MortgageEase Unfiltered: Beyond Rates & Real Estate

In this episode of MortgageEase Unfiltered, Nicole Farrugia discusses the recent changes in mortgage rules affecting first-time home buyers in Canada. She explains the concept of insured mortgages, the implications of the new cap on insured mortgages, and the introduction of a 30-year amortization period specifically for first-time buyers. Nicole emphasizes the benefits of these changes, including increased purchasing power and improved cash flow, while also addressing the importance of understanding mortgage premiums and strategies for managing payments effectively.

Takeaways
  • These new rules are particularly relevant for first-time home buyers.
  • Insured mortgages apply to those putting down less than 20%.
  • The cap for insured mortgages has increased to 1.5 million dollars.
  • 30-year amortization is now available for first-time home buyers.
  • This change can significantly increase purchasing power.
  • Monthly payments will be lower with a 30-year amortization.
  • There is an increased premium for the 30-year amortization option.
  • Utilizing prepayment privileges can help pay down the mortgage faster.
  • It's important to consult with a financial professional for clarity.
  • Having a lower monthly obligation can provide financial flexibility.

Sound Bites
"Bracing yourself for new rules."
"What is an insured mortgage?"
"It helps increase your purchasing power."









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Podcast Produced and Distributed by AgentInnovationStudios.com

Creators and Guests

Host
Nicole Farrugia
Hi, I’m Nicole, the creator of the MortgageEase Method. I started this venture with a simple yet powerful vision in mind – to revolutionize the way we approach mortgages and financial education. Inspiration Behind the MortgageEase Method: What inspired the creation of MortgageEase? It was my deep desire for freedom – the freedom to run my business my way, prioritize people, and lead with education and sincerity. I identified an opportunity to break away from the norm and establish a space where individuality and genuine care come first.

What is MortgageEase Unfiltered: Beyond Rates & Real Estate?

MortgageEase Unfiltered: Beyond Rates and Real Estate is the podcast that goes beyond numbers and jargon, tackling the real issues around homeownership, mortgages, and personal finance. Hosted by Nicole, this show digs into the latest mortgage trends, offers down-to-earth financial advice, and explores the ups and downs of real life—from buying your first home to managing the curveballs life throws your way. With expert interviews and practical tips, MortgageEase Unfiltered is your go-to source for understanding how to navigate both the mortgage world and the challenges that come with it. Tune in, get informed, and join the conversation!