North Power Mortgages Inc.

Buying a home will probably be the largest and most significant purchase you will make in your lifetime! We at North Power Mortgages work with people who can or can't prove their income, who own their own businesses, work on commission, and maybe just aren’t salaried employees. We help our clients overcome the obstacles and find lenders who are willing to offer them the best suitable mortgage. We act with integrity. We provide value. We innovate and execute. We’re passionate about financing. We’re always available. Let’s chat about your options! _ North Power Mortgages Inc. 30 Saint Patrick Street, Unit 310 Toronto ON M5T 3A3 FSRA Lic #13625 Get In Touch +1 647-347-4100 info@northpowermortgages.ca #mortgages #mortgageagents #mortgagebroker #mortgagebrokerage #torontorealtor #firsttimehomebuyer #realtor #torontorealestate

We are so grateful for our clients. You deserve complete honesty in your financial decisions, and at North Power, we exist to protect your most important financial investments: Our mission is to deliver the highest level of service and result within the Canadian Mortgage Industry. We at North Power Mortgages work with people who can or can't prove their income, who own their own businesses, work on commission, and maybe just aren’t salaried employees. We help our clients overcome the obstacles and find lenders who are willing to offer them the best suitable mortgage. We act with integrity. We provide value. We innovate and execute. We’re passionate about financing. We’re always available. Let’s chat about your options! _ North Power Mortgages Inc. 30 Saint Patrick Street, Unit 310 Toronto ON M5T 3A3 FSRA Lic #13625 Get In Touch +1 647-347-4100 info@northpowermortgages.ca #mortgages #mortgageagents #torontomortgages #mortgagecanada #canada #toronto #torontorealtor #torontorealestate #clientreview 

Expansion to 30 year amortizations to all first-time homebuyers and to all buyers of new builds, officially became effective yesterday on December 15, 2024. By offering lower monthly mortgage payments to all first-time buyers and buyers of new builds, more Canadians, especially younger generations, will be able to buy a home. Starting December 15, insured mortgages are getting an update with two key changes: 1. Increased priced cap for insured mortgages, rising from $1M to $1.5M 2. 30-year amortizations for all first-time home buyers and those purchasing new builds (previously was 25 years) Let’s chat about your options! _ North Power Mortgages Inc. 30 Saint Patrick Street, Unit 310 Toronto ON M5T 3A3 FSRA Lic #13625 Get In Touch +1 647-347-4100 info@northpowermortgages.ca #mortgages #mortgageagents #mortgagestoronto #mortgagescanada #canadamortgage #mortgageprofessionals #canadamortgages #torontorealtor #torontorealestate #realtor 

You should obtain your mortgage pre-approval, before you start looking for your future home. A mortgage pre-approval is a process that provides you with significant information on your property search: The Maximum amount you can afford. Monthly mortgage payments based on the purchase price. The mortgage rate on your future mortgage. Send us a message and let’s chat about your options! _ North Power Mortgages Inc. 30 Saint Patrick Street, Unit 310 Toronto ON M5T 3A3 FSRA Lic #13625 Get In Touch +1 647-347-4100 info@northpowermotgages.ca #mortgageagents #mortgagebroker #mortgageagent #mortgagestoronto #mortgages #torontomortgage #torontomortgages #realestate #mortgagepreapproval #realtor #realtors #torontorealtor #firstttimehomebuyer

BREAKING NEWS The Bank of Canada has lowered its policy rate by 50 bps to 3.25%. This marks the fifth consecutive cut since June. Next BoC Announcement: January 29, 2025 Send us a message and let’s chat about your options! _ North Power Mortgages Inc. 30 Saint Patrick Street, Unit 310 Toronto ON M5T 3A3 FSRA Lic #13625 Get In Touch +1 647-347-4100 info@northpowermotgages.ca #mortgages #bankrate #bankofcanada #mortgageagents #mortgageagent #mortgagetoronto #mortgagebrokers #mortgagestoronto

Mortgage refinancing can prove beneficial in several ways: Take advantage of lower interest rates: The interest on a fixed rate mortgage that you took several years ago may have dropped drastically. Refinancing the existing mortgage will entitle you to avail of the reduced interest rate. Do the things you always wanted: A Mortgage refinance could provide you with peace of mind in doing things you always wanted such as help with kids’ education costs, take that dream vacation, buy the perfect vehicle, get a home renovation and so much more. You could purchase a residential property, including rental properties of up to four units. Consolidating multiple mortgages into one: Paying the installments of two or more mortgages at the same time can be quite a burden for most individuals. The best solution in this case is to consolidate the multiple mortgages into one, with a fixed monthly interest rate and a longer repayment duration. Pay off other debts: The proceeds from your refinanced mortgage can be used to pay off credit card bills and other similar expenses. Since mortgage interest is 100% tax deductible, you end up saving a considerable amount. Make cash provisions for emergency situations: You can refinance your existing mortgage to free a larger amount of cash, depending on your home equity. Since a mortgage is a secured loan, the interest applied is considerably lower than that of an unsecured loan. Let’s chat about your options! _ North Power Mortgages Inc. 30 Saint Patrick Street, Unit 310 Toronto ON M5T 3A3 FSRA Lic #13625 Get In Touch +1 647-347-4100 info@northpowermortgages.ca #northpowermortgages #mortgagebrokerage #mortgagebroker #mortgages #mortgageagent #torontomortgages #mortgageagents #firsttimehomebuyer #realtors #realtor #realestate #torontorealestate

FAQ WITH NPM - WHAT HAPPENS IF I DON’T HAVE THE FULL DOWN PAYMENT AMOUNT? There are programs available that enable you to use other forms of down payment, such as from your RRSPs, a cash-back product, or a gift. Let’s chat about your options! _ North Power Mortgages Inc. 30 Saint Patrick Street, Unit 310 Toronto ON M5T 3A3 FSRA Lic #13625 Get In Touch +1 647-347-4100 info@northpowermortgages.ca #northpowermortgages #mortgagebrokerage #mortgagebroker #mortgages #mortgageagent #torontomortgages #mortgageagents #firsttimehomebuyer #realtors #realtor #realestate #torontorealestate

First-Time Home Buyer Guide: Path to Your First Property Create a Budget: Identify how much you can afford for a down payment and monthly mortgage payments. Consider using accounts like the First Home Savings Account (FHSA) or Tax-Free Savings Account (TFSA) for tax advantages. Upfront and Ongoing Costs: Save for a down payment (ideally 20% to avoid mortgage default insurance) and be aware of closing costs, which can be 3-5% of the home’s price. Monthly payments will include mortgage principal and interest, property taxes, and insurance. Securing a Mortgage: Compare offers from multiple lenders to find the best interest rates. Be prepared to pass a mortgage stress test that ensures you can handle increased interest rates. Government Assistance: Explore programs like the RRSP Home Buyers’ Plan, which allows tax-free withdrawals from retirement savings, and the Home Buyers’ Tax Credit, offering tax rebates for first-time buyers. Real Estate Agents: Work with an experienced agent who understands the local market to help navigate bidding wars and identify suitable properties. Expect Challenges: Be prepared for a competitive market where you might not get the first home you like. Patience and flexibility are key. Let’s chat about your options! _ North Power Mortgages Inc. 30 Saint Patrick Street, Unit 310 Toronto ON M5T 3A3 FSRA Lic #13625 Get In Touch +1 647-347-4100 info@northpowermortgages.ca #mortgages #mortgageagents #mortgagebrokerage #mortgage #mortgageagent #torontomortgages

We are so grateful for our clients. You deserve complete honesty in your financial decisions, and at North Power, we exist to protect your most important financial investments: Our mission is to deliver the highest level of service and result within the Canadian Mortgage Industry. We at North Power Mortgages work with people who can or can't prove their income, who own their own businesses, work on commission, and maybe just aren’t salaried employees. We help our clients overcome the obstacles and find lenders who are willing to offer them the best suitable mortgage. We act with integrity. We provide value. We innovate and execute. We’re passionate about financing. We’re always available. Let’s chat about your options! _ North Power Mortgages Inc. 30 Saint Patrick Street, Unit 310 Toronto ON M5T 3A3 FSRA Lic #13625 Get In Touch +1 647-347-4100 info@northpowermortgages.ca #mortgageagents #mortgageagent #mortgagebroker #mortgagebrokers #mortgages #mortgageagenttoronto #torontomortgage #clientreview #firsttimehomebuyer #firsttimehomebuyertips #realtor #realestatetoronto

Things to Remember When Looking for a new Mortgage: Don’t buy a new car or trade-up to a more expensive lease. Don’t quit your job or change jobs. Even if it’s a better-paying job, you still are likely to be on a probationary period. Don’t change industries, decide to become self-employed or accept a contract position even if it’s within the same industry. Delay the start of your new job, self-employment or contract status until after the funding date of your mortgage. Don’t transfer large sums of money between bank accounts. Lenders get especially skittish about this one because it looks like you’re borrowing money. Be ready to document cash transactions or money movements. Don’t forget to pay your bills, even ones that you’re disputing. This can be a real deal-breaker. If the lender pulls your credit bureau prior to closing and sees a collection or a delinquent account, the best you can hope for is that they make you pay off the account before they will fund. You don’t want to have to scramble to pay off a debt at the last minute! Don’t open new credit cards. Again, just wait until after your funding date. Let’s chat about your options! _ North Power Mortgages Inc. 30 Saint Patrick Street, Unit 310 Toronto ON M5T 3A3 FSRA Lic #13625 Get In Touch +1 647-347-4100 info@northpowermortgages.ca #mortgages #mortgageagents #mortgagebroker #firsttimehomebuyer #homebuyertips #realtortoronto #realestatetoronto #torontorealtor #mortgagecanada #torontomortgage