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Start with a pre approved mortgage if you're thinking of buying a home.
Before you set out house shopping with your realtor, why not talk to me about getting pre-qualified for a mortgage? I will pull your credit and verify your income to come up with that magic house price number that you qualify for. Your realtor can then zero in to find you that perfect home at the price you can afford.
Paul Hammond of Chase Realty asks about my background and experience:
Here you go, I began my mortgage career as a mortgage agent in early 1990's. In 1995 I went back to school full time for 5 years to obtain a Financial Services Underwriting (FSU) Post Diploma. It's the highest qualification in the mortgage financing industry.
This vs most mortgage brokers or agents who have taken several few day courses at best. My studies ranged from finance law to real estate law, property assessment, accounting, securities overall 18 full semester subjects related to the mortgage industry.
This makes me one of only 2 mortgage brokers with these qualifications in Hamilton. Upon obtaining my financial services underwriting diploma, I established Axcess Mortgage and Loans Financing Co. Ltd. in 2000 and have since helped hundreds of families achieve their real estate ownership dreams.
I help clients with pre approved mortgage, home buyer loans, refinancing their mortgages getting them the best debt consolidation loans to restructure expensive debt into one low monthly payment or dealing with credit problems and private mortgages.
We are members of a coalition of independent mortgage brokers with a huge buying power with lenders. This translates to lowest mortgage rates for clients and a wide range of mortgage products.
Let's take a look at a couple of pre approved mortgage products:
First time home buyers programs:
One of the exciting mortgage products for first time home buyers or any home buyers is the purchase plus improvements program - the home remodel loan. Instead of buying a house at an outrageous price, buyers can look for a good home that needs some care, maybe a new kitchen or a bathroom and make their own dream home. Buyers can get up to 10% or up to $40,000 more money by combining the purchase price and the cost of renovations into one affordable mortgage.
New to Canada less than 5 years who have a landed immigrant status and permanent employment and some credit history can buy a house with 5% down.
We have a second home mortgage for those wanting to buy a home for child attending university or aging parents.
There are several home loans for self employed:
There is alternative mortgage financing for borrowers with credit problems with 20% down payment -- there are some property and area restrictions with alternative lenders.
Purchasers with 20% down and fair credit at least 600 credit score may be able to fit into a 35 year amortization which will qualify them for more money and lower mortgage payments.
If you need a home mortgage for bad credit, we have private lenders who say YES when everyone else said NO.
It's also important to know that in addition to the down
payment all buyers need to have 1.5% of purchase price for closing costs - in some cases lender and broker fees may apply.
The good news is that for the short term, interest rates on good credit and good income 'A' mortgages should continue to be reasonably low on a pre approved mortgage.
Like many of my clients you'll get fast mortgage solutions, even if at first your situation seems difficult. I will do all the work to get you the best pre approved mortgage - all you have to do is to provide me with the documents needed.
*Lenders change their products and interest rates without notice.