18 Mar

21 Reasons We Love Cornwall REASON #7 LIVE ENTERTAINMENT

General

Posted by: Jenni MacDonald

Why Do We Love To Live in Cornwall and Area?

Century 21 Agent, Mike VanderMeer, and I have compiled a list of 21 reasons why we love to live in Cornwall, ON.   Why do you love this place?

Port Theatre, Cornwall, ON

Port Theatre, Cornwall, ON

REASON #7 LIVE ENTERTAINMENT

Cornwall has many, many venues that offer various genres of quality live entertainment. The Port Theatre has ongoing cover bands, tribute bands and shows.  The Civic Center has had some big names such as Blue Rodeo and Great Big Sea and continues to offer Musical entertainment and sporting events.  The Band Shell has had April Wine & Burton Cummings and continues to offer local bands and visiting bands an excellent venue to entertain on the waterfront. Aultsville Hall has a huge range of entertainment from orchestras to comedians. Many local bars have live bands to play on weekends.

Boxing matches are also becoming a popular spectator sport in

Eagles Tribute ticket, Port Theatre Cornwall, ON

Eagles Tribute Port Theatre, Cornwall, ON

Cornwall.  Several local companies put on entertaining musicals and dramas.  In Morrisburg, the Upper Canada Playhouse offers professional comedies in an intimate setting.  Since Ottawa & Montreal are only an hour away, you can also attend larger shows and music festivals at any time.

If you are interested in relocating to Cornwall and Area in Ontario, I’d be happy to look at your mortgage options with you. www.jmacdonald.ca

To learn more about our live entertainment in Cornwall, ON, try out these local websites: https://theporttheatre.com/ or http://www.aultsvilletheatre.com/

#lovecornwall #cornwallmortgage #mortgagebroker

Aultsville Hall, Cornwall, ON

Aultsville Hall, Cornwall, ON

 

17 Mar

21 REASONS WHY WE LOVE CORNWALL AND AREA – REASON #6

General

Posted by: Jenni MacDonald

Why Do We Love To Live in Cornwall and Area?

Century 21 Agent Mike VanderMeer and I have compiled a list of 21 reasons why we love to live in Cornwall, ON

REASON #6 – A GREAT PLACE TO RETIRE!

IN 2018, CORNWALL PLACED NUMBER 7 IN THE TOP TEN PLACES TO RETIRE IN ONTARIO in MoneySense.

Top 10 Best Places to Retire in Canada 2018

Cornwall Community Hospital

Cornwall Community Hospital

Our favorable ranking is based on our weather, health care access, crime rates, and the cost of owning property. Consider that a property in Oakville costing $850,000 can be purchased in Cornwall for about $250,000. That certainly builds up the nest egg for retirement living.

With approximately 120 days per year with a temperature above 20°C, our climate makes for a very comfortable place to live.  “Similar to most of southern Ontario, Cornwall has a humid continental climate (Köppen Dfa/Dfb) with cold, snowy winters and warm, humid summers. ” https://en.wikipedia.org/wiki/Cornwall,_Ontario#Climate

With our modern hospital with close to 400 beds and around 1,000 healthcare professionals, medical services are close at hand.  In addition, we have over 80 Doctors and Nurse Practitioners and more than 25 dentists in Cornwall. Several Nursing Homes and Senior residences are located in Cornwall and Area.  Since we are the designated delivery agent for Land Ambulance Service our citizens can rest assured that fast and efficient care is in place.

With public transit, taxi, and handicap transit paired with our excellent bike path system and very low traffic levels, getting around is a breeze!

If you are interested in relocating to Cornwall and Area in Ontario, I’d be happy to look at your mortgage options with you. www.jmacdonald.ca

To learn more about our great City, try out these local websites: www.choosecornwall.ca or www.cornwalltourism.com.

#lovecornwall #cornwallmortgage #mortgagebroker

15 Mar

21 REASONS WE LOVE CORNWALL AND AREA – REASON #5 HOUSING

General

Posted by: Jenni MacDonald

Why Do We Love To Live in Cornwall and Area

A local Century 21 estate agent, Mike VanderMeer, and I have compiled a list of the reasons we love Cornwall, Ontario. Over the next 21 days, I will be posting those reasons. We would love to hear the reasons you love to live here too!

House in Cornwall, Ontario

House in Cornwall, Ontario

REASON #5  AFFORDABLE HOUSING

We are one of the least expensive places in Ontario to buy a home. We have a wide variety of homes available – waterfront, condos, hobby farms, executive homes, starter homes just to name a few.  Located in the middle of the three united Counties of Stormont, Dundas and Glengarry, Cornwall has many surrounding towns & villages.  Many of these villages have historical significance.  Some were even newly created with the flooding of the Seaway in the 1950s. For those who like the smaller town feel while being close to major amenities, the many towns & villages are there for you.  You can also choose a country home or farm for privacy and space.

If you are interested in relocating to Cornwall and Area in Ontario, I’d be happy to look at your mortgage options with you at www.jmacdonald.ca

To learn more about the Cornwall Housing Market feel free to visit http://www.century21.ca/shieldrealty

#lovecornwall #cornwallmortgage #mortgagebroker

 

7 Mar

21 REASONS WHY WE LOVE CORNWALL AND AREA – REASON #4

General

Posted by: Jenni MacDonald

21 REASONS WHY WE LOVE CORNWALL AND AREA – REASON #4

Why Do We Love To Live in Cornwall and Area?

A local Century 21 estate agent, Mike VanderMeer, and I have compiled a list of the reasons we love Cornwall, Ontario. Over the next 21 days, I will be posting those reasons.

Long Sault Parkway, Cornwall, ON

Long Sault Parkway, Cornwall, ON

REASON #4 PARKS, CAMPGROUNDS, BEACHES and MARINAS – We have the Long Sault Parkway, Guindon Park, Upper Canada Village, Upper Canada Migratory Bird Sanctuary, Lamoureux Park, Crysler Park Marina, Charlotenburgh Park, and Lost Villages Park as a few examples.  We even have an off leash dog park so our canine friends can enjoy our great outdoors!  There are many boat launch areas so boating enthusiasts can enjoy hours on the river.  There are many ways to enjoy the natural beauty that surrounds Cornwall and area.  If you don’t own your own boat, there are several scenic boat tours and boat rentals available.

 

If you are interested in relocating to the Cornwall Area in Ontario, I’d be happy to look at your mortgage options with you. Just go to www.jmacdonald.ca or call 613-551-0639.

To learn more about our great camping and other activities around Cornwall and Area in Ontario, try out these websites: http://www.cornwalltourism.com/explore/attractions/ and http://www.campscout.com/town/ON0052/ 

#lovecornwall #cornwallmortgage #mortgagebroker

4 Mar

21 REASONS WHY WE LOVE CORNWALL AND AREA – REASON #3

General

Posted by: Jenni MacDonald

Why Do We Love To Live in Cornwall and Area?

A local Century 21 estate agent, Mike VanderMeer, and I have compiled a list of the reasons we love Cornwall, Ontario. Over the next 21 days, I will be posting those reasons.  We would love to hear the reasons you love to live here too!

Waterfront trail with boat in Cornwall, Ontario

Waterfront trail with boat in Cornwall, Ontario

REASON #3 –  WATERFRONT TRAIL and BIKE PATHS

Cornwall has one of the nicest bicycle paths in the province. There are approximately 40 kms of trails running thoughout the city and from Lancaster to Morrisburg.  The trails run along the remains of the old Canal and the St. Lawrence River.  You can enjoy biking, running or walking on this beautiful trail.  It is easy to get almost anywhere in the City by bicycle.  What a great asset to Cornwall and Area!

If you are interested in relocating to Cornwall and Area in Ontario, I’d be happy to look at your mortgage options with you.

To learn more about our trails, please go to http://www.ontariotrails.on.ca/trails/view/cornwall—waterfront-trail.

#lovecornwall #cornwallmortgage #mortgagebroker

2 Mar

21 REASONS WHY WE LOVE CORNWALL AND AREA – REASON #2

General

Posted by: Jenni MacDonald

Why Do We Love Cornwall?

A local Century 21 estate agent, Mike VanderMeer, and I have compiled a list of the reasons we love Cornwall, Ontario. Over the next 21 days, I will be posting those reasons. We would love to hear the reasons you love to live here too!

Cornwall Street

Quiet Street in Cornwall, Ontario

#2 TRAFFIC (Or Lack Thereof) – Our “rush hour” only lasts about 15 minutes.  Plus, you can easily get from one end of the city to the other in about 10 minutes.  And, just in case it ever gets really busy, we have our own Traffic Circle!

If you are interested in relocating to Cornwall and Area in Ontario, I’d be happy to look at your mortgage options with you.

To learn more about our great City, try out these local websites: www.choosecornwall.ca or www.cornwalltourism.com.

#lovecornwall #cornwallmortgage #mortgagebroker

 

 

 

27 Feb

21 REASONS WE LOVE CORNWALL & AREA REASON #1

General

Posted by: Jenni MacDonald

Why Do We Love Cornwall, Ontario?

Tell Us Why Someone Want to Live in Cornwall, Ontario?

A local Century 21 estate agent, Mike VanderMeer, and I have compiled a list of the reasons we love Cornwall, Ontario.  Over the next 21 days, I will be posting those reasons.  We would love to hear the reasons you love to live here too!

REASON #1

LOCATION, LOCATION, LOCATION – Montreal & Ottawa are only 1 hour away. We are on the border of the USA and can get to Lake Placid in about 90 minutes. We are situated on the St. Lawrence River.  To the south you can see the Adirondack Mountains and with a short drive to the north east you can visit the Laurentian Mountains. It just doesn’t get any better than this.

If you are interested in relocating to Cornwall and Area in Ontario, I’d be happy to look at your mortgage options with you.

To learn more about our great City, try out these local websites: www.choosecornwall.ca or www.cornwalltourism.com.

#lovecornwall #cornwallmortgage #mortgagebroker

2 Oct

Rate Holds

General

Posted by: Jenni MacDonald

You May Have Heard of the Term “Rate Holds”.

Lenders offer rate holds to potential clients purchasing a new property who need a mortgage.  Rate holds are not used for refinancing a mortgage or transferring it from one lender to another.

Lenders will typically hold a rate for 120 days.  However, some lenders will hold the rate for a shorter period of time.  Each lender offers different options and a Mortgage Broker can walk you through the different options that are best for you.

What Does a Rate Hold Mean

A rate hold does not commit you to working with that particular lender.  It does not influence your chances of receiving an approval down the road.  When lenders offer a rate hold, they do not collect your documents or confirm that you will qualify for the amount of mortgage requested.  It simply hold the rate.  If a lender or Mortgage Broker collects and verifies your documents it is called a “Pre-Approval”.

The Way Rate Holds Work

  1. Mortgage Broker submits your application to a lender for a fixed interest rate of 3.59% for 5-years with a 120 day rate hold.
  2. 30 days later, that interest rate moves to 3.69%. As long as your mortgage closes in the next 90 days (within the 120 day window from when you got your rate hold), you can keep your 3.59% rate.
  3. If rates go down, not up, you can also take advantage of the lower interest rate.
  4. Once the 120 days expires, you can submit another rate hold.  It will be for the interest rate on the day of the new submission.

Best Choices

In my opinion, there is more value in a complete pre-approval in which a Mortgage Broker will verify all of your documents and also get you a rate hold.

If you have any questions, contact me at Dominion Lending Centres The Mortgage Source.

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4 Jul

Properties With A Second Unit

General

Posted by: Jenni MacDonald

Properties with a Second Unit

Have a look through many MLS listings and you will see terms like: “Secondary Suites”, “Basement Apartments”, “Accessory Apartments”, “Granny Flats”, “In-Law Suites”, “Granny Suites” or “Nanny Suites”.    Whether a buyer is looking for a unit for an aging parent to stay nearby or to make some extra money to help make the mortgage payments or cash flow, a Second Unit can be a great solution.

What are Second Units?

Second units are self-contained residential units with a private kitchen, bathroom facilities and sleeping areas within a single family or semi-detached home.

Benefits of Second Units

In addition to increasing the amount of affordable rental accommodation in an area, second units benefit the wider community in a number of other ways. They:

  • provide homeowners with an opportunity to earn additional income to help meet the costs of home ownership
  • support changing demographics by providing more housing options for extended families or elderly parents, or for a live-in caregiver
  • maximize densities and help create income-integrated communities, which support and enhance public transit, local businesses and the local labour markets, as well as make more efficient use of infrastructure
  • create jobs in the construction/renovation industry.

The Canadian Mortgage and Housing Corporation (CMHC) recently announced that in order to facilitate affordable housing choices for Canadians, it would be making some policy revisions on how they consider income derived from secondary suites. Considering the last 4 years have been nothing but tightening of rules, making it harder for Canadians to secure mortgage financing, this news is certainly welcome!

Cautions about Purchasing a Property with a Second Unit

  1. Regardless of where they are located, second units must comply with health, safety and municipal property standards, including but not limited to, the Ontario Building Code, the Fire Code and municipal property standards by-laws.  In addition, a building permit may be required to establish a second unit depending on whether alterations to the house are needed.  As such, buyers considering purchasing a property with a Second Unit or homeowners considering establishing a second unit should contact their municipality prior to doing so.
  2. In many cases, illegally-operated secondary suites also go unreported to insurance providers. If a Secondary Unit is not reported to your insurance provider you run the risk of not being covered in the event of a loss.
  3. In addition, your lawyer will be required to order a work order search since you are technically purchasing a multi-unit residential property. This results in a longer timeline, a few more dollars and, possibly, some setbacks to deal with in order to close on the anticipated closing day.
  4. Be sure to speak to your accountant if you will be receiving rent from the second unit. There are several tax implications for receiving rental income not the least of which is having to claim Capital Gains on the sale of your personal home.
  5. A final word of caution, if one (or both) of the units are currently tenanted, be sure to ask for vacant possession of the unit that you will be living in.  If the tenant in the extra unit is staying, be sure to ask for a copy of the lease to make sure your rights are protected.  If the tenant in the second unit is also leaving, make sure you require vacant possession of that unit as well.  Banks will no longer allow the flexibility of a tenant to “move out in 60 days” in order to qualify for a residential mortgage with 5% down payment.  On closing day, the discovery of a “Rent Adjustment” by your lawyer will immediately cancel your mortgage if the lender was not aware that a tenant would be remaining in any of the units.

So What Does This Mean for You?

If you would like to discuss how much mortgage you qualify for and look at different scenarios of qualifying with a secondary suite rental income, I would love to have an in depth look at your finances and provide you with mortgage options!

25 Apr

The 5 Benefits of CHIP Reverse Mortgages

General

Posted by: Jenni MacDonald

One  product.  Many  benefits.  CHIP Reverse Mortgage by HomEquity Bank.

Designed  to  fit  into  any  financial  plan,  the  CHIP  Reverse  Mortgage  offers  many  benefits and  opportunities  that  make  it the  right  solution  for  so many  older  Canadians  so  they  can  live  the  lifestyle  they’ve  worked  so  hard  for.

1.  Maintain complete ownership of your home.

2.  No  regular  monthly  mortgage  payments if you choose not to.

3.  Tax-free cash

4.  Access to up to 55% of the equity of your home

5.  No medical checks are required.

If  you  would  like to  learn  more,  please  contact  me  at jmacdonald@dominionlending.ca or 613-551-0639.