Using your mortgage prepayment options can drastically reduce the total amount you spend on your mortgage and shorten the time it takes to pay it down. If you follow these three steps, you can be mortgage free sooner than ever! 1. Know your prepayment privileges Most mortgages have allowances for you to prepay down your mortgage faster. The standard prepayment amount allowed per payment can vary depending on your mortgage provider. We can work together on your goals to ensure you have the flexibility you require to pay your mortgage faster. Your mortgage provider may be able to increase and decrease your prepayment privilege at any time throughout the life of your mortgage.   This means that if any life event occurs and you need to reduce your payment to the minimum, you can with ease. Most mortgage providers allow this free of charge, but with some providers you can only change your payments a set number of times throughout the year.   2. Increase your payments Anytime you increase your payments, the excess that you pay per payment goes directly onto the principal portion of your mortgage. This is a great way to drastically reduce the interest you will have to pay over the term of your mortgage.   Typical prepayments allow you to add between 10% to 20% of your payment amount to each payment, depending on your lender. Some lenders also allow the use of “double up payments” which let you double each payment!   Here’s an example of prepayments being used on a typical mortgage: All calculations are based off of a $400,000 mortgage with a 5 year term and 25 year amortization at a rate of 2.59% with monthly payments.   No Prepayments: Monthly payments: $1,809.84 Principal paid over 5 year term: $60,836.51 Interest paid over 5 year term: $47,753.89 Mortgage amount remaining: $339,163.49 Years remaining on mortgage after 5 years: 20 Years Adding a 15% Prepayment: Monthly payments: $2,081.32 Principal paid over 5 year term: $78,201.00 Interest paid over 5 year term: $46,678.20 Mortgage amount remaining: $321,799.00 Years remaining on mortgage after 5 years: 15 years & 9 months As you can see, the mortgage was reduced by $17,364.49 and saved $1,075.69 in interest! The mortgage term was reduced by 9 years and 3 months in only 5 years!   3. Make a lump sum prepayment Making a large payment can be a great option for paying down your mortgage, but may not be ideal for everyone. Lump sum payments help you reduce the amount of interest you will be required to pay on your mortgage. They can also be used to reduce your mortgage amount before selling your home and will reduce the penalty you will be required to pay. Lump sum payments are usually between 10% – 25% of the mortgage total. Typically, you can make a lump sum payment onto your mortgage once a year. Every mortgage provider has their own specific guidelines for how you can make a lump sum payment in a calendar year. Your provider may require you put down a minimum amount for a lump sum prepayment, or you may only be eligible for one on the anniversary date of your mortgage. If you decide that prepayments are for you, you can achieve mortgage freedom sooner than ever! Contact me today and lets set your goals into motion.

If you are a business owner, the challenge of finding employees with the required skillset is one thing – once you find them, keeping them is even more of a challenge. What is important to an employee is feeling that they are valued enough to have their employer invest in protecting them should an illness or disability happen to them.  As a business leader, you can ensure your valued employees have the needed protection for themselves and their families with a group benefits plan. Did you know that these plans: Are available to companies with as few as 3 employees? Cost about 3–6% of annual payroll? Are fully tax-deductible? Offer diverse coverage for your employees and their dependants? Are able to pay an employee who is unable to work due to injury or illness? A financial professional can help you grow your business by attracting and retaining the best.

Brandon MB – Brandon has a rich history in the automotive Industry.  To reflect this, the BGMA is pleased to announce the official grand opening of its newest exhibit, “Carstruck: Brandon’s Automotive History”.  The BGMA along with our sponsor, Murray Auto Centre is proud to present a complete history of the automotive sector in Brandon.  The display is made possible by the support of the Murray Auto Centre, which has been a part of Brandon and Westman automotive sector since 1926.  BGMA Board member Tyson Tame commented that “The BGMA as a board felt it was important to highlight the vast history within the automotive sector in Brandon.  There have been many Economic Spinoffs from automotive retailing in Brandon.  Jobs have been created, and it has affected so many lives in Westman”.  The grand opening will be held on Saturday, June 11th, at 1pm at the Museum, 19 – 9th Street.  The display will run from June 11th, 2016 until September. The BGMA officially opened its doors in July of 2011.  Recent popular exhibits at the museum were the History of the Flats, and Brandon: Built on Agriculture. BRANDON GENERAL MUSEUM & ARCHIVES: NEW EXHIBIT OPENING: BGMA Presents: CARSTRUCK: Brandon’s Automotive History Saturday, June 11th, 2016, 1pm Brandon General Museum & Archives 19 – 9th Street, Brandon  MB For more information contact Hillary Campbell at 204-717-1514, or email at bgmainfo@wcgwave.ca.

The March 2017 Flood Outlook was released today by Manitoba Hydrologic Forecasting and Coordination Branch of Manitoba Infrastructure. Flood risk ranges from moderate to major due to above normal soil moisture in the watershed and near normal to below normal snow water equivalent in the snow pack. Ultimately what happens will be dependent on additional snow and rain and the rate of the melt. Timing of spring thaw in the various river basins will also have an impact in that as more areas melt at the same time, they collectively add to the flow and ultimately stress the drainage and river systems. This can also increase peak levels as can additional precipitation during run-off. All measurements that follow are in feet above sea level measured at First Street, Brandon Manitoba. o Favourable weather: minor risk of flooding The range this Outlook provides for Brandon begins with 1170 feet above sea level for favourable conditions.This means an ideal gradual melt with temperatures slightly above and then slightly below zero until the melt is done throughout the Assiniboine River basin. At this level the river should remain within its banks although there may be locations where very minor overbanking occurs. o Normal weather: moderate risk of flooding With normal conditions the river level may go to 1174 feet above sea level. This means a gradual melt without large amounts of precipitation and also without several of the basins reaching peak at the same time. With this we can expect water overbank in the recreational areas along the river. o Unfavourable weather: major risk of flooding With unfavourable conditions the river level may work its way towards 1178.8 feet above sea level. This means conditions like a delayed and then sudden melt over large areas and could also include significant precipitation and/or several basins peaking together. With this we can expect a lot more work with the closing of the Grand Valley Road, maintaining pumps, continuous dike inspection and overall vigilance. As many of you are aware, as the threat increases our response increases and the level of difficulty in our decisions also increases. Historic levels at Brandon: 1995 1178.80, 1976 1179.54, 2011 1182.89, 2014 1183.10, 1882 1183.70 feet above sea level measured at First Street. Our current dike level is 1186.0 feet above sea level measured at First Street. Flood stage is considered as 1172 fasl. The complete report is available: https://www.gov.mb.ca/flooding/  

Johnny Reid Concert: Friday, March the 7th inside the Keystone Centre. Johnny is a country artist with several hit singles in Canada. Nominated for a 2008 Juno award, he has twice been named Male Artist of the Year at the CCMA Awards. Songs include Missing an Angel, A Woman Like You, Dance With Me and Let's Go Higher. With special guests: Natalie MacMaster, Aaron Goodvin and JJ Shiplett. For ticket information click here. 2016 Royal Manitoba Winter Fair: March 28- April 2: Held annually at the Keystone Centre during the Manitoba Spring Break, the fair has tons to do and see for visitors. Scheduled events include a world class equine show, fiddlers contest, Ag competitions, trade show and the ever popular SuperDogs. Early risers may want to take in the traditional Sunrise Breakfast on the first day of the fair to get the festivities started. For more information click here. George Canyon Concert: George Canyon brings his 'Jekyll & Nothing to Hide' Tour” to the WMCA on Wednesday, March the 2nd. George is is a Canadian country music singer who was the runner-up on the second season of Nashville Star in 2004. He grew up in Fox Brook Nova Scotia and later lived in Hopewell, Nova Scotia before moving west. Singles include I Got This, Crazy Love, Slow Dance and others, Besides being an accomplished musician George has also acted in many TV shows including the Trailer Park Boys and Heartland. Ryan Keown is listed as a special guest.  Click here for more information. 2016 CIS Women's Volleyball Nationals: Brandon University will host the nation's best as they compete for the CIS Women's Volleyball National Championship March 11-13, 2016. A total of seven teams will travel to Brandon to join the host lady Bobcats as they get set to throw down inside the BU Healthy Living Centre. Included in the list of activities include an 11 match tournament, an All-Canadian award reception, and an anniversary celebration marking the 10th year of having CIS volleyball at the Brandon University. For tournament schedule please click here. Raise the Woof: Three comedians take the stage at The 40 located inside the Trails West Motor Inn, in support of Funds for Furry Friends. The fourth annual now is scheduled for Saturday, March the 12th and features the comedy workings of Cory Mack, Mike Green, and Dan Glasswick. Advance tickets are only $35 and include a steak sandwich and the comedy show. Get out and support this worthy cause. For more information please visit their Facebook events page.