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  • What is Moneytime.ca | About | 1.866.257.0158
    here to Apply Online Get approved in as fast as 24 hours X About Us Jim Thornton RMA Call Today 1 866 257 0158 Buying Pre Approvals First Time Buyers Repeat Buyers Purchase Plus Improvements Self Employed Buyers No Money Down Gifted Down Payment Jumbo Mortgages Million Plus Refinancing Debt Consolidation Equity Take Out Lower Rate Lower Payment Renewals Rentals Single Family Homes Duplex 2 units Multi unit 3 4 or 5 units Mixed use Multi unit Residential Rentals 5 units Blog About What is Moneytime ca About Jim Thornton What is Moneytime ca Some of the things we do Pre Approvals Purchase a Home Renewals Home Equity Line of Credit Home Equity Loan Second Mortgage Refinance Self Employed Cash Back Mortgages Debt Consolidation No Down Payment Impaired or Bad Credit Moneytime ca is the best Canadian website which connects you to some of Canada s largest mortgage lenders including banks trust companies insurance companies and mortgage companies As a member of the RMA network of mortgage brokers and agents we have access to the best mortgages best mortgage products and best mortgage rates available in the market today What do we do As RMA specializes in assisting clients obtain mortgages Whether you are looking for a new home and want to get pre approved or you are looking to refinance to help get rid of debt Moneytime ca is the answer How much do we charge One of the best things about contacting an agent with Real Mortgage Associates from Moneytime ca we don t charge broker fees to qualified borrowers when the lender pays a placement fee So you get professional unbiased advice for FREE Our commitment to you As RMA mortgage agents we aren t employees of any ONE bank in fact we aren t employees for

    Original URL path: http://www.moneytime.ca/about/what-is-moneytime-ca (2014-10-22)
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  • All the banks want to do is sell to Clients. Ex-banker spills the beans! | May | 2014 | Blog | 1.866.257.0158
    in as fast as 24 hours X About Us Jim Thornton RMA Call Today 1 866 257 0158 Buying Pre Approvals First Time Buyers Repeat Buyers Purchase Plus Improvements Self Employed Buyers No Money Down Gifted Down Payment Jumbo Mortgages Million Plus Refinancing Debt Consolidation Equity Take Out Lower Rate Lower Payment Renewals Rentals Single Family Homes Duplex 2 units Multi unit 3 4 or 5 units Mixed use Multi unit Residential Rentals 5 units Blog About What is Moneytime ca About Jim Thornton All the banks want to do is sell to Clients Ex banker spills the beans Having been in the mortgage industry for a decade one thing that I am always trying to do is get my clients to understand that the bank is a profit machine The banker is an employee of the bank and therefore told to make money for the bank As employees of the bank they are held to a different in my opinion lower standard than mortgage brokers I just recently read an article where an ex banker tells exactly what it was like to work at the bank The clients needs come second to that of the banks and if the

    Original URL path: http://www.moneytime.ca/blog/2014/may/clients-no-more-than-someone-to-sell-to-ex-banker-spills-the-beans (2014-10-22)
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  • The benefits of cash back mortgages | July | 2012 | Blog | 1.866.257.0158
    did not change the rules at that time regarding cash back mortgages and those programs still exist today Cash back mortgages are a fantasic way for anyone to buy a home Here s how it works 5 Cash back mortgages can be used for the down payment requirements Mortgage financing for 100 of the purchase price is no longer available however with a 5 cash back mortgage you can use the money received on closing to go towards the down payment requirements for the purchase This means that essentially you can still buy a home with no money down Although you can use the proceeds of a cash back mortgage for whatever you want I do not recommend getting a cash back mortgage unless you want to purchase a home with no money down The 5 cash back that you get from the lender on closing is issued on an INTEREST FREE basis and you NEVER have to pay it back to the bank provided you don t break your mortgage prior to your renewal maturity date Because this money is interest free your actually mortgage will be at posted rates instead of discounted rates At first glance this seems like a bad idea For example let s say the current fully discounted rate is 3 39 and the posted rate is 5 24 for a 5 year term Why sign on to 5 24 when you can get 3 39 right Wrong If you consider how long it will take you to save the 5 down payment and price appreciation in the housing market it is actually a great deal 5 cash back no money down is better than waiting to put a 5 down payment 5 Cash Back Mortgage vs Saving 5 down payment Saving 5 down payment

    Original URL path: http://www.moneytime.ca/blog/2012/july/cash-back-mortgages (2014-10-22)
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  • The ultimate advantages of working with a mortgage broker in Canada | Archive | Blog | 1.866.257.0158
    many advantages One of Canada s largest and fastest growing mortgage brokerages is RMA We have grown our brokerage by providing a wider and more attractive range of mortgage products superior convenience and expert advice As a mortgage broker in Canada we can help you secure the best home loan available Most importantly because your broker serves as your advocate your interests will be protected Mortgage Brokers in Canada offer more products and options Unlike a bank a mortgage brokerage works with as many as 35 different lenders giving you access to hundreds of mortgage products This breadth of choices allows you to select the product that is most appropriate for your circumstances Whether specific terms or rates are of greatest importance or the structure of the loan product itself a mortgage broker in Canada is able to help you decipher the options and select the most beneficial product The market in Ontario is complex and cluttered with options having an expert who can serve as both a teacher and advocate is a significant advantage Mortgage Brokers in Canada offers greater convenience and flexibility While bank representatives are subject to banker s hours and often transfer within the organization a mortgage broker in Canada can serve as a single point of contact Mortgage brokerages tends to have extended hours offer a degree of mobility many brokers and agents will meet you in the comfort of your own home or if you prefer in their office and have a stable staff that you can continue to rely on for many years Furthermore because a broker s interest is aligned with yours he or she will be anxious to remain involved and see you through the process A bank employee is paid by the bank regardless of whether your business is carefully

    Original URL path: http://www.moneytime.ca/blog/archive/the-ultimate-advantages-of-working-with-a-mortgage-broker-in-canada (2014-10-22)
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  • The top 10 secrets that banks don't want you to know | Archive | Blog | 1.866.257.0158
    as a result Those who work with a mortgage broker understand that having options is more important than the interest rate you receive Rate is important but sometimes it is better to take a slightly higher rate if it means getting a better mortgage 2 New customers have it made with banks With the way the system works they know that it becomes a huge hassle to leave one bank for another They know that once they have you hooked you are likely to stay with them out of convenience although many people threaten to leave it really doesn t mean much because they know most people won t leave For this reason banks are fond of offering great incentives to new buyers while neglecting their old trusty customers 3 Though banks don t necessarily want you to know this when you work with a mortgage broker in Canada you ll be instructed not to sign the renewal form that s sent out by the banks Since most people just blindly sign this the bank does not offer its best available rate through that form Instead a better option is to contact a broker and let them re negotiate for you upon renewal Quite ofter switching banks on renewal will result in a better rate and better product 4 Though banks speak a lot of loyalty they are not nearly as kind to their customers as a mortgage broker is They will speak a good game but the moment you cease the be profitable the banker will drop you like a hot potatoe 5 Since banks are money making machines they are naturally very greedy They have no emotional attachment to the customer this means that they expect you to be good customers and loyal to them but they have no desire to show that same loyalty back to you 6 Just because you have a large mortgage and a couple of chequing accounts with a bank doesn t mean they will show you any extra loyalty While many people think that getting a 300 000 mortgage through a bank will earn some loyalty from that bank they quickly come to realize that it is just a transaction Mortgage brokers in Canada in particular are very appreciative they treat every client with the same respect because they are all important to them 7 The bank and banker that you use is not your friend They have a job that is different from that of a mortgage broker They are in business to make the BANK money so you will play by the same rules as the average Joe no matter how long you ve been with a bank Mortgage brokers on the other hand are in business for themselves and are looking to establish long term relationships with you to help build a solid clientele that will provide them with many referrals 8 Variable rates make money for the bank there is just no other way to put it People

    Original URL path: http://www.moneytime.ca/blog/archive/the-top-10-secrets-that-banks-don-t-want-you-to-know (2014-10-22)
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  • Blog | Page 3 | 1.866.257.0158
    to find banks and lenders advertising that they have the best mortgage rates Even though it isn t possible for all banks to have the best mortgage rate it just doesn t seem fair that new borrowers are getting such good rates when there are those of us that signed a year or two ago at a higher mortgage rate than is available now As a result these consumers often feel like kicking themselves or feeling sorry for themselves but there are options available to consumers that can not only help them save money on their mortgage but also add more cash to their pockets at the end of every month By using a mortgage broker at RMA you can not only discuss the steps you need to take to get a lower mortgage rate you can also rest assured that our mortgage brokers and agents are fully qualified to get you the best mortgage possible Read more Purchase a home with 5 down and still get fully discounted rates OAC Buying a home can be a dream for some while others it is a dream come true The Canadian goverment has stipulated that when purchasing a home the buyers need to put a minimum of 5 down based off the purchase price of the home This first 5 is always the toughest to save because it seems like it is a never ending task as the goal gets closer and closer the prices of house usually go up and up This means that as you are saving for that dream house you have to save more and more because the purchase price by the time you go to buy the house is higher than when you started saving First time home buyers especially find it difficult because they have

    Original URL path: http://www.moneytime.ca/Page-3 (2014-10-22)
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  • Blog | Page 4 | 1.866.257.0158
    Mixed use Multi unit Residential Rentals 5 units Blog About What is Moneytime ca About Jim Thornton First Time Buyer A feeling like no other Buying your first home is a dream come true Debt Consolidation It s not just about money Being debt free means that you have the freedom to do what you want when you want to do it Purchase a home with 20 or more down When someone is purchasing a home there are a couple of choices they have with regards to the down payment they put towards the purchase The down payment is basically the amount of equity or money that the buyer is willing to put towards the purchase of a home When you purchase a home the Bank of Canada states that banks trust companies and other lenders are not allowed to lend on a property if Read more 4 reasons to use a mortgage broker when purchasing a home When it comes to purchasing a home there are many ways to get the job done For a first time home buyer using a mortgage broker is an excellent idea for a host of different reasons Purchasing a home is a difficult process but it doesn t have to be completely overwhelming There are people out there who can help you make the process as seamless and as painless as possible so you d be smart to use those resources when making your purchase A mortgage broken can be one of those individuals so as a first time home buyer you should be looking for the best possible one Here are reasons to use a mortgage broker when purchasing a home Read more Purchase a home with no money down When the credit crunch hit one of the things the Canadian governement

    Original URL path: http://www.moneytime.ca/Page-4 (2014-10-22)
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  • 2014 | Blog | Table | 1.866.257.0158
    with various tools and using different techniques to help build wealth for myself and my clients Continue Reading About Real Mortgage Associates Real Mortgage Associates Lic 10464 is one of Canada s largest and fastest growing mortgage broker networks Real Mortgage Associates works with multiple Canadian mortgage lenders banks and insurance companies Head Office 578 Upper James Street Hamilton ON L9C 2Y6 Click here to Apply Online Get approved in as fast as 24 hours X About Us Jim Thornton RMA Call Today 1 866 257 0158 Buying Pre Approvals First Time Buyers Repeat Buyers Purchase Plus Improvements Self Employed Buyers No Money Down Gifted Down Payment Jumbo Mortgages Million Plus Refinancing Debt Consolidation Equity Take Out Lower Rate Lower Payment Renewals Rentals Single Family Homes Duplex 2 units Multi unit 3 4 or 5 units Mixed use Multi unit Residential Rentals 5 units Blog About What is Moneytime ca About Jim Thornton All the banks want to do is sell to Clients Ex banker spills the beans Having been in the mortgage industry for a decade one thing that I am always trying to do is get my clients to understand that the bank is a profit machine The

    Original URL path: http://www.moneytime.ca/table/blog/2014/ (2014-10-22)
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