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Spencer Grey
Mortgage Agent Level 1
Lic # 10428
Work
(519) 250-4848Cell
(226) 348-2349Languages: English
Specialties: Residential Mortgages, Rental Property / Investment, First-Time Home Buyer
Apply NowAbout Me
Many find mortgage financing confusing, but it doesn't have to be that way. My knowledge and experience, combined with friendly and attentive service, will give you the information and education you need to make an informed decision.
When it comes to mortgages, choice is everything! With my access to over 50 lenders like major banks, national, regional, and private lenders, you can be sure you are getting the best rate and mortgage for your situation.
You have come to the right place for your purchase, refinance or renewal. I have many specialties including self-employed mortgages, new to Canada, property investing, vacation homes, renovations, retirement cash flow, and credit repair.
I'll be with you every step of the way, even after your mortgage closes, providing tips and strategies to help you build long-term wealth. That's why my business is built primarily from client referrals. I look forward to earning your trust, and delivering a comfortable and successful mortgage experience!
7 reasons to use a Mortgage Broker over your Bank
Check it outRental
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 Intelligence 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 Exclusive Mortgage Intelligence Rates
As of June 01, 2023
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* Insured mortgage rates, subject to change. Conventional and refinance rates may be higher. OAC. E&OE
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