FAQ's
Why
are Brokers Free?
What
about second mortgages?
What
is required to obtain a mortgage?
What
can I use for a down payment?
Can
I get pre-approved before I find the home I want to purchase?
How
much can I qualify for?
What
is the purpose of a mortgage broker?
What
if I have had poor credit or been discharged from bankruptcy? Can I apply
for a mortgage?
Any other questions or concerns, Contact
me.
Why are Brokers Free?
Mortgage brokers indeed work for you, but are paid by the lenders themselves.
I do the work - and you get the benefits.
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What about second mortgages?
Second mortgages are available. Just Contact
me and I can help get you a second mortgage.
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What is required to obtain a mortgage?
In most cases:
- Full time verifiable income
- Good credit rating
- Down payment of 5% or more (Mortgages can sometimes be obtained
with 0% down- contact me for details)
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What can I use for a down payment?
In most cases:
- RRSP's up to $20,000
- Gift from immediate family
- Accumulated savings
- Sale of existing property
- Sweat equity (only acceptable to a maximum of half the down payment)
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Can I get pre-approved before I find
the home I want to purchase?
Yes. Pre-approval is a good idea. Most lenders will hold a rate from
90-120 days. Longer rate holds can be arranged. Ask me for details.
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How much can I qualify for?
Qualifying guidelines vary depending on the lenders criteria and products
available.
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What is the purpose of a mortgage broker?
My job is to find my clients the best mortgage product to fit their
needs. I specialize in mortgage lending and have over 30 lenders at
my disposal. I can get you a lower interest rate and/or better terms.
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What if I have had poor credit or been
discharged from bankruptcy? Can I apply for a mortgage?
Yes you can! There are numerous ways to overcome credit blemishes and
bankruptcies. Please contact me for details.
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