A few more lenders have added as approved income. This helps clients qualify for more purchasing power! When I’m taking an application it’s definitely one of the first questions I ask to ensure we are getting our full buying potential. If you have clients from the past that where previously pre-qualified you may want to […]
Category: Uncategorized
Making a mortgage prepayment
A great way to save on interest costs and reduce the life of your mortgage is by making annual principal payments. If you choose a closed mortgage, every lender has their own allowable prepayment amount. They range between 10% to 20% of the original principal amount of your mortgage once in every 12-month period. The […]
Kids off to University? Why rent?
This program provides borrowers with the additional flexibility of allowing a Second Mortgage to be registered against their property up to 95% combined LTV on a purchase. — Let’s talk? Houses are booming in University towns….why rent when you can own! You’d not only be providing shelter for your child but could possibly earn rental […]
Looking to purchase a cottage?
The Vacation / Secondary Home Program allows borrowers to purchase a second home with an affordable monthly payment with 5% down payment. Eligible Properties Secondary Homes (Type A) Maximum 1 unit The property must be owner-occupied or occupied by an immediate family member New construction covered by a lender approved New Home Warranty Program* Existing […]
What’s the difference between A lenders, B lenders?
A lender When you’re looking for a mortgage, there’s a variety of different lenders out there. “A lenders,” or traditional lenders, refer to banks and credit unions that cater to customers with good credit scores and a reliable income — these are considered an “A” clientele. The majority of people looking for mortgages have traditionally […]
Freeland says aid needed, but not infinite, as central bank targets 2022 for recovery
Not always an exciting read, but we need to know, I have highlighted some points I think you may be interested in OTTAWA — Finance Minister Chrystia Freeland laid out how federal spending might be reshaped along with a bumpy recovery, saying relief will be targeted and likely greater than what was needed after the […]