Trusted Tips and Resources

Trusted Tips & Resources

Trusted Regina Mortgage Brokers Skott Enns and Ryan Boughen share a tip on renewing your mortgage.


Mortgage Renewal Time?

If you have a mortgage, at some point it will come up for renewal (unless of course, you are really close to paying it off, and in that case – congratulations!!!). When this happens, it is important for you to know your options, so that you are not leaving money on the table or putting yourself in a situation which could cost you money down the road.

There are two primary reasons that you may want to leave your existing lender: rate being the primary one, and sometimes you may simply be unhappy with the service (or lack of) that your existing lender is providing to you.

Approximately 65% of clients will simply sign the first mortgage renewal form offered to them by their existing lender when. No questions asked. That is a mistake, and often a costly one. Don’t get me wrong, the easiest thing for you to do is to sign that form. No re qualification, no additional questions, things just keep humming right along… but here is the thing: the banks are also aware of the fact that two-thirds of clients will ‘just sign’, and guess what… the higher the interest rate they can get you to pay, the more money they make.


How often do you think they will have your best interests at heart when renewing your mortgage?


Negotiating a Better Offer Upon Your Mortgage Renewal



The reality is that at the end of that term, you are indeed a free agent! Get out there and play the field. Here is how I would recommend doing that.

Ask Your Existing Lender To Come To The Table With Their Best Rate

Again, there is no doubt that the easiest thing to do IS to stick with your existing lender, and if they are offering a competitive rate, then my advice will always be to stay there. However until you know what they are willing to do for you, it is difficult to determine what the best course of action is.

Call A Mortgage Broker

As a Mortgage Broker, we work with an array of lenders: big banks, credit unions, mortgage finance companies, private lenders etc. Once you have a rate from your existing lender, your Mortgage Broker will be able to run through the mortgage products that the various lenders are offering, and figure out whether or not you would save money by switching lenders. Once we are within 120 days of your mortgage coming up for renewal, if there is a better rate out there for you, we can lock it in.One other reason to avoid signing blindly is that life happens, and situations change… if you just got out of a 5 year fixed term, but have a growing family and recognize that you will likely be upgrading your home in less than two years, perhaps it makes more sense for you to consider a shorter fixed term or a variable term (where the penalty for breaking that term is only a 3-month interest penalty). A Mortgage Broker will help you to work through all of these scenarios.

 

A Quick Re qualification

In the event that you can save money by switching lenders, it is important to realize that you will need to requalify. However, in most cases, assuming your financial situation is similar or better than what it was when you first obtained the last mortgage, this shouldn’t be a big deal. Typically, you will require the following documentation:

  • A letter of employment confirming position, salary, and full-time/part-time status
  • A recent paystub
  • A copy of a recent mortgage/renewal statement from your existing lender
  • A copy of your house insurance policy
  • A copy of your property tax bill ensuring payments are up to date
  • A void cheque or PAD form for the bank account where you would like your new mortgage to come out of

Other Points to Consider When Renewing Your Mortgage

Please recognize that every mortgage is different, and if you are self-employed, a part-time employee, own rental properties or something a little outside the norm, additional documentation may be requested, but the above list will cover the majority of the paperwork. Clearly, it may take a little bit of time to gather these documents. It is up to you whether or not you believe it is worth it.

If I can save you $5,300 (recent real-life example) over the next 5 years through lower payments and interest savings, is it worth spending 2-3 hours collecting a little information? In my eyes, you are making $1,766 per hour if it takes you three hours…. Now there are a LOT of things that I would do if I was paid $1,766/hr to do them, even if they are not my favourite! I would teach myself to snowboard. I would eat plates of raw oysters. I would shop at WalMart. And I would definitely collect void cheques and paystubs if it meant I could save that kind of cash.

When switching lenders, there may or may not be fees involved. Discharge fees, appraisal fees, ‘legal’ fees can all be part of the switching process, HOWEVER, in many cases, these fees can be covered by the new lender. Again, best to discuss these options with your Mortgage Broker, and see what they can do to save you money.


One final point about moving lenders… 

Since October 2016 there has been a substantial rule change that has come into effect which does make it more difficult to qualify for purchasing a home today. That is the truth and there is no getting around it. However, if you are simply renewing your mortgage with a different lender, although you DO have to re qualify, you are grandfathered in under the pre-October 2016 guidelines… which is great news, and ensures that you have a much better chance of being able to move lenders if it makes sense to do so.

If you are looking for honest, unbiased advice from a mortgage broker in Regina they would love to talk with you!

Skott Phone 306-201-6500  Ryan Phone 306-570-3379 

No Time to set up an appointment! No Problem! You can also click here to apply now  with Ryan or apply now with Skott and get the ball rolling.

TMG The Mortgage Group Skott Enns & Ryan Boughen are Trusted Regina Mortgage Brokers

Trusted Regina Printer Future Print shares a tip on how to save your design files to make them print ready.

Future Print is proud of the strong roots they have built in the Regina community. They are locally owned and operated and have been since 1981.

How to save your design files to make them print ready.

All print designers are familiar with deadlines and the havoc they can often wreak on your life! It is incredibly frustrating to spend hours and hours designing your work, only to send it to the printers and get back something far from what you had envisioned. These last-minute problems do more than increase your stress levels and blood pressure, they’re actually hugely damaging to your productivity. Especially if you’re a self-employed freelancer, you know that can spell very real problems for your bottom line.


So in order to smoothly transition from the design stage to printing, what processes should you put in place to avoid expensive (both in terms of finances and sanity) mistakes? It’s essential that you thoroughly proof your documents before going to the printers. Everything needs to be perfect, saving you time, money, and reputation. Here are some simple guidelines to follow:


Make them print ready. 

PDF files are preferred.

INDESIGN & ILLUSTRATOR:

• Embed all Images

• Convert all your text to outline fonts or curves

• Save as an EPS or PDF

• Include bleed and crop marks if possible


QUARK & PAGEMAKER:

• Embed all Images

• Convert all your text to outline fonts or curves if possible

• Export your file as an EPS or PDF

• Include bleed and crop marks if possible


PUBLISHER & WORD:

You will need to have the full version of Adobe Acrobat PDF. If you do have the full version of Adobe Acrobat PDF please follow the steps below.

Under File, Print, select Adobe PDF writer

Under Properties select Press Quality and Save your PDF


Print size matters.

One of the most common mistakes made when printing is sending a document that is too small, which, if not corrected before the final run, can result in a printout that is fuzzy and lacking in clarity due to a lack of resolution. It’s imperative that you create your document the same size as it will be printed in order to avoid this embarrassing end result. Designing at actual size reduces the margin for error with graphics, fonts and layout once printed. Without taking adequate precaution, you’ll soon find that something that looks great on your screen soon turns into a design disaster when printed in the large format for which it was intended.


Proof your document.

What is a "proof"?

A proof is a way of ensuring that we have set your type accurately and that everything is positioned according to your requirements. Typically, we will produce a proof which will be sent to you online, faxed or printed on paper which can be viewed in our store or delivered to you in person.

On multiple color jobs, we can produce a color proof on our color output device to show how the different colors will appear.


We know with some of Future print's tips it will save you time and money in the long run.  

Check out more amazing tips from Future Print Regina:

Our Trusted Regina printer Future Print answers questions about printing with colors.



Future Print is proud of the strong roots they have built in the Regina community. They are locally owned and operated and have been since 1981.

They love what they do and if you spend 5 minutes with Karmen you will know that this is very true!  The passion he and his team have for their work enables them to take ownership of their clients' projects. They constantly strive to deliver the highest-quality products possible.

Future Print offers a wide range of services and products:

Future Print are your Trusted Regina Printers. 

Our Trusted Regina Partner En Vogue Day Spa & Gift Studio are Celebrating 20 Years in business!! Here is a message from the owner Pat.

WHERE HAS THE TIME GONE??

This year is our 20th year in business! Twenty years ago my daughter Traci and I decided over lunch that we would open a spa. Traci had the spa background and my background was in business and commercial property management.

Here is a bit of our story...


It didn't take us long to buy the original house and we were on our way. Traci and three others on our Team began a journey that was both rewarding and at times challenging. Within a few years, more staff and thankfully our growing client list necessitated our expansion to the house next door. A Pedway between the houses, major renovations and our expansion was ready to open.


In time, Traci wanted to spread her wings so she and her now husband, Darren opened a spa in the Hotel Saskatchewan. She loved En Vogue and wanted to include En Vogue as part of her spa name, which looking back was not the smartest thing to do. Our spas were never affiliated and always operated separately. Due to the confusion, Traci and Darren renamed their spa Essence Organic Spa.


As Traci left, luckily my youngest daughter Kim was at a point in her life that allowed her to bring her skills and spirit to 

En Vogue. I am sure you know Kim... she thinks of clients as family. She celebrates clients good times, cries with clients in their sad times and if you are a regular and suddenly not here she will call you to see if you are okay.


By now, our Team has grown to 22 people and our Leading Team have been with us for many years.


We are busy finding new treatments and always learning how to provide the best and safest services for our clients. En Vogue has been a member of The Leading Spas of Canada for many years, also ISPA (International Spa Association) and more recently Trusted Regina. I have always been concerned about the lack of regulations for spas so decided to apply for a director position on the Leading Spas of Canada, where I served a four year term helping develop Best Practices and Standards for Canadian spas.


En Vogue has always been involved in the community, because we believe in giving back and paying forward. I was a director of Sofia House for ten years and Kim also served for several years. I was awarded the President's Award from the United Way for community involvement, which is due to the help of both Traci & Kim, their partners, Darren and Chad, my son Kirk and anyone else I could get to help. I am a grateful and proud mom of two fantastic women and so fortunate to have friends and family support.


Traci and Darren are adventurists and decided the time was right for them to sell Essence. They sold to a person that had worked with them for years and who they thought could take their dream and make it theirs. Unfortunately within a few years, Essence claimed bankruptcy. Even though Traci and Darren were no longer involved and En Vogue was never involved in Essence we all took that hard.


So here we are, En Vogue continues to be a leading spa, offering some unique services that are not available anywhere else. We are committed to our clients safety and wellness. Our future will include researching products, treatments and equipment that we know will help our clients. We do not offer any treatments that are fads, or that do not deliver the outcome promised.


I have almost persuaded Traci to come back to En Vogue part-time when she is not out traipsing the world. I am hoping she can help Kim with En Vogue when I finally have to retire... LOL! I am fighting it, because I love to work and I love En Vogue.


So... Kim and I want to say "Thank You" Regina and surrounding areas! "Thank You" Fantastic En Vogue Team! We wouldn't be celebrating 20 Years without you!


Cheers! Pat



En Vogue Day Spa & Gift Studio have been in business since 1998, a member of the Leading Spas of Canada since 2001 and one of two spas in Saskatchewan that has passed stringent requirements to attain Leading Spas of Canada Quality Assurance Designation. A Designation that means they meet consistent safety, operational and hygiene standards. In 2012, Patricia, who is passionate about spa safety, was elected to the Board of the Leading Spas of Canada, the association that represents spas across the country.

En Vogue Day Spa and Gift Studio is a Trusted Regina Spa 

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S & E Trusted Online Directories Inc
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TrustedRegina.com
1307 Ottawa Street
Regina, SK   S4R 1P3
Ph: 306.529.8558

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