The Fundamentals of Construction Financing

The Fundamentals of Construction Financing: A Guide For Non-Profits and Developers

Construction financing is a bit of a catch-22. It can seem unapproachable and inaccessible, especially if you’re new to the game. Developers and non-profits might not have the same access to lenders or investors as larger organizations do, but that doesn’t mean they should be discouraged from pursuing construction financing further. With the right advice and resources, you can learn more about this type of funding and how it can work for your organization. If you are currently working on an upcoming construction project or have plans to in the near future, it is important to understand how construction financing works. Construction financing comes in many forms, which makes it important for potential developers and non-profits to understand exactly what their options are before moving forward with any one particular plan. Read on to discover more about construction financing and which program will work best for your organization moving forward.

What is Construction Financing?

Construction financing is a type of funding that provides organizations with the money they need to start construction. Unlike regular lending options, construction financing is not meant to be repaid through interest but rather through the profits generated by the business or project on the site once it is completed. The construction period is the most critical time for developers, as they need to have the necessary funds to get the project up and running as quickly as possible. Construction financing is most often used to fund the construction of new buildings or renovations of existing structures. This type of funding is important for both developers and non-profits, as it gives them the capital they need to make sure the project moves forward and does so in an efficient way. Construction financing is time-sensitive and must be completed as quickly as possible.

Why Is Construction Financing Important?

The construction period is the most critical time for developers, as they need to have the necessary funds to get the project up and running as quickly as possible. Without construction financing, it can be difficult to obtain the funds needed to get a project off the ground. For non-profits, this financing can help make a construction project move forward that may have otherwise been indefinite. If construction financing is received, then the project can be completed and that money can be used to further the mission of the organization.

Loans and Grants for Developers

If you are a non-profit organization, you may be able to obtain a grant to fund construction. However, if you are a developer, you will likely need to obtain a loan to make the construction project happen. With loans, there can be several different types and options to choose from, which makes it important to do your research on the best option for your organization. Construction loans are common for development and are provided by financial institutions. There are also other options, such as bonds, that can be used as a form of construction financing. This is a type of loan with a larger amount that is issued by multiple people. Because this loan is from a larger group of individuals, it can be easier to obtain than a loan from a single financial institution.

Equity Investments for Developers

An equity investment is when an investor gives money to the developer in exchange for a percentage of the profits that will be made once the project is complete and operational. Equity investments can be beneficial for developers, especially those who may need a bit more money than they can obtain through more traditional construction financing options. Equity investments are common in the commercial real estate industry, but they can also be used to fund smaller construction projects. If you are a developer, it can be helpful to find an investor that wants to get involved in a construction project. It is important to get the word out about your project and who you are looking for. It can be helpful to work with a financial advisor who can help you to develop a pitch for investors and find the right people to approach.

Bottom Line

When searching for construction financing, it is important to understand what your options are. It can be helpful to get in touch with financial institutions to see what types of loans they offer and what they require in order to obtain one. It can also be helpful to talk with other developers and get their advice on the best way to approach construction financing. If you are a developer, it can be helpful to get the word out about your project as soon as possible so that you can start receiving interest from potential investors.

We here at Capital Mortgages in Ottawa look forward to assisting you with all your Ottawa mortgage refinancing needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

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5 Ways to Increase Your Property Value

5 Ways to Increase Your Property Value

When you buy a home, one of your primary goals is to make equity in that property and sell it for more than you bought it for someday. However, not everyone who buys a home does so with that intention from the start. In some cases, people buy homes because they need a place to live now and cannot wait to upgrade or resell at a later point. In other words, some people buy houses as an investment rather than a place to call home until they can afford something better. Some properties are worth more than others because they have certain amenities or are in a prime location. You may think you’re getting a good deal on your property right now, but if you plan on selling in the future, there may be things you can do right now to increase its value.

Know the local market

When you buy a home, it’s important to understand the local market. This will help you determine how much a comparable property in your area is worth. It will also help you to determine how much you should pay for a property. The amount of equity you’re able to build in your home is directly related to the amount others will be willing to pay for it. If you want to sell your home in the future, you need to know the current market value of your property. This will help you to determine what price you should list your home at so that you don’t end up with a lot more house than you can sell.

Keep your home in great condition

If you want to increase your property’s value, you need to maintain it in great condition. This means keeping your home clean inside and out. It also means that any small repairs need to be addressed as soon as they’re discovered. If you’re able to keep your home in good shape, potential buyers will be able to see the potential in your home. They’ll be able to imagine themselves living there and will be willing to pay a higher price for it.

Update your kitchen and bathrooms

A kitchen is one of the most important rooms in any home. If you’re updating your kitchen, you have a chance to make your home a lot more valuable. New appliances, new countertops, and new cabinets can make a big difference in the price of your home. If your bathroom is outdated, you can also increase your home’s value with a new bathroom. Replacing old fixtures, adding new tile, and installing new cabinets will make a big difference in the price of your home.

Add fresh landscaping

A fresh landscaping job can make a big difference in the price of your home. If your yard is lacking curb appeal, it’s easy to see how prospective buyers could be turned off. If you can make your home appealing to prospective buyers, they’ll be more likely to pay a higher price for it. A new landscaping job can add curb appeal and make your home more valuable.

Add value with small renovations and repairs

Newer homes are more valuable than older homes. If you have a house that has been on the market for a while, you may want to consider making some minor renovations. If your roof, heating and cooling system, or other major appliances are nearing the end of their lifespan, you may want to replace them with new ones. This may cost you a few thousand dollars, but it will add value to your home and make it more attractive to buyers.

Conclusion

Making improvements to your home can help you increase its value. However, you should make sure that any renovations or repairs you make are high-quality so that they will last for years to come. If you want to sell your home for the highest possible price, you may want to consider hiring a professional real estate agent. They can help you determine the best ways to increase your home’s value and make listing your home easier.

We here at Capital Mortgages in Ottawa look forward to assisting you with all your Ottawa mortgage refinancing needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

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The Benefits of Moving to Ottawa: A City You'll Never Want to Leave Image Source: Unsplash ‍ The capital city of Canada is bustling with activities, sights, and sounds that are sure to take your breath away. It’s also a place where you can pursue your career, make friends for life, and have the time of your life. Have you ever wondered why so many people are moving to Ottawa? Perhaps it’s time for you to pack your bags and join them! The vibrant and energetic city of Ottawa has something for everyone. If you’re considering a move to the capital of Canada, here are some reasons why you should. Read on to find out more about this amazing city and all the reasons why you should be packing your bags and moving to Ottawa today. It’s an Ideal Place to Start Your Career If you’re young professional who is just starting out in their career, then Ottawa is the place for you. It’s one of the best cities in Canada for young professionals who want to find a job and start earning a good salary as soon as possible. In fact, Ottawa is a place where many successful corporations have set up their headquarters. This means that there are lots of job opportunities for young professionals who want to find a job in their field. If you’re a student who is close to graduating, then Ottawa is also the perfect place for you. In fact, Ottawa is the best city to be a student in Canada. Why? Ottawa has a very low cost of living, and the city is extremely affordable. This means that your money will go much further in Ottawa than in other cities. Ottawa is Breathtakingly Beautiful No article on why you should move to Ottawa would be complete without a mention of just how breathtakingly beautiful it is. From the awe-inspiring views of the Parliament Buildings, to the lush green parks, to the stunning architecture of the museums, Ottawa is a stunning place that is sure to take your breath away. If you’re considering a move to the capital city of Canada, you should know that you’ll be able to enjoy the stunning views of the Parliament Buildings any time you like. The Parliament Buildings are open to the public, so you can visit them and enjoy their beauty at any time. There’s no better way to start your day than by admiring the stunning beauty of the Parliament Buildings! Ottawa is Full of Culture and Activities If you’re a culture-loving person who likes to immerse themselves in different cultures and try new activities, then Ottawa is the ideal place for you. Ottawa is home to many museums and cultural attractions that are sure to capture your imagination and excite your curiosity. Whether you’re interested in Canadian art, the Canadian military, or First Nations history, Ottawa has a museum or cultural attraction that is sure to interest you. If museums aren’t really your thing, then you can still enjoy the cultural richness of Ottawa at one of the many festivals that are held in the city every year. There are festivals for almost every interest, hobby, and lifestyle. If you’re someone who likes to try new things, then Ottawa is the place for you. The city is teeming with things to do, from shopping at one of the many malls, to trying out a new restaurant, you’ll never be bored in Ottawa. Ottawa Helps You Stay Active and Healthy If you’re someone who likes to stay fit and healthy, then Ottawa is the place for you. You’ll find plenty of parks, beaches, and places to run, walk, and cycle in Ottawa, which are all great for staying active and healthy. There are plenty of gyms and fitness centers in the city, so you can work out indoors if the weather isn’t great. And, you can find plenty of healthy places to eat and drink, so you can make healthy eating a part of your daily routine. If you’re a sports fan, then you’ll be pleased to know that Ottawa is home to many sports teams, so you can enjoy watching your favorite sports whenever you like. If you’re someone who likes to stay healthy, but you’re not really into team sports, then you can still find plenty of ways to enjoy the benefits of staying active in Ottawa. There Are So Many Restaurants to Try! If you’re someone who likes to try new restaurants, then you’ll be pleased to know that Ottawa has plenty of amazing restaurants to try. Whether you’re into Asian food, or Italian food, or French food, or burgers, or pizza, or tacos, or seafood, or steak, or anything else, you’ll be able to find a restaurant that serves your favorite meal in Ottawa. And, you can enjoy plenty of amazing deals at the many restaurants in Ottawa, so good food doesn’t have to be expensive. If you love trying new restaurants, then you’ll find plenty of delicious dishes to sample in Ottawa. And, you can enjoy plenty of delicious dishes at an affordable price, so eating out in Ottawa is always a great experience. There’s So Much Shopping in Ottawa If you’re someone who likes to shop, then Ottawa is the place for you. The city is teeming with shopping centers, so you’ll never run out of places to shop. You can find shops that sell everything from clothes, to makeup, to health and beauty products, to home decor. In fact, you can even find shops that sell sports equipment, and toys, and books, and you can even find a shop that sells collectible coins. If you like to shop in your own time, then you’ll find plenty of shopping centers in Ottawa that are open every day of the week. And, you can enjoy some shopping centers at any time of the day, so you’ll never have to worry about finding a shop that is open when you want to shop. Conclusion If you’re someone who is looking for a new place to call home, then Ottawa is the place for you. You’ll find so many exciting things to do and places to explore in Ottawa, and you’ll never be bored in this vibrant and exciting city. Whether you’re into culture, or sports, or fashion, or trying new foods, or exploring new places, you’ll find something to enjoy in Ottawa. If you’re considering a move to Ottawa, then make the most of these reasons why you should. Now is the perfect time to start planning your move to Ottawa.

The Benefits of Moving to Ottawa

The Benefits of Moving to Ottawa: A City You’ll Never Want to Leave

The capital city of Canada is bustling with activities, sights, and sounds that are sure to take your breath away. It’s also a place where you can pursue your career, make friends for life, and have the time of your life. Have you ever wondered why so many people are moving to Ottawa? Perhaps it’s time for you to pack your bags and join them! The vibrant and energetic city of Ottawa has something for everyone. If you’re considering a move to the capital of Canada, here are some reasons why you should. Read on to find out more about this amazing city and all the reasons why you should be packing your bags and moving to Ottawa today.

It’s an Ideal Place to Start Your Career

If you’re young professional who is just starting out in their career, then Ottawa is the place for you. It’s one of the best cities in Canada for young professionals who want to find a job and start earning a good salary as soon as possible. In fact, Ottawa is a place where many successful corporations have set up their headquarters. This means that there are lots of job opportunities for young professionals who want to find a job in their field. If you’re a student who is close to graduating, then Ottawa is also the perfect place for you. In fact, Ottawa is the best city to be a student in Canada. Why? Ottawa has a very low cost of living, and the city is extremely affordable. This means that your money will go much further in Ottawa than in other cities.

Ottawa is Breathtakingly Beautiful

No article on why you should move to Ottawa would be complete without a mention of just how breathtakingly beautiful it is. From the awe-inspiring views of the Parliament Buildings, to the lush green parks, to the stunning architecture of the museums, Ottawa is a stunning place that is sure to take your breath away. If you’re considering a move to the capital city of Canada, you should know that you’ll be able to enjoy the stunning views of the Parliament Buildings any time you like. The Parliament Buildings are open to the public, so you can visit them and enjoy their beauty at any time. There’s no better way to start your day than by admiring the stunning beauty of the Parliament Buildings!

Ottawa is Full of Culture and Activities

If you’re a culture-loving person who likes to immerse themselves in different cultures and try new activities, then Ottawa is the ideal place for you. Ottawa is home to many museums and cultural attractions that are sure to capture your imagination and excite your curiosity. Whether you’re interested in Canadian art, the Canadian military, or First Nations history, Ottawa has a museum or cultural attraction that is sure to interest you.

If museums aren’t really your thing, then you can still enjoy the cultural richness of Ottawa at one of the many festivals that are held in the city every year. There are festivals for almost every interest, hobby, and lifestyle. If you’re someone who likes to try new things, then Ottawa is the place for you. The city is teeming with things to do, from shopping at one of the many malls, to trying out a new restaurant, you’ll never be bored in Ottawa.

Ottawa Helps You Stay Active and Healthy

If you’re someone who likes to stay fit and healthy, then Ottawa is the place for you. You’ll find plenty of parks, beaches, and places to run, walk, and cycle in Ottawa, which are all great for staying active and healthy. There are plenty of gyms and fitness centers in the city, so you can work out indoors if the weather isn’t great. And, you can find plenty of healthy places to eat and drink, so you can make healthy eating a part of your daily routine. If you’re a sports fan, then you’ll be pleased to know that Ottawa is home to many sports teams, so you can enjoy watching your favorite sports whenever you like. If you’re someone who likes to stay healthy, but you’re not really into team sports, then you can still find plenty of ways to enjoy the benefits of staying active in Ottawa.

There Are So Many Restaurants to Try!

If you’re someone who likes to try new restaurants, then you’ll be pleased to know that Ottawa has plenty of amazing restaurants to try. Whether you’re into Asian food, or Italian food, or French food, or burgers, or pizza, or tacos, or seafood, or steak, or anything else, you’ll be able to find a restaurant that serves your favorite meal in Ottawa. And, you can enjoy plenty of amazing deals at the many restaurants in Ottawa, so good food doesn’t have to be expensive. If you love trying new restaurants, then you’ll find plenty of delicious dishes to sample in Ottawa. And, you can enjoy plenty of delicious dishes at an affordable price, so eating out in Ottawa is always a great experience.

There’s So Much Shopping in Ottawa

If you’re someone who likes to shop, then Ottawa is the place for you. The city is teeming with shopping centers, so you’ll never run out of places to shop. You can find shops that sell everything from clothes, to makeup, to health and beauty products, to home decor. In fact, you can even find shops that sell sports equipment, and toys, and books, and you can even find a shop that sells collectible coins. If you like to shop in your own time, then you’ll find plenty of shopping centers in Ottawa that are open every day of the week. And, you can enjoy some shopping centers at any time of the day, so you’ll never have to worry about finding a shop that is open when you want to shop.

Conclusion

If you’re someone who is looking for a new place to call home, then Ottawa is the place for you. You’ll find so many exciting things to do and places to explore in Ottawa, and you’ll never be bored in this vibrant and exciting city. Whether you’re into culture, or sports, or fashion, or trying new foods, or exploring new places, you’ll find something to enjoy in Ottawa. If you’re considering a move to Ottawa, then make the most of these reasons why you should. Now is the perfect time to start planning your move to Ottawa.

We here at Capital Mortgages in Ottawa look forward to assisting you with all your Ottawa mortgage refinancing needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

A Guide to Ottawa Tourism: Where to Stay and What to Do Capital Mortgages

A Guide to Ottawa Tourism

A Guide to Ottawa Tourism: Where to Stay and What to Do

Discover the best things to see and do in Ottawa. This guide will give you insider information on planning your trip, where to stay, what to eat and the top sights and activities. If you’ve never been to Ottawa before, it might feel a little daunting, but don’t worry; we’re here to help. From the best hotels to the hidden gems that are often overlooked by tourists, this guide has everything you need to know about visiting this beautiful city. Ottawa tourism is exploding in 2022.

Whether it be for business or pleasure – there’s so many things to see and do in Ottawa! You may not think of Canada when you think of tourism, but after reading this article perhaps that will change. We go through some of the top places to stay and what to do in the wonderful city of Ottawa.

A Guide to Visiting Ottawa

As you can see from our guide, Ottawa is a city where there is something for everyone. Whether you’re travelling with friends, a family or on a romantic getaway, Ottawa has something to suit everyone’s needs. The city has many different areas, each with their own unique vibe. There are also many different types of accommodation in Ottawa to suit every budget. We will go into more detail about where to stay below, but whatever your needs, we’re sure you’ll find something that suits you in Ottawa.

As mentioned, Ottawa is a very beautiful city, and there are many things to see and do. The city’s architecture and the numerous parks are definitely the top things to see and do. Another top thing to do in Ottawa is to visit the museums. They have many museums in the city, which are definitely worth a visit. And lastly, if you’re planning on visiting during the winter, you will be able to experience the world’s largest skating rink. Despite being Canada’s capital city, Ottawa gets much less snow than other cities. However, during the winter season, the Rideau Canal Skateway is transformed into an enormous outdoor skating rink. The rink is 8km long and is the world’s largest outdoor skating rink.

Where to Stay in Ottawa

There are so many great places to stay in Ottawa, but we recommend staying in either the Byward Market neighbourhood or the Downtown area. The Byward Market neighbourhood is home to the city’s central market, and it is an area where you can really get a feel for Ottawa’s culture. The downtown area is where you’ll find most of the city’s major landmarks and attractions. Whether you want to stay in a hostel, a luxury hotel or somewhere in between, Ottawa has something for everyone.

There are also many great Airbnb options in Ottawa. If you’re travelling on a budget, stay near the Ottawa Central Station or downtown area. If you want to stay in a more central location, but don’t want to deal with the noise of being near a train station, there are some great hostels in Ottawa.

What to Do in Ottawa

Parliament Hill- This is a must-see attraction in Ottawa. The Parliament buildings are truly spectacular, and they are open to the public free of charge. There is also a very popular tour of Parliament Hill that goes behind the scenes. You can also see the changing of the guards here.

Rideau Canal Skateway- As mentioned above, the world’s largest skating rink is a must-visit attraction in Ottawa. Located in the city’s beautiful parks, the ice skating rink is open from December to the end of February.

Canadian Museum of Nature- This is the top natural history museum in Ottawa, and it is well worth a visit. There are so many different exhibits and activities for both children and adults to enjoy.

Ottawa Art Gallery- This is one of the top art galleries in Ottawa, and it is home to some beautiful pieces of artwork. If you are interested in art, this is a wonderful place to visit. – Ottawa Zoo- This is one of the top zoos in Ottawa, and it is a fun place for the whole family. There are lots of animals to see and interact with, and the zoo is also home to a water park.

Parks- Ottawa is home to a number of beautiful parks. There are so many things to do in these parks, from hiking to cycling to just sitting and enjoying nature.

Giant Canada Goose- If you are interested in seeing the largest Canada goose in the world, this is a must-see attraction in Ottawa. The Canada Goose is life-sized and made completely out of fibreglass.

Top Activities in Ottawa

Road Trip- One of the top things to do in Ottawa is to take a road trip to other nearby cities. For example, you could drive to Montreal, which is just a couple of hours away. If you don’t have a car, there is a company called Go Bus that offers guided road trips to Montreal, Toronto, and the East Coast.

Visit a Winery- If you are visiting during the wine season (September to October), a top thing to do in Ottawa is to visit a winery. There are a number of wineries in the area, and they make for a wonderful day trip.

Visit the Markets- There are a number of amazing markets in Ottawa, including the Central Market and the Byward Market. The Byward Market is a very popular place to visit in Ottawa, and it is full of interesting shops and markets.

Go on a Day Trip to Quebec City- Quebec City is just a few hours away from Ottawa, and it is definitely worth a visit. You can see so much in one day, and there are many different guided tours to choose from.

Visit a Brewery- There are also some great breweries in Ottawa, and they are a fun thing to do on a night out. There are many different types of breweries to choose from, so everyone should be able to find one they like.

Ottawa Sightseeing

As mentioned, the top three things to see and do in Ottawa are Parliament Hill, the Rideau Canal Skateway and the Canadian Museum of Nature. However, you can also see some other great attractions in Ottawa.

Major’s Hill Park- This is a beautiful park in Ottawa that overlooks the river. The park is a great place to go for a walk and to enjoy the beauty of the city.

Ottawa Botanical Gardens- These are one of Ottawa’s most beautiful gardens, and they are a top attraction in the city. The gardens are the perfect place to go for a quiet walk or to spend a day with friends or family.

Byward Market- This is one of the top things to do in Ottawa, and it is a very interesting place to visit. The market is filled with lots of different shops and markets, making it a great place for souvenir shopping.

Rideau Canal- This is the top place to skate in Ottawa, and it is also a very beautiful sight to see. There are lots of different boat tours that pass through the canal, and it is a great place to go for a walk or jog.

Final Words

As you can see, Ottawa is a very beautiful city, and there are many things to see and do. The city’s architecture and the numerous parks are definitely the top things to see and do. Another top thing to do in Ottawa is to visit the museums. They have many museums in the city, which are definitely worth a visit. And lastly, if you’re planning on visiting during the winter, you will be able to experience the world’s largest skating rink. Despite being Canada’s capital city, Ottawa gets much less snow than other cities. However, during the winter season, the Rideau Canal Skateway is transformed into an enormous outdoor skating rink. The rink is 8km long and is the world’s largest outdoor skating rink.

We here at Capital Mortgages in Ottawa look forward to assisting you with all your Ottawa mortgage refinancing needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

10 Secrets to Explore Parliament Hill in Ottawa

10 Secrets to Explore Parliament Hill in Ottawa

The Hill is a big part of Ottawa. It’s one of the most recognizable landmarks in the city, and it’s been that way for a long time – Parliament Hill has been welcoming visitors for over 150 years! With so much history and beauty waiting to be discovered, you might think that everyone knows about all there is to see here. Arguably one of the most beautiful locations in Canada, Parliament Hill is also a prime example of how culture can flourish when local government supports its residents. However, as with any famous landmark, getting into the House of Commons or Senate chambers isn’t exactly easy. This article contains useful tips on how to visit Parliament Hill in Ottawa while also exploring its hidden gems!

The Basics

Before you set out to explore Parliament Hill, it’s important to take note of a few things. Unlike other popular landmarks, Parliament Hill is a working government building, not a tourist attraction. This means that it closes earlier than most other attractions, and there are strict rules about how and when people can visit. The Hill remains closed to the public from 5:30am to 8am, and from 6pm until 11pm daily. During these times, the only people permitted to be on the Hill are those visiting the House of Commons, Senate, or Library and Archives Canada. On Saturdays, Sundays, and holidays, the Hill remains closed to the public from 8am to 6pm. During these times, the only people permitted to be on the Hill are those visiting the House of Commons, Senate, or Library and Archives Canada. Capital Mortgages can help you with all your mortgage needs.

Timing is Everything

Since the House of Commons and Senate close to the public at 5:30pm, you’ll want to make sure you arrive early enough to see these essential landmarks. You can plan to arrive 10 to 15 minutes before the buildings open (5:30am for the House of Commons and 6:30am for the Senate), as tours often fill quickly. After the buildings close, there are no guided tours of the Chambers, and no one is permitted to view the Chambers. This means that you’ll have a limited amount of time to see the Chambers before you’re asked to leave.

Parliament Hill: The Scenic Route

The most obvious way to visit Parliament Hill is to follow the path that millions of people have taken before you. However, this way of visiting the Hill doesn’t take advantage of its hidden gems. The scenic route is a beautiful way to visit Parliament Hill, but it doesn’t take advantage of the route’s hidden gems. The scenic route starts at the south end of Parliament Hill and circles around the east side of the structure. On this route, you’ll pass the Canadian War Museum, the National Arts Centre, and the outdoor sculptures of the National Gallery. This route is by far the easiest way to visit Parliament Hill, but it doesn’t take advantage of the path’s hidden gems. Ottawa’s Capital Mortgage brokers will help you with all your mortgage needs.

Parliament Hill: The Hidden Paths

If you want to visit Parliament Hill and take advantage of its hidden gems, then you want to take the path that few people take. This route starts at the west side of the building and circles around the north side. It takes you through Confederation Square and past the Canadian Museum of History. Although this route takes longer than the scenic route, it takes advantage of the path’s hidden gems. On this route, you can visit the Tunnels under the Hill. The Tunnels give you an inside look at how daily business is conducted in Ottawa. This route is by far the most interesting way to visit Parliament Hill, but it’s also the most difficult.

Visiting the House of Commons and Senate Chambers

The House of Commons is one of the most iconic sights in Ottawa. Unfortunately, the only way to see inside it is through a guided tour that’s offered daily. To request a tour, you must first call, write, or visit the website. Tours are offered on a first-come, first-served basis, and schedules fill up quickly. To book a tour, you must provide your full name, date of birth, home address (including postal code), telephone number, and email address. If you’re under 18, you must also provide the name, date of birth, home address (including postal code), telephone number, and email address of your parent or guardian.

Ottawa is More than Just Parliament Hill

While Parliament Hill is a beautiful landmark, it’s important to remember that it’s just one part of the city. While you’re in Ottawa, you’ll want to make sure to check out other notable attractions, such as the Byward Market, the Canadian Museum of History, and the Canadian Museum of Nature. The Byward Market is one of the oldest markets in all of Canada, and it’s a great place to explore local cuisine, art, and culture. The Canadian Museum of History is a massive building that traces thousands of years of Canadian history. Lastly, the Canadian Museum of Nature focuses on nature and all its wonders. These are just a few examples of the many attractions that make Ottawa a great place to visit.

Bottom Line

While this article contains useful tips on how to visit Parliament Hill in Ottawa, it also highlights the importance of exploring the hidden gems of this landmark. Although Parliament Hill is a beautiful landmark, it’s important to remember that it’s just one part of the city. If you want to visit Ottawa, then you’ll want to make sure to check out the many attractions that make up this diverse city.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs and approvals. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

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Investment Property Mortgage: Capital Mortgages Ottawa

Investment Property Mortgage

Important Information You Should Know about Investment Property Mortgages

At Capital Mortgages we strive to be your personal mortgage broker for life. By focusing on great solutions, compassionate relationships, and honest ethics, we are proud to experience an ever-increasing number of satisfied clientele. Let Capital Mortgage help you with your investment property mortgage.

What is an Investment Property Mortgage?

Investment property mortgages are loans that are made against the value of a single asset, such as a single or multiple unit property or entire development. This is similar to a traditional purchase or refinancing mortgage, but in this case, the lender takes a stake in the property as collateral.  If you have an investment property, you may be able to acquire an investment property mortgage.  Investment property mortgages are offered by mortgage brokers who focus on Investment Property Mortgages.  Most major financial institutions offer investment property mortgages, and these investments can provide additional returns, liquidity, and lower the cost of the mortgage. Here at Capital Mortgages we can help you get a mortgage for your future investment property.

Important Information You Should Know About Investment Property Mortgages

Please note: This mortgage rate is based on a one-year contract. The rate can change on or after the expiration of the one-year contract, if a rate at which you like the deal better becomes available.  Does this Mortgage Rate Pay Your Property Taxes?  To take advantage of the 30-year interest rate, your mortgage contract requires a sufficient down payment of at least 20% of the sales price. Alternatively, if you wish to pay your property taxes on an installment basis, you should contact your local tax collector.  Capital Mortgage has a reputation for helping people find mortgages that best suit their needs.

Why a Home Equity Line of Credit Isn’t a Good Idea

A HELOC (Home Equity Line of Credit) has many benefits. For instance, it can be used as a last resort, helping you keep the money that you were planning on paying into the bank and avoid paying the bank higher interest rates. As with any borrowing, it’s important that you do your homework and thoroughly investigate whether the HELOC will benefit your situation and will pay off. Some things to consider:  While a HELOC may give you some cash to deal with unexpected financial emergencies or unexpected expenses, the debt has to be paid back before you have any option to borrow from the money.  HELOCs usually have a high interest rate, which is charged every month. This can seriously hurt your finances if you let it go on for too long.

What Is a Home Equity Loan?

What is an equity loan? According to the National Association of Realtors, an equity loan is a loan funded by your house. If you borrowed against your house when you bought it, the bank lent you the money to buy the house and the house was valued at the time of purchase. Because the house was purchased with the loan, the bank gives you the money that you can use to buy other real estate (such as another home or investment property) or to cover operating expenses like property taxes, insurance, etc. If the house’s value has increased since the loan was issued (because, for example, your house is worth more or your family has grown) the bank will give you more money back, so the loan balance will go down.

Homeowners Insurance vs. Renters Insurance

Homeowners insurance typically includes damage to property from fire, natural disasters, theft, and so forth. Renters insurance typically covers loss of property, liability, and medical expenses for people who rent your home. In some states, your landlord will have to provide some sort of renters insurance as well.

In conclusion, we can assist you with your needs moving forward. An investment property mortgage is a type of mortgage that is used by investors to purchase real estate for the purpose of renting it out. Most investors who take on this type of mortgage do so with the intention of making a profit, rather than to live in the property themselves. This means that the investor receives a monthly income from rent and any other taxable benefits or perks connected to ownership, such as tax deductions for depreciation and capital gains. One of the most common reasons that people purchase investment properties is because they believe they can make more money from renting them out, rather than keeping them as their own personal residence.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

Ottawa Mortgage Specialists and Mortgage Experts

Ottawa Mortgage Brokers: Homeownership Made Easy

Our mandate is to offer the best financing products available for all your mortgage needs. We take pride in delivering the best possible solution and fully realize that mortgages today are so much more than just rates.

Why you need a mortgage broker

If you’re looking for a mortgage to make your next move, you may need a mortgage broker. We are here to help you get the best financing options and to know all the different options. A mortgage broker works with a variety of lenders and understands the benefits of having multiple lenders on board. By doing this, we can improve your rates, put you in the best position to get the best mortgage for your needs and do the right thing for you. Since we’ve met so many different clients in our area, we are well-versed in the requirements and needs of the Ottawa and Gatineau areas. We have been able to determine what can and cannot be offered to Ottawa and Gatineau homebuyers.

What does a mortgage broker do?

The day-to-day work of the mortgage broker is mainly to acquire all of the mortgages that our clients need. There are many different types of mortgages that come with different rules and obligations. That’s why we make sure that our clients have all the options at their disposal. So how exactly do we do that? It is actually quite simple, and you are the person that needs to know. The mortgage broker is in the middle of the transaction. We are required to provide an unbiased opinion. Our goal is to provide the best and most reasonable interest rates available in the market. This is the best way to finance your home or get your mortgage sorted out in time. We take pride in the excellent customer service we offer. We specialize in full-service and all-around financing.

The finance process

It’s important to be well prepared before applying for your first mortgage. Know what you want and be ready to have the financials outlined in a short amount of time. It is much more difficult for a consumer to be able to cope with the financial situation that is required in a short amount of time. We have all been through this before so we are well equipped with advice and experience to get you into a great mortgage product, in a short amount of time.

Choosing the best mortgage product

Prior to a mortgage, there are a few things that you should consider when choosing the right mortgage product to fit your needs. Your mortgage, just like your home, is a long-term commitment and you want to be certain that the product you choose will meet all your financial needs. The main considerations that you should consider when choosing the best mortgage product are: Qualified Mortgage versus Non-Qualified Mortgage Qualifying for a mortgage is a legal and complex process.

Mortgage lending options

To be clear, getting a mortgage isn’t just about rates. It’s about meeting your financial goals – whether that’s staying with the same home, gaining equity, or getting out of debt. At Capital Mortgage Brokers, we help make those goals a reality. Unlike traditional lenders, we have a wide range of options at our disposal. We’ll help you stay within your budget by structuring your mortgage according to your unique circumstances and savings goals. We can get you on the road to financial freedom by saving you the cost of a rate increase or a high closing costs. Homeownership Made Easy. We’ve been there, and we know you can do it too. Contact Capital Mortgage Brokers in Ottawa today to start your journey towards home ownership.

Conclusion

In this digital age, the importance of building relationships with clients and referring them is more vital than ever before. As a mortgage broker, there are endless advantages of customer referral networks. While some brokers may boast excellent technological resources, customer referrals are still the secret to the success of a home mortgage broker.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

Ottawa Mortgage Brokers: Capital Mortgages

Ottawa Mortgage Brokers: 3 Questions To Ask Before Choosing One

Capital Mortgages specializes as a service-oriented brokerage that prides itself on integrity and maintaining a service level second to none in the industry. Whether you are looking to purchase a principal residence, a revenue producing property, or are preparing to refinance existing loans and mortgages, our team of mortgage brokers and agents will offer seamless solutions.

What To Ask Before Choosing A Mortgage Broker

We’ve taken this article from our blog and applied it to two groups of clients and business owners. Sellers – Looking to sell your property or have a limited budget? Well, unfortunately, mortgage brokers are not the places to turn to when you’re trying to sell your home. Why? Because your best option is to sell your house to a local buyer, like a family member or your roommate. Let’s face it, if you are selling your home to a buyer in another province, you are probably not going to qualify them, which leads to your house sitting on the market for a very long time. In the long-run, this could also negatively affect the value of your home. Do not sell your house to a mortgage broker.

Why Choose Capital Mortgages for your Ottawa Mortgage?

Our team of mortgage brokers and agents have years of combined experience servicing client’s mortgage needs. We pride ourselves in our ability to effectively deliver on both your time as well as a process that is timely and transparent. Our team is highly knowledgeable and transparent. We offer personalized mortgage services. This means that we take the time to understand your needs, and then we work with you to provide solutions that work best for your specific situation. We also take the time to get to know the market, so that we can advise you of what is available to meet your needs. Our entire brokerage consists of qualified mortgage professionals that are available 24/7 via phone, email or in person.

How To Get Started With Capital Mortgages: Ottawa Mortgage

You need a loan. The first step in the process of purchasing a home is obtaining a mortgage. The second step is determining which mortgage option is best suited for your individual needs. Whether you want to obtain a variable, fixed, or 15 year mortgage, we at Capital Mortgages can assist you. You can also contact us to discuss financing of other purchases like a vacation home or investment properties. But how do you make sure you choose the right mortgage? 1. Rent out your existing property. Before you can finance a home, you need to be able to rent it out. Depending on your personal situation, this could be a good idea. However, if you have kids in school, do not own any pets, are a renter yourself, and are retiring, renting out your home may not be possible.

Conclusion

Mortgage brokers that follow the above rules should be able to provide comprehensive advice for borrowers and clear, concise communication that answers any concerns that might arise. Investing in a good brokerage experience is worth the extra time and effort that you might have to spend at closing.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

Ottawa Mortgage Specialists: Capital Mortgages

Fun Facts About Ottawa

Ottawa is the capital of Canada

Firstly, Ottawa was the capital city of Canada from 1844 to 1857. It became the national capital in 1867, after having been the capital city of Upper Canada from 1841 to 1843. Ottawa has the largest science museum in North America. The Canadian Science and Technology Museum opened in 2015 and has twice the exhibition space of its nearest competitor.

It’s home to over 2,000 unique objects. 4th largest French-speaking city in the world More than 240,000 people in Ottawa are French-speaking. It’s the fourth largest French-speaking city in the world. The region has over 150,000 people who speak French, which is the most in the country.

The Rideau Canal connects to Ottawa

Secondly, the canal is used in winter for a whole variety of winter sports. Aquatots is a unique music and skydiving company with an Ottawa connection. The Royal Military College of Canada is where Canadian Forces officers come to learn their trades.

The museum of natural history was founded by George Howard in 1830. It’s a museum of natural history & paleontology. The Ottawa Art Gallery is one of the world’s largest in area and holds a superb collection of Canadian Art. Tim Hortons originated as a small restaurant that sprang up to serve soldiers at a local military base. The Ottawa Valley region has several lakes including the Rideau Lakes, Ottawa River and the Ottawa River itself. The City of Ottawa is the capital of Canada and its largest city.

The old city hall was built in 1865

Thirdly, the first reference to Ottawa’s Old City Hall appears in an 1863 draft of the Ottawa Plan of Growth. According to this plan, the area known as Bytown was one of three districts to be laid out in the future capital city of the province of Ontario.

Bytown, at the time a mixture of large farm fields, small woodlands and prairie, was within walking distance of the river and was part of a “park and lake” surrounding Ottawa. In the early 19th century, Bytown was home to a village with a population of around 200. By 1835, the population was around 2000. By 1848, Ottawa became the capital of Ontario and was incorporated as a city in 1855.

Canada’s Parliament Hill is in Ottawa

In 2019, the Canadian Parliament will be undergoing some renovations that will last until 2021. Despite the project’s completion date, the Peace Tower will remain an official tourist attraction and accessible to the public. If you’d like to spend some time there, you can visit any time.

The Moncton Cathedral is the only cathedral in Canada Canada’s only cathedral, The Cathedral of the Immaculate Conception of Our Lady of the Angels, is situated in Moncton, New Brunswick. The cathedral was founded in 1930 by the Congregation of the Holy Redeemer.

The church follows the Roman Catholic Church. Ottawa’s military is the largest in the world The Canadian Armed Forces (CAF) has 25,000 troops with over 300,000 reservists.

There are many famous museums in Ottawa

The Rideau Canal is home to one of Canada’s most beautiful and well-preserved old-world canals. When we’re not sailing on the river, we can visit this historic canal to stroll around or jump aboard a paddlewheeler.

There are over 140 attractions located along the canal Located along the waterfront of the Ottawa River are National Capital Commission (NCC) properties, including Parliament Hill, the NCC’s headquarters, as well as many of Ottawa’s prime tourist attractions.

If you’re looking to go for an overnight stay, Ottawa’s hotels offer fantastic rates. Book an evening stay at the hotel just a few blocks from the airport and enjoy low nightly rates, some include breakfast!

Canada Day is celebrated in Ottawa

The capital of Canada is celebrating our national birthday this year with our biggest fireworks display yet. Come check out the city’s biggest and brightest fireworks celebration this year on July 1.

In conclusion, although Ottawa is a small city, there is plenty to do, see and do it all! There are so many options when it comes to meeting people.

We here at Capital Mortgages look forward to assisting you with Ottawa mortgage needs. Contact us today by calling us at: 613-228-3888 or email us direct at: info@capitalmortgages.com

You can use these links to APPLY NOW or CONTACT US.

You can also click here.

Capital Mortgages opened in January 1999 and has since serviced thousands of clients and arranged several billion dollars in mortgages in Ottawa area.

The Benefit of Rate Holds

The term “rate hold” may be something you are familiar with if you have worked with us in the past. If not, it is a term that all prospective buyers should know!
 
A rate hold is offered by the majority of lenders to clients who are purchasing a new home and need a mortgage. The purpose of the rate hold is to secure the interest rate on your mortgage application for a certain time period. Often, these holds range from 90-120 days. Bear in mind, these are typically not provided for anyone refinancing their mortgage or looking to transfer it from one lender to another. Only those looking to purchase a home or establish a brand-new mortgage.
 
Once you have created an application with us, We can submit it to an available lender who is offering a rate hold on an interest rate you want to take advantage of – all without a property attached.
 
For an example of how a rate hold works, consider this. On day one you submit your application to a lender for a fixed interest rate of 2.64% for five-years. On day 60, that interest rate moves to 3.12%. As long as your mortgage closes in the next 60 days, you are protected and can keep your lower rate of 2.64%. Plus, if rates happen to trend downward, you can also take advantage of the lower interest rate.
 
This rate hold does not commit you to working with that particular lending institution, nor does it commit you to working with us. It also does not hurt your chances of receiving an approval down the road! All it does is protect the agreed upon interest rate for you while you shop the market, so you don’t have to worry about it increasing while you are hunting for your perfect home!
 
Once the 120 days expires, if you have not found that perfect home fit or want to take advantage of different interest rates, there is nothing stopping you from submitting another rate hold! It will just be subject to the current rates on the day of submission.
 
If you are looking to purchase a new or secondary home this summer, please don’t hesitate to reach out to Capital Mortgages to get started on the pre-approval process and put your rate hold in place!

 

Capital Mortgages opened in January 1999 and has since serviced thousands of clients and arranged several billion dollars in mortgages in Ottawa area.

Home Renovations That Can Increase Your Property’s Value

Thinking of selling your home? Lucky for you, Ottawa is currently experiencing a resounding seller’s market, with the average price of homes sitting at a historical all-time high. To generate even more income from the sale of your property, why not consider some of the following renovations to increase its total value?

Finish your basement

This is a great way to add more heated square footage to your home and increase your home’s value by about $50,000 on average.

Open up your floor plan to create space

Today’s buyers prefer open concept living spaces that combine the kitchen, living room and dining room. Invest in knocking out the walls between these spaces to create a wide-open, inviting room that will attract potential buyers.

Increase closet space

Living in Canada with four seasons, extra closet space for seasonal wardrobes is always welcome! 

Modernize kitchens and bathrooms

You don’t necessarily have to completely overhaul your home’s kitchen and bathrooms, but a minor remodel that will modernize them by incorporating new cabinet fronts or hardware will instantly boost your home’s value.

Improve your home’s curb appeal

A new front door, clean landscaping and nice outdoor lighting fixtures are just some of the ways that you can wow potential buyers when they first see your home. These are quick, easy improvements that greatly boost your home’s physical appearance upon first glance.

Replace carpets with hardwood floors

Carpeted floors are a thing of the past! Modern buyers are interested in hardwood floors throughout the house and will add in their own accent rugs to warm up a space.

Redo the roof

If your home is due for a new roof, replacing yours can recover 107% of its cost at the time of resale and will set your property apart from similar homes for sale in the neighbourhood.

Install a smart thermostat

These types of thermostats can adjust your home’s energy consumption and lower your utilities costs. They’re currently ranked as one of the three most-wanted home technologies by prospective buyers.

 

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Capital Mortgages opened in January 1999 and has since serviced thousands of clients and arranged several billion dollars in mortgages in Ottawa area.

Renting Vs. Owning – What To Know Before Buying Your First Home

Chances are, you’ve heard from countless people that owning a home is the best financial decision you can make. By investing in property, you’re accumulating net worth over time. By renting, you’re “throwing money out the window”. 

Although people will always need a place to live, which costs money regardless,  there are definitely a few major upsides to owning property.

Renting offers tenants flexibility, predictable monthly expenses, and the peace of mind of knowing that somebody else will cover the cost and time needed to make any necessary repairs to the property you’re living in. You don’t have to worry about the sudden cost of replacing a new roof, and your biggest concern is whether your landlord will sell the property or increase your rent at the end of each lease term. 

On the other hand, home ownership provides you with the coveted opportunity to build long term equity, a sense of stability, and a feeling of belonging to your community. It provides you with the freedom to renovate to your heart’s content, the ability to grow your net worth within a secure investment and the future potential to earn rental income and pay off your mortgage faster by renting out your basement, or a spare room within your home.

There is also the added possibility of your home increasing exponentially in value over several years. We’ve seen this at an increasing pace in Ottawa, with the value of local homes skyrocketing within even the past year. This means that you could easily have bought something at $400,000 just a year or two ago, and now be able to sell it for $550,000 in the current bidding war climate.

Do note that your new home will come with several expenses in addition to your mortgage before making the decision to buy. Some of these expenses include: transactional costs, property taxes, garbage removal, water and sewer service, repairs and maintenance around the house, pest control, landscaping, homeowners insurance and mortgage interest. However, pretty soon you’ll be chipping away at your principal payments and eventually, will own your home outright – putting several hundreds of thousands of dollars in your pocket!

Choosing whether to rent or buy is a unique decision that will be different for everyone depending on their lifestyle and personal preferences. Our team has the knowledge and experience to help you make the best decision based on your needs. Give us a call today at 613-228-3888.

Capital Mortgages specializes as a service-oriented brokerage that prides itself on integrity and maintaining a service level second to none in the industry.

Five Questions You MUST Ask Your Mortgage Broker

As you navigate through the process of applying for a mortgage, you are going to encounter a multitude of steps, paperwork, and challenges along the way. Just when it seems like everything finally makes sense, boom – you come across a hidden charge, surprise component, or another tidbit of information that you had no idea would be involved in the process. To simplify things and gain a broader understanding of the journey you are about to embark on, here are five questions you should definitely be asking your mortgage broker.

 

What Types of Lenders are Available to You?

 

All lenders are not equal! Your mortgage broker will work with you to determine your overall financial situation before recommending a suitable lender based on your needs and constraints. They will do a great job of ensuring that you are opting for the least amount of risk and selecting a financial institution that’s right for you – which is probably not the same as it would be for your best friend or your neighbor. 

 

What Should I Keep In Mind For The Future?

 

In the immediate excitement of purchasing a home, many people can forget to consider what may be in store for the future. An amount you are able to afford today might not necessarily be the right choice for your future, given that you might soon become a parent or change jobs. Even if you are not planning to make any impending lifestyle changes, your mortgage broker will be able to explain rising interest rates to you and incorporate these variable future factors into their negotiations with your lender.

 

Which Interest Rate Do I Qualify For?

 

Your mortgage loan is one thing, but the interest on top of it is a completely different element to consider. The interest rate that you qualify for is dependent on your down payment amount, credit, and employment income. Ask your mortgage broker to explain which rate you qualify for, as this can impact you in two ways. For one, you will end up saving thousands of dollars in the long run if you qualify for a low-interest rate. However, if your rate is higher, your loan will be more expensive to pay back and could potentially become troublesome for you to manage financially. 

 

How Much Should My Down Payment Be?

 

Many people mistakenly assume that if they put a 20% down payment on their home, their mortgage’s interest rate will automatically be lower. However, this isn’t always the case. You can often put down as little as 5 percent and receive the same interest rate as you would if you put down 10, 15, 20 or even more. High ratio insured rates are currently lower than that of a 20% down payment. Your mortgage broker can shed more light on how much cash you should put down, which can be especially helpful if you are worried about cash flow throughout the purchase of your home and impending changes to your lifestyle.

 

Which Type Of Mortgage Should I Consider?

 

There are two types of mortgage interest rates: fixed and variable. Depending on your preferences and tolerance for risk, your broker will recommend that you either opt for a rate that doesn’t fluctuate or one that changes according to market trends. 

While these questions are simply just the tip of the iceberg when it comes to what you should be asking your mortgage broker, they’ll provide a solid foundation for getting started. Don’t forget to also factor in that there are several associated costs with applying for a mortgage – such as appraisals, credit reports, lender’s title policies, pest inspection reports, recording fees, taxes and more! Give Capital Mortgages a call today and we’d be happy to explain further.

Capital Mortgages specializes as a service-oriented brokerage that prides itself on integrity and maintaining a service level second to none in the industry.

What is a Purchase Plus Improvement Mortgage?

When you are preparing to purchase a new home, you will be introduced to plenty of new jargon related to your mortgage. Purchase Plus Improvement is one of the important ones – because understanding this term could end up saving you lots of money in the long run.  

Are you interested in purchasing a new home that requires renovations? Do you intend to do those renovations? Are these renovations capable of truly transforming the structure of your home (i.e. a new kitchen, bathroom, roof, flooring, windows or doors)? Do you need access to funds to complete those renovations right now? If you answered yes to any of these questions, then perhaps a Purchase Plus Improvement Mortgage is for you.  

 

How it Works: 

If you are certain that you will be fronting the bill for some home renovations in the new home you are purchasing, you can actually roll all of those dreaded renovation costs directly into your mortgage. The CMHC Purchase Plus Improvement Mortgage enables buyers to borrow as much as 10% of the estimated value of their home, post-renovation. If you believe you can renovate and improve the value of your home by $30,000, then you will be considered for a mortgage approval that tacks that amount onto your initial pre-approved mortgage amount. That means that all of those expenses are held and managed in one place.  

  • First off, you must outline what renovations are required and the estimated cost of these renovations. 
  • Next, you submit your mortgage application on the house as it currently is, and receive a pre-approval from your mortgage broker.  
  • Now is the hard work – you have to go and get specific quotes (with the exact renovation work that will be done).  
  • Present these quotes to your mortgage broker and your mortgage will be reassessed to include the cost of the quoted renovations. 
  • Now you have your new home and renovations can get underway immediately by a professional contractor or, yourself (but only material costs, not your labour, would be covered)! Do not go over the allotted maximum amount you were approved for. 
  • To confirm the completion of the renovations, a bank representative / appraiser will visit your home and cross reference the work with your initial documents.  
  • Your renovation funds will be released. 

 

Example:

Here is a real-life example of a purchase plus improvement mortgage situation after a 5% down payment is paid (which includes the renovation cost):
  

Home Purchase Cost: $350,000 

Cost of Renovations: $35,000 

Revised Purchase Price: $385,000 

Mortgage Amount: $365,750  

CMHC: $13,167 

Total Mortgage Amount: $378,917 
  

It is without a doubt that this Purchase Plus improvement Mortgage is the most effective and affordable way to finance big home renovations. If you are interested in learning more about this mortgage option, contact our team at Capital Mortgages today for more information. 

 

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

How to Choose a Mortgage Broker

Mortgage brokers are independent, trained professionals licensed to represent you and provide you with honest unbiased mortgage advice. Due to their experience and connections within the mortgage industry, mortgage brokers have the knowledge required to present a proposal for financing to lenders in the best way possible to successfully obtain mortgage financing. Your mortgage broker represents you, not the mortgage lender, and will shop the market to help you secure the most favourable financing suited to your individual needs. This will save you both time and money! Here are some tips on how to choose a mortgage broker:

 

Start your search

Before meeting with a mortgage broker, do some research. Go online and search different websites for brokers in your area, ask friends and family for referrals, and check social media accounts to see which brokers are most active. You can also check the directory of licensed mortgage professionals on the Financial Services Commission of Ontario’s website to see which brokers are listed.

 

Set up a meeting

The best way for you to get a feel for a mortgage broker, and to see whether they’d be a good fit for you, is to meet them in person. This way, you have the opportunity to ask questions that pertain to your specific circumstances and to see if the broker is attentive to your needs and wants. At Capital Mortgages we place a strong focus on great solutions, compassionate service, and honest ethics, to form a reliable genuine working relationship with you.

 

Ask questions

When you meet with a mortgage broker for the first time, you should feel confident asking them questions about how they do business and how they can best help you. Asking questions will enable you to make the most informed decision about your financial future. You could start by asking how the application process works, and inquire about the different lenders they work with and why they have chosen to work with them.

 

Check references

Finally, you will want to check references to make sure that previous clients were satisfied with the service they received. You can look at social media pages, Google reviews, and the company website to read client testimonials and reviews. We have a number of testimonials on our website and Facebook page that you may read to give you a good idea of the high-level of service we provide to every client.

 

At Capital Mortgages, our mandate is to offer the best financing products available for all your mortgage needs. Ready to set up an appointment with one of our experienced mortgage brokers or agents? Contact us today!

Capital Mortgages specializes as a service-oriented brokerage that prides itself on integrity and maintaining a service level second to none in the industry.

5 First-Time Homebuyer Mistakes and How to Avoid Them

Congratulations! You’ve decided to take the plunge into homeownership and purchase your first home. Now, you have all the excitement of house-hunting and finding your perfect home to look forward to! However, there are some bumps you may encounter along the way if you aren’t properly prepared for them. To help you, here are 5 first-time homebuyer mistakes and how to avoid them:

 

Not doing your homework

Purchasing your first home is a huge step and not one to be made in a hurry. Make sure that you do your homework by researching different neighbourhoods and considering which are most suited to your needs now, as well as 5 or 10 years in the future. Things to consider include walkability, green space, nearby schools, and whether or not the city has any upcoming plans for development.

 

Maxing out your budget

It can be easy to get swept up into the excitement of house-hunting and to start looking at homes that are in the top-end, or even above, your budget. One of the best things you can do before you begin to look at homes is to obtain mortgage pre-approval. With mortgage pre-approval, not only will you demonstrate to sellers that you are a committed buyer, but you will know exactly how much you can afford and what your monthly mortgage payments will be.

 

Not taking other costs into account

There are more costs to take into consideration than simply your monthly mortgage payments. By purchasing a home you are also committing to pay utilities, insurance, maintenance, possible condo fees and property tax. A good way to gain an accurate idea of what costs you can expect is to ask your realtor. You should also factor closing costs, such as legal fees, property tax adjustments and the land transfer tax, into your final numbers.

 

Skipping the home inspection

A home inspection is vital in ensuring you know exactly what you’re getting in terms of the current state of your home. A professional home inspector will look carefully at your home’s foundations, windows and roof, and will tell you if there is any water damage, mould, or structural issues that you need to address. If possible, include a home inspection as part of your conditional offer.

 

Making assumptions

You think the previous owners are leaving behind their appliances, only to arrive on move in day to find they have taken them with them and you are now left to replace a costly washing machine and dryer. If you think the previous owners may leave items behind, or if you have even discussed this with them — make sure to get it in writing. Items such as window treatments, lighting fixtures, and appliances are most often left behind but just make sure you clarify first exactly what you’re getting without making an assumptions.

 

Feeling overwhelmed? Let our team guide you through the homebuying process with ease. Capital Mortgages offers step-by-step personal assistance from knowledgeable mortgage brokers and an easy online application process. We’ll be by your side each step of the way, from helping you understand your options and what to expect, to mortgage pre-approval, and all the way through finalizing your mortgage and the purchase of your home.

 

Ready to talk? We’d love to help!

Reach out to us by phone at 613-228-3888 or by email at info@capitalmortgages.com

 

If you found this information useful, make sure to like and follow us on Facebook, LinkedIn, Twitter and Instagram! We are constantly posting valuable home tips, pertinent news articles, and reliable mortgage advice to better educate and inform our clients.

 

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

Making the Most of Your Mortgage Broker

Your relationship with your mortgage broker does not just cover the purchasing of your first home. If you have a good relationship with your mortgage broker, it should exist for the entirety of your adult home-buying life. Purchasing a home can be an overwhelming and confusing experience, and your mortgage broker can be one of your greatest allies in this process. Most mortgages will be up for renewal two or three times during their total term, so there will be plenty of opportunities for you to touch base with your mortgage broker, look at the best current interest rates, and reassess your current financial situation. Here are some ways in which you can make the most of your mortgage broker by forming a strong trustworthy business relationship with them:

 

Be honest

Your mortgage broker can only help you secure the best mortgage for your specific needs if you are completely honest with them about your financial situation. Make sure that you provide your mortgage broker with all of the facts at the very first meeting, otherwise it will just be time wasted further down the road when it all comes out during your application.

 

Keep them updated

Over time, your life goals and plans can change. It is worth keeping your mortgage broker updated of any change in your long-term plans, such as your plans to move to a different city, buy an investment property, or downsize. By knowing this information, your mortgage broker will be able to make the best and most accurate suggestions to achieve your short- and long-term financial goals.

 

Referrals

If you’re happy with your mortgage broker, the best way to show them your appreciation is to refer them to a friend or family member! You can feel confident that your friend or family member is getting the best mortgage advice and be happy in the fact that you helped your mortgage broker gain a new longtime client.

 

Having a good relationship with your mortgage broker will only benefit you in the long-term. At Capital Mortgages, our goal is to be your personal mortgage broker for life. We offer as many in-person meetings, phone communications or emails as required so that all your needs are met. Mortgage solutions are not one-size-fits-all scenarios. We get it right, for you! Contact us today to get started.

 

Capital Mortgages specializes as a service-oriented brokerage that prides itself on integrity and maintaining a service level second to none in the industry.

What is Mortgage Default Insurance and Do I Need it?

The mortgage world can be a tricky one to enter. As interest rates keep fluctuating and qualifying rules keep changing, you can be left feeling thoroughly confused and overwhelmed. Don’t worry! Our expert team of Capital Mortgages agents and brokers are here to help. Have you heard the term ‘mortgage default insurance’ and are not sure if it applies to you? To clear things up, here is some information to better explain the point of mortgage default insurance and when you may need to pay it:

 

What is mortgage default insurance?

Mortgage default insurance is coverage provided to a lender that protects them in the case that a borrower stops making payments and defaults on their mortgage. Like any other insurance, mortgage default insurance requires additional premium payments. The premium amount will vary depending how much of the purchase price is being financed by the mortgage. Your mortgage insurance premium is usually added to your mortgage amount and paid off over the life of your loan. However, you do also have the option of paying the premium upfront from your own resources.

 

Do I have to pay mortgage default insurance?

In Canada, the minimum down payment you can put towards a home is 5 per cent. Any down payments between 5 and 19.99 per cent require mortgage default insurance. By protecting lenders against borrower default, mortgage default insurance offers homebuyers in Canada the ability to purchase property that would otherwise be financially out of reach. Mortgage default insurance is not available on all property types and amounts. A member of our Capital Mortgages team would be happy to help you navigate this issue.

 

How can I minimize my mortgage default insurance amount?

As the borrower, it benefits you to pay more money upfront: the greater the down payment, the smaller your mortgage and, in turn, the lesser your premium. Your down payment must come from your own cash resources. Financial gifts from an immediate family member are also allowable. If you are a first-time homebuyer, you may be eligible under the Home Buyers’ Plan to draw from your RRSP. Your mortgage broker will be able to discuss these options with you to help you determine which is best suited to your needs.

 

Are you still confused about mortgage default insurance and whether or not you need to pay it? We can help! Connect with one of our Capital Mortgages agents today and we will provide you with clear and concise advice, helping you to find the perfect mortgage solution to fit your needs.

 

Capital Mortgages specializes as a service-oriented brokerage that prides itself on integrity and maintaining a service level second to none in the industry.

4 Mortgage Pitfalls to Avoid as a First-Time Homebuyer

There are a lots of different factors to consider when purchasing your first home, such as which neighbourhood to buy in, what type of home you can afford, and securing the right type of financing. It is easy to get swept up in the excitement of making your first home purchase however, there are many mistakes to be made if you aren’t careful. Here are 4 mortgage pitfalls Capital Mortgages can help you avoid as a first-time homebuyer:

 

1) Not Getting Pre-Approved

Mortgage pre-approval should be your first point of call as a first-time homebuyer. Not only will a mortgage pre-approval help you understand your upper loan limit and the amount and type of loan you can afford, but it is the perfect time to discuss with your Capital Mortgages broker the whole process of purchasing your first home and arranging the mortgage best suited for you.

 

2) Taking On More Than You Can Afford

It’s normal to want to buy the biggest home you can afford, however, this may not be the wisest move. A larger home means larger mortgage payments, but it also means more expensive home ownership costs, such as property taxes, maintenance fees, and utility bills. Before purchasing a home, you should take all these costs into consideration and avoid taking on more than you need, even if it is affordable.

 

3) Longer Amortization Period

Your mortgage amortization period is the number of years you will need to pay off your mortgage. It is an important decision that can affect how much interest you pay over the life of your mortgage. The most common amortization period is 25 years, but you can choose a shorter or, if uninsured, a longer period of 30 years. A longer period means that your monthly mortgage payments will be lower, but it will take you that much longer to be mortgage-free. More interest will be paid over the life of the mortgage and you will build the equity in your home at a slower pace. It is also worth noting that if you choose an amortization over 25 years, you must have a down payment of at least 20%.

 

4) Not Reading the Fine Print

When applying for a mortgage, it is in your best interest to understand all the terms and conditions that apply to you and be clear in what you are committing to. Your Capital Mortgages broker will be able to go through all documentation with you, step-by-step, and clearly explain anything that you do not understand.

 

We understand that purchasing your first home can be an overwhelming and intimidating experience. With over 20 years experience in the mortgage industry, the team at Capital Mortgages has the necessary knowledge to help guide you effortlessly through finding your first mortgage and beyond. Contact us today to get started!

 

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

The Most Romantic Things to Do in Ottawa this Valentine’s Day

It’s almost February, and you know what that means — Valentine’s Day is just around the corner. Whether you like to shower your loved one with gifts or prefer a more low-key celebration, there are lots of romantic places in Ottawa to visit on this special day. Here are a few of our top suggestions of what to do in Ottawa this Valentine’s Day:

 

Go for a skate on the canal

Choose a mild winter evening to go for a romantic skate on the ice with your loved one. Hold hands and cuddle together for warmth as you travel along the longest ice skating rink in the world, right through the heart of the city. End your evening with a hot chocolate and a Beavertail, surrounded by the twinkling lights of downtown Ottawa.

 

Enjoy a spa day

Treat your partner to some well-deserved pampering at one of the wonderful spas in the Ottawa-Gatineau region. Our favourites are Le Nordik in Chelsea and the Amerispa in Cantley! Take the time to relax, reconnect and enjoy one another’s company.

 

See a show at the NAC

Does your loved one adore the theatre? Take them to enjoy a show at the newly-renovated National Arts Centre. The NAC hosts the best music, dance, and theatre shows in the country, with plenty to choose from! With the NAC’s prime downtown location, you can enjoy a stunning pre- or post-show meal at one of Ottawa’s top restaurants, such as Riviera on Sparks Street or e18hteen in the Byward Market.

 

Take a cooking class together

Do you and your partner enjoy eating out? Learn how to treat yourselves to restaurant-quality meals in the comfort of your own home by taking a cooking class. The Urban Element has a variety of impressive cooking classes to choose from hosted by some of Ottawa’s top chefs. Whether you’d like to try Moroccan or Mediterranean cuisine, or simply learn some cooking fundamentals, The Urban Element has something for everyone.

 

Dinner and drinks with a view

One of Ottawa’s hottest new drinks spots is the rooftop bar at the Andaz Ottawa in the Byward Market. Head up to Copper Spirits & Sights on the 16th floor to enjoy unparalleled sights of the beautiful city of Ottawa, while enjoying a classic cocktail. The hotel’s restaurant, Feast + Revel, boasts innovative and sophisticated Canadian cuisine guaranteed to tantalize your taste buds.

 

However you are celebrating this Valentine’s Day, we hope you enjoy yourselves! Are you and your loved one looking to secure a mortgage? At Capital Mortgages, we work to deliver unbiased mortgage advice from a vast choice of mortgage options with dozens of different lenders, saving you both time and money. Contact us today to get started!

 

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

7 Financial New Year’s Resolutions for 2019

The beginning of every new year presents a blank page — a fresh start which offers you the chance to begin the year on the best foot. If you hope to become more financially savvy in 2019, then take a look at these top financial resolutions to help you save better and spend smarter in the new year:

 

Do an audit of last year’s spending

The best way to formulate an effective financial plan and to stick to it, is to know your spending habits. Do an audit of your spending and financial habits over the previous year. What were you spending the most amount of money on? Were all the purchases necessary? Identify any financial mistakes and make sure not to make them again.

 

Identify your financial goals and set a budget

Armed with the knowledge from your personal audit, decide on your financial goals for the years and set yourself a realistic monthly budget. Are you saving up for a down payment or a vacation? Perhaps you want to help your child pay for their education. Whatever your goals, be specific. Know how much money you need to save and budget accordingly. Whether you use a personal finance app, a spreadsheet, or a trusty notebook, track all your monthly outgoings and make sure you’re staying within your arranged budget.

 

Automate better financial habits

To get yourself started on a more secure financial path, start by automating some better money habits. For instance, set up a direct debit to send money directly into your savings account after you get paid every month. If you have debts to pay off, calculate those in your budget and automate those monthly payments too.

 

Commit to ‘no-spend’ days

One day a month, or even one day a week if you’re feeling ambitious, commit to having a ‘no-spend’ day where you don’t get your wallet out for any reason. Cook at home, watch a movie with your family, and don’t make any purchases. Think outside the box and find free activities to enjoy. You’ll feel all the better for it!

 

Cut back on bad money habits

What did you notice after looking back over last year’s finances? Perhaps you spent too much money on fancy coffee, or went shopping for new clothes too often. By recognizing your bad money habits, you can make more of an effort in the future to curb them.

 

Connect your resolutions

Bad habits can be hard to break and good ones difficult to form. To make things go a little smoother, try connecting your new year’s resolutions until the become second nature. Planning to get fit and exercise in the new year? For every successful workout you do, put $5 into your savings account. Seeing the money stack up will incentivize you to keep heading to the gym. Miss a workout? You have to pay $5 to a family member or friend instead.

 

Listen to a personal finance podcast or read a book

Knowledge is power and the more knowledge you have about your personal finances, the more power you will have to make smarter financial decisions. There are a huge number of personal finance podcasts available, whether your interest is in investing, frugality, or paying off debt. IF you’re not a podcast listener, pick up a book instead.

 

Looking to secure a mortgage in the new year? Capital Mortgages has been serving the community since 1999 with over 4 billion dollars in mortgages placed. We work to deliver unbiased mortgage advice from a vast choice of mortgage options with dozens of different lenders. For you, this means saving both time and money. Do not hesitate to contact us today!

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

The Best Holiday Gifts for New Homeowners

It’s that time of year again! The holiday season is upon us. No doubt you have a long list of gifts to buy for all the important people in your life. If some of those people are new homeowners, they will likely be looking forward to spending their first Christmas in their new home. To commemorate this important milestone, here are some extra special gift ideas for new homeowners:

 

Key Holder

What’s one of the most frustrating things about being a homeowner? Losing your keys! Ensure this never happens by gifting the new homeowner with a stylish key holder that will take pride of place in their entryway.

 

New Home Christmas Ornament

Give the gift of a happy reminder that will be brought out year after year to adorn the Christmas tree! A personalized ‘new home’ ornament is the perfect way for the new homeowner in your life to always look back fondly on the first Christmas in their new home.

 

Personalised Painting

Commission a local artist to paint or draw a picture of the new home, so that it can hang on the wall for many years to come. Even if the homeowners eventually move, the picture will serve as a joyful reminder of the home in which they shared many happy memories.

 

Engraved Cutting Board

If the new homeowner is a whiz in the kitchen, consider getting them a personalized cutting board that is not only practical, but looks great too. If they would prefer not to use it, they can display it in the kitchen instead.

 

Personalized Doormat

A doormat may seem like an uninteresting gift, but it is likely something the homeowner will not purchase for themselves! There are many options these days, from decorative to comedic, giving you the opportunity to pick the best doormat that fits the homeowner’s personality. For an extra special touch, get a personalized doormat with the homeowner’s name.

 

Champagne Flutes

Christmas means holiday parties, hosting friends, and celebrating the year that has just passed. Help the new homeowner see the holiday season through in style with some attractive champagne flutes that they can use to toast other important milestones in the years to come.

 

Scented Holiday Candle

Scents can evoke powerful memories, especially at certain times of the year. Do you have a favourite Christmas scent? Bring the wonder of the holiday season indoors by giving a beautiful scented candle this Christmas.

 

Are you excited for the holidays? At Capital Mortgages, we love this time of year as it gives us the chance to reflect back on all the wonderful times we have shared with our valued clients. If you are looking to buy a home in the new year and would like to learn more about the financing options available to you, do not hesitate to reach out to the experienced team at Capital Mortgages. Whatever your situation, we can help you find a solution that best fits your needs.

 

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

Ottawa’s Coolest Outdoor Activities this Winter

Every year, winter seems to last longer and longer in Ottawa, so the best thing you can do is make the most of it! There is lots of outdoor fun to be had in Ottawa during the winter months, whether you want to get active, try something new, or spend time with family. If you’re looking to enjoy the splendour of winter this year, here are a few outdoor activities in Ottawa and the surrounding area that you should really try!

 

Winterlude

Winterlude is Ottawa’s annual wintertime festival and is always a huge hit with the entire family! Discover the joys of winter by skating on the Rideau Canal Skateway, viewing the stunning snow sculptures, and watching the ice carving competition. Winterlude events are held at various locations in Ottawa including Confederation Park and Jacques-Cartier Park in Gatineau.

 

Ice Dragon Boat Festival

Take the family out to Dow’s Lake this winter for an enjoyable and thrilling experience on the ice! The Ice Dragon Boat Festival will see 100 teams race down the Rideau Canal Skateway in boats equipped with skate-like blades, using spiked ice-picks to propel themselves along the ice. In addition to the racing, there will be free concerts, fun activities, and traditional Aboriginal and Chinese lion dancers. An event surely not to be missed!

 

Patinage en Foret

Take a road trip north of Ottawa to skate the stunning winter woodland trail at Patinage en Foret. The immaculately maintained outdoor skating trail is three kilometres long and offers a thrilling natural skating experience among the trees. After your skate, enjoy a rest with warm drink in the chalet!

 

Escapade Eskimo

Just an hour outside of Ottawa, enjoy the winter experience of a lifetime with Escapade Eskimo’s dogsledding adventures! How better to explore the beauty of winter than by sitting in a sled pulled by a number of excitable husky dogs? In addition to their dogsledding packages, Escapade Eskimo also offer opportunities for snowshoeing, sledding, and relaxing at the spa.

 

Alight at Night in Upper Canada Village

The beautiful Alight at Night experience is Eastern Ontario’s biggest outdoor light festival! See the splendour of Upper Canada Village’s heritage buildings and trees draped in thousands of twinkling lights. Enjoy a scenic wagon ride with a hot beverage, or take a ride on the vintage merry-go-round.

 

Are you looking to secure a mortgage? At Capital Mortgages, we work to deliver unbiased mortgage advice from a vast choice of mortgage options with dozens of different lenders, saving you both time and money. Contact us today to get started!

 

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

Why Getting Mortgage Pre-Approval is so Important

Searching for a home can be an exciting but overwhelming task. To make things go as smoothly as possible when hunting for your dream home, consider getting pre-approved for a mortgage first. Mortgage pre-approval can save you time and hassle when you finally find the perfect home! Here are a few things you should know about obtaining a pre-approved mortgage:

 

What is mortgage pre-approval?

A mortgage pre-approval will help you to determine certain financial factors before you start looking for a home, such as the maximum amount you can afford to spend on a home and the expected monthly mortgage payments associated with that price. Applying for mortgage pre-approval is free of charge and doesn’t commit you to one specific lender.

 

Why should I get mortgage pre-approval?

  • The information you receive in obtaining a pre-approved mortgage will aid you in your home search. You will be able to budget accordingly and only look at homes within your financial range of affordability.

 

  • Mortgage pre-approval also allows you to ‘lock in’ a mortgage rate for a 120 day period. This means that even if interest rates go up while you are searching for a home, you are protected and guaranteed a mortgage at the agreed upon rate provided you purchase and close on a home within the 120 day period. If your mortgage lender’s rate falls during this time, the lender will honour the lower rate.

 

  • Being approved for a mortgage also signals to real estate agents that you are a serious buyer. When it comes to placing an offer on a home, your mortgage pre-approval shows the seller that you are stable in regards to financing. It could also help bolster your chances in a multiple offer scenario.

 

How can I get pre-approved for a mortgage?

The first step in getting mortgage pre-approval is to meet with an experienced mortgage agent who will be able to help you determine the best mortgage for your individual needs. They will ask you a series of questions and request specific documentation to get a thorough overview of your financial situation.

 

Capital Mortgages offers step-by-step personal assistance from knowledgeable mortgage brokers and an easy online application process. We’ll be by your side each step of the way, from mortgage pre-approval to finalizing your mortgage and the purchase of your home. Don’t hesitate — contact us today!

 

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

Important Home Maintenance Tasks for Fall

Ottawa is truly beautiful in the fall. The leaves on the trees turn from green to breathtaking shades of russet, ochre and crimson, while the crisp fall air provides a refreshing change from the humidity of summer. Fall is a time of transition, and this transition should also apply to our homes as we get ready for the coming winter months. By undertaking a few small home maintenance projects now, we can ensure the health of our homes throughout the colder weather. Our team has gathered together a few important fall home exterior maintenance tips for you:

 

Rake leaves

Taking care of your lawn is not just something to consider during the summer months, you should continue to do so during the fall and winter months as well. Make sure to rake up any leaves before the first snow falls. Leaves left under a layer of snow can rot and smother the grass, meaning you won’t have a lovely green lawn to show off when spring arrives.

 

Mow the lawn

Once you have raked up any fallen leaves, mow your lawn. Mowing the lawn is something that should be done regularly. Frequent mowing keeps your lawn under control and stops the long grass from becoming a hiding place for rodents and other small creatures, who may scurry into your home given half the chance.

 

Clean the gutters

Cleaning out gutters is far from an enjoyable outdoor task, but it is an important one! Clear your gutters of any rotten leaves, sticks or other debris to prevent them from overflowing with water in the case of a heavy rainfall this fall or winter.

 

Fix driveway cracks

If left untreated, any cracks in your driveway could pose a huge problem this winter. When snow falls and settles into the cracks, it could cause the concrete to freeze and then expand, making the cracks even bigger. Depending on the material of your driveway, find an appropriate product to fix cracks in the fall and avoid winter damage altogether.

 

Touch up chipped paint

Paint protects the exterior of your home. If paint is flaking or chipped, it means the protective layer is compromised. Chips and cracks could let in moisture, which cause mould and rot. To avoid this issue, make sure to touch up any chipped or flaking paint on the exterior of your home this fall.

 

Remove moss

Moss may look attractive covering your home but it can actually cause huge problems for both your home’s exterior and interior. Moss holds a lot of water, which can seep into your roof and, if left untreated, eventually inside your home. To avoid water damage or mould issues caused by moss, remove it before it has a chance to spread.

 

Are you looking to purchase a home this fall? At Capital Mortgages, we have the knowledge, experience and network to find you the most favourable financing now and for future terms. Do not hesitate – contact us today!

 

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

5 Ways to Save Energy at Home

There are a number of energy-saving methods and behaviours that can easily be implemented within your home environment. The benefits of these are twofold: they will save you money on utilities and will help to protect the environment. Whatever drives your decision to start reducing your energy consumption at home, know that a few small day-to-day changes could create a lasting impact on both your wallet and the planet.

 

1) Change your light bulbs

This is one of the simplest and most affordable ways to conserve energy in your home. Energy-efficient light bulbs, such as LEDs, use 25-80% less energy than their traditional incandescent counterparts. In addition, they will last much longer! Though the initial cost is slightly more expensive than traditional bulbs, they will save you both money and energy in the long run.

 

2) Turn off appliances and lights when not in use

Though it seems like a no-brainer, many people forget to turn off lights or appliances when they leave a room. Perhaps you leave your porch light on overnight, or like to sleep with the TV on. By changing these behaviours you can help to reduce your home’s energy consumption, as well as your utility bill.

 

3) Choose alternatives

Make smarter energy-efficient choices about when to use certain home appliances: for example, wash dishes by hand instead of using the dishwasher, or hang clothes outside to dry rather than use the dryer. The appliances in your home that use up the most energy are those required to heat and cool it. Consider opening windows or using a fan in the summer, rather than turning up the AC. You might just notice a big difference in your utility bill.

 

4) Purchase a smart power strip

Did you know that when appliances are in standby mode they are still using up a large amount of energy? Electronics such as plasma TVs, DVD players, and computers, all have a standby mode that enables them to keep drawing power even when they are not turned on. Smart power strips can be used to turn electronics and appliances off when they are not in use to reduce energy wastage.

 

5) Install a programmable or smart thermostat

Smart thermostats, such as the Nest, could end up saving your household a couple hundred dollars a year. By programming your thermostat to reduce heating or cooling functions when you are away from your home or when you go to bed, you can easily reduce unnecessary energy consumption.

 

Making your home more energy efficient is a smart financial decision. Another smart financial decision? Choosing to find a mortgage with Capital Mortgages! We work to deliver unbiased mortgage advice from a vast choice of mortgage options with dozens of different lenders, saving you both time and money. Contact us today to get started!

 

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

The Best Things To Do in Ottawa for Newcomers

Are you a newcomer to Ottawa? Welcome! We love this city, and are pretty certain you will love it too. Whether you enjoy adventuring outdoors or prefer to stay within city limits, Ottawa has something fun to offer everyone. If you haven’t visited our fair city before, there are a number of things that should be on your Ottawa to-do list. Here are a few of our favourites:

 

Parliament Hill

What’s a trip to the nation’s capital without a trip to Parliament Hill? Parliament is one of Ottawa’s top attractions and a must-see for any first time visitor to the city. There is always an interesting event happening on the Hill! In the summer months, make sure to catch Northern Lights, the stunning Sound and Light Show. This incredible show projects colourful visual displays onto the Parliament Buildings to the sound of music and spoken words.

 

Rideau Canal

Whether you visit in the summer or winter months, the Rideau Canal should definitely be on your list! In the winter, the Canal is turned into the longest ice skating rink in the world! Nothing beats a hot chocolate and a Beavertail on the frozen Canal after a refreshing icy skate. During summer, take a boat cruise along the Canal, which travels directly through Ottawa’s downtown core.

 

Museums

Ottawa has a number of world-class museums, whatever your interests may be! Learn all about Canadian military history at the Canadian War Museum, be amazed by the beautiful works of art at the National Gallery of Canada, and have fun learning something new at the Canada Science and Technology Museum!

 

Adventures on the Ottawa River

More of the outdoorsy type? Head for a whitewater adventure on the Ottawa River! There are options to raft or kayak, in both the city and further down the river about an hour’s drive from downtown Ottawa. Whether you’re a seasoned thrillseeker or are just looking to dip your toe (pun intended!) into something new, you’ll find the perfect whitewater experience for you.

 

Cycling

One of the most scenic ways to enjoy Ottawa’s sights is by bike! Ottawa has a number of bike paths running all over the city, making it a breeze to travel across the city. On Sunday mornings in the summer, the National Capital Commission (NCC) closes a number of roads to keep them free for cyclists, runners and pedestrians.

 

If you are looking to move to the Ottawa area and need help securing a mortgage, we would love to hear from you! Please do not hesitate to reach out a member of our experienced team today. Alternatively, you can apply directly on our website with our simple online application form.

 

Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

6 Home Renovations to Boost Property Value

Whether they have just moved into a new property and it requires some TLC or you they are looking to make some updates to their current family home, the majority of homeowners will usually undertake some kind of renovation on their property while they live there. But did you know that there are some renovations that will not add value to your home? To help you avoid losing money on renovations that won’t give you a sufficient return on your investment, we’ve gathered together the top six home renovations that are guaranteed to boost the value of your property:

 

1) Manufactured stone veneer

Increase your home’s curb appeal, and reel in potential buyers, by updating your unsightly old vinyl or siding with manufactured stone veneer. This attractive update will give a huge facelift to your home and is almost guaranteed to recoup costs when selling.

 

2) Garage door

Consider replacing your current garage door with a modern-looking one with galvanized steel tracks. This update offers another boost to your home’s curb appeal while also providing a practical investment.

 

3) Deck

A well-made and good looking deck is certainly a worthwhile investment to your home. Often, a nicely installed deck will make you back the dollars spent on it. If you have a small yard, a deck will make especially good use of your outdoor space.

 

4) Front door

Potential buyers often make up their minds within the first 30 seconds of visiting a house. Make sure your home packs a punch with an attractive front door. Other things to consider are a nice-sounding working doorbell and a covered entryway or awning. Nobody likes the thought of getting drenched with rain (or snow!) when fumbling for their keys at the front door!

 

5) Floors

Floor renovations don’t need to cost a lot of money. Do you have hardwood floors that squeak? A few nails can take care of that. Do your wood floors need a refresh? Consider refinishing them. Are your floor tiles cracked or chipped? Replace them. Avoid wall-to-wall carpeting as this is not popular with potential homebuyers.

 

6) Walls

A fresh lick of paint on your walls is one of the easiest and most affordable investments you can make in your home. Neutral colours are most appealing to potential buyers so you might want to consider painting over any bright or bold colours. Before you put your home on the market, make sure to fix any holes, marks, or chipped paint on your walls.

 

You can also save money by choosing the right mortgage for your needs. At Capital Mortgages, we have the knowledge, experience and network to find you the most favorable financing now and for future terms. Contact us today to learn more.

 

10 Brilliant & Decorative Home Organization Hacks

 

 

You can easily find gorgeous home décor and useful storage solutions (i.e., storage bins), but it’s harder to find a combination of the two. Areas where home organization solutions are needed are often areas that will also be on full display to guests so, ideally, they should function as tools to de-clutter while still adding to the attractiveness of your home.

 

 

If you cringe at the thought of hideous plastic storage crates and bland cardboard boxes, here are 10 simple, creative and functional home organization and storage ideas that will heighten your home’s aesthetic:

 

1) Display kitchen essentials on a tray

This easy hack can transform your kitchen: Round up your most-used kitchen items (i.e., olive oil, salt and pepper shakers) and place them on a decorative tray to help your kitchen counters look elegant and put-together.

 

2) Use a magnetic knife rack in your bathroom

Install a magnetic knife rack in your bathroom to ensure you always know where your nail clipper, bobby pins and tweezers are.

 

3) Display jewellery on your vanity

Instead of hiding away your stylish earrings and jewellery in a drawer, sort them into beautiful arrangements on a decorative catch-all dish, glass box, or by hanging them from a jewellery tree or cork board.

 

4) Buy matching hangers

If you often have visitors to your home, your entryway closet will see a lot of action. Buying matching hangers—especially good-quality wood hangers—will help your closet look tidy and uniform and save on space between hangers.

 

5) Keep boots looking their best

Do you hate the way your boots sag and lose their shape in your closet? Cut up a cheap pool noodle to pop in your boots and ensure they look their best, even when you’re not wearing them.

 

6) Pare down your linen closet

Give your linen closet a polished look by removing old, fraying or mismatched towels, extra sheet sets and other out-of-place items.

 

7) Group bathroom essentials together

Simply filling containers, such as a glass mason jar, with everyday items like cotton balls or Q-tips can beautify your counter while making things easier to reach for.

 

8) Upcycle tin cans

Wrap tin cans in colourful scrapbook paper to match your home’s decor. The colourful containers can then be used for anything from pens and pencils, to kitchen utensils or even flowers!

 

9) Tie linens and towel sets together with ribbon or twine

For a more coordinated look, sort and decorate your linen or towel sets with colorful ribbon, twine or yarn.

 

10) Organize pots and lids

Save yourself space (and headaches) by organizing pots and pot lids with a lid organizer or hardware store tension rod installed in a drawer.

 

Are you tired of searching around for the most favourable mortgage rates? We have an outstanding range of mortgages and lenders available to help you build the mortgage blueprint that best fits your financial future. Contact Capital Mortgages today and let us take care of you.

 

8 Smart Spring Cleaning Tips for Your Home

 

Spring is upon us, and with the fresh spring air (and hint of warmer weather) typically comes the cleaning bug. Is your goal to clean smarter this year? Throw open those windows, turn on your fans and use these brilliant tips to tackle spring cleaning your home:

 

1) Clean windows with a windshield squeegee

Struggle with paper towels or cleaning wipes when cleaning your windows? A windshield squeegee (the same you use for your car windshield) helps get those windows sparkling without the streaks.

 

2) Freshen blankets and pillows by airing them outside

Sometimes instead of a wash, blankets and pillows that have been sitting inside just need a fresh air infusion. Hang them up on a clothesline or let them sit in the sun and let nature do the spring cleaning.

3) Use vinegar to remove mineral deposits

Did you know you can use paper towels soaked in vinegar to remove lime buildup around faucets and other surfaces in your bathroom? If you have dirty or closed shower head jets, vinegar can also be used to clean off built up mineral deposits.

4) Rent a professional carpet cleaning device

Many home improvement stores offer professional-grade carpet cleaning devices for rent. This offers a much deeper clean than simply vacuuming, and at a much cheaper cost than hiring professionals.

5) Wipe down your walls

Often walls get neglected when it comes to home cleaning, even though they get dirty from falling dust and other debris. Clean your walls by using a sponge mop or wet towel with watered down dish soap.

6) Disinfect your sink disposal with lemon

Over time, your sink disposal can get somewhat stinky and have food build-up. Send some cut-up lemon, ice and salt down the disposal to help rub off food particles and get rid of any unwelcome smells.

7) Protect shower doors with a water repellent

Once you’re done cleaning shower doors, apply a coat of auto rain repellent — the same as you would on your car’s windshield. The water will bead and slide off instead of building up on your glass.

8) Get rid of unworn clothes and garments

Use this rule of thumb: If you haven’t worn it in a year or more, ditch it! Clearing your clothing clutter will create much-needed space in your closets and drawers.

 

Spring is the season of growth and rebirth, making it the perfect time to make a change. Do you need help obtaining a mortgage this season? We can help! Contact a member of our experienced Capital Mortgages team today and we’ll talk you through the process.