Page 25 - Sports Energy News, Cornwall, Issue No 103

www.sportsenergynews.com Issue #103 August 2021 25

Continued from page 34
• Of those who put down less than 20%, the top reasons were:
o lack of funds (47%)
o wanting to keep money for other expenses (33%)
o comfortable with their current debt obligations (15%)
• Top sources for down payments included:
o savings outside of an RRSP (38%) July 21 July 28
o equity from a previous home (25%)
o RRSP savings (11%)
o gift from a family member (8%)
o a new loan (5%)
o a HELOC (4%)
Mortgage Sources
• 42% of mortgage consumers used a mortgage broker to arrange their mortgage
• Of the remainder, 94% got their mortgage directly from a bank or financial institution
• Of those who used the services of a mortgage broker:
o 85% felt a broker would get them the best mortgage rate or deal
o 84% said the service they received was excellent
o 85% said using a broker was convenient and saved them time
o 84% wanted to use a broker that provided advice and recommendations
o 81% wanted to use a broker that could meet all their financial needs
o 79% felt a broker would increase their chances of being approved for their mortgage
• Homebuyers who used a broker were presented with an average of three rate offers
Mortgage Lenders
• 61% of borrowers got a mortgage from their existing financial institution
• 30% of respondents switched lenders for a better interest rate
o 14% switched for better product terms and conditions This week’s Cool Kid is Jovan This week’s Cool Kid
o 9% wanted better client service from their lender from our Benson Centre is Corbin from our 506
o 7% said they switched due to bad client service from their previous lender Clubhouse Summer Camp!
• 33% of consumers were contacted by their mortgage lender after the transaction Summer Camp!
Home ownership as an investment Jovan always participates and Corbin is a returning BGC
• 85% agree that home ownership is a good long-term financial investment has fun. He always makes sure summer member and each
• 81% are confident they have the tools and information to manage their mortgage and year he just keeps getting
debt load that everyone else is having more and more awesome!
• 78% believe they got the best mortgage for their needs a good time by giving up his
• 77% are comfortable with their level of debt He shows up every morning
• 75% believe their house will increase in value over the next 12 months equipment for others. Jovan is with a great attitude and
• 70% of consumers say they plan to renovate over the next five years super kind and always smiling. he is always rocking a cool
o Of those, 18% plan to finance their renovations using a home equity line of credit (HELOC) Keep being awesome Jovan!
o Another 18% plan to use their credit cards mask each day. Keep being
o 18% say they will draw from their mortgage great, Corbin!

xing Club
xing Club
xing Club
xing Club
xing Club
Champs East Side Bo
Champs East Side Bo
Champs East Side Bo xing Club
Champs East Side Bo
Champs East Side Bo
Champs East Side Boxing Club
Champs East Side Bo
OLD SCHOOL BOXING...OLD SCHOOL TRAINING and proud of it
No fancy equipment...no long term contracts
YOU MUST MAKE HEALTHY CHOICES. YOU WILL get results.

Be the Best YOU you can be.

Get in the shape of your life. Keep your fighting in the ring.
DO YOU HAVE WHAT IT TAKES TO BE A CHAMPION IN THE RING?? TO BE A CHAMPION IN
LIFE?? Only way to find out is by coming to Champs Eastside and Joining.

BUT...when you achieve your goals...It will be worth it!!! Regular nights Mon.-Tues.-Thurs.-Fri...6-9 pm..
$
Extra sessions at coach’s discretion. 40 per month Jorge Luis, President

223 Jarvis Street, Cornwall, ON

613-938-3281