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Mortgage Services

Home Buyers

If you are a first time buyer or upgrading to another house in need of mortgage services, there are some basic guidelines to consider.

Get a pre-approval

Before you go shopping contact your mortgage broker to see how much you can afford and get a rate hold from a lender. This will give you a purchase price in mind and a rate guarantee while you shop for your new home.

We can help you:

Obtain the highest limit

Secure best rates

Ensure you qualify

If you own a home and plan to move, you should still contact your mortgage broker for a pre-approval and rate hold. We will talk about your mortgage about how you will obtain the additional funds to purchase the new home. There are various options to consider including a new mortgage or transferring and extending your existing mortgage. Call me today to discuss your options.

Real Estate Investors

Purchasing a property for investment and rental income requires a different approach than for an owner occupied property. The lender takes into consideration different factors when considering these mortgage applications. There is a greater risk to the lender and therefore they have stricter guidelines. There are also different guidelines per lenders. For the borrower there is the advantage of rental income to cover the mortgage costs. As your mortgage broker I can help guide you throughout the process to fully understand the pros and cons of this type of mortgage and how to manage your real estate investment portfolio. I have helped many real estate investors and I can help you too. Give me a call.

Mortgage Renewal/Switch

Your bank relies on you to take the easy route along with 70% of home owners to simply sign the renewal letter without even talking about the interest rate or terms of the mortgage. Don’t get caught in this trap. It could cost you some of your hard earned money. Let us do the work for you to look at your options. The truth is that your situation may have changed since you first took the mortgage along with your needs. At the time of renewal is a good idea to revisit your situation.

When you are within 6 months of renewal for your mortgage, give us a call with your renewal date and we will review some options and set up a rate hold 3-4 months before your renewal date. If you would like to switch to another lender for a better rate or a mortgage more suited to your needs, we can set that up for you. Call me today.

Debt Consolidation

For those homeowners with credit card or other debts who wish to consolidate those debts into one affordable monthly payment, refinancing your home may be an option. There are many elements to consider and discussing your options with your mortgage broker can help you determine the right approach.

Regardless if you need a whole new first mortgage or a second mortgage we look at your current financial situation, credit history, the equity in your home and your ability to make the mortgage payments. Then we review options with you so you can make an informed choice on your next step. Even if you have previous credit issues, owe property taxes, personal taxes to Canada Revenue or you are currently in a consumer proposal – there are options available. Interest rates and costs vary – so it is important to work with a mortgage broker who is experienced to help you. Give me a call – you will be in good hands.

Self-employed

If you are self-employed there are mortgage products available. Just because you think your bank won’t give you a mortgage doesn’t mean there are no options for you. With the answer to a few simple questions including how long have you been self-employed, what is your line of work, your income (gross and net) along with a credit check – we can tell you what choices you have regarding down payment and interest rates. If you are on contract, commission sales, earn tips or any other employment that means your income is difficult to prove – we can help you there as well. Give me a call to review your options.

New To Canada/Non-Resident

If you are a temporary resident on work visa or a permanent resident in Canada there are specific programs you can access for mortgage financing. If you are a non-resident there are also options for you. Whether you are buying your own home, a second home for time spent in Canada or a home for a student attending school in Canada, we look at all the options available to meet your needs. Give me a call to discuss your situation and we can get you into that new home.

Credit Issues/Bank Declined

If you have experienced difficulties with

  • A slow-down in work
  • Mounting credit card debt
  • Missed mortgage payments
  • Bad credit
  • Previous bankruptcy
  • late property taxes or personal income taxes

If you are considering going into or currently in credit counselling— talk to a mortgage professional experienced in the area of debt consolidation. I work closely with banks and credit counsellors who have clients in these situations who want to find a way to get back on track. I work to provide strategies and solutions to help you. If you’ve experienced a credit application rejection in the past – don’t lose hope – give me a call.

Vacation Properties

Ah, yes – the cabin on the lake for summer time fun or for retirement – it is possible. There are lenders who will provide financing anywhere in Canada – they may differ on preference of the type of property or the location. So it is important to talk with your mortgage specialist to review your wants, needs and financing options. Give me a call for a no-obligation review.

Commercial Property Financing

A commercial mortgage is very different from a residential mortgage. The lenders consider the property location and features but most importantly the cash flow to support the mortgage. Therefore the maximum loan amount may vary along with the rate and will only be set after full evaluation of the property (appraisal), 3 years of company financials, rental income/leases, environmental (if applicable) and the application of the personal guarantor(s).

Once the application is approved a commitment with the terms and rate will be offered by the lender. As your mortgage specialist, is it my job to ensure you have everything you need to access the best rates and terms from any of our commercial lenders so you can save money and put it back into your business. I help every step of the way. Give me a call.

For more information on this type of financing and to discuss your specific situation, call me today.


Contact Pauline

For help with your mortgage questions