Mortgage Agent

/Mortgage Agent

How to Respond to a Low Home Appraisal

By |2018-05-31T12:15:17-04:00May 30th, 2018|Mortgage Agent|

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 [...]

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

By |2018-05-22T13:53:46-04:00May 22nd, 2018|Mortgage Agent|

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 [...]

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Get a Trip to Las Vegas with your Mortgage!

By |2018-05-31T09:29:45-04:00May 16th, 2018|Mortgage Agent|

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 [...]

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What Documents Do I Need to Complete My Mortgage Application?

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

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. [...]

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What are the Fees that come along with Mortgages?

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

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 [...]

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Mortgages for Small Business Owners and Entrepreneurs

By |2018-03-02T14:34:17-04:00March 2nd, 2018|Credit, Mortgage Agent|

Recently, I was asked to give a presentation on mortgages for small business owners and entrepreneurs. I also thought it would make an excellent blog. For both a personal mortgage or a commercial mortgage: You are going to need to keep your credit in excellent shape to get a decent mortgage both interest rate wise and terms.  You actually have to claim income. Lenders will look at line 150 of your last two tax assessments. Your financial statements and balance sheets will be reviewed by a lender. These should be up to date and current.  [...]

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Should You Get a Second Home Mortgage?

By |2018-02-16T12:00:35-04:00January 28th, 2018|Mortgage Agent, Mortgage Types, Second Mortgage|

A second home mortgage is a loan that lets you borrow money against the value of your home and your home equity. Many homeowners decide to take out a second home mortgage for a number of reasons. They can be used to finance home improvements or repairs that improve the property's value, to pay for college, to finance a second home or even to go on vacation.However, before deciding to take out a second home mortgage, you should consider the two types of second home mortgages that are available while also comparing the advantages and disadvantages [...]

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7 Ways to Improve Your Credit Score

By |2018-02-09T13:11:05-04:00January 21st, 2018|Credit, Mortgage Agent|

Having a low credit score may make you feel hopeless about your financial future, but don't give up now. There are ways you can start to improve your credit score now. While it may seem challenging to raise your score to the standards that lenders of mortgages and auto loans will require, it is definitely possible and simpler than you think. Here are  the seven ways you can improve your credit score and achieve your dreams of financial freedom. Pay attention to credit card balances Schedule a morning, afternoon or time on the weekend to [...]

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How to Screen a Mortgage Agent

By |2018-02-08T16:58:34-04:00January 14th, 2018|Mortgage Agent|

When you interview mortgage agents you are intent on working with, you can take the opportunity to learn about loan terms, interest rates, and the various types of loan programs available. Not all mortgage agents have the same skill level and expertise, however. When you're in the market for a mortgage agent, you should address the following concerns. Determine whether the agent has the patience to sit down with you and explain all the features of various loan programs. If a agent is representing too many lenders at one time, he or she may not [...]

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How You Can Benefit from Using a Mortgage Agent

By |2018-02-08T16:59:22-04:00January 7th, 2018|Mortgage Agent|

Most people are going to need some type of a loan when they decide they are going to purchase a home - this is where mortgage brokers can help. The costs involved in purchasing a new home are fairly high when you add in the closing costs, fees, rates, and the principal amount you are going to need to actually pay for the house. As responsible adult, you should do research on multiple lending companies to find the best rates and terms. But for most people, this is not easy and the internet is littered [...]

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