What would it take to keep you in your home? Did you know that a kitchen or bathroom renovation along with a light, neutral colour for wall and floor coverings not only makes your home more enjoyable to live in but are also the most proven factors increasing your homes value and 'sell ability'.

According to the Appraisal Institute of Canada, you should spend 10-15% of your homes value 'sprucing up' prior to selling. If you are considering renovating for personal use and are planning to live in your home for more than 5 years, then you should spend 10-25% more.

In most cases, you will be able to recover the cost by the time you sell - with a 44% higher return.

So why not love it before you list it?

Make an appointment today with Patti Carpenter - pcarpenter@forteriecu.com at our Garrison Road location or with Maureen Murphy - mmurphy@forteriecu.com and see how to save more of your money.

It’s a good idea to get pre-approved for your mortgage before you start house shopping  …  your real estate agent will probably ask you  … how much can you afford?

During the pre approval process, we will take a look at your finances and calculate the purchase price of an affordable home based on the down payment that you have saved and the amount of mortgage that you can comfortably afford to pay back, including the municipal taxes and life insurance.  Even if you haven’t found the home you want to buy, being pre-approved will help you to keep the right price range in mind when you are looking at properties.

A Fort Erie Credit Union mortgage pre-approval will …..

• save you time; your real estate agent will show you homes in your price range and you will be better prepared when you are ready to make an offer
• increase your bargaining and negotiating power; sellers will be more likely to accept your offer because you are giving them peace of mind that you have discussed your financing with the credit union
• give you confidence and avoid disillusionment; you can minimize anxiety by identifying and correcting any credit issues that could disqualify you from being approved for a mortgage 

Remember, your first home is not necessarily your dream home; being both prepared and realistic will help you and your real estate agent to show you properties that you can afford to buy.

Pick up a copy of the Canada Mortgage and Housing guide ….. Home buying Step by Step and make your appointment with Patti or Maureen to get pre-approved today ….
Mortgage Promotion ….. 3.85% for 5 years ….. this great rate is guaranteed until July 31, 2011

Make an appointment today with Patti Carpenter - pcarpenter@forteriecu.com at our Garrison Road location or with Maureen Murphy - mmurphy@forteriecu.com and see how to save more of your money.

All is not as it appears - Be wise to the 35 year amortization
offered on mortgages that can reduce your monthly payment. In whose best interest is it really?

Looking at one example amortized over 25 years, the average $150,000 mortgage using our current 5 year rate of 4%, your interest cost
would be $86,710.This same mortgage amortized over 35 years would be $127,710 - that is $41,000 in extra interest costs alone. Can you imagine if rates go up? Yes the monthly payment looks great but to save $120 per month you would be paying over $41,000 or more in interest if rates increase.

That could be an extra 10 years of RRSP contributions or retiring 10 years sooner. In our members best interest we recommend the 25 year amortization... after all it's your money.

Make an appointment today with Patti Carpenter - pcarpenter@forteriecu.com at our Garrison Road location
or with Maureen Murphy - mmurphy@forteriecu.com and see how to save more of your money.