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The Right Mortgage Throughout Your Life

ADVICE Author: Tom Mah

Getting married, additions to the family, receiving an inheritance – major life events can have an impact on which mortgage is right for you.  It makes sense to revisit your mortgage strategy to ensure you are taking full advantage of the many mortgage options available, as you move through different life stages:

Getting Started

An exciting time as young people buy their first home and get themselves established financially.  Mortgage strategies include:

• Focusing on building a good credit history.      
• Ensuring that you can manage the debt you take on.
• Beginning to build equity in one’s home – bi-weekly or even weekly payments can help boost equity faster.  
• Making sure that your mortgage options have flexibility as your housing needs evolve. 

Moving Up

These are the years of balancing family and career, and for many, the highest spending years.  Expanding families often mean moving up to a larger home.  Mortgage strategies to consider are:

• Consolidating high-interest credit card debt with lower-cost mortgage financing. 
• Getting a line of credit as part of your mortgage to manage larger purchases or renovations. 

Building Equity

At this stage, many move into their highest earning years, and paying down the mortgage is often a priority.  As home equity increases, so do borrowing options.   Mortgage strategies include:

• Making lump sum payments on your mortgage. 
• Raising payments along with increases in income. 
• Purchasing a vacation property for the family to enjoy. 
• Increasing the value of your home through renovation projects. 
• Leveraging the equity in your home for investments, business ventures, or revenue properties.

Pre-Retirement

With children grown, lifestyle options change.  Some at this stage make the move to an urban condo or townhouse with luxury amenities, while others keep their larger homes so kids and grandkids can visit.  Mortgage strategies for this group include:

• Taking equity out of your home for a range of purposes, from helping out children with down payments to travel.
• At the same time, having a strategy for winding down your debt. 
• Purchasing revenue property for extra cash flow heading into retirement. 

Whatever your life stage, whatever milestone you’ve reached, make sure you benefit from expert advice on the right mortgage strategy, every step of the way.

Independent Mortgage Advice
Is Yours

To meet your needs, or those of friends & family, I can…

• Shop the market to find you the best rates and mortgage products, whether you are purchasing a home,refinancing or renewing your mortgage.
• Counsel you on credit and mortgage qualifications.
•  Simplify the financing process.

Contact Information | Invis - Mark Clifton & Associates
Name:	Tom Mah
Company:	Invis - Mark Clifton & Associates
City:	Kelowna
Province:	British Columbia
Country:	Canada
Phone:	250-717-8444
Email:	Email
Website:	http://www.tommahmortgages.com