Buying a home can be overwhelming, but it doesn’t have to. Let us show you how with our 3
Stress-Free Mortgage Guarantees.
Buying a home can be overwhelming, but it doesn’t have to.
Let us show you how with our 3
Stress-Free Mortgage Guarantees.
Stress-Free
Pre-Approval Guarantee
Shop with confidence knowing that once we've looked at your application and given you the green light, if you're declined for any reason other than the suitability of the subject property, we'll give you $500.
We confirm that:
We have viewed and pre-qualified all income, credit, and down-payment/equity documents pertaining to your mortgage application. The application now solely hinges on the quality and appraisal of the property being financed.
We have viewed and pre-qualified all income, credit, and down-payment/equity documents pertaining to your mortgage application. The application now solely hinges on the quality and appraisal of the property being financed.
We will give you $500 if your mortgage application is denied for any reason other than the quality and price of the property.
You confirm that:
We have not guaranteed any terms of your approval.
You will not make any changes to your employment, credit, or financial situation while we’re in the process
of arranging mortgage financing on your behalf.
If you chose to not move forward with the transaction as the result of the home inspection, the value of the appraisal, or for any reason that does not include us obtaining your financing, we will not pay you the $500.
If you chose to proceed with financing any place other than arranged by Silverman Mortgage Group, we will not pay you the $500.
All reimbursements will take place within 30 days of the final lender decline.
You will not make any changes to your employment, credit, or financial situation while we’re in the process
of arranging mortgage financing on your behalf.
If you chose to not move forward with the transaction as the result of the home inspection, the value of the appraisal, or for any reason that does not include us obtaining your financing, we will not pay you the $500.
If you chose to proceed with financing any place other than arranged by Silverman Mortgage Group, we will not pay you the $500.
All reimbursements will take place within 30 days of the final lender decline.
Stress-Free
Home
Inspection Guarantee
Once given the green light, if you order a home inspection and your application is declined for any reason other than the suitability of the subject property, we'll reimburse you the full cost of the inspection.
We confirm that:
We have viewed and pre-qualified all income, credit, and down-payment/equity documents pertaining to your mortgage application. The application now solely hinges on the quality and appraisal of the property being financed.
If you proceed with a home inspection and your mortgage application is denied for any reason other than the quality or appraisal of the property, we will refund the cost of the home inspection to you.
You confirm that:
We have not guaranteed any terms of your approval.
You will not make any changes to your employment, credit, or financial situation while we’re in the process of arranging
mortgage financing on your behalf.
if you chose to not move forward with the transaction as the result of the home inspection, the value of the appraisal, or for any reason that does not include us obtaining your financing, we will not reimburse the cost of the home inspection.
If you chose to proceed with financing any place other than arranged by Silverman Mortgage Group, we will not
reimburse the cost of the home inspection.
All reimbursements will take place within 30 days of the final lender decline.
Stress-Free
Variable Rate Guarantee
If at any time you want to lock in your variable rate mortgage into a fixed rate, you won't be held to a single lender, we guarantee you'll get the best fixed rate on the market, even if we have to pay your penalty to switch lenders.
We confirm that:
If you decide to go with a variable rate mortgage, we will monitor your mortgage rate for you! Whenever we see a change in the prime rate, you’ll be the first to know. If market conditions change and we believe it’s a good time to lock-in to a fixed rate, we will let you know.
If you decide to lock-in your mortgage to a fixed rate, we will guarantee not only the best rate at your current lender but the best rates on the market.
We will pay the penalty to break your existing mortgage so you can switch to a better fixed rate product.
This offer is available to all new Silverman Mortgage Clients.
For a
Stress-Free
Mortgage.
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MORTGAGE ARTICLES
Chances are if the title of this article piqued your interest enough to get you here, your family is probably growing. Congratulations! If you’ve thought now is the time to find a new property to accommodate your growing family, but you’re unsure how your parental leave will impact your ability to get a mortgage, you’ve come to the right place! Here’s how it works. When you work with an independent mortgage professional, it won’t be a problem to qualify your income on a mortgage application while on parental leave, as long as you have documentation proving that you have guaranteed employment when you return to work. A word of caution, if you walk into your local bank to look for a mortgage and you disclose that you’re currently collecting parental leave, there’s a chance they’ll only allow you to use that income to qualify. This reduction in income isn’t ideal because at 55% of your previous income up to $595/week, you won’t be eligible to borrow as much, limiting your options. The advantage of working with an independent mortgage professional is choice. You have a choice between lenders and mortgage products, including lenders who use 100% of your return-to-work income. To qualify, you’ll need an employment letter from your current employer that states the following: Your employer’s name preferably on the company letterhead Your position Your initial start date to ensure you’ve passed any probationary period Your scheduled return to work date Your guaranteed salary For a lender to feel confident about your ability to cover your mortgage payments, they want to see that you have a position waiting for you once your parental leave is over. You might also be required to provide a history of your income for the past couple of years, but that is typical of mortgage financing. Whether you intend to return to work after your parental leave is over or not, once the mortgage is in place, what you decide to do is entirely up to you. Mortgage qualification requires only that you have a position waiting for you. If you have any questions about this or anything else mortgage-related, please connect anytime. It would be a pleasure to work with you.
Dreaming of owning your first home? A First Home Savings Account (FHSA) could be your key to turning that dream into a reality. Let's dive into what an FHSA is, how it works, and why it's a smart investment for first-time homebuyers. What is an FHSA? An FHSA is a registered plan designed to help you save for your first home taxfree. If you're at least 18 years old, have a Social Insurance Number (SIN), and have not owned a home where you lived for the past four calendar years, you may be eligible to open an FHSA. Reasons to Invest in an FHSA: Save up to $40,000 for your first home. Contribute tax-free for up to 15 years. Carry over unused contribution room to the next year, up to a maximum of $8,000. Potentially reduce your tax bill and carry forward undeducted contributions indefinitely. Pay no taxes on investment earnings. Complements the Home Buyers’ Plan (HBP). How Does an FHSA Work? Open Your FHSA: Start investing tax-free by opening your FHSA. Contribute Often: Make tax-deductible contributions of up to $8,000 annually to help your money grow faster. Withdraw for Your Home: Make a tax-free withdrawal at any time to purchase your first home. Benefits of an FHSA: Tax-Deductible Contributions: Contribute up to $8,000 annually, reducing your taxable income. Tax-Free Earnings: Enjoy tax-free growth on your investments within the FHSA. No Taxes on Withdrawals: Pay $0 in taxes on withdrawals used to buy a qualifying home. Numbers to Know: $8,000: Annual tax-deductible FHSA contribution limit. $40,000: Lifetime FHSA contribution limit. $0: Taxes on FHSA earnings when used for a qualifying home purchase. In Conclusion A First Home Savings Account (FHSA) is a powerful tool for first-time homebuyers, offering tax benefits and a structured approach to saving for homeownership. By taking advantage of an FHSA, you can accelerate your journey towards owning your first home and make your dream a reality sooner than you think.