(905) 441 0770 allen@allenehlert.com

Mortgage Services

Renewal & Refinance

 Time to renew? Need to Refinance?

Let’s get you a better rate!

Mortgage Pre-Approval

 Before you look, get pre-qualified

Before you offer, get pre-approved

Equity Access 

Reverse Mortgages, access equity, consolidate debt

Get Financial Freedom & Security

Investment & Commercial

 Build and Diversify Your Portfolio

Generate Income, Build Wealth

Let me get you a better rate!

Mortgage Renewal

Mortgage renewal is a process that occurs at the end of a mortgage term, which is the duration for which the mortgage agreement and its interest rate are set. This term can vary, typically ranging from 1 to 5 years, although it can be longer. When this term ends, you need to renew your mortgage if you haven’t paid off the balance in full.

What Happens at Renwal?

Improve Your Financial Situation

Renewal provides an opportunity to reassess your financial situation and needs. Don’t blindly renew (although your present lender would love that). Take this opportunity to work with me to take advantage of better terms and rates based on current market conditions, your financial standing, or your future plans.

Flexibility

Mortgage renewal allows you to make changes to get a new mortgage based on your current needs, like switching lenders, changing the type of interest rate (from fixed to variable or vice versa), or adjusting the amortization period.

Unpaid Balance

Most people don’t pay off their entire mortgage balance during the initial term. Therefore, renewal is necessary to continue financing the remaining balance. Legally, a mortgage agreement is bound to the term specified. Once this term expires, a new agreement must be made, either with the same lender or a new one, to continue the mortgage. Time to do better!

Let me get you a better rate!

Mortgage Refinance

Optimize your financial strategy or leverage the equity in your home through expert mortgage refinancing tailored to your unique needs. With access to a wide range of lenders and mortgage products, I offer competitive rates and flexible terms to help you achieve your financial goals. My personalized approach means I take the time to understand your specific circumstances and objectives, to provide customized solutions that align with your long-term plans.

Did you know 60% of Canadians who have a mortgage will refinance at some point during the term?

The Refinance Advantage

Get a Lower Interest Rate

If interest rates have decreased since the original mortgage was obtained, refinancing can allow homeowners to secure a new loan at a lower rate, potentially reducing monthly payments and overall interest costs.

Changing Loan Terms

Refinancing offers the opportunity to change the length of the loan term. For example, you may choose to switch from a 30-year mortgage to lower your payments or switch to a 15-year mortgage to pay off the loan sooner and save on interest.

Accessing Home Equity

Refinance to access the equity you’ve built up in your home through a cash-out refinance, where the new loan amount exceeds the existing mortgage balance, and the you receive the difference in cash.

Paying Off or Removing a Co-Borrower

When you get a mortgage, everyone who is on title is on the mortgage. Refinancing is necessary to remove a spouse or partner from the mortgage after the breakdown of a relationship (divorce/separation). separation. Refinancing is also required to remove a parent or another party who no longer will be on title.

Before you look, get pre-approved

Mortgage Pre-Appoval

Before you go shopping for your dream home, find out exactly how much you have to work with by contacting me for your pre-approval so you can make an offer with confidence.

Mortgage Pre-Approval FAQs

How long is my approval good for?

Different lenders offer different products each with a different rate hold guarantee that can range from 30 to 120 days from the date of approval but 90 days and 120 days are the most common rate hold periods.

What if rates change?

Great news! If the rate increases during this time, my lenders will honour your pre-approval rate, guaranteed! Even better, if rates go down, you’ll get the new, lower rate.

Is pre-qualified the same as pre-approved?

No. Pre-qualification is normally used when people are simply curious about what they may qualify for. A pre-qualification should not be relied upon to make an offer. Call me for your pre-approval and lock in your best rate!

An Essential Part of Retirement Financial Planning

Reverse Mortgages

Today’s Reverse Mortgages are not yesterday’s Reverse Mortgages. The stigma is gone and Reverse Mortgages have become an essential part of retirement financial planning for everyone.  Affluent retirees use Reverse Mortgages to save taxes on investments or acquire additional properties. Average Canadians living their best life use Reverse Mortgages to build wealth, leave inheritance, travel, and enjoy stress-free financial security while always owning their own home. You can do all of it at the same time… all through a Reverse Mortgage.

Someone is going to get your money … might as well be you!

Reverse Mortgages are for Everyone

Tax Savings on Investments

For many affluent retirees, incremental withdrawals from registered plans such as a RRIF can come with a prohibitive 58% effective tax rate. A withdraw of $105,000 extra from a RRIF is necessary just to get just $50,000 to spend after tax. A Reverse Mortgage with a low interest rate would allow an affluent retiree to keep the entire $105,000 and earn higher returns than the amount paid to borrow funds through a Reverse Mortgage, and be able to write off the interest of the Reverse Mortgage as applicable. Contact Allen Ehlert for details.

See: Reverse Mortgages and the Affluent Retiree

Buy an Appreciating Second Home to be Closer to the Kids

Royal LePage predicts house prices to increase 10% this year. Interest on a Reverse Mortgage is substantially less.

You can get a Reverse Mortgage on your home and you will not have to make any monthly payments, allowing you to buy a second home near your kids and grandchildren. Depending on the purchase price and potential renovations, you may even have enough to buy a condo in Arizona or Florida as well.

See: Reverse Mortgage to a Second Dream Home

Enjoy Stress-Free Financial Security

The cost of living is soaring, rent and property taxes are at all-time highs and going higher, and inflation is everywhere. Most Canadians do not have the kind of pension, if they have any pension at all, to avoid struggling financially.

But you made the best financial decision of a life-time, you bought a house and that house built wealth.

Have your house and money too! Live comfortably, travel, and renovate so you can live in the home you love while still being able to provide an inheritance to your children.  Without a Reverse Mortgage, many Canadians would be living in poverty and without dignity. Make your senior years your best years through a Reverse Mortgage.

See: Struggling Financially as a Senior
         Reverse Mortgage: Cushion Against Inflation

Access equity, consolidate and reduce debt, credit repair

Equity Access & Consolidations

You have big plans for your life, and you want to make the most of it. As your mortgage agent, let me lead you through the implications of using your home equity while ensuring that any financial moves align with your overall financial health and goals. My expertise in the mortgage market allows me to build customized solutions that might not be readily apparent or accessible to the average homeowner.

Equity Access Advantage

Get Renovating. Build Your Castle

  • Home Equity Line of Credit (HELOC) or Refinancing: Let me help you tap into your home equity to fund renovations. This could be through a Home Equity Line of Credit (HELOC), which allows you to borrow against the equity in your home, or through refinancing your mortgage to access a lump sum.
  • Finding the Best Rates and Terms: Let me shop the market to find the most favourable rates and terms for your financial situation.
  • Guidance on Loan Amounts: I can guide you on how much you should borrow based on your renovation needs and your home’s current value.

Reverse Mortgage to Financial Freedom

  • Financial Options: Turn a portion of your home equity into a source of cash while maintaining ownership of your home and no monthly payments. Somebody is going to get your money, might as well be you!
  • Customized Financial Solutions: Your home may be your largest asset and should be included in your financial strategy. Use funds to help finance your retirement, purchase another property, obtain tax savings on investments, help children purchase a home, and much, much more while you maintain control.

Debt Reduction and Credit Repair

  • Improving Credit Utilization: By consolidating debts, you can improve your credit utilization ratio, which is a key factor in your credit score.
  • Structured Payment Plan: Let me help you structure your payments in a way that ensures timely repayment, which is crucial for credit repair.
  • Advice on Credit Improvement: Beyond debt consolidation, I offer advice on other strategies to improve your credit score, such as avoiding late payments on other loans or credit cards.
Agricultural Lending Facilities: Beyond the Banks

Agricultural & Farm Financing

Statistics Canada counted around 190,000 farms across the country. Traditionally, most farm owners could depend on financing from Farm Credit Canada or Canada’s major banks. Unfortunately, these offerings are mainly prime deals for borrowers with good history and no issues with repayment.

Yesterday, Today, & Tomorrow

Farming is a Cyclical Business

  • Farming isn’t a ‘straight-line’ business: Bumper crops in good years make up for bad harvests in difficult years. During lean years it can be difficult to show the income to qualify at an institutional lender, leaving farmers struggling for good options; often ignored and misunderstood.
  • In Touch with the Farm: It’s important to work with a mortgage agent who understands the challenges of agriculture; one with a little bit of ‘nature’ on his boots and brawn on his shoulders. ‘City’ lenders like to do the ‘clean stuff’ because they have to maintain certain ratios and performance metrics that often don’t align with the realities down on the farm.

Your Typical Mortgage Agent Is From the City

  • Understanding Farm Financing: Most mortgage agents come from urban centres like Toronto where commercials for second mortgages or private mortgages are to be found everywhere and the dynamics are well understood. Private agricultural lending is different and much less known.
  • Customized Solutions: Farmers need financing options as they buy up land and expand their operations. Agents without a rural upbringing may not know a lot about how farms work. Running a farm is a far more subjective process. Farmers always run the risk of drought, and two different farmers might make very different decisions when planting the same plot of land. Unlike residential or commercial deals, a farm deal is almost entirely about the land, not the buildings on it.

Understanding the Big Picture

  • Agricultural Underwriting: Fundamentally, it’s about looking at the farm as a manufacturing business; understanding the financial performance of the enterprise and gaining a complete communicable assessment of the farm’s financial condition through a comprehensive net worth statement and cash flow projection.
  • Understanding the Circumstances: There are always broader circumstances to consider to truly fill out the ‘big picture’. There needs to be an understanding of what has gone wrong, what has gone right, and putting in place a strategy to go forward.
Diversify your portfolio. Generate income and wealth

Investment & Commercial

A mortgage agent can be an invaluable asset for individuals or companies interested in real estate investment or commercial real estate, whether the goal is to generate income, build wealth, or create a legacy. 

Income, Wealth, Legacy

Advice on Market Trends and Opportunities

Gain competitive insight of market trends, growth trends, and investment opportunities while managing risk and making informed, prudent decisions.

Strategic Financial Planning

Cash flow analysis to certify the financial viability of a project with alignment to long-term financial planning ensuring alignment with broader wealth-building or legacy goals.

Support for Diverse Investment Goals

A strategy needs to be scalable to meet today’s and tomorrow’s investment goals. Whether the objective is to own a few rental properties or develop a large scale commercial project, mortgage solutions also need to be scalable to meet evolving needs.

Protect Your Loved Ones, Home, and Savings

Mortgage Life Insurance

Seventy-five percent of Canadian households say that they would have difficulty paying everyday living expenses like their mortgage if the primary breadwinner were to pass away. It doesn’t have to be that way. Mortgage life insurance is a simple, convenient and affordable way to protect your family’s future, with coverage that pays off the mortgage balance if the mortgage holder passes away.

Learn more about Manulife Mortgage Protection Plan

Protect Your Loved Ones

Coverage can start immediately

No waiting period

Budget friendly payment options.

Monthly, semi-monthly or weekly

You're covered wherever you work

Coverage stays with you wherever your career takes you

Partial Coverage

Flexibility to choose the amount of coverage that works for you and your budget

Protection if you’re unable to work

Mortgage Disability Insurance

One in three Canadians will be disabled for 90 days or more before age 65. If that were to happen to you, would you have trouble keeping up with your mortgage payments? Many people would, which is why mortgage disability insurance is so important. If you are totally disabled for 60 days or more, it will cover your monthly mortgage payments so you can focus on getting better.

Learn More about Manulife Mortgage Protection Plan

Focus on getting better

Up to $10,000/month coverage

Coverage up to $10,000/month for a combined maximum of 24 months

Bonus Disability Payment

Includes a bonus disability payment to help you get back on your feet once you return to work if you haven’t already received the maximum number of payment

Life Insurance Complimented

Can be complemented with mortgage life insurance

Top-up Existing Coverage

Preserve your current coverage for other priorities

Don’t Go it Alone. Get a Professional on Your Side.

You owe it to yourself to have a professional on your side. Don’t go it alone. This is what I do. No one in the industry is like me. Let me ensure one of life’s most significant financial commitments is tailored to your needs, competitively priced, and seamlessly managed. 

Structuring Deals for Optimal Benefits
  • Leveraging Equity: I can advise on how to leverage equity from existing properties to finance new investments.
  • Creative Financing Solutions: I offer creative financing solutions for larger or more complex investments
Assistance with Complex Transactions
  • Navigating Regulations and Requirements: Commercial and investment real estate transactions can be complex, with more stringent regulations and requirements. Let me help you navigate these complexities.
  • Coordination with Other Professionals: I coordinate with other professionals involved in the transaction, such as real estate agents, lawyers, and accountants.
Access to a Wide Range of Lenders
  • Diverse Lending Options: I have access to a wide, diverse range of lenders, including banks, credit unions, MICs, and private lenders, who offer products specifically designed for real estate investors and commercial properties.
  • Competitive Rates and Terms: I shop the market to find competitive interest rates and favorable terms that suit the specific needs of residential, investment, or commercial properties.
Self Employed Challenges

Self-employed individuals often face unique challenges when securing a mortgage, primarily due to the nature of their income documentation and verification. My understanding of self-employed financials enables me to specialize in helping self-employed people access a broad range of lenders, customize solutions and provide guidance and support.

Advocacy and Representation
  • Personal Advocate: I act as your advocate, with a duty of care to represent your interests to lenders.
  • Better Negotiation: My expertise and relationships with lenders can lead to better negotiation on rates and terms than an individual might achieve alone.

Still Have Questions?