Type- Decide between a detached house, condo, townhouse, or semi-detached, based on your needs and budget.
6.Home Inspection- Considering hiring a home inspector to identify potential issues with the property
7. Closing Cost- Budget for additional fees for legal appraisal, lawyer fees and more.
8. Taxes and Incentives - Research tax credits (Example for First time Home buyers' tax credit) and provincial incentives.
9. Professional Guidance- Work with a real estate agent. lawyer and financial advisor to ensure a smooth process.
10. Resale value- Consider the potential for future resale value and how the property may appreciate over time.

I've been doing real estate for a couple years and this is my first time to attend this seminar workshop with Co-Filipin...
22/04/2024

I've been doing real estate for a couple years and this is my first time to attend this seminar workshop with Co-Filipino investors.
👉My way of learning was through watching Youtube vlogs but this workshop inspired me seeing other kababayan having multifamily rentals is very inspiring.
🙏🙏🙏By God's grace darating din tayo dyan of course wtith the right mindset and right people. 🥰

22/04/2024

Repeat positive statements to yourself, such as "Today will be a great day. "
Happy Monday

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