Mortgage Broker – Creative Solutions For Your Mortgage Challenges

Mortgage Broker – Creative Solutions For Your Mortgage Challenges

Time to revive your mortgage? Want a mortgage but have no down payment? Want a mortgage but are self-employed? You are not alone.

Canadians confront these mortgage challenges every day, whether in larger centers such as Calgary and Edmonton or smaller centers across the nation. Fortunately, a good mortgage broker represents creative and effective solutions to such challenges.

Mortgage Renewal

Did you know that the average consumer pays 1% more than they have to when renewing their mortgage? It may not sound like much, but think of it this way; on a $200,000 mortgage, that 1% could cost you an additional $15,000 over the life of your mortgage.

The reality is that most consumers receive their mortgage renewal statements and simply sign off on them. This is a costly mistake, especially when a seasoned mortgage broker can negotiate the best rates and terms for your renewal.

Whether you plan to stay with your current lender or switch to a new lender, a good mortgage broker has the connections and know-how to negotiate the best rates for your renewal with little or no cost to you. And best of all, it’s a simple and short course of action.

One phone call could save you thousands of dollars in lost interest payments. Just think what you could do with a few thousand dollars.

No Money Down

Finding it difficult to save for a down payment? Or maybe you’d like to put your money to other uses. Whether you’re a first time home buyer or a seasoned investor, the No Money Down approach may be the right product for you.

It’s now easier than ever to have a place to call your own. With many lenders offering up to 100% financing, your dream of home ownership has a better chance than ever of becoming a reality. With good credit you can finance up to 100% of your new home’s value with competitive rates and terms. A shared question is what makes an ideal candidate for the no money down mortgage. The short answer is:

  • individuals with good credit that have little or no down payment,
  • First Time Home Buyers, and
  • investors wanting to continue a positive cash flow.

Self Employed

In the past it’s been difficult for self-employed individuals to acquire mortgages. The daunting task of proving income and company financial history has made home ownership nearly impossible in many situations. Major edges often overlook the fact that self employed individuals write off most of their expenses within their companies to avoid paying higher personal income tax. Unfortunately, the consequence is that the income that most self employed individuals claim is usually not enough to qualify for the mortgage they deserve.

Fortunately, a good mortgage broker will have forged partnerships with leading lenders to offer self-employed clients products and rates that are competitive and comparable to those enjoyed by regular income individuals.

For example, in Alberta, if you’ve only been self employed for a week, it’s possible for an experienced mortgage broker to find a mortgage that will suit your needs.

Here’s to you saving money.

leave your comment