Mortgage News - April 2011
Let me help you budget and plan for your home renovation project. I can help to make it easy and affordable by presenting you with some creative financing options. CMHC has brought out new flexible policies that will allow you to unlock the equity in your home for almost any purpose. You can now use up to
85% OF THE EQUITY IN YOUR HOME FOR HOME IMPROVEMENTS, DEBT CONSOLIDATION, OR BUYING A NEW CAR.
If you need additional funds for any reason, home improvements, vacation, debt consolidation, education or wedding expenses, this may be the answer you were waiting for.
To discuss your individul needs, please call me anytime at 604-501-7700
Recognizing the Value of Renovations
There are many reasons to renovate. You may wish to add beauty to your home, or you may simply wish to cut expenses. Over time, the money you save on heat, light and water by making your home more energy efficient may actually pay for your upgrades. According to Canada Mortgage and Housing Corporation, here's on average what you can expect from the money you invest:
Renovation
Kitchen
Bathroom
Painting
Main floor familyroom
inished basement
Upgrading heating
Landscaping
Energy efficient upgrades
Payback
67-73%
64-71%
62-66%
49-56%
50-52%
48-50%
45-49%
33-39%
Of course, pay back also includes your personal satisfaction.
Only you can place a value on that!!
35 and 40
year amortization still available for owner occupied & rental properities for
#1. PURCHASE
#2. REFINANCE
#3. RENEWALS
If your mortgage amount is 80% or less than the value of the property, you qualify!
10 Ways to Save Money - click here
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