Here is great read from where most speakers and coaches still go to get thier information. The book Think and Grow Rich by Napoleon Hill. This is a great read that put into action everyday, will have fantastic results in your life. Enjoy Jared.
Give to Get. . .
by Napoleon Hill
Your most preciously valued possessions and your greatest powers are often necessarily invisible and intangible. No one can take them. You and you alone can share them.
The more you share, the more you will have.
Now if you doubt this, you can prove it to yourself by giving: a smile to everyone you meet; a kind word; a pleasant response; appreciation with warmth from the heart; cheer; encouragement; hope; honor, credit, and applause; good thoughts; evidence of love for your fellowmen; happiness; a prayer for the godless and the godly; and time for a worthy cause with eagerness.
If you do experiment by giving any one of the above, you will also prove to yourself what we have found is one of the most difficult principles to teach those who need it most: how to cause desirable actions within yourself. Until you do learn, you will fail to realize that what is left with you when you share it with others will multiply and grow; and what you withhold from others will diminish and decrease. There, share that which is good and desirable and withhold that which is bad and undesirable.
Source: Success Through A Positive Mental Attitude. Prentice-Hall. 1960. Pgs. 165 & 166.
Jumat, 30 November 2012
Jumat, 16 November 2012
Mortgage Rule Changes as of November 01, 2012
Mortgage Rule Changes as of November 01, 2012
For your convenience, below is a summary of the primary mortgage changes. Keep in mind though, as an independent mortgage firm, we have access to a wide variety of lenders who offer alternative solutions. So be sure if you or your clients require financing, to call our office first and get a personalized mortgage analysis.
Have a super weekend! www.dreyergroup.ca 1-800-687-9020
Mortgage Rule Changes as of November 01, 2012
1. Lines of Credit: You can now only borrow to a maximum of 65% loan to value of your property - in the past it was 80%
2. Self-Employed: Clients who are self-employed and want to use their "stated income" (gross incomes), can go to a maximum loan to value of 65% on conventional mortgages.
3. All Variable Rate Mortgages must use the 5-year Bank of Canada benchmark rate to qualify as well as any fixed or variable terms less then 5 years insured or conventional must qualify on the 5 year fixed Bank of Canada benchmark rate. For example, if you secure a 2 year fixed rate at 2.79%, your mortgage application will be qualified based on the 5 year fixed benchmark with currently sits at 5.24%
Changes as of July 09, 2012
The changes listed below ONLY effect purchasers who plan on putting less than 20% down payment otherwise known as high ratio mortgages, insured through CMHC or Genworth.
These changes speak to ensuring we have a strong first-time homebuyers, who are building equity in their properties, to soften debt exposure and limit the loan to value ratios on higher priced real estate.
It is important to understand again that these current changes will NOT effect consumers providing a down payment of 20% or more.
CHANGES ANNOUNCED
1. Amortizations reduced to 25 years from 30 years. (on properties with less than 20% down payment)
EXAMPLE*:
A mortgage of $250,000 with a 30 year amortization at 3.09% 5-year fixed rate = $1094.89 monthly payment
A mortgage of $250,000 with the new 25 year amortization at 3.09% 5-year fixed rate = $1227.54 monthly payment
Difference of $132.65 per month
2. Refinancing is REDUCED from 85% Loan-to-value (LTV) to 80% - no change to purchases. (It is important to note that most consumers currently choose to do refinancing to a maximum of 80% LTV to avoid insurance fees so this specific change should have very little impact)
3. Properties purchased over $1 Million no longer will eligible for mortgage insurance (If the home purchase price is under $1 Million dollars consumers can still purchase up to 95% LTV with insurance – anything over $1 Million dollars, 20% down payment is required).
4. GDS and TDS set at 39% and 44% if credit score is over 680 - The reduction in amortization combined with the lowered GDS ratio could affect a number of people’s ability to qualify. If your credit score is below 680 you can qualify on a lesser GDS of 34% and TDS of 40
THE GOOD NEWS
• 5% down payment rule still remains in effect for property values under $1 Million dollars
• Mortgage brokers have access to specialty lenders in addition to mainstream banks and trust companies to help you get approved even if you fall outside the guidelines.
As the mortgage qualification landscape becomes more complicated, it is critical consumers work with an independent mortgage professional that understand these changes and can help navigate the rules to ensure the best mortgage solution.
Book Your Best Canadian Mortgage Rate 1-800-687-9020 www.dreyergroup.ca
For your convenience, below is a summary of the primary mortgage changes. Keep in mind though, as an independent mortgage firm, we have access to a wide variety of lenders who offer alternative solutions. So be sure if you or your clients require financing, to call our office first and get a personalized mortgage analysis.
Have a super weekend! www.dreyergroup.ca 1-800-687-9020
Mortgage Rule Changes as of November 01, 2012
1. Lines of Credit: You can now only borrow to a maximum of 65% loan to value of your property - in the past it was 80%
2. Self-Employed: Clients who are self-employed and want to use their "stated income" (gross incomes), can go to a maximum loan to value of 65% on conventional mortgages.
3. All Variable Rate Mortgages must use the 5-year Bank of Canada benchmark rate to qualify as well as any fixed or variable terms less then 5 years insured or conventional must qualify on the 5 year fixed Bank of Canada benchmark rate. For example, if you secure a 2 year fixed rate at 2.79%, your mortgage application will be qualified based on the 5 year fixed benchmark with currently sits at 5.24%
Changes as of July 09, 2012
The changes listed below ONLY effect purchasers who plan on putting less than 20% down payment otherwise known as high ratio mortgages, insured through CMHC or Genworth.
These changes speak to ensuring we have a strong first-time homebuyers, who are building equity in their properties, to soften debt exposure and limit the loan to value ratios on higher priced real estate.
It is important to understand again that these current changes will NOT effect consumers providing a down payment of 20% or more.
CHANGES ANNOUNCED
1. Amortizations reduced to 25 years from 30 years. (on properties with less than 20% down payment)
EXAMPLE*:
A mortgage of $250,000 with a 30 year amortization at 3.09% 5-year fixed rate = $1094.89 monthly payment
A mortgage of $250,000 with the new 25 year amortization at 3.09% 5-year fixed rate = $1227.54 monthly payment
Difference of $132.65 per month
2. Refinancing is REDUCED from 85% Loan-to-value (LTV) to 80% - no change to purchases. (It is important to note that most consumers currently choose to do refinancing to a maximum of 80% LTV to avoid insurance fees so this specific change should have very little impact)
3. Properties purchased over $1 Million no longer will eligible for mortgage insurance (If the home purchase price is under $1 Million dollars consumers can still purchase up to 95% LTV with insurance – anything over $1 Million dollars, 20% down payment is required).
4. GDS and TDS set at 39% and 44% if credit score is over 680 - The reduction in amortization combined with the lowered GDS ratio could affect a number of people’s ability to qualify. If your credit score is below 680 you can qualify on a lesser GDS of 34% and TDS of 40
THE GOOD NEWS
• 5% down payment rule still remains in effect for property values under $1 Million dollars
• Mortgage brokers have access to specialty lenders in addition to mainstream banks and trust companies to help you get approved even if you fall outside the guidelines.
As the mortgage qualification landscape becomes more complicated, it is critical consumers work with an independent mortgage professional that understand these changes and can help navigate the rules to ensure the best mortgage solution.
Book Your Best Canadian Mortgage Rate 1-800-687-9020 www.dreyergroup.ca
Rabu, 14 November 2012
Mortgage Rule Changes History
MORTGAGE RULE CHANGES – YEAR-OVER-YEAR COMPARISON
Between 2006 and early 2008 marked great changes in the mortgage industry. The zero percent down mortgage was introduced and amortization options grew to include 30, 35 and 40-years. Late 2008, in an effort to stabilize consumer borrowing, the government slowly clawed back these changes to where we originally started in 2006. In essence, we have come full circle. Below is a comparison of how these changes have rolled out over the past 4 years. Using the services of an Independent Mortgage Professional will help you access a wide variety of lenders. We can guide you through the process of securing the best mortgage product at the lowest rate.
2012
- LOC (line of credit) reduction to a maximum of 65% LTV (loan to value)
- Stated income for BFS (business for self) programs require 35% down now (conventional mortgage)
- Cash-back no longer accepted as down payment
- Qualifying rates on conventional lending to now use the 5 year benchmark rate for terms of less than 5 years and VRM’s (variable rate mortgages)
- 30 year amortization gone for high ratio mortgages, now 25 years
- No mortgage insurance (CMHC, etc) for properties over 1 million
- Lower maximum LTV (loan to value) for refinances. Was 85%, now 80%
- GDS (gross debt servicing) reduced from 44% to 39%
- Rental property down payment requirement is now 35% from 20% with many lenders
2011
- 35 year amortization gone for high ratio mortgages, now 30 years
- Lower maximum LTV (loan to value) for refinances. Was 90%, now 85%
- Elimination of government insurance on LOC’s (line of credits)
2010
- Qualifying rates on high ratio lending to now use the 5 year benchmark rate for terms of less than 5 years and VRM’s (variable rate mortgages)
- Lower maximum LTV (loan to value) for refinances. Was 95%, now 90%
- Rental property down payment requirement is now 20% from 5%
2008
- Minimum downpayment changed from 0% back to 5%
- Minimum beacon score of 620 required for high ratio lending
- New loan documentation requirement standards
- 45% maximum TDS ratio
- 40 year amortization gone for high ratio mortgages, now 35 years
For more information on how these changes affect your borrowing, contact the Dreyer Mortgage Team
Jared Dreyer, AMP Dreyer Mortgage Brokers 604 649-5991 jared@dreyergroup,ca www.dreyergroup.ca
Senin, 12 November 2012
Who Took My Desk?
And I'm proud to be a Canadian, where at least I know I'm free. And I won't forget the men/and women who died, and gave that right to me.
~Unknown WATCH NOW
It is that time of year again. The time we stop and remember all the past and present soldiers that fought for our freedom. War is such a terrible state but sadly sometimes we have had no choice. And it is at those times that I am so grateful for all the young men and women who stood up and fought on our behalf..... where would we be today without their courage.
All this week and into early next week Remembrance Day ceremonies will take place at local schools, legions, parks and city halls... join me in taking the time to show your respect and gratitude.... Lest We Forget
The Old Comrade
By Dileas Gu Brath
Every year about this time
You'll see him at the mall
A man who's old and slightly bent,
Who once stood straight and tall.
And if you go you'll see him,
For he's there every day.
Dressed in a Legion blazer,
With poppies in a tray
Who is this ancient warrior
Who sacrificed his youth?
So we could live in freedom,
And all could know the truth.
How many times still in his youth
Did this man go through hell?
How many times watched helplessly,
As comrades around him fell
A dollar coin or maybe five,
It's a small price that I pay,
As I take a poppy,
And start to walk away.
Thank you sir the old man says,
With a voice that's strong and true,
And I turn and look in his eyes,
And say, No Sir... I thank you!
Warm Regards,
Jared Dreyer, AMP
604 649-5991
jared@dreyergroup.ca
Dreyer Group Mortgages Inc.
Proud Member of the VERICO Brokers Network
________________________________________
About Dreyer Group Mortgages, A Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients , we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business. Copywrite © 2008
He remembers...
Things he wants to forget, but can't.
And a tear slides slowly down his cheek...
by Andre Quellette
On November 11th, take time to remember
Who Took My Desk?
Back in September, on the first day of school, Martha Cothren, a social studies high school teacher removed all of the desks out of her classroom.
When first period kids entered the room they discovered that there were no desks they asked
'Ms.. Cothren, where're our desks?'
She replied, 'You can't have a desk until you tell me how you earn the right to sit at a desk.'
They thought, 'Well, maybe it's our grades.'
'No,' she said. 'Maybe it's our behavior.'
She told them, 'No, it's not even your behaviour.'
And so, they came and went, the first period, second period, third period. Still no desks in the classroom.
The final period of the day came and as the puzzled students found seats on the floor of the deskless classroom, Martha Cothren said, 'Throughout the day no one has been able to tell me just what he/she has done to earn the right to sit at the desks that are ordinarily found in this classroom. Now I am going to tell you.'
At this point, Martha Cothren went over to the door of her classroom and opened it.
Twenty-seven (27) War Veterans, all in uniforms, walked into that classroom, each one carrying a school desk. The Vets began placing the school desks in rows, and then they would walk over and stand alongside the wall... By the time the last soldier had set the final desk in place those kids started to understand, perhaps for the first time in their lives, just how the right to sit at those desks had been earned..
Martha said, 'You didn't earn the right to sit at these desks. These heroes did it for you. They placed the desks here for you. Now, it's up to you to sit in them. It is your responsibility to learn, to be good students, to be good citizens. They paid the price so that you could have the freedom to get an education. Don't ever forget it.'
~Unknown WATCH NOW
It is that time of year again. The time we stop and remember all the past and present soldiers that fought for our freedom. War is such a terrible state but sadly sometimes we have had no choice. And it is at those times that I am so grateful for all the young men and women who stood up and fought on our behalf..... where would we be today without their courage.
All this week and into early next week Remembrance Day ceremonies will take place at local schools, legions, parks and city halls... join me in taking the time to show your respect and gratitude.... Lest We Forget
The Old Comrade
By Dileas Gu Brath
Every year about this time
You'll see him at the mall
A man who's old and slightly bent,
Who once stood straight and tall.
And if you go you'll see him,
For he's there every day.
Dressed in a Legion blazer,
With poppies in a tray
Who is this ancient warrior
Who sacrificed his youth?
So we could live in freedom,
And all could know the truth.
How many times still in his youth
Did this man go through hell?
How many times watched helplessly,
As comrades around him fell
A dollar coin or maybe five,
It's a small price that I pay,
As I take a poppy,
And start to walk away.
Thank you sir the old man says,
With a voice that's strong and true,
And I turn and look in his eyes,
And say, No Sir... I thank you!
Warm Regards,
Jared Dreyer, AMP
604 649-5991
jared@dreyergroup.ca
Dreyer Group Mortgages Inc.
Proud Member of the VERICO Brokers Network
________________________________________
About Dreyer Group Mortgages, A Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients , we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business. Copywrite © 2008
He remembers...
Things he wants to forget, but can't.
And a tear slides slowly down his cheek...
by Andre Quellette
On November 11th, take time to remember
Who Took My Desk?
Back in September, on the first day of school, Martha Cothren, a social studies high school teacher removed all of the desks out of her classroom.
When first period kids entered the room they discovered that there were no desks they asked
'Ms.. Cothren, where're our desks?'
She replied, 'You can't have a desk until you tell me how you earn the right to sit at a desk.'
They thought, 'Well, maybe it's our grades.'
'No,' she said. 'Maybe it's our behavior.'
She told them, 'No, it's not even your behaviour.'
And so, they came and went, the first period, second period, third period. Still no desks in the classroom.
The final period of the day came and as the puzzled students found seats on the floor of the deskless classroom, Martha Cothren said, 'Throughout the day no one has been able to tell me just what he/she has done to earn the right to sit at the desks that are ordinarily found in this classroom. Now I am going to tell you.'
At this point, Martha Cothren went over to the door of her classroom and opened it.
Twenty-seven (27) War Veterans, all in uniforms, walked into that classroom, each one carrying a school desk. The Vets began placing the school desks in rows, and then they would walk over and stand alongside the wall... By the time the last soldier had set the final desk in place those kids started to understand, perhaps for the first time in their lives, just how the right to sit at those desks had been earned..
Martha said, 'You didn't earn the right to sit at these desks. These heroes did it for you. They placed the desks here for you. Now, it's up to you to sit in them. It is your responsibility to learn, to be good students, to be good citizens. They paid the price so that you could have the freedom to get an education. Don't ever forget it.'
Kamis, 01 November 2012
Good News First Time HomeBuyers
If you are a First Time Homebuyer afraid you wont be able to enter the housing market with the new mortgage rules, fear not.
This is actually an opportune time to take advantage of the historical low mortgage rates and negotiate better prices on housing, especially in the condo/townhome market. While many feared this market would be the most negatively affected, take a look at these numbers to help put it in perspective:
2007 40 years of amortization (the longest you could get at the time) at an average interest rate of 5.71% - $350,000 = $1,831* would have been your monthly mortgage payment.
2012 25 years of amortization at an average interest rate of 3.29% - $350,000 = $1,704* monthly mortgage payment.
Right away, you'll notice a truly substantial savings in that you'll pay your mortgage off 15 years earlier and approximately $330,000 in interest that would have developed over the 40-year amortization.
For more information on First Time Homebuyer Programs, click here
Call my office now to find out how much you qualify for. If you are not a first time homebuyer and would like more information on your mortgage financing options, we are happy to help.
Please Call 604 649-5991
Warm Regards,
Jared Dreyer - Dreyer Group Mortgage Team
Your Mortgage Professionals
604 649-5991
1-800-687-9020
www.dreyergroup.ca
clientservices@dreyergroup.ca
________________________________________
About Dreyer Group Smiles
Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.
Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.
About Dreyer Group Mortgages, A Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business.
Copywrite © 2008
REFINANCING RATES or
NEW HOME PURCHASE
2.99 % 5 Year Fixed Rate
3.89% 10 Year Fixed Rate
All rates quoted are on approved credit.
This is actually an opportune time to take advantage of the historical low mortgage rates and negotiate better prices on housing, especially in the condo/townhome market. While many feared this market would be the most negatively affected, take a look at these numbers to help put it in perspective:
2007 40 years of amortization (the longest you could get at the time) at an average interest rate of 5.71% - $350,000 = $1,831* would have been your monthly mortgage payment.
2012 25 years of amortization at an average interest rate of 3.29% - $350,000 = $1,704* monthly mortgage payment.
Right away, you'll notice a truly substantial savings in that you'll pay your mortgage off 15 years earlier and approximately $330,000 in interest that would have developed over the 40-year amortization.
For more information on First Time Homebuyer Programs, click here
Call my office now to find out how much you qualify for. If you are not a first time homebuyer and would like more information on your mortgage financing options, we are happy to help.
Please Call 604 649-5991
Warm Regards,
Jared Dreyer - Dreyer Group Mortgage Team
Your Mortgage Professionals
604 649-5991
1-800-687-9020
www.dreyergroup.ca
clientservices@dreyergroup.ca
________________________________________
About Dreyer Group Smiles
Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.
Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.
About Dreyer Group Mortgages, A Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business.
Copywrite © 2008
REFINANCING RATES or
NEW HOME PURCHASE
2.99 % 5 Year Fixed Rate
3.89% 10 Year Fixed Rate
All rates quoted are on approved credit.
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