Son Of A Broker » Lifestyle

Toronto’s Own

chris — Tue, 18 May 2010 15:27:40 +0000

My colleague Mark Savel is an interesting guy. Ask him what he does and he will say “real estate”. Ask him who he is and he’ll respond “Toronto’s own”. Mark loves our fair city of Toronto. His blog is not only an original source of freshly released information about Toronto’s newest and hottest real estate developments, it’s also a place where he shares his passion for the urban. Recently he covered the Banksy phenomenon in Toronto. In other posts he helps promote local community events and fundraisers. Mark also shows us the city through his eyes with the posting of a daily photo on his Posterous.com site.

Aside from all the contributions he makes to the online community through his participation in blogs, twitter, daily photos and event listings he is a value providing real estate agent who knows the city and puts the same amount of passion and detail into working with his clients. If you are thinking down town condo. Think “Toronto’s Own” Mark Savel.

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Understand Your Credit Score

chris — Thu, 13 May 2010 16:17:51 +0000

If you are applying for a mortgage or any other type of credit, a lender will always want to see your credit score. Having a strong credit score is so important to a mortgage application. When I sit down with clients and it comes to checking credit, there is often a sense of uneasiness because people simply don’t understand what is contained in a credit report. Here is a little breakdown to help you understand what a credit bureau is.

In Canada there are two major credit reporting agencies, Equifax and TransUnion. It is their role to gather a financial history about you that includes information about your credit and bank accounts, public records that reveal bankruptcies or court judgments, and any debt that went to a collection agency.

This information is used to generate a score between 300 and 900 which lenders then use to determine whether or not to extend credit to you. The higher your score the lower your risk.

Its a good idea to check your credit score at least once a year to ensure that your information is correct because mistakes do happen and it can be difficult to have them corrected. You can visit Equifax.ca or TransUnion.ca to learn more. If you are thinking of applying for a mortgage in the next 12 months and you are concerned about your credit score give me a call to discuss and we can look at your credit together to determine how to improve your score.

Maximize the Benefits of Your Credit Card

chris — Thu, 06 May 2010 16:15:42 +0000

One of the keys to successfully qualifying for a mortgage or any other type of credit is learning how to use your credit card. Credit cards can be a very useful tool when used properly but unfortunately credit cards don’t come with instructions.

When I work with first time home buyers the most common blunder that I see is someone who got a credit card when they were in University or College went out on a shopping spree then remembered that they didn’t have any income to pay for it all and defaulted on the card. The sins of yesterday always have a way of coming back to haunt you and that little mistake 10 years ago can make it very difficult for you to get financing. Here are some simple tips on how to use your credit card to maximize its benefits:

Limit your number of cards. It’s easier to keep track of expenses, and reduces the chance of a missed payment.

Transfer credit card debt. It’s a good idea to always pay your credit cards in full each month. If you are carrying a balance, a personal line of credit offers a much better interest rate.

Don’t spend what you don’t have. Use the convenience of a credit card only knowing the money is in the bank.

Be diligent with payments. Never pay the minimum only. Your original purchase could end up costing you twice as much.

Avoid missed or late payments. You could incur additional fees and a black mark on your credit rating.

Four Years. Go.

chris — Wed, 21 Apr 2010 02:42:28 +0000

This past weekend the Mortgage Broker (Arnold Molder) took his son (Christopher Molder) to Boston to attend The Global Sufficiency Summit. It was truly an eye opening and unforgettable experience which I will be blogging and talking more about over the coming weeks and months. There is so much that we would like to share about the concept of sufficiency and how it relates to personal finance and mortgage financing.

At the conference we were introduced to the “FOUR YEARS. GO.” campaign. FOUR YEARS. GO. is a global communication and awareness campaign to energize a worldwide movement of imagination, enthusiasm and action to shift humanity to a sustainable, just and fulfilling path by 2014. Individuals, organizations and businesses are coming together under this campaign to make a pledge to achieve by 2014. Stay tuned for our pledge here at Tridac -The Mortgage Centre. If you are learning about the campaign for the first time, I invite you to visit www.fouryearsgo.org for more information.

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Watch the S.O.B hangloose- Sailing in Toronto Inner Harbour

chris — Fri, 09 Apr 2010 15:32:24 +0000

We all need to release somehow. When I find I have too many interest rates, bond yields, Bank of Canada economic reports, lender policy and guidelines on my mind there is nothing better than a sail. This year the sailing season couldn’t start soon enough as I spent the Easter weekend zipping around Toronto Island on my pal Ed Young’s Formula 18 catamaran. The F18 Nacra is a one of a kind multihull boat built for performance and racing but easy and fun to sail. Check out the video of us hanging from the trapeze, flying a hull.

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Monday Mortgage Minute March 8th Interest Rates

chris — Tue, 09 Mar 2010 03:05:32 +0000

Although bond yields rose last Friday as of Monday March 8th Toronto Mortgage Interest rates remain unchanged. Over the weekend some lenders have warned of the possibility of fixed rate mortgages increasing. This weekend I decided to deliver my Monday Mortgage Minute from the slopes of Mont Tremblant Quebec, however I am back in the office this week refreshed and recharged after a nice little ski vacation. If you would like to contact me please write or call 416.461.0204 ext 2.

Chris Molder – Son of A Broker

1 year fixed – 2.65%

3 year fixed – 3.35%

5 year fixed – 3.79%

3 year variable – Prime-.40% (1.85% effective rate)

5 year variable – Prime-.30% (1.95% effective rate)

RATE SPECIALS

5 year fixed – 3.69% (must close by April 26th 2010, purchase & refinance only)

NOTE: Rates are subject to change without warning at the lender’s discretion.

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Toronto Works For Haiti – Mortgage Services

chris — Thu, 04 Feb 2010 14:18:38 +0000

I have joined a group of Toronto volunteers who have committed themselves to offering their professional services in exchange for donations to the Haiti relief effort. www.TorontoWorksForHaiti.com Our group includes professionals and entrepreneurs offering a wide range of services all the way from Artists, to Japanese translation services, to Style Consultants and Social Media services.

Click here to view the embedded video.

I personal am committed to donating $200 from every mortgage that I arrange under this initiative to our goal of raising $5,000 by March 18th, 2010. Irrespective of the size or type of mortgage. Although a month has almost passed since the devastating earth quake in Haiti, and the main stream media has moved on to other stories, Haitians are still with out food and water and much needed assistance.

If you are in need of mortgage financing over the next 60 days, please consider our cause and help me help those in Haiti. As a Toronto mortgage broker my service will not cost you, I don’t serve the interest of any bank, I only serve the interest of my clients and of course I will be able to offer you the most competitive rates in the market today.

Please e-mail me or fill out a secure online mortgage application to get started.

Thank you for your consideration.

Chris Molder – Son Of A Broker

Adding Art to Your Toronto Condo

chris — Fri, 18 Dec 2009 21:59:46 +0000

Having purchased a Toronto condo, all of sudden I have become keenly aware of interior design, textiles, furniture and all the elements that enhance your living space. It can be an intimidating world for a simple guy whose interior design experience includes hanging posters of various sports heros, fast cars and swimsuit models during my teens.

Recently I’ve been consumed with finding the right art to fill the voids of white wall scattered around the unit. Lets face it, in a condo just big enough to stay sane, hanging a piece of art on the wall is a daunting task. It won’t just blend in easily. Somehow I don’t think my Sports Illustrated posters will do the trick… luckily I found these tips to be helpful. Lets call them the 10 Commandments of Selecting Art For Your Condo:

#1- Pick art that you actually like! -Sounds like a no brainer but important none the less… just because it sold at Ikea and everybody likes it doesn’t mean you have to.

#2- Grace & Style- I can’t say that I’ve ever seen a condo decorated with antique furniture [send me pictures if you have one] so your grandpa’s “Hunting Scene” hand me down may not be the wisest choice, intrinsic value aside. Go with something that fits into your urban surrounding or theme of your decor and furniture.

#3- Location, Location, Location For your bedroom you would want to select a piece that is more calming or “seductive” in nature, where as your living or dinning area is a great place to get wild and explore with stronger colour’s and themes.

#4- Pick Art That Suits The Room- If you simply buy a piece of art that you love and bring it to your condo and then discover that it doesn’t work, you may be very disappointed. Where as in a home you have options of moving your furniture around or putting it in different rooms to “make” the art work, in a condo you don’t have those options.

#5- The Right Light- Light is key to displaying art. If your art doesn’t have that exhibit brilliance you were looking for consider buying some direct lighting or a picture light to bring it to life. Art loves direct sunlight but take measures to protect your art from too much sunlight as posters, pencil, watercolour and pastels will fade. Arcrylic is okay.

#6- Death by Hanging- There is nothing worse than a poorly hung piece of art. As simple as it may be there is a right way to hang art. The general rule of thumb is paintings should be hung so that the center of the painting is at eye level. If you are into abstract art it may be difficult to find the intended orientation. [hint find the signature bottom right]

#7- The Right “Frame” of Mind- It isn’t essential to have a frame around your art. Framless art is very diverse in that if you move or paint or redecorate you don’t need to be too concerned about whether the frame will still fit in. If you do select a frame, tie it in to the location where the artwork is to be hung, as well as in to the artwork itself. The frame should be a continuation of the picture rather than a contrast.

#8- Colours- When selecting a painting to match color, select one or two of the boldest colors in your room and look for art that has those colours in it. You’re not looking for an exact match here. Picking up one or two of the same colors will send a message that the painting belongs in this environment.

#9- Show Off Your Art – When you walk into a gallery or museum, what do they all have in common? White walls and lots of light. If a wall is wall-papered or painted a color other than white, it limits the choices for hanging art that will look good on it. If a room is dark, the art will not show to its best advantage.

#10- Cost – Beauty is in the eye of the beholder, as the old adage goes… so don’t worry about splurging on expensive art (unless you love it!). If it fits, you like it, and it is appropriate then all the power to you, even if you bought it from a dollar store in China Town.

Feel free to share your “Art Tips” below, I need them!

Christopher Molder – Son Of A Broker

Minto Skyy Condominium

chris — Sun, 13 Dec 2009 02:14:49 +0000

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Greening Your Home in Toronto

chris — Mon, 07 Dec 2009 00:05:28 +0000

CMHC has come out with a number of useful programs to help Canadians make their homes Greener. For example, the ecoENERGY Retrofit–Homes program offers up to $5,000 for qualifying energy-efficiency improvements, from new insulation to upgraded windows/doors. Browser through the following widget to learn more about what CMHC is doing for Canadian home owners and some practical tips on greening your home.