Merci encore une fois pour ton aide,

Johanne

We could not have had a better team working for us!

Suzanne and Cheryl work together and they are true professionals. The two of them went above and beyond the call of duty to ensure that I had as easy a time as possible selling my mother’s condo. They kept in touch (almost every day) to ensure I was comfortable with where we were in the process. In fact, it’s after 7:00 p.m. now and Suzanne just called to update me on the status of the sale.

My mother’s condo was a messy situation (literally) and they handled everything. That included reporting on the condition of the condo after it was supposedly cleared by an auction company, checking back to see if the auction company had finally done its job, arranging for carpet and paint quotes, overseeing the painting and carpeting (on a long weekend)…the list goes on and on. To top if off, after all the work was done everyone denied taking off the baseboard heater covers, so Suzanne and Cheryl went back over to the unit and reattached them for me!

Do they want to do this for every sale? Of course not, but they knew being so far away that I needed the help and they volunteered their expertise. How kind is that!!!! They genuinely cared and that’s the type of realtor I think everyone wants.

We had an offer from the first people thru the unit. We turned it down and sold it for just above list price to the next people, clients of Suzanne’s.

I can’t thank Suzanne and Cheryl enough for helping me thru this difficult time. I would highly recommend their services. I plan to tell everyone I know in the Ottawa area of the quality service they provide.

Cass Dagg-Murphy

Your support, your unprecedented experience, diligence and personal services made the real estate sale an incomparable experience. I have sold many homes with many good real estate agents although you have made a real difference.

I sincerely know why you are both so successful: it is because you really care. You are both amazing!!

From heart I am thankful to you both.

Maureen

While the lending industry’s benchmark amortization period is 25 years, and this is the standard that is used by lenders when discussing mortgage offers, and usually the basis for mortgage calculators and payment tables, shorter or longer timeframes are available – to a maximum of 35 years.

The main reason to opt for a shorter amortization period is that you will become mortgage-free sooner. And since you’re agreeing to pay off your mortgage in a shorter period of time, the interest you pay over the life of the mortgage is, therefore, greatly reduced.

A shorter amortization also affords you the luxury of building up equity in your home sooner. Equity is the difference between any outstanding mortgage on your home and its market value.

While it pays to opt for a shorter amortization period, other considerations must be made before selecting your amortization. Because you’re reducing the actual number of mortgage payments you make to pay off your mortgage, your regular payments will be higher. So if your income is irregular because you’re paid commission or if you’re buying a home for the first time and will be carrying a large mortgage, a shorter amortization period that increases your regular payment amount and ties up your cash flow may not be the best option for you.

Your mortgage professional will be able to help you choose the amortization that best suits your unique requirements and ensures you have adequate cash flow. If you can comfortably afford the higher payments, are looking to save money on your mortgage or maybe you just don’t like the idea of carrying debt over a long period of time, you can discuss opting for a shorter amortization
period.

Advantages of longer amortization

Choosing a longer amortization period also has its advantages. For instance, it can get you into your dream home sooner than if you choose a shorter period. When you apply for a mortgage, lenders calculate the maximum regular payment you can afford. They then use this figure to
determine the maximum mortgage amount they are willing to lend to you.

While a shorter amortization period results in higher regular payments, a longer amortization period reduces the amount of your regular principal and interest payment by spreading your payments out over a longer timeframe. As a result, you could qualify for a higher mortgage
amount than you originally anticipated. Or you could qualify for your mortgage sooner than you had planned. Either way, you end up in your dream home sooner than you thought possible.

Again, this option is not for everyone. While a longer amortization period will appeal to many people because the regular mortgage payments can be comparable or even lower than paying rent, it does mean that you will pay more interest over the life of your mortgage.

Still, regardless of which amortization period you select when you originally apply for your mortgage, you do not have to stick with that period throughout the life of your mortgage. You can always choose to shorten your amortization and save on interest costs by making extra
payments when you can or an annual lump-sum principal pre-payment. If making pre-payments (in the form of extra, larger or lump-sum payments) is an option you’d like to have, your mortgage professional can ensure the mortgage you end up with will not penalize you for making these types of payments.

It also makes good financial sense for you to re-evaluate your amortization strategy every time your mortgage comes up for renewal (at the end of each term of your mortgage, whether this is three, five, 10 years, etcetera). That way, as you advance in your career and earn a larger salary and/or commission or bonus, you can choose an accelerated payment option (making larger or more frequent payments) or simply increase the frequency of your regular payments (ie, paying your mortgage every week or two weeks as opposed to once per month). Both of these features will take years off your amortization period and save you a considerable amount of money on
interest throughout the life of your mortgage.

About the author

Gemma Riley-Laurin
Mortgage Agent
Licence # M08005023
Dominion Lending Centres Integrity Financing
Licence # 10933

Tel: 613-290-0196
Office Tel: 613-845-0786
Toll Free Fax: 1-888-241-2980
Web: www.thelaurinteam.com

This type of product will only seem ideal for you if you have no plans to take advantage of
benefits that will help you pay off your mortgage faster – such as pre-payment privileges
including lump-sum payments.

Essentially, this product is only ideal for: first-time homebuyers who want fixed payments
and have limited opportunities to make lump-sum payments during the first five years of their
mortgage; and property investors who need a low fixed rate and are not concerned with making
lump-sum payments.

No-Frills products also won’t let you take your mortgage with you if you purchase another
property before your mortgage term is up – ie, portability is not an option with this product.
Portability is an important option that could save you money over the long term if the home of
your dreams is within your reach before your mortgage term is up and rates have risen, which
they have a tendency to do over a five-year period.

It’s understanding why these products may seem appealing. After all, during tougher economic
times who has the extra cash to put down a huge lump-sum payment? And who needs a portable
mortgage if they’re not planning on moving until the market picks up? But it’s important to
remember that a lot can change over the course of five years – or whatever term you choose for
your mortgage.

The thing is, you can still obtain great mortgage savings without giving up the perks of
traditional mortgages. For starters, many lenders are willing to offer significant discounts if you
opt for a 30-day “quick” close.

There are, however, other ways in which to earn your own discounts. For instance, by switching
to weekly or bi-weekly mortgage payments, and by obtaining a variable-rate mortgage but
increasing your payments to match those of the going five-year fixed rate, you’ll be ahead of the
typical 0.1% discount of a No-Frills product within approximately three years.

No-Frills products represent a great example of why interest rates are not the only important
factor to consider when deciding whether to opt for a particular mortgage product. Much like
buying a car, you get what you pay for. If you don’t want a car with air conditioning, a stereo, a
cup holder, and so on, then you can get the cheapest car going… but you’ll likely regret it later.

About the Author

Gemma Riley-Laurin
Mortgage Agent
Licence # M08005023
Dominion Lending Centres Integrity Financing
Licence # 10933

Tel: 613-290-0196
Office Tel: 613-845-0786
Toll Free Fax: 1-888-241-2980
Web: www.thelaurinteam.com

She impressed us immediately with her energy and enthusiasm. Suzanne has such a positive outlook and gives you the kind of confidence that comes with years of success and experience. We benefitted from Suzanne’s stellar reputation and sage guidance.

Suzanne helped us sell our home in no time, and was instrumental (and patient) in helping us find our perfect new home. The whole experience of selling and buying a home with Suzanne has been wonderful. She made what could have been very stressful out to be enjoyable!

All the best and continued success!

Ok & Andre

We liked your professionalism, accuracy and prompt response.

At our first meeting you explained very well the whole process. You made the experience very simple and hassle free for us. We will gladly recommend your services to friends and family members.

Wafik and Basma

Spring is coming and now is the time to start planning, and the City of Ottawa website has some great information on what you need to know before you get started. The links below will give you information about how to prepare for and apply for a building permit for small residential projects such as, sun decks, additions, basement renovations, and accessory buildings (sheds, garages).

Here are the links to their Homeowner’s Guide For Small Projects

• Plan your project
• Determine what other approvals may be required
• Estimate the applicable fees for your project
• Explain what drawings are required, including plans, specifications a site plan, a cross section and roof details.
• Homeowners’ Residential Checklists for constructing an Addition, Accessory Building, Finished Basement and a Sundeck
• Understand how your projects are reviewed and processed
• Submit an application
• Request the required inspections
• Understand the Occupancy Permit
• Know about other required Inspections

How much is your home worth?

David Onyett-Jeffries, an economist at Royal Bank of Canada, wrote in a note to clients.

“Housing market activity is expected to display greater stability going forward as the confluence of factors, such as the more stringent mortgage regulations and rising interest rates, generate more balanced housing market conditions throughout this year that will leave little room for any further significant increases being sustained in 2011.”

If you have been thinking about making a move, now is a great time to sell. With fewer houses on the market and prices continuing to rise, it you will be sure to get the best price for your home.

How much is your home worth?