How to Get Pre-Approved for a Mortgage

Step one on your to-do list when searching for a new home to buy should be getting a mortgage pre-approval letter from your financial institution. The pre-approval will let you know how much you can borrow and what your interest rate will be. This will help you budget for exactly how much house you can afford. Perhaps more importantly, having a pre-approval letter in-hand will show any realtors and sellers that you are a very serious buyer. What documents or information do you need to have to get a mortgage pre-approval? The [...]

By | 2018-06-22T11:23:47+00:00 June 22nd, 2018|Mortgage Information|0 Comments

It’s a Commercial Sellers’ Market

Many commercial property owners are wondering when the time will be right to sell their commercial real estate. They have misgivings about the federal government's policy concerning interest rates. In most cases, it takes a professional commercial and industrial real estate professional to answer these questions. It is true that interest rates are currently rising, which signals to most property owners that there will be an increased risk on their parts. But when interest rates are rising, the result is that the cost of mortgage capital increases. However, according to Investopedia, mortgage rates make up only a portion of [...]

By | 2018-05-31T12:23:44+00:00 June 6th, 2018|Commercial Mortgage|0 Comments

How to Respond to a Low Home Appraisal

You've found that perfect home, and your real estate agent has helped you to negotiate an acceptable contract price. The seller accepts the offer and you're on your way to a set of keys. Things are rocking along. The home inspection went pretty well. There were a few minor things to work out with the seller, but they agreed to the repairs. Your mortgage agent got you a great mortgage. Things are looking great; then the appraisal comes in. It's $11,000 below the agreed purchase price of $268,000. This is totally unexpected, and now you [...]

By | 2018-05-31T12:15:17+00:00 May 30th, 2018|Mortgage Agent|0 Comments

Why I love being a Mortgage Broker & Helping Clients with Mortgage Service

I was asked recently if I loved being a mortgage broker and providing mortgage service to clients and, if so, why. I loved the question, particularly how the follow-up “why” didn’t let me off the hook with a simple smile and a “yes.” I do love providing mortgage services for clients in Ontario. Here are the reasons: I believe our purpose in life is to be in service to others. Taking applications, finding the right lender, and obtaining a mortgage for someone is rewarding for me. I like doing this service. I’m competitive. I like [...]

By | 2018-05-22T13:53:46+00:00 May 22nd, 2018|Mortgage Agent|0 Comments

Get a Trip to Las Vegas with your Mortgage!

Buying a home in Ontario can be a stressful time, between securing mortgage financing, attending open houses, viewing homes, submitting offers and closing the deal. The process is very rewarding once you are in your home and past those hurdles. To help my clients unwind, I will be sending a client on a trip to Las Vegas after closing a mortgage worth $150,000 or more. Terms and Conditions of This Promotion: For individuals who have a closed a mortgage of $150,000.00 or more will receive a certificate for a trip to [...]

By | 2018-05-31T09:29:45+00:00 May 16th, 2018|Mortgage Agent|0 Comments

What is the Alternative Lending Market for Mortgages? Vlog

Many people wonder what the alternative lending market for mortgages is, also referred to as the B market or sub-prime market and who should be looking to these B-lenders for their mortgage financing. Watch the video below to hear Diane Bertolin, mortgage agent explain the alternative lending market. A-Lenders or Traditional mortgage lenders are banks & credit unions that cater to customers with good credit scores & reliable income.  These tend to be the Schedule One banks including National Bank, CIBC, BMO, RBC and the like. B-Lenders refer to institutions that [...]

By | 2018-05-04T16:18:10+00:00 May 4th, 2018|Mortgage Information|0 Comments

What Documents Do I Need to Complete My Mortgage Application?

You have already met with your mortgage agent to see whether you are eligible for a mortgage. Mortgage agents still can get preapproval mortgage letter.  A preapproval letter will inform you and your Realtor® as to how much you are qualified to borrow and the mortgage rate and conditions. This does not mean you should put in a cash offer. A preapproval often has conditions that you must satisfy before the lender will lend to you. So use it as a guideline on what you will be able to afford versus an actual mortgage approval. [...]

By | 2018-04-16T10:13:52+00:00 April 16th, 2018|Mortgage Agent, Mortgage Information|0 Comments

What are the Fees that come along with Mortgages?

What are all these fees? The cost of getting a mortgage. So you sit down with your mortgage agent to discuss a mortgage, and she begins to talk about fees—the elephant in the room. There are number of fees that need to be paid when you close a mortgage including but not limited to the appraisal fee, lawyer’s fee, land transfer fee, lending fee, broker fees, administrative fee, commitment fees, and GST/HST (if a new build). Mortgage agents are required to outline every fee that customers will encounter when they complete a mortgage. A mortgage [...]

By | 2018-04-09T08:58:42+00:00 April 6th, 2018|Mortgage Agent, Mortgage Information|0 Comments

What is the Best Type of Mortgage Rate for You?

In our culture, homeownership is often seen as validation that we’ve made it. What is the “it”? Well that depends on you and what you value. For some, homeownership means the ability to have a family because they can keep a family sheltered and safe. For others, it means financial freedom because, in their golden years, their home will function as part of their retirement savings. For whatever the reason, most people in Ontario want to own their home. However, homeownership typically comes with a mortgage because most of us do not have $463,882 in [...]

By | 2018-05-09T10:48:54+00:00 March 27th, 2018|Mortgage Types|0 Comments

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