The Mortgage Maan
LOAN TYPES
Home Purchase
Whether you are starting out and buying a home for the first time, making your second or even third home purchase, or looking to invest in a rental or vacation property, mortgage financing can be challenging. Just over the last year or so, policies and regulations have significantly changed the way we qualify for mortgages. In the last 10 years, changes have affected amortization terms, down payments, refinancing options, and credit score guidelines. Whatever those changes are, my job as a mortgage broker is to stay current and explain everything in terms you will understand and eliminate any doubts you might have.
If you are a first time home buyer you might have many questions such as: How much can I really afford? How big of a mortgage can I get approved for today? What is my credit score and how does a lender rate me? Is the home buying process very difficult? It may all seem daunting at first but I assure you that I can explain the entire process to you and make it simple to understand. From finding a realtor to arranging every aspect of your financing, I can help and I will be with you every step of the way.
If you are investing in a second home, note that the process is a bit different from how you bought your current home. Give me a call and I'll walk you through it.
Mortgage Refinance
There are multiple reasons for wanting to refinance your mortgage. You might be interested in getting a lower interest rate, looking into making some major home renovations, consolidating some debt that has been hanging around or just wanting to leverage the equity built up in your home. Whatever the reason, it is important to understand what type of mortgage you currently have and what, if any, the penalties are for breaking it early. If you are looking into a refinance, let me crunch some numbers for you to see if it is your best option.
If it makes sense to switch, I can handle the entire process for you. At the very least, we can analyze your situation and you will have the information that you need to move forward.
Mortgage Renewal
Is your mortgage renewal coming up? Have an offer from your current lender already in hand? Have a chat with a mortgage broker. Your current lender may not be offering you the most competitive rates or terms. Over half of Canadians simply renew their mortgage with their current lender without shopping around and risk losing out on substantial savings. Transferring your mortgage to a different lender will require a new application, more paperwork, and costs for legal fees, an appraisal, and administrative expenses. Even with all that, the savings could still make it worth your while. My team and I will do the research for you and make the process as simple as possible.
New To Canada Mortgage
A recent statistic from Genworth Canada stated that 73% of newcomers to Canada believe that buying a home is a sound investment strategy. I was new to Canada not too long ago and I was able to get a mortgage and purchase my first home. Personally, I wanted to buy a home because I believed that it would connect me to my community and I certainly feel that way now.
Did you know that qualified newcomers to Canada can purchase a property with as little as 5% down? There are different criteria to determine borrower qualification and I can help you through the process.
Self-Employed Mortgage Options
In addition to being a newcomer, I was also self-employed. This made my mortgage application even trickier but we were able to get it done. Qualifying for mortgages as a self-employed professional comes with its own set of challenges and you should not have to pay a premium for your career choice. The number of Canadians who are self-employed grows annually and the industry has started to take steps to better recognize this. Whatever your situation is, I'm sure we can find a solution for you.
Mortgage For An Investment Property
All it takes is a conversation. If you have goals of owning a real estate portfolio, don't sit around waiting for too long. Start the conversation and see if we can bring that dream to life. Arrange a consultation and gain a better understanding of your financing options and how you can potentially accumulate multiple investment properties.
CHIP Reverse Mortgage
This mortgage product is designed as a financial solution for homeowners who are 55 or older and wanting to access the equity that they have built up in their home. With a CHIP reverse mortgage, you can access up to 55% of your home's equity. You will maintain ownership of your home and never have to move or sell. You can also choose to receive your money in one lump sum or as monthly payments. It is advisable to talk to both a mortgage broker and a financial planner when contemplating a reverse mortgage.
Commercial Lending
Commercial mortgages are arranged differently from residential mortgages and have their own set of rules for qualification and funding. Please email for more information.
If you have any questions about the loan types above or other mortgage financing options you've come across, please contact me. I'm available 7-days a week!
