funding next exit

Neighborhood Grant applications and information

Neighborhood Grant applications and information

If you have properties in:

Centennial, West Alexander or Central Park

Centennial Community Improvement Association
Application DEADLINE is Friday April 8th, 2016.
Applications forms will be available first week of March.
For more information, please contact:

Deborah Clark or Tanya Blatz
Housing Coordinators for Centennial and North Logan Neighbourhoods
427 Alexander Avenue
Winnipeg MB
Phone: 204.806.5939
Email: centennial.winnipeg@gmail.com

Central Neighbourhood Development Corporation Application DEADLINE soon to be announced.
For more information, contact reception@cndc.ca.

Chalmers Neighbourhood Renewal Corporation
For more information, contact chalmersrenewal@mymts.net

Daniel McIntyre/ St. Matthews Community Association
Deadline for the 2016 grants is May 18th. Forms will be available at dmsmri.ca starting March 1.
To receive an application or for questions, please contact our Housing Coordinator at 204-774-7005 or housing@dmsmri.ca

North End Community Renewal Corporation (Dufferin, North Point Douglas, William Whyte, St John’s, Lord Selkirk Park only )

DEADLINE for the 2016 grants is May 13th.

PLEASE CALL LINDSAY SCHAITEL TO SCHEDULE YOUR INSPECTION. SHE WILL BE SCHEDULING ALL INSPECTIONS 204-927-2335

Spence Neighbourhood Association
Applications will be available on April 29th, 2016 and the DEADLINE to submit them is soon to be announced.
Please pick up applications 615 Ellice Ave
For more information, contact Cortney Sinclair at rentalsafety@spenceneighbourhood.org

West Broadway
For other grant information, contact Leah housing@westbroadway.mb.ca

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Commercial Mortgage Vs Paying Rent for Commercial Space

Commercial Mortgage Vs Paying Rent for Commercial Space by Sua Truong

Do you dread those increases in lease payments every year and the huge jump every 5 years?

If you have a business and renting out a commercial space, why not own it?

In the short term, the math may hurt operating cash available since it will require a 15% to 25% downpayment to make this happen. Your cashflow will increase since the mortgage payments (amortized over up to 25 years) would be less than you were paying on your monthly rent.

Long run, with a 10 to 20 year outlook, you would have paid down a large part or all of your mortgage and most likely the value of your property went up considerably.

It’s like having a lease that keeps going down every year instead of up!
Big bonus: if you plan to sell the business, you can sell it and have the new owners of that business pay you rent for the property you own (with big rent increases each year!!).

A few years ago, rates were in the 5% to 6% range. Today, it’s possible to get it down to 3.00%!! (Or lower on multi-rental properties)

Take-away: It’s a win-win. Pay less each month, build equity and eventually rent it out for passive income (at retirement).

Thanks to Robert Klein for encouraging me to help people be more aware of the alternative options out there.

Contact me for more details:

Mike Knoll – Mortgage Professional with Invis Inc.

Call/Text 204-782-9772

Email: mike@mortgagesbymike.ca

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Do you need a mortgage tune-up?

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Did you know…
… that just like your car or your home, your mortgage can benefit from a seasonal inspection! Your car gets taken in for regular servicing to keep it running for the long term, shouldn’t your financial future get the same kind of attention? The beginning of each year is a great time to make sure your mortgage is in peak performance!

Here are seven common signs you need a mortgage tune-up:

1. You are locked in at a higher rate than you could get today – and you want a professional opinion on your options;
2. You’re thinking about moving to a new home this year – or pondering buying an investment property;
3. You’re carrying more than $25,000 in high-interest loans or credit cards and it’s affecting your cash flow;
4. There’s a renovation or home repair project coming up this year – either by choice or necessity;
5. An investment or business opportunity is available – and you wish you could take advantage;
6. There’s a large expense looming – tuition, wedding – and you want to plan ahead; and,
7. Your mortgage is up for renewal in 2016.

If we haven’t seen you in the last year – or if you recognize one of the signs that it’s time for a tune-up – give us a call or send an email anytime. And if you know someone who could also benefit: consider this a coupon for a free inspection for a friend or family member!A mortgage in tip-top condition is the best way to get you where you’re going in your financial future!

Mike Knoll

Mortgage Professional with Invis Inc.

Call/Text 204.782.9772

mike@mortgagesbymike.ca

TEN GREAT REASONS to use a mortgage broker

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For many Canadians, mortgage payments are their single biggest expense. Yet most don’t comparison shop to ensure they’re getting the best mortgage rate and terms available, which can cost tens of thousands of dollars over their mortgage years. Don’t make the same mistake! Here are 10 reasons why you need a mortgage broker working for you:

1. CHOICE. A wide range of lenders, including major banks, credit unions, and other national, regional and private lenders will instantly become accessible to you, ensuring that your specific needs are matched to the right mortgage.
2. GREAT RATES. Get money in your pocket by taking advantage of Invis’ clout with lenders. Our stellar reputation and longstanding experience allows us to negotiate great rates and access limited time specials.
3. A FOCUSED EXPERT. A mortgage is a very significant financial event. That’s why you want someone who is highly specialized in the mortgage marketplace and focused solely on your needs. You’ll get advice that will make a significant difference in your financial life.
4. INDEPENDENCE & OBJECTIVITY. I work for you, not the lender.
5. SOLUTIONS WHEN YOU NEED THEM. I can provide funding for bank turndowns, the self-employed, past credit problems, etc. There are mortgages for almost any situation and I know them all.
6. SAVE TIME. Everything relating to your mortgage can be managed around your busy schedule.
7. SERVICE, SERVICE, SERVICE. I’ll be with you every step of the way, to answer all your questions, outline your best options, and efficiently guide you through the process.
8. ONGOING SUPPORT. My services don’t stop after the mortgage closes. I will stay with you for the life of your mortgage with advice and opportunities.
9. NO COST (oac). The winning lender pays compensation for the services and solution provided, which means no fees for you in the vast majority of cases.
10. YOUR SATISFACTION. My goal is to ensure that you are so completely satisfied with your mortgage experience that you will be happy to refer me to your friends, family and colleagues.

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Mortgage Brokers Work with Self-employed Canadians Everyday

Mortgage Brokers Work with Self-employed Canadians Everyday

While freelancers, contractors, entrepreneurs and small business owners are considered an excellent and reliable customer group, it’s not always easy for someone who is self-employed to get mortgage financing. Salaried employees prove their income with their T4 slips. The self-employed on the other hand have a much harder time proving their earnings because they use accounting techniques to report lower income so that taxes are reduced as much as possible. This can make it harder to prove to lenders that they can afford to make their mortgage payments.

That’s why professional advice is so important. Based on your situation, your mortgage broker will advise you on the type of information you need to present to improve your options and get the best possible rate, for instance, by showing:
– documentation to prove income – tax assessments, tax returns, financial statements, contracts
– proof of a registered or incorporated business
– good cash flow
– that you are up to date with your property and income tax payments
– strong credit history
– solid net worth
– savings
– long job tenure / residential history, and
– a significant down payment

Mortgage brokers also have access to lenders that are not federally regulated and take a less stringent approach when it comes to self-employed borrowers. In fact, your mortgage broker has access to over 50 lenders, including major banks, credit unions, trust and insurance companies, and other national, regional and private lenders.

Re-advanceable mortgages are another option that your broker can review with you. It’s a great way to take advantage of increasing equity. As you create equity through mortgage paydown, the line of credit portion of the mortgage is automatically increased by the same amount. This way you can access your equity when needed without having to apply, offering you more convenience and flexibility than a traditional line of credit.

Most of all, working with a mortgage broker allows you to delegate the many time-consuming and frustrating tasks associated with securing a mortgage, so you can stay focused on running your business. And your broker will typically work around your hectic schedule.

If you are self employed, you already know it makes sense to go to a specialist to get the job done. Find an experienced mortgage broker who understands the many issues that can keep you up at night, so that your dream of home ownership is not one of them!

Please share this article if you found it interesting!

I am building my mortgage brokerage business and could really use your help. If you know anyone who is looking for information on mortgages now or in the near future, I would appreciate the referral. Thank you in advance.

Mike Knoll
Mortgage Professional
Invis
Call/Text: 204-782-9772
Email: mike@mortgagesbymike.ca

Ordinary Canadians like you can build wealth with investment property.

two houses, pad of paper, coffee cup

Ordinary Canadians like you can build wealth with investment property.

Across the country, ordinary Canadians are building personal wealth with investment property. An investment property is being increasingly viewed as a pension plan for the future, particularly since so many Canadians are not covered by workplace plans. Over the long term, an investment property can be a great source of retirement funds. Rental income typically pays for most or all expenses and property appreciation has often outperformed stocks and bonds over the long term.

This is not just an investment for well-established business people and experienced homebuyers. Savvy first-time buyers are often jumping in with both feet: purchasing a duplex or triplex, and then managing the additional units to pay down the mortgage while they make a start on home ownership. And parents who add up the cost of accommodations for their college-bound children are often deciding to be landlords themselves, seeing an opportunity to offset the cost of housing with a sound investment.

There are many reasons to consider investing in property. If you are thinking about building wealth with an investment property, talk to us. We can help you determine your downpayment options and run the financial calculations that you’ll want to see for cashflow and capital appreciation.

Please share this article if you found it interesting!

I am building my mortgage brokerage business and could really use your help. If you know anyone who is looking for information on mortgages now or in the near future, I would appreciate the referral. Thank you in advance.

Mike Knoll
Mortgage Professional
Invis
Call/Text: 204-782-9772
Email: mike@mortgagesbymike.ca

Five Reasons Why You Should Let Renters Help Pay Your Mortgage

Five Reasons Why You Should Let Renters Help Pay Your Mortgage

Are you a savvy homebuyer? Then let renters help pay your mortgage. Recently Canada Mortgage and House Corporation (CMHC) announced that when qualifying for a mortgage, homeowners could now count all of the income from their legal secondary unit(s) instead of the previous 50 per cent, making it easier to qualify and giving this home buying option a boost.

Whether you’re a first-time homebuyer feeling your way into the housing market or an existing one looking to lower your mortgage payment, here are five reasons why having renters help pay your mortgage is such an appealing option:

  1. Some first-time buyers want to move directly into a single-family home and get mortgage assistance using a rental suite instead of purchasing a condo at a lower cost.
  2. If you want to get your foot into the world of real estate without breaking the bank, a home with a rental suite can be a great start, especially if the area you happen to love is pricey.
  3. Homeowners looking ahead to the future may want to lower their mortgage cost so they can channel money into other investment areas like RRSPs, TFSAs, RESPs. Or simply as a way to become mortgage free sooner!
  4. Spending less on your mortgage can give you the freedom to change your lifestyle or follow your dreams, perhaps to travel, start a new business venture, or allow for the luxury of having a stay at home parent.
  5. Rental suites are also great if you have ageing parents. You can keep them close without infringing on personal space. Keep in mind that if tenants are family members, lenders and insurers will not use the rental income for qualifying purposes.

Ready to become a savvy homeowner and let renters help pay your mortgage? Talk to me today and find out how!

Are you a savvy homebuyer? Then let renters help pay your mortgage. Recently Canada Mortgage and House Corporation (CMHC) announced that when qualifying for a mortgage, homeowners could now count all of the income from their legal secondary unit(s) instead of the previous 50 per cent, making it easier to qualify and giving this home buying option a boost.

Whether you’re a first-time homebuyer feeling your way into the housing market or an existing one looking to lower your mortgage payment, here are five reasons why having renters help pay your mortgage is such an appealing option:

  1. Some first-time buyers want to move directly into a single-family home and get mortgage assistance using a rental suite instead of purchasing a condo at a lower cost.
  2. If you want to get your foot into the world of real estate without breaking the bank, a home with a rental suite can be a great start, especially if the area you happen to love is pricey.
  3. Homeowners looking ahead to the future may want to lower their mortgage cost so they can channel money into other investment areas like RRSPs, TFSAs, RESPs. Or simply as a way to become mortgage free sooner!
  4. Spending less on your mortgage can give you the freedom to change your lifestyle or follow your dreams, perhaps to travel, start a new business venture, or allow for the luxury of having a stay at home parent.
  5. Rental suites are also great if you have ageing parents. You can keep them close without infringing on personal space. Keep in mind that if tenants are family members, lenders and insurers will not use the rental income for qualifying purposes.

Ready to become a savvy homeowner and let renters help pay your mortgage? Talk to me today and find out how!

 

Mike Knoll

Mortgage Professional

Call/Text: 204-782-9772

Email: mike@mortgagesbymike.ca