Estate Monthly

Why Zillow Suddenly Paused Home Buying || In a surprising move, massive real estate site Zillow suddenly stops its direct home buying program

Expert Interview: Why Zillow Suddenly Paused Home Buying In a surprising move, massive real estate site Zillow suddenly stops its direct home buying program

Read more from our recent interview with Jermaine Hinds, "𝘽𝙧𝙤𝙠𝙚𝙧 𝙒𝙝𝙤 𝙎𝙖𝙫𝙚𝙙 𝘾𝙖𝙗 𝙊𝙬𝙣𝙚𝙧’𝙨 𝙏𝙤𝙧𝙤𝙣𝙩𝙤 𝙃𝙤𝙢𝙚 𝙎𝙝𝙖𝙧𝙚𝙨 𝙉𝙚𝙬 𝙈𝙤𝙧𝙩𝙜𝙖𝙜𝙚 𝙏𝙞𝙥𝙨": https://estatemonthly.com/.../broker-saved-cab-owners.../ ||

We interviewed Mr. Hinds to learn more about his approach, and to get practical tips for Toronto residents seeking mortgage advice.
EM: What mortgage services are you seeing a surge in demand for, or anticipate a surge for over the next year?

Jermaine Hinds: The big surge right now is debt consolidation. Incomes have been affected by COVID so people are incurring credit card debt, and other forms of bad debt. Another surge that’s developing is in the alternative financing space, because banks right now aren’t able to give what people need, and some people aren’t qualifying anymore for the bank products.
I believe people in Ontario need to be educated more on the alternative and private financing space because it can be a powerful tool to keep your home, or to invest in new business opportunities.

EM: What’s the biggest misconception related to mortgages that you come across frequently?

Jermaine Hinds: The biggest misconception is that anyone can just call and get a rate quote right away. Unfortunately it doesn’t work like that. The online tools to calculate your rate or get estimates aren’t really valid and are mostly marketing gimmicks to get you through the door. But only after you submit all your documentation can you get an accurate rate quote.

EM: Mortgage rates are at historic lows, but for the average person with an existing mortgage, why should they care? How does that benefit them?

Jermaine Hinds: The average homeowner can benefit from these low rates by renegotiating their mortgage for lower payments. That would free up their cash flow for other things, and save money.
For someone considering buying a property, yes property values are high right now, but low mortgage rates more than make up for that over time, so I don’t recommend waiting. Overall they should make more on the property value appreciation. Look for ways to get any kind of property.

EM: If you could only give two tips regarding mortgages, what would they be?

Jermaine Hinds: If you’re a homeowner, you should source out all your mortgage options. Window shop from each bank, check out a few mortgage brokers, and check for consistency and new ideas. There are more options available than most people realize.
This is a great time to buy real estate. The low mortgage rates and high property appreciation means people should get in the market. And if they’re already in, they should consider buying more.

⭐ NEW: Interview with Kevin Chen on on how to safely enter the market: https://estatemonthly.com/canada/british-columbia/vancouver/hockey-playing-agent-vancouver-home-sellers-interview-kevin-chen/ |

David Taylor on the market this month: 𝙏𝙝𝙚 𝘾𝙝𝙞𝙘𝙖𝙜𝙤 𝙢𝙖𝙧𝙠𝙚𝙩 𝙝𝙖𝙨 𝙨𝙚𝙚𝙣 𝙖 𝙨𝙡𝙤𝙬 𝙙𝙤𝙬𝙣 𝙨𝙞𝙣𝙘𝙚 𝙈𝙚𝙢𝙤𝙧𝙞𝙖𝙡 𝘿𝙖𝙮. 𝙂𝙧𝙚𝙖𝙩 𝙝𝙤𝙢𝙚𝙨 𝙖𝙧𝙚 𝙨𝙩𝙞𝙡𝙡 𝙨𝙚𝙡𝙡𝙞𝙣𝙜 𝙦𝙪𝙞𝙘𝙠𝙡𝙮 𝙖𝙣𝙙 𝙛𝙤𝙧 𝙛𝙪𝙡𝙡 𝙥𝙧𝙞𝙘𝙚 𝙗𝙪𝙩 𝙗𝙪𝙮𝙚𝙧𝙨 𝙖𝙧𝙚 𝙥𝙪𝙡𝙡𝙞𝙣𝙜 𝙗𝙖𝙘𝙠 𝙤𝙣 𝙢𝙖𝙠𝙞𝙣𝙜 𝙖𝙗𝙤𝙫𝙚 𝙡𝙞𝙨𝙩 𝙥𝙧𝙞𝙘𝙚 𝙤𝙛𝙛𝙚𝙧𝙨 𝙖𝙣𝙙 𝙥𝙖𝙨𝙨𝙞𝙣𝙜 𝙤𝙣 𝙝𝙤𝙢𝙚𝙨 𝙩𝙝𝙖𝙩 𝙖𝙧𝙚𝙣'𝙩 𝙞𝙣 𝙥𝙚𝙧𝙛𝙚𝙘𝙩 𝙘𝙤𝙣𝙙𝙞𝙩𝙞𝙤𝙣 𝙖𝙣𝙙 𝙥𝙧𝙞𝙘𝙚𝙙 𝙧𝙞𝙜𝙝𝙩. 𝙎𝙚𝙡𝙡𝙚𝙧𝙨 𝙬𝙝𝙤 𝙢𝙞𝙨𝙨𝙚𝙙 𝙩𝙝𝙚 𝙬𝙞𝙣𝙩𝙚𝙧 𝙖𝙣𝙙 𝙨𝙥𝙧𝙞𝙣𝙜 𝙛𝙧𝙚𝙣𝙯𝙮 𝙖𝙧𝙚 𝙬𝙤𝙧𝙧𝙞𝙚𝙙 𝙩𝙝𝙚𝙮'𝙫𝙚 𝙢𝙞𝙨𝙨𝙚𝙙 𝙩𝙝𝙚𝙞𝙧 𝙘𝙝𝙖𝙣𝙘𝙚.