Debt Consolidation Mortgage

We have many years of experience in helping clients in Brampton with Debt Consolidation Mortgage Approvals that allow them to lower their overall monthly payments and find real savings through their mortgage.

So what really is a Debt Consolidation Mortgage, you might be asking yourself.

Simply put, a Debt Consolidation Mortgage is a mortgage that allows you combine several of your debts or liabilities (such as; car loan, credit debts, pay day loans, personal loans, collections, etc) into one single monthly payment at one low rate so you can save a lot of money.

Here is an example of we were able to help one of our clients with;

“Our client had a mortgage for $325,000 and owed $100,000 in debts and liabilities outside of their mortgage. This equaled to;
$35,000 for a car loan at $600 a month,
$40,000 for their several credit cards at $1,200 a month
$20,000 for a personal loan at $800 a month,
$5,000 on personal loans at $400 a month.

This worked out to be $3,000 a month, plus their $325,000 mortgage at $1,660 a month.

Our client was paying a total of $4,660 in monthly payments on their mortgage and their debts and liabilities.

We helped our client put their $100,000 of debts and liabilities into their $325,000 mortgage, which became a new $425,000 mortgage at a $2, 015 a month.
We were able to help save our client over $2,645 a month and yearly savings of $31,740 a year.

This allowed our client to have one low monthly payment at a much lower rate than before as you can see from above and now our client only had to focus on making one single payment instead of a few several payments they were making before.”

What are the Benefits of a Debt Consolidation Mortgage?

Benefits of a Debt Consolidation Mortgage | Brampton Mortgage Broker - Rumy Gill
Benefits of a Debt Consolidation Mortgage | Brampton Mortgage Broker – Rumy Gill

Utilizing a Debt Consolidation Mortgage has many advantages as you see from the example of a previous client were able to help. We are able to help our clients with customized solutions in reducing their outstanding monthly debts and liability payments and then structure the perfect mortgage to absorb these debts and liabilities and convert them into huge amounts of monthly saving.

Our restructuring process allows us to help with eliminating the high interest debts and liabilities that our clients are paying by cleaning up and paying off all our client’s debts and liabilities in full. This results in a positive credit rating for our clients, as they are no longer need to keep making monthly payments to these debts and liabilities since they have been paid off in full through their mortgage. The original balances are transferred to their new mortgage and the new monthly payments reflect the savings we were able to obtain for them.

This process allows our clients to focus one single low rate monthly payment instead of having to make multiple payments at various high interest rates. Saving them hundreds to thousands of dollars in high interest costs. This is why our clients are able to benefit from monthly savings and positive monthly cash flow each month.

Our clients love the idea of one single payment they have to make instead of the several payments they were making before.

Have questions or just want to learn more about a Debt Consolidation Mortgage?

Got Questions About a Debt Consolidation Mortgage | Brampton Mortgage Broker - Rumy Gill Can Help
Got Questions About a Debt Consolidation Mortgage | Brampton Mortgage Broker – Rumy Gill Can Help

We are able to help with all different situations for a Debt Consolidation Mortgage, but with that being said, if you still want to learn more about how this type of financing can help your situation make sure to contact us today to find out how much you can save. We are always here to help answer your questions and find you the best financing option where you can save the most amount of money.

RRSP and the Home Buyers Plan for First Time Home Buyers

How RRSP and the Home Buyers Plan can help First Time Home Buyers. Here is article written by two professionals with industry experience in Financial Advising (Henry Foradori a Senior Financial Advisor) ; and Mortgage Brokering (Rumy Gill a Brampton Mortgage Broker) to help give insight to First Time Home Buyers on the importance of RSSP and the Home Buyers Plan.

RRSP and the Home Buyers Plan:

For most Canadians their two most important financial goals are; as a First Time Home Buyer, is to own a home and as a home owner, to be able to retire comfortably.   For most home owners, they have built a nest egg through home ownership and used retirement plans to attain a retirement lifestyle of comfort and leisure. So how can a RRSP help you reach these two goals, as a First Time Home Buyer, own a home and then later help you retire comfortably?

The key is to work with a great Senior Financial Advisor and Mortgage Broker who can help you achieve these goals of Home Ownership and then later retire comfortably.

But let’s dive into the details, and learn about how a Senior Financial Advisor and a Mortgage Broker can help make sense of a RRSP.

What is a RRSP or Registered Retirement Savings Plan? It is a Federal Government sponsored program that allows individuals to save for their retirement.  The earliest one can contribute requires a social insurance number and a filed tax return.  As the name implies it is meant to help one save for their retirement and while that may be decades away, the government will allow individuals to deduct contributions for their income resulting in reduction in the amount of tax payable.  Contributions are based upon the lower of:

  • 18% of earned income from the previous year or
  • A maximum annual contribution limit, 2019 limit $26,500
  • If you belong to a pension plan there is what is referred to as a pension adjustment (PA), which will lower your contribution limit.

If you are not aware of how RSSP works or want get the best strategy for investing, then you can rely on a Senior Financial Advisor to help you explore the several investments that are eligible to be held within an RRSP such as stocks, bonds, mutual funds, T Bills, ETFs Exchange Traded Funds and GICs.

If you happen to miss or do not maximize your contribution you can carry forward any used RRSP contributions.   However, be careful if you over contribute as you are only allowed a lifetime over contribution of $2000. Any excess will result in a penalty of 1% per month, make sure to contact a Senior Financial Advisor if you are unsure utilizing the maximum contribution.

Contributions can be made during the calendar year and up to 60 days after the previous year, which can be applied to your previous year tax return.

There are plenty of planning opportunities when working with a Senior Financial Advisor. For instance, if one spouse works or earns much more than the other, you can contribute in the spouse’s name and the contributor, the higher earning spouse, gets the deduction. Effectively you build two retirement plans.  Over the long term you can accumulate a sizable nest egg which meets your needs towards a comfortable retirement.

For First Time Home Buyers, the Home Buyers Plan is one of the best planning opportunities to achieve your goals of Home Ownership and retire comfortably. The Home Buyer Plan, allows individuals to withdrawal up to $35,000 each from their RRSP towards a Down Payment on a home.  This can be a huge advantage for First Time Home Buyers, providing a maximum Down Payment of $70,000 towards buying your first home.  What this means is a larger Down Payment and smaller mortgage payments when purchasing your first home. Be aware that you will need to pay back the withdrawal from you RRSP over a 15 year period. However, always make sure you consult with a Mortgage Broker to know your borrowing capacity and that you are receiving all the benefits available to First Time Home Buyers

It is import to note that an RRSP is a tool that can meet not only your long term retirement needs; it can also be a means to save for your new home, fulfilling your two most important financial goals; Home Ownership and then later being able to retire comfortably.

If you have any Questions or would like explore your options around RRSP and the Home Buyers Plan, make sure to get in touch with us today.

RRSP and the Home Buyers Plan | First Time Home Buyers | Brampton Mortgage Broker - Rumy Gill
RRSP and the Home Buyers Plan | First Time Home Buyers | Brampton Mortgage Broker – Rumy Gill

 

Rumy Gill – Mortgage Broker

Direct: 416-855-0545 Ext 101
Email: Rumy@BramptonMortgageBroker.com

Office : 2260 Bovaird Dr. E. Unit 202A
Brampton, ON L6R 3J5

Mortgage Intelligence Inc. – Lic# 10428

Henry Foradori – Senior Financial Advisor

Email: hforadori@argosynet.ca
www.argosy-foradori.ca
Tel.: (905) 709-7066 Ext 2236

The information and opinions contained herein have been compiled or arrived at from sources believed reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness. Neither Argosy nor its affiliates accepts any liability whatsoever for any loss arising from any use of this report or its contents. This report is not, and is not to be construed as, an offer to sell or solicitation of an offer to buy any securities and/or commodity futures contracts. The securities mentioned in this report may not be suitable for all investors nor eligible for sale in some jurisdictions. This research and all the information, opinions, and conclusions contained in it are protected by copyright. This report may not be reproduced in whole or in part, or referred to in any manner whatsoever, nor may the information, opinions, and conclusions contained in it be referred to without the prior express consent of Argosy. Historical analysis does not reflect future returns. The information contained herein may not apply to all types of investors. Please consult a professional before making an investment decision.

Debt Consolidation Loan Canada | Brampton Mortgage Broker – Rumy Gill

 

Apply for a Debt Consolidation Loan Canada at www.BramptonMortgageBroker.com

A Debt Consolidation Loan Canada can help home owners fight off high interest debt by accessing their home’s equity!

A Debt Consolidation Loan Canada (also know as a Home Equity Loan) can Leverage the Equity in your Home to pay off your Debts, free up Cash Flow and Repair your Credit Score!

Why get a Debt Consolidation Loan Canada?

 

A Debt Consolidation Loan Canada is a great option and here are 3 Great reasons why!

  • Great Rates!
  • Low Affordable Monthly Payments!
  • Fast Approvals!
Debt Consolidation Loan Canada | Brampton Mortgage Broker - Rumy Gill
Debt Consolidation Loan Canada | Brampton Mortgage Broker – Rumy Gill

Contact Me to get started with a Debt Consolidation Loan Canada Today!

Rumy Gill – Mortgage Broker

Direct: 416-855-0545 Ext 101
Email: Rumy@BramptonMortgageBroker.com

Office : 2260 Bovaird Dr. E. Unit 202A
Brampton, ON L6R 3J5

“Helping You Find Saving In Your Mortgage!”
Mortgage Intelligence Inc. – Lic# 10428
O.A.C. Some Conditions May Apply.

Transcript from the Video:

If you’re a home owner and you have high interest debt, like credit cards, pay day loans, whatever, whatever debts you have. You’re going to want to listen to what I have to say.

What I am going to tell you is going to help you with your finances and help you cash flow every month. Meaning you’ll have money back in your pocket.

So there are a lot of clients that come to me saying Rumy, I Need My Mortgage Refinance. Well when we look at the situation they cannot Mortgage Refinance, because the income doesn’t qualify. So what we do for them is we do for them is we help them with leveraging the equity in their home.

By doing so, we are able to pay off all the debts they are already paying at a high interest rate, and pay it off in full, and give them low affordable monthly payments, which allows them to save money every month.

And then at a later date, in a year or so, we’re able to Mortgage Refinance them. So we’re able to take a step and bridge them to next step after. So is a fantastic option for a lot of my clients I helped out with. It really does help you cash flow every month, and it gets rid of those debts. It also helps your credit score.

Believe it or not if you don’t know this already, if you’re over using your credit and you have a lot of debt, you could be harming your credit score. That means that if you need to Mortgage Refinance and you have tons of debt, you may not even qualify with Banks. Even though you never missed a payment and you’ve been on time, but just because you have so much debt you may not qualify.

So get in touch with me, if you click my link below here. Its right there, www dot Brampton Mortgage Broker dot com. You can click the link, and on the top right hand corner, I believe it is, my Application form is there. There is a quick Application form doesn’t require any credit information, it just requires your details, basic stuff.  3 steps, fill it in, I’ll get it, I’ll review it. I’ll get in touch with you and we’ll get you the best options.

We can offer you Great Rates, We can offer you Low Affordable Monthly Payments, and Fast Approvals.

The Best Part is, the payments are customized to you to help you make these payments. So we can help you out. So please, click the link below. Brampton Mortgage Broker dot com and take action now. Alright. Look forward to helping you out.

 

Brampton Mortgage Broker- Rumy Gill is here to help clients with a Debt Consolidation Loan Canada.

Top Mortgage Broker | Top 5 Mortgage Broker April 2019

Top Mortgage Broker April 2019 Thank you! Thank you!! Thank you!!!

Just to give you a quick background on me, I am Top Mortgage Broker in Brampton (BramptonMortgageBroker, MortgageBrokerBrampton) working at MortgageIntelligence. I am a Google 5 Star reviewed MortgageBroker in Brampton by my clients.

It is with great appreciation that I announce that, April 2019 was a Great Month and one to remember! I was able to Cracked the Top 5 for April 2019. Top 5 Team Member out of 100’s at Mortgage Intelligence 🙌 @rumygill

None of it would be possible without the support of all my Referral Partners, Realtors, and Past Clients and their Referrals of Family and Friends. And my Amazing Team at Mortgage Intelligence. All the hard work has paid off and May 2019 looks Strong! And June 2019 is looking like it’s going to be a Busy one! Let’s keep going!

We’re Always Open for Business! Mortgage Approvals for Home Purchases, Refinances, Equity Take Out, Second Mortgages, Private Financing!

Top Mortgage Broker | Mortgage Broker Brampton | Brampton Mortgage Broker - Rumy Gill
Top Mortgage Broker | Mortgage Broker Brampton | Brampton Mortgage Broker – Rumy Gill

 

Transcript from the video:

“Hello everyone, Rumy Gill here, MortgageBroker at MortgageIntelligence. Want to take a quick second here to appreciate and recognize all my Realtors and support systems I have in place. Without you guys, I would not have been able to get to the top five of Mortgage Intelligence of April 2019. Thank you so much.

Thank you to my Realtors, Thank you to my referral partners, my past clients who have sent me referrals. Thank you so much. Thank you to Mortgage Intelligence for giving me an opportunity and platform where I can grow my business. I look forward to continue growing my business in the upcoming months. Thank you again guys.”

 

If you are looking for help with your Mortgage, I am always available to help. Make sure to get in contact wit me so I can help you out with your Mortgage Financing including Mortgage Approvals for Home Purchases, Refinances, Equity Take Out, Second Mortgages, and Private Financing.

 

Top Mortgage Broker | Mortgage Broker Brampton | Brampton Mortgage Broker - Rumy Gill
Top Mortgage Broker | Mortgage Broker Brampton | Brampton Mortgage Broker – Rumy Gill

Rumy Gill – MortgageBroker
Tel: (416) 855-0545 Ext 101
www.BramptonMortgageBroker.com

“Helping You Find Saving In Your Mortgage!”

Mortgage Intelligence Inc. – Lic# 10428
O.A.C. Some Conditions May Apply.

Buy a Home in Brampton

Looking to Buy a Home in Brampton? Then you working with Brampton Mortgage Broker – Rumy Gill can help you with a Mortgage Approval so you can Buy a Home in Brampton. Did you know that Brampton is known as the flower city and is located in the GTA.  Only being about 45 kilometers away from Toronto has many activities and attractions to offer and is home to many individuals who are New to Canada.

If you were to look on the map Brampton is the center point in the (GTA) Greater Toronto Area. Brampton is only is only about 22 kilometres or approximately 20 minutes from Toronto Pearson Airport and is in reasonable travelling distance of the major GTA cities like Mississauga, Caledon, Milton, Vaughan, Toronto, Richmond Hill, Markham, North York, Scarborough; making a decision to Buy a home in Brampton is a great choice.

The Accessibility of Travel and cultural diversity has allowed Brampton to become a fast growing city and hot spot for individuals and families looking to Buy a Home in Brampton. Individual or families who are New to Canada, can feel like they are still connected to their roots as Brampton has many religious places of warship, shops, and restaurants within small ethnic communities in various pockets spread throughout Brampton. Feeling connected to a community is what makes individuals and families want to live in a particular city and make it their home.

The experience of Brampton Mortgage Broker – Rumy Gill, has helped many New to Canada and First Time Home Buyers, and if you are New to Canada can make Buying a Home in Brampton a real possibility. Brampton has a lot of homes for sale within affordable price range. Homes prices are in an affordable price range for the GTA, starting from the just below $300,000 and ranging all the way up to Million dollars and above. Brampton truly offers a price range for everyone, looking to buy a home whether you are looking to start of small with a one bedroom or you are looking for a family home. There are a wide variety of housing options for resale properties, such as condos, town homes, semi- detached homes, detached homes, custom built homes, Estates and builder homes.

The most important part of being able to Buy a Home in Brampton is making sure the financial aspects are all covered and you can comfortably afford and be Approved for the home you are looking to purchase. Remember buying a home is not like grocery shopping, it is the single biggest and important financial decision you will make, so you want to make sure you get it right the first time.

That is where a Mortgage Broker can help guide you through the financing process of buying a home. Rumy Gill is an experienced Mortgage Broker helping First Time Home Buyers and New to Canada clients and Real Estate Agent in Brampton finance their home purchase. Get in touch with a Mortgage Broker who can help you with your Mortgage Approval, contact Mortgage Broker Rumy Gill today.

Buy a Home in Brampton | Brampton Mortgage Broker - Rumy Gill
Buy a Home in Brampton | Brampton Mortgage Broker – Rumy Gill

Rumy Gill – Mortgage Broker

Direct: 416-855-0545 Ext 101
Email: Rumy@BramptonMortgageBroker.com

Office : 2260 Bovaird Dr. E. Unit 202A
Brampton, ON L6R 3J5

Mortgage Intelligence Inc. – Lic# 10428

First Time Home Buyers in Ontario

First Time Home Buyers in Ontario and anyone New to Canada have a goal of one day of buying a home, but most of them are not sure how to make that goal happen soon enough. That’s where a Mortgage Brokers are able to help clients who are looking to buy a home, by helping them put an end to paying rent and putting that money towards a Mortgage of their own.

But for First Time Home Buyers in Ontario, and anyone New to Canada it is recommended to start off buying a home at price that is affordable, you don’t want to swing for the fences and go all in and try to buy that dream home the first time around. It is wise to build up to that point, it may take you 3 to 5 years or more to get there.

The basic outline and smart decision would be to first stop paying rent and start paying a Mortgage. This will allow you to own an asset and build up equity so you can leverage your home (which is an asset). Then you can look at selling it for more than the price you bought it for originally, and then move up to a larger home if needed.

A Mortgage Broker can help you with building that 5 year plan so you can achieve that dream home soon that you think. Paying rent is not a bad thing, but it should not be permanent. Paying rent should be the grounds for having a place to live until you can save up for a large enough of down payment so you can have a place of your own. The problem is most people have finding ways to build up savings for a down payment, but clients who work with a Mortgage Broker get access to strategies which are customized to your situation by leveraging proven saving and investing techniques to build and further your down payment so you can buy a home.

If you were to do the math on paying over a 5 year period, you would see that all that money would be better put towards a Mortgage and having your own home. Let’s just say you are paying $1,200/month for rent, over a year that would be $14,400 and over 5 years that would be $72,000! None of this money will come back to you. All of this money will be put towards to having a place to live and spent on rent, where the landlord will be paying down their own Mortgage because they own the home.

As a First Time Home Buyer in Ontario, a smart decision would be to be buying a home of your own so you can put these rent payments towards your own Mortgage, you can start building equity in your home through lowering your Mortgage balance, and after 5 years you can lower your monthly Mortgage payments and save even more money.

If you are a First Time Home Buyers in Ontario or New to Canada and you want to get more information because you are looking to buying a home one day then you need to contact me, Brampton Mortgage Broker – Rumy Gill. I have helped many First Time Home Buyers in Ontario buy a home and I can help you achieve your dream of home ownership too.

First Time Home Buyers in Ontario | Brampton Mortgage Broker - Rumy Gill
First Time Home Buyers in Ontario | Brampton Mortgage Broker – Rumy Gill

Rumy Gill – Mortgage Broker

Direct: 416-855-0545 Ext 101
Email: Rumy@BramptonMortgageBroker.com

Office : 2260 Bovaird Dr. E. Unit 202A
Brampton, ON L6R 3J5

Mortgage Intelligence Inc. – Lic# 10428

Mortgage Lenders

Variety being the spice of life, Brampton Mortgage Broker – Rumy Gill can offer you a wide variety of Mortgage Lending options through a vast network or over 50 Mortgage Lenders. Whether you are looking to Purchase a Home or Rental Property, Refinance your current Mortgage, or if you need to Access Equity from your Home or Rental Property working with a Brampton Mortgage Broker – Rumy Gill is your best option for you.

Typically the Big 5 Banks are what most people think of when they are looking for a Mortgage, but did you know that our Mortgage Lenders consist of 2 of the 5 Big Banks, Credit Unions, Alternate Lenders, Sub Prime Lenders (B Lenders) and Private Lenders.

Yes that is correct, by working with these many different type of Lenders, Mortgage Brokers are able to access exclusive products and solutions through a variety of Lending programs where Local Banks are not able to.

Utilizing these Lenders Programs have many benefits, here are just a few;

Great Rates

Our Mortgage Lenders are all fighting for your business, and are looking to take on top quality clients. Our Lenders will often run Mortgage Rate Promotions to capture your business, and these Great Rates are known to be better than what your current Mortgage Lender or Bank is able to offer you.

Bad Credit Mortgage

Mortgage Lenders | Bad Credit Mortgage | Brampton Mortgage Broker - Rumy Gill
Mortgage Lenders | Bad Credit Mortgage | Brampton Mortgage Broker – Rumy Gill

Having a Bad Credit Mortgage situation can ruin your chances of getting a Great Mortgage Rate Banks offer. Banks won’t even look at you for a Mortgage, as their only focus is to deal with top quality A plus Credit Clients, but does that mean your Mortgage can’t be Approved. We work with Bad Credit Mortgage Lenders who have special programs designed for Bad Credit Mortgage clients. Our Mortgage Lenders offer short term Mortgages at Great Mortgage Rates and they will work with you to put steps in place to help you build a plan around repairing your Credit Score. All this extra work is done so you can get all the benefits of getting even Better Mortgage Rates just like our top quality A plus Credit Clients enjoy. It will just take us a bit of time to get you there as well.

Self Employed Mortgage

Mortgage Lenders | Self Employed Mortgage | Brampton Mortgage Broker - Rumy Gill
Mortgage Lenders | Self Employed Mortgage | Brampton Mortgage Broker – Rumy Gill

Being Self Employed can work against you when you are trying to get Mortgage Approved. This can be because you declare low income on your personal taxes or you have been in business for less than 2 years, or your average income over 2 years is not enough. One thing is for sure, Banks don’t make it easy for Self Employed Mortgage clients to get their Mortgage Approved but our Lenders do. Our Lenders have designed special Mortgage Programs for Self Employed Mortgage clients. So if you are in business for less than 2 years, or are showing low income on your personal taxes, or your 2 year average income is not enough; you can still get your Mortgage Approved at Great Rates with the flexibility of short Mortgage terms. Our Lenders understand the importance of being Self Employed and they judge your Mortgage qualification differently than the Banks, and helping you get your Mortgage Financing Approved.

Home Equity Loan

Home Equity Loan | Brampton Mortgage Broker - Rumy Gill
Home Equity Loan | Brampton Mortgage Broker – Rumy Gill

Over the course of your Mortgage, there will be times where you will need to access the Equity in your Home but a Mortgage Refinance will not work Either you will be not qualify due to your Income or Credit situation or the Penalty to break your Mortgage will be too much. This is where a Home Equity Loan from our Mortgage Lenders can provide you much needed financial relief. A Home Equity Loans is a loan that qualifies you on the basis of the Equity you have in your home and not your Income or Credit.  Approvals are based on the value of your Home and unused Equity available. Our Lenders can help you utilize your Home’s Equity  with a Home Equity Loan so you can get started on your Home Renovation plans, Debt Consolidation, or get access to cash for any reason possible.

Rental Property Mortgage

Rental Property Mortgage | Brampton Mortgage Broker - Rumy Gill
Rental Property Mortgage | Brampton Mortgage Broker – Rumy Gill

After a certain number of Rental properties the Bank will not Approve you for any more Rental Property Mortgages. Even if these properties are cash flowing and covering the cost of the expenses that come with owning them, there is a hard cut off after you own 3 to 4 properties and if you are lucky 5. But good news for you is that our Lenders work with Investors and Approve Rental Property Mortgages past the Banks threshold. That means you continue on purchasing these cash flowing properties and building your Real Estate portfolio. Don’t let a good deal just go by, our Lenders are here to help you secure the financing for your Rental Property Mortgage needed so you can take advantage of a Great Opportunity when it arises.

So as you can see Mortgage Lenders offer you many Great Programs for your Mortgage Financing needs.  Get in touch with Brampton Mortgage Broker – Rumy Gill Today, to take advantage of these Programs and secure yourself a Great Mortgage Rate.

Mortgage Lenders | Brampton Mortgage Broker - Rumy Gill
Mortgage Lenders | Brampton Mortgage Broker – Rumy Gill

Rumy Gill – Mortgage Broker

Direct: 416-855-0545 Ext 101
Email: Rumy@BramptonMortgageBroker.com

Office : 2260 Bovaird Dr. E. Unit 202A
Brampton, ON L6R 3J5

Mortgage Intelligence Inc. – Lic# 10428

Mortgage Refinance in Brampton

A Mortgage Refinance in Brampton can provide a lot financial freedom and relief of any financial pressure you may be under.

Your home is more powerful than you think, not only does it provide you shelter and place where you can create memories, it is also an asset which can be used as a Debt Consolidation Super Tool through a Mortgage Refinance in Brampton.

As a Home Owner, you have the option to take the smart approach to pay downing High Interest Debt. By utilizing low Mortgage rates you’ll be cash positive at the end of the month instead of in the hole. This can really give your finances a much needed upgrade. If you’re worried about penalties or if you don’t think it can make much difference by taking advantage of a Mortgage Refinance in Brampton, think again.

Carrying around your high-interest credit card debt, and loans, it is not doing you any good. You’re Monthly Payments that you are making are just paying down the interest and hardly make enough of an impact to see a significant change in the outstanding balance.

Mortgage Refinance in Brampton | Brampton Mortgage Broker - Rumy Gill
Mortgage Refinance in Brampton | Brampton Mortgage Broker – Rumy Gill

It’s time you took a Smarter and Faster Approach paying off that debt and rolled it into your mortgage so you can start generating some real  monthly savings you can put back you’re your pocket, hundreds a month and over thousands of dollars over the years.

You’re already making your monthly mortgage payments anyways, so why not just pay that debt at the same time in one easy payment and a much lower monthly payment to you?

Don’t believe me?  Let me show you just how so,

Here are two situations where Brampton Mortgage Broker – Rumy Gill was able to Help Clients with lowering their monthly payments by making one easy payment at a much lower monthly payment with a Mortgage Refinance in Brampton.

 

Situation 1:

A Truck Driver (Owner Operator) from Brampton, was able to pay off his Truck Loan of $55k in full and save him over $900/month by rolling it into his Mortgage and over $11,000 per year!  That’s a Saving of Over 40% a Month!

 

Before Refinance After Refinance
Truck Loan ($55k) $1,200/month Truck Loan ($55k) Paid
Mortgage Penalty $0 Mortgage Penalty $3, 000.00
Mortgage $200k at 3.65% with 25 year Amortization Mortgage $258k at 3.19% with 25 year Amortization
Mortgage Payments $1,017.40/month New Mortgage Payments $1,249.11/month
Total Monthly Payments $2, 217.40/month Total Monthly Payments $1,249.11/month
Monthly Savings $0 Monthly Savings $968.29 Yearly Savings $0 Yearly Savings $11,619.48
Saving Percentage 0% Saving Percentage 43.66%

The Best Part for our Truck Driver Client is that even with paying the Penalty to break the existing Mortgage of $3,000, he was able to net a monthly savings of over $900/month and Over $11,000/year. Now he can use that $968.29 a month or $11,619.48 a year towards another Truck where he can earn more income or invest that $968.29 a month or the $11, 619.48 a year by setting up an investment portfolio. The Options are wide open for our Client, moving forward.

Mortgage Refinance in Brampton | Brampton Mortgage Broker - Rumy Gill
Mortgage Refinance in Brampton | Brampton Mortgage Broker – Rumy Gill

Situation 2:

A Department Store Manager from Brampton, was able to Pay off her Credit Card Debt of $16k where she was paying $400/month ($4,800 a year), and get $7k in cash she needed to purchase a used Car for her son.

Our Client was able to save over $485.81 a month or $5,052.24 a year by rolling her credit card debt into her Mortgage. That’s a Savings of Over 20% a Month.

Before Refinance After Refinance
Credit Card Debt ($16k) $400/month Credit Card Debt ($16k) Paid
Cash Needed $7,000 Still Need Cash Needed $7,000 Received
Mortgage Penalty $0 Mortgage Penalty $2, 000.00
Mortgage $325k at 2.95% with 25 year Amortization Mortgage $350k at 3.19% with 30 year Amortization
Mortgage Payments $1,532.74/month New Mortgage Payments $1,511.72/month
Total Monthly Payments $1,932.74/month Total Monthly Payments $1,511.72/month
Monthly Savings $0 Monthly Savings $421.02
Yearly Savings $0 Yearly Savings $5, 052.24
Saving Percentage 0% Saving Percentage 21.78%

The Best Part for our Department Store Manager client is that she was looking at getting a Used Car Loan where the monthly payments would have costed her $600/month or $7,200 over a year . We were able to save her that monthly or yearly expense.

But even with paying the Penalty of $2,000 to break the existing Mortgage, she was able to net a monthly savings of $421.02/month or $5,052.24 a year. Not only were her credit card debt paid off in full, she was able to get $7,000 in cash she needed to purchase a used Car for her son instead of getting a High Interest Car Loan. So if we were to really look at what we saved our client it would be just over $1,000/month or $12,000 a year if she had gotten the Used Car Loan and not move forward with a Mortgage Refinance in Brampton.

 

How is possible save all that Money with Just rolling your debt into your Mortgage?

Well it is really easy, your Mortgage is able to provide you a lower rate of interest than the debts you already have, like credit cards, personal loans, truck loans, car loans, pay day loans, etc.

You get the flexibility of low monthly payments because your Debt gets rolled into your Mortgage and spread over the course of your Mortgage, which can be stretched to 30 years to help you save the most amount of money.

Something all Home Owners should consider…..

You’re already paying your Mortgage, so why not make it easier on your Finances and roll everything into one payment……You Should, It’s a really Good Idea!

So if you have any High Interest Debts like:
Car Loan Payments
Credit Card Payments
Pay Day Loans
Truck Loans
Personal Loans

And you are are making Monthly Payments of $400/month or $800/month or $1,200/month or More, then it make senses to roll these payments into your Mortgage so you can start saving money every month.

By cutting down on the High Interest Debt you pay will allow you to have money you can Bank on, and will allow you to have more money for the things that matter the most to you.

Contact Brampton Mortgage Broker – Rumy Gill, today find out how much you can save by utilizing a Mortgage Refinance in Brampton option to eliminate your monthly High Interest Debt payments.

Mortgage Refinance in Brampton | Brampton Mortgage Broker - Rumy Gill
Mortgage Refinance in Brampton | Brampton Mortgage Broker – Rumy Gill

Rumy Gill – Mortgage Broker

Direct: 416-855-0545 Ext 101
Email: Rumy@BramptonMortgageBroker.com

Office : 2260 Bovaird Dr. E. Unit 202A
Brampton, ON L6R 3J5

Mortgage Intelligence Inc. – Lic# 10428

Why Use a Mortgage Broker? Here are 3 Great Reasons Why

Most People are unaware of the benefits when you use a Mortgage Broker, most people think they are only there for people with Bad Credit or if you have been declined by the Bank or of you need Private Financing. Well let me just tell you that is not true. I have been a Broker for many years and I have helped all types of clients in many situations with their Approval. But let me share with you three great benefits when you use a Mortgage Broker.

  1. Great Rates
Low Mortgage Rates | Use a Mortgage Broker | Brampton Mortgage Broker - Rumy Gill
Low Mortgage Rates | Use a Mortgage Broker | Brampton Mortgage Broker – Rumy Gill

Did you know Brokers have access to Multiple Lenders who they send business to on a daily basis. Because of this volume they send to the multiple Lenders they work with, Brokers can access and negotiate Great Rates and even get access Special Limited Time Rates not available to the public. These Rates are Exclusive to Brokers and their clients.

Brokers have great rates for all types of clients and their unique situations, even if you have excellent credit, bad credit, are self employed or have been declined by the Bank. There is No need to worry a Broker can help you with finding the Best Rate for your situation from the many Lenders who they work with. The easiest way to get the Best Rate is to just contact a Broker.

  1. Service
Mortgage Service | Use a Mortgage Broker | Brampton Mortgage Broker - Rumy Gill
Mortgage Service | Use a Mortgage Broker | Brampton Mortgage Broker – Rumy Gill

A Broker works for you, the client and it is the Broker’s job to represent you to the Lenders. It is important to remember that Brokers work for you and not the Lenders, so that means they will always look out for your best interest and put your needs first before anyone. Brokers go above and beyond for their clients to ensure they are getting the best service possible for their Financing. This means your Broker is available when you are, so if you work from 9am to 6pm during the week days, a Broker can work around your schedule to get you Approved. If you live a fast paced life or work the long hours then it makes perfect sense to work with and use a Mortgage Broker.

  1. Options
Mortgage Options | Use a Mortgage Broker | Brampton Mortgage Broker - Rumy Gill
Mortgage Options | Use a Mortgage Broker | Brampton Mortgage Broker – Rumy Gill

Did you know that Brokers have access to up to over 50 Lenders, which include most of the Major Banks, Credit Unions, Alternate Lenders, and Private Lenders.

With so many Lenders available to choose from, a Broker is ready to help with and find a Approval for almost any situation and provide you the Best Options that work for your situation.

So that means if you are looking to Buy a Home, Refinancing, Renewal, looking for an Equity Take Out, Debt Consolidation or even a Home Renovation then it is in your best interest to work with a Broker for your Approval.

 

Contact a Mortgage Broker Today

Rumy Gill – Mortgage Broker
Direct: 416-855-0545 Ext 101
Email: Rumy@BramptonMortgageBroker.com

Office : 2260 Bovaird Dr. E. Unit 202A
Brampton, ON L6R 3J5

Mortgage Intelligence Inc. – Lic# 10428