Balance Risk, Return, and Rental Properties
When we originally met Stuart and Evelyn, they were looking for help to buy their first home, which included a suite they could rent as a mortgage helper. They had managed to save quite a large down payment, and so only needed a low loan-to-value mortgage to complete their purchase. Stuart and Evelyn were happy when we secured them a 5-year variable mortgage that offered an amazing starting rate. As with all of our variable mortgage clients, we promised to stay in touch if the prime interest rate rose at a faster pace than fixed mortgage rates.
With their responsible approach to their finances combined with some tolerance for taking a reasonable risk with their investment, it shouldn’t have come as any surprise when Evelyn and Stuart contacted us only 2 years in to their mortgage term. They had found a recreational property they loved, but needed to move quickly if they wanted to buy it.
The value of Evelyn and Stuart’s home had increased significantly thanks to their work in improving it. Our team was able to help them take equity out of their home in order to purchase the seasonal cabin that would become their rural getaway. We put a rush on their file and managed to get the mortgage refinance done in only 2 weeks!
Since Stuart and Evelyn had also chosen a variable mortgage for their refinance, our team was continuing to watch interest rates for them. A few months ago, we saw an opportunity for Stuart and Evelyn to save a significant amount in interest payments. We reached out to them with the details and completed a simple transfer of their mortgage to the lender with the best variable rate.
In a few short years, Evelyn and Stuart have become the owners of multiple properties – and have even managed to take advantage of opportunities to save money along the way!
Does this situation sound familiar? You can
to have the Auxilium Team working with you. Do you know someone who could benefit from the same great service?
and we'll see how we can work with them.
