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Grow with Nav
Canada
Приєднався 10 тра 2022
I want to retire 1M immigrants with $5M
My story - www.growwithnav.com/nav-s-story
Subscribe if you are interested in:
#Realestate
#StockMarket
#Stocks
#crypto
#business
#moneymanagement
I am a licensed mortgage agent #M21004312 working with Dominion lending centres, Valko Financial #FSRA13047. I work with over 60 lenders including the top banks to provide an array of products that are suited to your needs.
I help First time home buyers & investors make smart realestate decisions based on numbers, not emotion.
Want to book a call👇(It's free 🥳)
www.growwithnav.com/book-a-call
My story - www.growwithnav.com/nav-s-story
Subscribe if you are interested in:
#Realestate
#StockMarket
#Stocks
#crypto
#business
#moneymanagement
I am a licensed mortgage agent #M21004312 working with Dominion lending centres, Valko Financial #FSRA13047. I work with over 60 lenders including the top banks to provide an array of products that are suited to your needs.
I help First time home buyers & investors make smart realestate decisions based on numbers, not emotion.
Want to book a call👇(It's free 🥳)
www.growwithnav.com/book-a-call
Mortgage secrets that the banks don't want you to know 🤫
I am a licensed mortgage agent M21004312 working with Dominion lending centres, Valko Financial FSRA13047. I work with over 60 lenders including the top banks to provide an array of mortgage products that are suited to your needs. I can help you with your housing needs across all provinces in Canada (except Quebec).
I help First time home buyers & investors make smart realestate decisions based on numbers and not emotion. Want to book a call 👇 (It's free 🥳)
www.growwithnav.com/book-a-call
Get up to $3,000 in cash to trade stocks or crypto commission-free! Use this code 91NX5W or the link below to sign up 🙌 my.wealthsimple.com/app/public/trade-referral-signup?code=91NX5W
MORE ABOUT ME 👇
My mission is to provide you with actionable content that enables you to build your wealthand live up to your potential. I came to Canada with my wife (Simran), during the pandemic in 2020, started with very little money, no job - to today, where I recently quit my job after building my side hustle to a cool 6-figures in revenue. I have met so many amazing people and mentors along the way, and I want to bring everything that I have learnt and continue to learn to you via this channel.
Subscribe if you are interested in:
#Realestate
#StockMarket
#Stocks
#crypto
#business
#moneymanagement
DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion.
00:00 - Intro
01:02 - Different Lender Options
10:42 - Calculations
19:50 - Thinking beyond rates
20:28 - Scary Clause #1
21:13 - Scary Clause #2
21:45 - Scary Clause #3
22:30 - Scary Clause #4
23:40 - Outro
Fixed-rate mortgage, variable-rate mortgage, mortgage refinancing, mortgage pre-approval, high-ratio mortgage, open mortgage, closed mortgage, mortgage term, amortization period, mortgage renewal, HELOC, first-time homebuyer mortgage, mortgage stress test, interest rate, down payment, mortgage insurance, CMHC insurance, conventional mortgage, collateral mortgage, second mortgage, bridge financing, reverse mortgage, mortgage broker, lender's mortgage, mortgage default insurance, porting a mortgage, prepayment penalty, mortgage discharge, equity take-out, debt service ratio, mortgage rate comparison, loan-to-value ratio, private mortgage, alternative lender, prime rate, subprime mortgage, mortgage underwriting, title insurance, closing costs, land transfer tax, property appraisal, co-signer, credit score, GDS ratio, TDS ratio, mortgage calculator, home equity, term conversion, payment frequency, bi-weekly payments, mortgage penalty.
I help First time home buyers & investors make smart realestate decisions based on numbers and not emotion. Want to book a call 👇 (It's free 🥳)
www.growwithnav.com/book-a-call
Get up to $3,000 in cash to trade stocks or crypto commission-free! Use this code 91NX5W or the link below to sign up 🙌 my.wealthsimple.com/app/public/trade-referral-signup?code=91NX5W
MORE ABOUT ME 👇
My mission is to provide you with actionable content that enables you to build your wealthand live up to your potential. I came to Canada with my wife (Simran), during the pandemic in 2020, started with very little money, no job - to today, where I recently quit my job after building my side hustle to a cool 6-figures in revenue. I have met so many amazing people and mentors along the way, and I want to bring everything that I have learnt and continue to learn to you via this channel.
Subscribe if you are interested in:
#Realestate
#StockMarket
#Stocks
#crypto
#business
#moneymanagement
DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion.
00:00 - Intro
01:02 - Different Lender Options
10:42 - Calculations
19:50 - Thinking beyond rates
20:28 - Scary Clause #1
21:13 - Scary Clause #2
21:45 - Scary Clause #3
22:30 - Scary Clause #4
23:40 - Outro
Fixed-rate mortgage, variable-rate mortgage, mortgage refinancing, mortgage pre-approval, high-ratio mortgage, open mortgage, closed mortgage, mortgage term, amortization period, mortgage renewal, HELOC, first-time homebuyer mortgage, mortgage stress test, interest rate, down payment, mortgage insurance, CMHC insurance, conventional mortgage, collateral mortgage, second mortgage, bridge financing, reverse mortgage, mortgage broker, lender's mortgage, mortgage default insurance, porting a mortgage, prepayment penalty, mortgage discharge, equity take-out, debt service ratio, mortgage rate comparison, loan-to-value ratio, private mortgage, alternative lender, prime rate, subprime mortgage, mortgage underwriting, title insurance, closing costs, land transfer tax, property appraisal, co-signer, credit score, GDS ratio, TDS ratio, mortgage calculator, home equity, term conversion, payment frequency, bi-weekly payments, mortgage penalty.
Переглядів: 14 712
Відео
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Rule of 35 calculator & Rent vs buy calculator: www.growwithnav.com/money-tools First time home buyer workshop: www.growwithnav.com/freeclass I help First time home buyers & investors make smart realestate decisions based on numbers and not emotion. Want to book a call 👇 (It's free 🥳) www.growwithnav.com/book-a-call I am a licensed mortgage agent M21004312 working with Dominion lending centres,...
How to build a 800+ credit score as a newcomer in Canada 🇨🇦
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I am a licensed Mortgage agent and my tram & I will help you buy your first home in Canada 🇨🇦 Want to book a call 👇 (It's free 🥳) www.growwithnav.com/book-a-call Join the free call for first time home buyers: www.growwithnav.com/freeclass Join the value deals whatsapp group: www.growwithnav.com/investorlist Credit cards: Scotia Momentum infinity Visa card: surl.li/nwuqtz American Express platin...
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How to (legally) Never pay taxes - do this TODAY
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A day in our life in Realestate | Home tours and earnings 🏡🤑
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Under $600,000 homes in Kitchener area 🏡
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30 year mortgages are back - beginning of another HOUSING CRASH? ☄️
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I bought a $X46,000 condo🏡 | My NEXT investment | Analysing pre-construction ✅
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Passive income trading strategy from a Millionaire trader 🤑 @CodyYeh
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Millionaires’ advice | Role of RISK in building WEALTH 💸
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Stock market or realestate? Fireside chat with @CanadianTShirt
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They are a absolute waste of money. I rather live in a 1 bedroom basement than living in these extremely small dog house for humans.
I am what you would called an “investor” and I closed a unit earlier this year, and I have four units closing in the next 2-3 years. My recently closed unit, I paid 65% downpayment and will not be a cash flow negative. My upcoming closings in the next few years, I expect the rates to come down below 3% which is a historically low number. Investors don’t assume 0% rates forever. Only jealous people who did not get in the market thinks investors assumes a 0% rate forever. I have the financial ability to make those three units close to neutral cash flow. But Toronto real estate is still very good investment because of the long term tremendous undersupply, especially in the prime locations. Rents in the city is likely going to rise. We want Toronto to be in the big boys of world cities, we don’t get there with affordable rents. For my properties, a one bedroom is being rented by a person with a $120k+ income, and assuming a very conservative benchmark that 50% of your disposable goes into rent, there is much more room to grow from the $2,400-$2,600 one bedroom rents we are currently seeing. For the record, I am all for affordable housing especially for the young people. That’s why “investors” like me are driving the construction boom. And I believe the government needs to hurry up to build affordable housing at below market rents all over the city, but not in the core districts. That’s why building affordable housing is not counter to rental investments. I would like to think that I represent most of the “investors”. We are financially strong and have been defending the decline very well. That’s why there are jealous people complaining why prices have only come down 15% or so since 2023. Nowhere in the world has been as resilient. There are always going to be an example of a stretched investor here and there, but the reality is there is 1 in 500. And their assignment sale is not even going to be showing up in the records!
My long-term goal is to become a mortgage agent, and my short-term goal is to become a mortgage underwriter. Could you please guide me?
I wn
Hi Navjot, can someone with open work visa (not pr) do required courses and start as a mortgage consultant?
How do I connect with you? I would like to ask a few questions. I am an investor and I get some questions to ask you. Please reach out. I watch all your videos
I would rather die soon! Both cases are so scary man!
With the increase in Crime in canada, Its hard to offer free Gifts!
I am paying 1095$ for a 2bhk 1100sft rent in one of the best capital cities of Canada all inclusive, plus 50$ Internet, 50$ power, thats all 😊😂😂😂, the city name is a secret else it will be flooded with brainless people 😊😅, these brainless agents are sitting in real estate broker positions sucking the blood out of middle class Canadian families like us 😢
The Bank of Canada is full of shit.
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Portability clause was bit confusing
Do you so smith manoeuvres policy
Keep up the great work Navjot ❤
VFV is the best, one of the first ETF I bought. VFV, ZNQ (NASDAQ), ZID (India), VDY (Canada) is all you need
Fantastic video for first time home buyers especially , thank you
🙌
Traditional banks can effectively create money through lending, thanks to the fractional reserve banking system. B-lenders, however, typically rely on private capital or funding from investors to issue loans. They don’t have the ability to create money out of thin air in the same way banks do. Hence, higher rates.
You are awesome! I am following ur videos since you both landed in Canada. So happy to see this amazing transition!
Thanks 🙏
Great stuff!!
A course worth $5000, absolutely free... Thanks
Don’t pay rent for him
Scammer👳♂️
Please let me have the address to follow your progress. Otherwise, I'd think that you're just a guru pretending to be a knowledgeable real estate genius. This way, I could get your ROI and CAP rate. Obviously, I will need the breakdown of income vs. expenses.
I subscribed a while back but get frustrated whenever I watch due to I cannot understand some parts, I hope you put English subtitle.
I have 19 years of banking experience in Sri Lanka and came to Canada on a student visa. I’ve just completed my studies and am now on a work permit. I’m interested in becoming a mortgage agent, but unfortunately, it doesn't fall under NOC 0-3 for my PR process. I also hold an MBA in Finance. I’d appreciate any advice you could offer.
The WhatsApp group says it's full and can't join in. Made a 2nd or 3rd group by any chance?
What does it mean "Breaking two year early"?
If you break the term because you are selling / upgrading / refinancing for lower rate etc.
@@growwithnav Thanks
Great video! Thanks for sharing!!
Save this video. Save this guy before banks kidnap him and put in the basement of those shiny skyscrapers of downtown!!
🙌
How safe are these banks? I know big banks like scotia is probably insured, but what about simplii finance or wealthsimple or EQ?
Let’s say you bought a $500,000 home with 5% downpayment or $25,000. You paid a mortgage insurance / CMHC insurance of $19,000. Your overall mortgage comes to $494,000 incl. the mortgage insurance. Let’s say you sell the home for $600,000 and want to upgrade to a $900,000 home with a 10% downpayment. If you had a portable mortgage, you could have easily ported your existing mortgage to the new home just paying the difference in CMHC / mortgage insurance - but because you got a non-portable discount mortgage on the first home, you will get a double whammy! You pay a penalty of ~$10,000 to break the mortgage! And you pay another $24,000 in CMHC / mortgage insurance. It’s not about the RATE always! There are at least 5 such clauses that can impact the penalties in a way that would cost you thousands of dollars in the in run.
Does mortgage agent get higher commission rate from mono lines then bank?
No.. why would you think that?
YOU ARE NOT SAFE HERE. GO BACK BEFORE ITS TOO LATE
Look at Td investment savings account offered only in TD direct investing
How about Koho?
Extremely insightful information. I would like to have a conversation with you regarding real estate projects.how can we connect
You can book a call from the link in the description.
Please explain how lender B calculate penalty?
the same as top 5 banks.
Thank you so much for sharing this information. Love the way you present facts with spreadsheet :)
Thank you 🙏
NEO financial- 4%/ year interest rate for all time. Best in market.
Why not to invest it in a HISA ETF
You can 👍
Hey Nav, it’s was a grt video , I just want one answer from u that I have purchased a new condo worth of 144,500 n interest of 6.79 % for 1 year term only n I m doing weekly accelerated for 198 $ but also I m doing extra payment of 198$ should I do extra payment or not …will it save money
I think you are fine 👍 Are you living in the condo?
My plan is to buy a home in 2028. What should be the strategy if the plan is to buy a home in the next 3-4 years.
Mutual funds/ ETF
prices will be up by 24%
You can invest in a preconstruction closing in 2028.
Very Informative, Really appreciate your effort! What about penalty with respect to Variable rates to Fixed rates? Is it standardized across all Banks/Monoline? or there is variation over their as well? Again, why would you not suggest with Monoline if the downpayment is 20% or more? Is it due to HELOC?
Thank you. 1. Variable to fixed within the bank is free - all banks and monolines. 2. Breaking a Variable with a bank is about 1.5- 2X penalty vs monolines… as most banks calculate penalties on different base. 3. Yes, HELOC is one reason if you would ever want to take one. If you don’t need that option, then monolines will work just fine 👍
@@growwithnav Thanks! switching variable to fixed with different bank (from Bank A to Bank B/monolines) - will the penalty will be straight 3 months of interest or there is hidden calculation like fixed
Just noticed a scammer!!!! Must be Indian😅😅
where is the scam? if you are going to accuse people of being scammers then back it up with facts...hes just giving info nothing else
Why is that in Canada we do not have a 30 year fixed rate mortgage like the US? US, to that matter , is a better market with better financial products and not to mention the cost of living.
30 year fixed term mortgage isn’t good for the bank to make money :) and Canadian banks never lose money
@@growwithnav This is very bad. In fact BS I would say (I am not trying to blame you or hold you responsible). What I mean is this country for finances or other services is cut throat. Sadly neither PM Aladdin (Trudeau/false dough) has addressed this nor will future PMs of Canada would do anything to address this. People eventually need to have more choices leading to higher competition. This would make the country competitive and consumer friendly.
Agree 💯
@@growwithnav Canada doesn't have a liquid market for mortgage backed securities (Canada Mortgage Bonds). Though a AAA crated country (lol), investor don't want to risk their money for 30 yrs with CMB. If there are investors for CMB, Banks would happily provide 30 Year fixed rate mortgages
Answer to your question. This is how a failed economy like Canada works and exploit citizens and expats where federal government has full control of land and development and suck money out of it by teaming up with the banks. Just imagine only 40 million people lives there yet they have some of the worst products and policies. US market is completely based out of uniform demand and supply and government help people to become eligible to fulfill the demand products are designed that way.
My mortgage is with a monoline at prime-0.4% . I have 3 more years left in my mortgage and also have 35% equity. Is it worth taking a new mortgage considering the 3 month interest penalty ? Do new lenders compensate these ?
They don’t cover all the penalties. Why don’t you check with your lender? Most Monolines would let you refi without penalties. WHO do you have your mortgage with?
@@growwithnav it is with first national. The rates were set for 20% DP. .Since now I have 35% equity and rates for this is much lower , I wanted a switch. However as you suggest , if negotiating with them is an option , I will try it with them. Thanks for your suggestion.
I am bit sure why i git a prepayment with bmo at 20 percent’s principal.
BMO is 20% That’s not a big differentiator though.
@@growwithnav yup agreed and j have been screwed up with bmo though , i got roped in paying 15 percent of the mortgage where i had capability to pay 20 percent but i never had enough credit history- only had been a year in the country - and i had to pay additional cmhc 7800 cad . Which now pinches .! But it is what it is, i guess . How can i connect with you to explore a strategy i was thinking about and how should i go ahead .
TD 125%
Only at the branch.
@@growwithnavwhat does that mean?
Hey Nav, good video but I want to add a points here: 1. Agreed that most first time home buyers will break their mortgage in 3 years but 90% of them break their mortgae because they will be upgrading their home. Why would one not port their existing mortgage onto the next property? Generically speaking most of the big fives allow upto 4 month's from the day you break your mortgage to close on the new property and you blend your rate and get your penalties back? (This way you end up paying 0 penalties). I understand that your blended rate will be higher than the rate you might get if you do not port your mortgage but you end up saving on penalties which as per your calculations are of enormous amount. 2. RBC and CIBC stricktly does not work with broker channel in Canada, I am sure that is why you are not taking their names and took Scotia's name as they work with brokers heavily. Thanks for the video!
🙌👏
good analysis, unfortunate situation for many: they have to choose, and not a lot of people can afford to buy a home and(!) keep investing at the same time, but understanding the math and variables at play is essential to make an informed decision, based not solely on emotions and cultural norms, but also on numbers.