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Lic # 10530
Languages: English, Cantonese
Specialties: New Canadian, Rental Property / Investment, First-Time Home Buyer, Alternative LendingApply Now
Cathy is known for her dedication to helping others. Whether in her personal or professional life, she has always gone above and beyond her role. Having graduated from York University with a Bachelor's degree in Psychology, she understands the importance of human connection and social interaction. Cathy has over 30 years of experience working in the service industry thus gaining her exceptional client service skill and the ability to resolve complex tasks in a timely manner.
In her free time, Cathy enjoys spending time with her family. She also volunteers at various events with the Canadian Council of the Blinds as a sighted guide and Elder Help Peel. She loves her morning yoga routine and finds exercise is a great way to improve mental health.
If you are looking for a mortgage professional who will dedicate her time and commitment to your mortgage needs, please reach out to Cathy.
4 reasons why it's smart to use Mortgage AllianceCheck it out
With the ever-changing market and a stricter stress test, many Canadians are finding it harder to qualify for a mortgage through traditional financial institutions “A-Lenders” and are turning to alternative lending solutions for their mortgage. At Mortgage Alliance we work with many alternative lenders, who can offer excellent mortgage options with more flexible criteria and more lenient qualification requirements.
Alternative lenders are great for individuals who have non-traditional forms of income for example, capital gains, room rental income, child tax benefits and others or for self employed applicants who may not have the minimum required number of years being self employed.
These lending solutions are also a good option for those with lower credit scores. While the rate they offer is slightly higher than what you will see posted by an A-Lender, they are nothing out of the ordinary when compared to traditional rates posted in Canada. They also generally have shorter terms, meaning that you can get into the home of your dreams while being able to rebuild your credit at the same time.
Buyers who don’t qualify under the mortgage stress test can also take advantage of the expanded debt service ratios allowed by alternative lenders to qualify for a mortgage and get into the home of their dreams. If you have a very unique situation, we also have access to various private lenders who are even more flexible and lenient in requirements and may be able to offer you mortgage options that fit your situation. In today’s environment, we’re seeing more private lenders helping Canadians with their mortgages.
Call your Mortgage Alliance professional to find out about the different options available to you. They are experts when it comes to mortgage products and different solutions and will provide you with unbiased advice. They work for you, not the lender.
Are you considering buying a multiplex property in the near future to enter the rental market? While this type of investment is a great way to diversify your income and put money aside, it is important to be well prepared. Buying income-producing real estate is more than an investment, it also means starting a business. But where should you begin? Before you get started, it is important to quantify and analyze the financial implications to ensure that your project is viable and profitable. The return on investment is calculated by subtracting the operating expenses from your income. This amount is then divided by the down payment on the building. The percentage obtained represents the annual return, which should ideally be higher than the mortgage rate.
Another aspect to consider is your ability to manage risk. Rental real estate does not guarantee constant profits, so it is important to assess your tolerance for risk and financial uncertainty.
The financial aspect is not the only aspect to consider. When entering the rental real estate market, you have to manage tenants and take care of the building maintenance. It is therefore important to be familiar with tenants’ rights in Québec and to have an interest for manual work. This will greatly help!
The down payment required for your project will depend on the number of units in your plex and whether you want to live in the building. Usually, you need a down payment equal to 20% of the property value. However, if you intend to live in one of the two apartments of a duplex, the required down payment is 5% and that will increase to 10% in the case of properties with 3 or 4 units.
Mortgage Alliance brokers are there to help you make the right decisions. They can give you advise and guide you through the investment process. Contact us today to start making your project a reality.
Today's Mortgage Alliance Exclusive Rates
As of February 09, 2023
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