Client's Testimony

A note from a satisfied client..........
Siba, Edmonton, AB: I had gone to different Mortgage lenders in and out of town to find financing to buy a house and after I have been turned down everywhere I had almost given up hope. Then one day I went to this networking workshop and she happened to be a speaker there. The minute she opened her mouth I knew she was the one to get me what I wanted, it was as if God whispered into my ear and I had no doubt. Her passion, fire, and energy was exhilarating. Marg Mortgages was God sent to save the day. This lady doesn't take no for an answer she will fight for you until you get what you want. She will stay up to 0100-0200hrs at night working and communicating with you until the end. I will recommend her to my family, friends, colleagues and even my enemies. I am a true testimony. Marg Mortgage thank you very much, the community is lucky to have you and will recommend and advise anyone wanting a mortgage to utilize this lady's services. Marg Mortgages can fix your credit and get you the right mortgage!! email: info@margmortgages.ca

Marg Mortgages Credit Rebuilding Program

What is Credit

Everyday we are asked, “how credit works”. Credit is getting things first, and paying later. Credit in Canada is used for everyday purchases through to major life milestones. When it comes to large purchases, credit is essential (after all, who has a spare $400,000 in cash for a home?

Credit is used when you want to:

• Get a loan
•  Buy a house
•  Lease a vehicle
•  Get a good phone plan

•  Make travel reservations
•  Get certain jobs
•  Rent an apartment
•  Pay less interest

Can Anyone Get Credit?

We all have a credit score — some good, some not so good (some are even 0!). The trick is that you need to have a good credit score in Canada to get credit. Credit allows you to reach your goals in a more flexible way. Since building your credit score takes time and patience, now is the time to start building.

Your Credit Score is a Number that Affects You

Your credit score may look like ‘just’ a three-digit number, but it sums up your whole financial reputation. Think about it like a financial resume. This number is all about trust and determines what type of credit you can get in Canada, from a mortgage all the way down to payday loans. Your credit score also decides what conditions (like a cosigner) and interest (high or low) you will get on any credit you apply for.

If you have a history of paying lenders on time and managing your debts responsibly, you’ll have a high score! If you don’t have a history at all, or if you have a low score — it will be hard to get lenders to trust you. Our goal is to help those with no score or a low score get back into the credit game.

Have You Ever Been Denied for a Credit Card?

If you’ve been turned down for credit, don’t take it personally; it probably means your credit score was too low. Lenders do a lot of math to figure out the risk of not getting paid, based on credit scores. Unfortunately, an awesome personality doesn’t count for much in the world of credit.

Credit Building With Marg Mortgages

• No Credit Check. No money out of pocket.
• Approval in minutes!
• Clients sign up for one of our programs, ranging from $1,200-$5,500.
• We put up the program amount and hold it as collateral. As clients pay down the program they begin to build-up equity (savings), which they can withdraw.
• These payments are reported to their credit profile as an Installment Loan
• All programs are 36-60 months with fully open terms and no penalty to payout early.
• Interest on the program ranges from 15.99%
• A commitment fee is charged on each program that is rolled into the payments and paid over the first several months.
• The commitment fee must be paid before the client can cancel.
• This fee ranges from $200-$400 depending on the program size (see program summary page.

Email Marg Mortgages: info@margmortgagges.ca

If you’ve ever been denied for credit, we can help you.

YOU CAN BUY A HOUSE WITH NO MONEY DOWN

If you have a good job and want to buy a first home, but don’t have a down payment, can it be done? The answer is maybe and depends on how you answer these questions.

How's you credit score? In order to qualify for a mortgage you must have a good credit rating. Try and reduce or eliminate all outstanding credit card debt first. Cancel credit cards that you are not using.

Do not change jobs just before applying for a mortgage. The lender will want to see that you have a stable employment history. You can go to Equifax.ca to obtain a free copy of your credit score. If any information in your credit file is incorrect, take the time to get it fixed before applying for any mortgage loan.

Do you qualify for an insured mortgage? With an insured mortgage, you are able to finance up to 95 per cent of the purchase price, either through CMHC or a private mortgage insurer. You will need to have at least the remaining 5 per cent down payment, as well as approximately an additional 1.5 per cent to cover the land transfer tax, legal, moving and other closing fees.

You may also want to set some money aside to do some work on your new home before you move in. To obtain the insured mortgage, you will have to demonstrate that you have enough monthly household income to pay your mortgage as well as your household expenses. It is a good idea to try and get pre approval for a mortgage, so you know before looking how much you can afford, based on the down payment that you have.

Is it possible to buy a house with no down payment? Some lenders offer qualified buyers the entire down payment on the day of closing, if the buyer has good credit, stable employment and qualifies for the lender’s closed-mortgage rate over 5 years. This can allow you to buy a home worth up to $400,000 in most cases.

The disadvantages with these mortgages are that if you want to discharge them early, you will have to pay back a pro-rated portion of the money received. And you will probably be paying 3 per cent more interest on a monthly basis than you would if you were using a variable rate mortgage, which is popular today for most home buyers.

This extra interest will amount to more than the imputed value of the down payment over a five-year period, yet it will be offset by the fact that you get to close your purchase now, with a down payment that you currently don’t have. Other lenders offer similar “cash back” mortgages, which may cover your 1.5 per cent closing costs or more, on similar terms and conditions.

If you are contemplating a home with a basement apartment to help carry your expenses, be careful to make sure that the unit has legal zoning and complies with the local Fire Code. In addition, make sure that you notify your insurance company about this.

Finally, always have a professional home inspection done. You do not want to find, after closing, that the house requires repairs that you can’t afford.

Even if you have a low down payment, by being properly prepared, your dream of home ownership can come true in 2017.

Get your Mortgage pre-approval in 1 hour. Click below: http://www.margmortgages.ca/LookingForYourFirstHome

TOP REASONS TO WORK WITH MARG MORTGAGES

Here are several reasons to work with me

Purchasing a home is an important decision and you should be confident about your investment. I will work with you personally to offer you valuable insight throughout the process, save you time and find the mortgage that best suits your situation.

Get independent expert advice on your financial options. I am not tied to a specific lender or products so I can offer you mortgage products that will best match your specific needs. 
My only goal is to help you successfully finance your home.

I will also help you: · Save time with one-stop shopping. Instead of spending your valuable time meeting with competing mortgage lenders, I can quickly narrow down the list of lenders that will help you achieve your financial goals. I will make your comparison-shopping fast, easy, and convenient.  · I will negotiate on your behalf. Many people are uncertain or uncomfortable negotiating mortgages directly with their bank. And even if you have an existing relationship with your branch, Marg Mortgages is licensed under TMG , a mortgage brokerage that does millions of dollars of transactions yearly with a wide variety of lending institutions so I have strong lender relationships. I can use that relationship to your advantage to negotiate your mortgage to ensure you secure competitive rates and terms that benefit you. · I will ensure that you're getting the best rates and terms. Even if you've already been pre-approved for a mortgage by your bank or another financial institution, you're not obliged to stop shopping! I can investigate on your behalf to see if there is an alternative to better suit your needs. · Customization. All mortgages are not created equally, and depending on your financial goals, I will ensure the mortgage you receive helps you with those goals. Whether borrowing to purchase, renovate, or make your mortgage interested tax deductible, I can ensure that the mortgage you have helps achieve these financials goals. · From start to finish: Even after your closing goes smoothly, my job is still not finished.  I will help ensure your transaction closes on time....but after closing I am still available for all your mortgage needs. · No cost to you. There's absolutely no charge for my services on typical residential mortgage transactions. Like many other professional services, such as insurance, mortgage brokers are paid a finder's fee when we introduce dependable clients to a financial institution.
	I provide ongoing support
	Once your mortgage is signed and paperwork is complete, I am here if you need any advice on closing details or even future financing needs. I am always happy to be of assistance when you need it.

TIPS TO HELP YOU BUY YOUR FIRST HOME

TIPS TO HELP YOU BUY YOUR FIRST HOME

Let me help you make an informed decision   Buying a home is one of the biggest financial decisions you will make, so it pays to make an informed decision. I will assist you with the entire home buying process from the moment you decide to buy your home to the moment you move into your new home!   Why work with me? I will assist you in the home buying process by: explaining the various mortgage products available to you and provide you advice on the product best suited for your financial circumstances; advising you on the documentation you must provide to obtain a mortgage approval; customizing your mortgage options to make sure your mortgage works for you; and explaining all the costs that exist over and above your down payment.   Put together your home buying team   It helps to organize your home buying team of professionals to assist you with the process at the start. Your home buying team includes myself, your Realtor, a home inspector, a lawyer or notary and an insurance agent! KEY POINTS TO CONSIDER: Here are several key points to keep in mind as you start the home-buying process and how working with a mortgage broker can help you. Keep in mind, in most instances, my services are no cost to you with no risk and obligation. Know what you can afford Get a rate guarantee of up to four months Ensure all credit approval documentation are in place sooner than later including documentation required for different income types i.e. salaried vs. self-employed Open vs. closed mortgage, fixed rate vs. variable rate mortgage Conventional vs. high-ratio mortgage Length of repayment (amortization) - up to 30 yrs Your mortgage term â€" from 6 months to 10 years Other costs you need to consider such as legal fees, land transfer tax, survey, title insurance, fire insurance, home inspection and HST Overwhelmed? Let's chat and I will clarify each one of these points for you! Let me help you finance your home     If you're unsure of what your next step should be, let's talk. Together we can review your options and create a mortgage financing plan that works for you.

Marg Mortgage is Licensed under TMG The Mortgage Group – an award-winning Canadian mortgage brokerage with a national team of over 800 qualified and accredited mortgage brokers, agents and associates providing residential and commercial mortgage services. Since 1990, TMG has helped over a quarter million Canadians get the best financing solutions and mortgage rates through Canadian mortgage lenders from coast to coast.

HOW TO PAY OFF YOUR DEBT FASTER

HOW TO PAY OFF YOUR DEBT FASTER

What is a debt consolidation?

In a nutshell, this involves taking out one big loan, which you use to pay off your current debts. Once your outstanding debts have been paid off, you’ll just have one payment to make each month towards your consolidation loan.

A debt consolidation is helpful in that it accomplishes three things.

First, it lowers your interest rate. Many credit cards have high interest rates – some as high as 27% – and if you haven’t been making more than your monthly payments, chances are your balance isn’t going down very quickly because of the interest charges. A good debt consolidation loan has a lower interest rate than the credit cards you are consolidating, which saves you money in the long run because more of your payment will go towards paying down your debt.

Marg Mortgages works with our partner to help you plan for the future with an unsecured personal loan! We offer.........

• $5,000-$35,000
• Rates starting as low as 6%
• 6 months to 5 year terms
• Funding within 24 hours
• Soft credit pull to qualify

You can also use our personal loan for the down payment on a new home or a renter property. Click on the link below for more information: http://www.margmortgages.ca/LookingForYourFirstHome

THE CREDIT GAME BY LENDERS

Everyone has one form of debt such as student loans, credit card, car loan, a mortgages, phone bills or utility bills. Lenders have rules that you have to follow whenever they lend you money in any form. They give you penalties if you don't follow the rules and you will be rewarded with good interest rate and more credit facilities if you play the game right and obey the rules. You will even get ranked higher if you are a top player! The rankings are your credit scores which the banks/lenders call the beacon scores.

You are a top gamer if you pay your bills on time, don't use over 50% of your credit limit, don't apply for too much credit at once etc( ask your lenders about their rules or lending policies). In simple terms just obey the rules laid out and you will always be in the game. But if you are a good guy who lost your job and couldn't keep up with your payments, you could be penalized for up to 6 years. Because late payments will remain on your credit reports as reported by your lenders. Although the penalties were set to punish or correct the behaviours of bad players that just won't pay their bills but the same punishment applies to a good guy who lost his job.Most lenders will work with a person who calls them as soon as they sense trouble. Therefore, not all lenders are bad :)

How are you ranked?

When you use your credit card for purchases your information is electronically sent to your lender who in turn reports your payment habits to Equifax and Trans Union. Although there is also Northern Credit Bureau Inc here in Canada but the commonly used ones are Trans Union and Equifax. These credit agencies are paid to use the data collected about you to determine if you are a credit risk to the lenders or not. Do you ever wonder if the credit bureaus are on your side or the lender's side???

It is very easy for a lender to report your habits to credit bureaus but if there is an error in your credit report, you will jump through hoops to get it fixed. The reason is because credit bureaus work for the lenders and not consumers. Your credit scores are between 300 and 900. 300-575 is rated as poor, 576-629 is fair, 630-679 is good, 680-750 is excellent and 751-900 is an amazing score. A good credit score gives you the bargaining power on interest rate. Keep in mind that lenders borrow you money in order to make profits. The higher your interest rate, the more money they make. You will pay the lenders less for borrowing if your credit is score is excellent. Well, I don’t know if you can really win this game! Either way, you still have to pay the lender.

The credit game could be fair or unfair depending on your spending habit and the way you play the game. My advice is simple, obey by the rules! The only way to beat the lenders in this game is to pay off your credit card bills before your payment grace periods. Please ask your lenders about lending grace periods which mostly applies to credit cards.

Email me at info@margmortgages.ca with all your credit, money and mortgage questions.