Navigating Down Payment Options with Trusted Regina Mortgage Broker Ryan Boughen

5. Mar 2024 Trusted Regina Regina Mortgages, TRUSTED TIPS

The land of mortgages is big, and Ryan Boughen, a multi-award-winning Regina Mortgage broker with TMG The Mortgage Group, understands how confusing it can be with new rules, rates and information appearing regularly in the market. There are also dozens of lenders with thousands of mortgage products available. Ryan Boughen is a Trusted Regina Mortgage Broker, and in his latest mortgage tip, he shares down payment options and how much money you need to buy a house.

Unlocking Homeownership: Navigating Down Payment Options with Trusted Regina Mortgage Broker Ryan Boughen

You’re not alone if you’ve ever dreamt of owning a home. However, the path to homeownership often begins with the question: How much money do I need for a down payment in Regina?

Fear not, for we have Ryan Boughen, a trusted mortgage broker from TMG The Mortgage Group, to guide you through the ins and outs of Canadian down payment options and demystify the process of acquiring your dream home in Saskatchewan.

Before we delve into down payment options, let's take a moment to appreciate the Regina area’s unique real estate landscape. With its city life, lake communities, thriving bedroom communities, acreages and lots of diverse housing options, this area of the province offers a range of opportunities for prospective homeowners. Whether you're eyeing moving full-time to the lake and commuting to work from Regina Beach, or it’s time to look for a spacious family home in the city. The key to unlocking these dreams lies in understanding your down payment.

Canadian Down Payment Basics:

The minimum down payment in Canada to purchase a home depends on the property's purchase price. While the nationwide standard is 5%, I want to emphasize the importance of considering your financial situation and long-term goals. A higher down payment reduces your mortgage amount and can lead to lower monthly payments and interest costs.

Down Payment Programs:

The journey to homeownership becomes even more exciting with the availability of down payment assistance programs. As your dedicated TMG Regina mortgage broker, my team and I will walk you through various programs designed to make your dream home more attainable. From the First Home Savings Account (FHSA) to the Home Buyers' Plan (HBP) for RRSP withdrawals, these programs offer financial incentives and flexibility, ensuring that you can make a confident investment in your future.

Gifts:

Gifts are allowed from immediate family members (parents, grandparents, children), as well as non-purchasing spouses.

Flex Down (borrowed down payment):

Borrowers with a strong credit history and access to credit or a loan from a friend or family member may use borrowed funds for their down payment. The buyer must be able to afford the extra payments from the loan.

Customized Solutions for Every Homebuyer:

As a seasoned mortgage broker, I understand that each homebuyer is unique, and there is no one-size-fits-all solution. I take a personalized approach to mortgage brokering, tailoring my guidance to your specific needs and financial circumstances. Whether you're a first-time homebuyer or considering an upgrade, my team’s commitment to excellence ensures a smooth and enjoyable journey to homeownership.

Embarking on the path to homeownership in Saskatchewan is an exciting adventure, and with Ryan Boughen by your side, it becomes a seamless and rewarding experience. As you explore the various down payment options and navigate the intricacies of Saskatchewan's housing market, remember that your dream home is within reach.

Trust in Ryan Boughen, and let the journey to your new home begin!

Ryan and his team of Regina mortgage experts will determine your specific needs and then review and analyze the best mortgage option for you.

Mortgage Options Offered Include:

Get Approved On Ryan's Website Today - It Costs Nothing!

Check Out More of Ryan's Reviews Here

Your Best Regina Mortgage Broker

Ryan Boughen Is A Trusted Regina Mortgage Broker

Trusted Regina Mortgage Broker Ryan Boughen's Mortgage Renewal Tips!

8. Jul 2022 Ashlyn Regina Mortgages, TRUSTED TIPS

The land of mortgages is big, and Ryan Boughen, a multi-award-winning Regina Mortgage broker with TMG The Mortgage Group, understands how confusing it can be with new rules, rates and information appearing regularly in the market. There are also dozens of lenders with thousands of mortgage products available. Ryan Boughen is a Trusted Regina Mortgage Broker, and in his latest mortgage tip, he touches on the subject of mortgage renewal.

Your mortgage is probably the single most considerable expense. Unfortunately, most people give it little thought. Here are the most expensive mistakes you must avoid when you renew your next mortgage.

✅ Don't take the first offer - Most times, the first offer you receive from a bank or lender is never their best. Don't be afraid to shop around.

✅ Refinancing - Many mortgage brokers and lenders will bring up the opportunity to refinance your debt or take out equity from your home at the time of mortgage renewal. For more than 99% of us, this is a bad idea. The lure of “cheap money” is strong – whether to pay off debts or use the money for a home reno – going into more debt when you renew your mortgage will cost you in the long run.

✅ Paying off Debt Responsibly - If you have car loans, lines of credit, a balance on your credit card, or other personal debts, you should never pay more than the minimum on your mortgage. Paying off these debts, saving for your child’s education and putting away 15% of your gross income into retirement ALWAYS takes priority over paying off your house.

✅ Have A Master Plan for your Finances - If you fail to plan, plan to fail. Ideally, you should have a monthly, yearly and 5-year plan for your overall finances. Anything from planning your monthly expenses, such as budgeting housing, automotive, and general expenses, to the amount you want to see in your RRSPs and retirement fund.

Ryan and his team of Regina mortgage experts will determine your specific needs and then review and analyze the best mortgage option for you.

Mortgage Options Offered Include:

Get Approved On Ryan's Website Today - It Costs Nothing!

Check Out More of Ryan's Reviews Here

Your Best Regina Mortgage Broker

Ryan Boughen Is A Trusted Regina Mortgage Broker

Trusted Regina Shares 6 New Year’s Resolutions for Every Homeowner

19. Jan 2022 Trusted Regina

6 New Year’s Resolutions for Every Homeowner

Lately we have been spending much more time in our homes than usual. With homes and finances at the forefront of many household conversations, here is a list of 6 things you can do to improve both your home and your finances.

Pay Off Your Non-Mortgage Debt FIRST!

The general rule of thumb is that you should focus on paying off higher-interest debt before lower-interest debt. You may be paying a higher rate on a credit card or private student loan than on your mortgage, so you'd benefit more by paying those off early.

Don't pay so much toward the higher-interest debt that you risk defaulting on mortgage payments. Yes, credit cards can be expensive, and the issuer may take legal action if you default on card payments. But defaulting on mortgage payments can be an even bigger risk because you could lose your home.

Build A Realistic Emergency Fund

Owning a home comes with many responsibilities and expenses, some that you can plan for in advance, like property taxes, and some that just pop up unexpectedly. If you haven’t already started saving for those unexpected expenses in an emergency fund or rainy-day fund, the new year is a great time to start! Saving any amount is beneficial in an emergency, but about 3 to 6-month’s salary is usually recommended. A high-interest savings account is a good place for your emergency fund. You’ll still be able to earn interest on your savings, and it’s not entirely locked away in case you need to access the funds quickly.

For some people, work-from-home measures may be in place indefinitely. The lines between your personal and professional life may be blurred during this time. The best way to keep firm boundaries is by trying to maintain a similar routine to when you’re in the office. Ensure you set boundaries to limit overtime work, always take breaks throughout the day, and log off your work computer at the usual end of the workday.

Make Your Home As Energy Efficient As Possible

We live in Saskatchewan, so there's no avoiding heating and cooling costs, and they will only rise as time goes on. Whatever you can do to make your property more energy-efficient is a worthwhile investment! It also makes it more attractive when you decide to sell.

For tech-savvy homeowners, making your home more energy-efficient with smart thermostats or programmable LED lights can be fun! Even if technology isn’t your thing, minor fixes around the house can help make your home more energy-efficient and save you money. Here are a few things to add to your list:

Seal all air leaks around windows and doors
Use cold water or energy-saving settings for washing machines and dishwashers
Unplug devices and appliances when not in use
Lower your thermostat while you’re away from home or in less-used areas of your home
Install a low-flow showerhead
Opt for energy-efficient window treatments like honeycomb shades

Make Your Home A Space You Love

Starting off the new year ( or a new week! ) in a clean, organized space is a huge mood booster. With many people working from home now, organized space can also help your productivity. While there’s no right or wrong way to declutter and organize your home, one useful method is to work by room to make the task more manageable. Look at everything you have and split the items into three piles: Keep, Donate, and Toss. Perhaps you could read Marie Kondo's book The Life Changing Method of Tidying Up, she is a Japanese professional organizer with a simple method to declutter your life, from clothes to books to knickknacks. She wants you to answer just one simple question when it comes to any of the items in your house:

Does it bring you joy?

If you answer yes, you keep the item. If you hesitate or say no, you donate it or throw it out. It’s simple, it’s brilliant, and it’s completely intuitive.

Once you’ve decided what’s staying, you can make sure everything has a designated place to keep things tidy in the long run.

Start A Household Maintenance Checklist

As with most New Year’s resolutions, it’s easy to start the year off strong, but as time goes on, it may become more challenging. Set yourself up for success and stick to your home goals by creating a household maintenance checklist. Create a recurring calendar reminder so you never forget to handle tasks around the house. For example, set a reminder to change your HVAC filter every three months or clean your eavestroughs twice a year. Proper home maintenance is a good way to prevent having to pay for home repairs over time.

Plan To Pay Off Your Mortgage Sooner

Depending on how much you still owe on your mortgage, paying it off may be daunting but don’t be discouraged. Even small steps now can help you become mortgage-free sooner. Start by increasing your regular payments. For example, instead of purchasing a takeout dinner, put that extra $50 towards your monthly mortgage payment. Keep that up for a year, and you’ve already put an additional $600 towards your mortgage and, over five years, an additional $3,000.

Another simple way to pay your mortgage off faster is to put any additional or unexpected income towards your mortgage. That can be anything like funds from a tax return, a bonus from work or inheritance. Before you make any pre-payments, double-check your mortgage pre-payment options with your mortgage lender so you don’t exceed your allowable limits.

Trusted Regina team brags about Skott Enns as a Trusted Regina Mortgage Broker

27. Dec 2021 Trusted Regina Regina Mortgages, Trusted Partner News, Trusted Regina new Trusted partner

The Trusted Regina team is thrilled to brag about our newest Trusted Regina Mortgage Broker. We are thrilled to welcome Skott Enns back to the Trusted Regina Community of business operated with integrity.

Why does Skott Enns get the thumbs Up from Trusted Regina?

Skott Enns has been a Regina mortgage broker since 2017, and he was voted Regina's Best Mortgage Broker for 2021! That is 8 out of the past 9 years that Skott has been the recipient. If you are looking for free expert mortgage advice from a multi-award-winning, Trusted Best Regina mortgage broker, whose number one motivation is always your BEST interest then you should definitely consider Skott Enns!

Skott is committed to providing the best service for his clients, and he has put together a team to make the mortgage process as efficient and easy as possible. He is authentic in his desire to help people, and as such, he works hard to ensure he has the best mortgage type and rates for each situation and every unique circumstance.

So a bit about me! Growing up, I was never one of the jocks. Oh I played, soccer, hockey, and ball just like all the kids, but I was never really that good. Usually one of the last picked on the team… clearly it wasn’t my destiny to be a professional athlete.Instead, I loved puzzles, seriously, I was a pretty big nerd… my head was always buried in a crossword, brain teaser, mind bender, word search, or sudoku. As a Regina mortgage professional, nothing has really changed. I see every new clients’ mortgage as a puzzle that needs to be solved. Let me assure you, I do not rest until the solving is done! Specifically, some of the puzzles I enjoy working on now are clients who are new immigrants to Canada seeking their first mortgage, self-employed, recently separated, or buying their first home and… First Time Home Buyers are a personal favourite – I like first timers even more than Sudokus! As each client is different, handling financing for investment properties, purchase plus improvements, mortgage refinancing and mortgage renewals provides a unique challenge.
On a personal note, I am a proud husband and father. My wife Shawna and I have twin boys and a daughter, and we are a VERY active family. We travel, play outside, get dirty in the mud, and love to see and experience new things! Life is pretty good!- Skott Enns.

When speaking to Skotts clients, including other Trusted Regina partners, as part of our unique Trusted verification process it is easy to see why so many of them voted for him to be Regina's best mortgage broker year after year.

" I send people to Skott all the time knowing they'll have a great experience and that he'll look after them. Skott is truly knowledgeable, good at what he does and treats people the way they should be treated." - Chris Worby, Owner of Worby Wealth Management - Trusted Regina Financial Advisor

" Skott is a kind, conscientious, and ethical professional. He goes the extra mile. We had a very complex mortgage file and he worked with us to get the best possible arrangement under very tight timelines. I highly recommend him." - Valerie Sluth, Regina .

SO, whatever your situation and needs are he will bring you options that have been evaluated and suggest only the ones that best suit your needs.

Click here to read Skott's 300+ Google Reviews and 125+ Facebook Reviews

A Regina Mortage Broker with A High Interest In Your Low Interest