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Canadian homnebuyers are a lucky lot 1,John Cavan, .M Mortgage Agent LS ,# M 0809 MuArchiects B,4,k,3ge#102,87 Ask your local mortgage planner Feeling lucky? If yau're a Canadian homeowner or buyer, you sbould be feeling pretty fartunate. While bomneowners; south of the barder have been on a rollercoaster - due ta same unrealistie mortgage products and lofty lending expec- tations - here in Canada, we've been surprisingly well buffered [rom the wild mortgage and real estate markets. It ail could have turned out dif- ferently - as it did in the U.S. But the Canadian mortgage communi- ty bas always maintained very prudent lending practices, accord- ing ta mortgage industry legend Bob Ord, wbo founded tbe elite national brokerage Mortgage Arebiteets. And mortgage brokers - located in almost every city and town across the country - have done an excellent and diligent job in bath protecting leaders [rom undue risk, and belping home- buyers avoid credit and payment pitfalls. Similar ta the U.S., there was a time here in Canada when mort- gages were extremely difficult ta get for bomebuyers wbo didn't fit ino the traditional lending 'boxes" at the banks, If von ownied y'our own business,, for example, you were often disadvantaged ta mortgage negotiations. You work bard ta keep your taxable income low (and your profits high), then discover the banks are reluctant ta lend you money, First-time hoine- buyers struggled ta get enough money for their downpay'ment that wauld get them off tbe reatal tread- milI. Immigrants with no credit history in this country fouad themselves unable ta access a good mortgage. Ord points oui that the brokers oif Morigage bichics, for exam- pIc, now bave access to a range ol innovative mortgages ta serve many of the clients who once felI between the cracks at the bank: mortgages for entrepreneurs, spe- cial mortgages for vacation or mnvestment properties, mortgages for new Canadians. .. even mort- gages that repair y'our credit rating. Bright, sunny large 3 lied / 2 bath open concept condo with 2 underground parking spaces. $1000's Upgrades: lght fixture, Maple kitchen cabinets, tumble tile backsplasb,4 crownnîolding thru oui, professionailyI painted in neutral colours. Pt-ire to sell aM 274 900, Cali .Iaeuueline ai 905 693 9827 for mon-dtal Ord observes, too, that longer 4 amortizations help make homeowesi affordable for more Canadians. innovations were launched with a realistic look at involved. Wbile in the U.S., spe- cialty subprime mortgages that were neyer made available in Canada have resulted in very high rates of default. Clients of independent mortgage brokers get access to more than 50 different leaders, which com- pete for the business. Todays homebuyer is asking questions. Tbey want to compare rates, tbey want to have their mortgage designed for their needs, and tbey want to uindcrstancl bo\v to nia1ýc thecir m-origage work for them. The answers - and the produci options - are coming [rom mortgage brokers. Not surprisingly, the industry is continuing to raise the profile of the mortgage as a financial tool. The newest trend among the very top brokers, says Ord, is mortgage planning. Ord says, for example, that many of the Mortgage Architects brokers help qualified homeowners design a tax-deductible mort- gage. The objective of mortgage planning is to incor- porate the mortgage as part ol a total financial strate- gy designecl to managc debt for the creation of wealth. The Canaclian morîgagc market is well positioned for the future: choîce, specializcd products, enhanced information and pcrsonalized scrvice. Ail very good news if you have questions about vour current mort- gage or renewal, have concerns about your current debt load, or if you're thinking about a vacation or invesiment property. For individlual Canadians, opportunity is knocking. John Cavanits ait Approved Moi tgage Planttet wvitlî Mortgoge Ai-chlîcîs. Mortgage questions and .oncns con bc directed to John Coxotîs office, locatcd ai 14f Martin St., Milton. John can bc îeached by phtone: 905- .878-7213 or b ' cînoil: johnj.cavan@îintgai-c.ca. John Cavan ' website is iwwstressJî-ceniot-tgoge.co. Contact .John todayv about your stressfrec inortgoge opportmnities. 4 BDRMS, 3 WSHRMS 2025 SQ FT. MAPLE STAIRS MASTER ENSUITE W/ SEP. SHOWER ENERGY STAR 4 RDRMS, 3 WSHRMS -2753 SQ.FT M.5PLt KITCHEN CABINETS HARDOO FIRS/STAIRS -DOUBLE GARAGE SECOND Fit LAUNDRY 4 BDRMS, 4 WSHRMS -2900 SQ.FF. HARDWOOD FLRS CAS FIREPLACE S/S APPLIANCES 3+1 BDRMS, 3 WSHRMS 2355 SQ.FT. 9' CEILINGS HARDWOOD FLRS SUNKEN FAMILY ROOM -ALL APPLIANCES 4 BDRMS, 3 WSHRMS 30K IN UPGRADES -GRANITE COUNTERS -9 Fl CEILINGS -HARDWOOD FLRS/STAIRS MW -1ý