Spring market is here upon us and I have been fielding many questions. The obvious questions of course are what is the minimum down payment and what is the mortgage rate? Many other important questions have also been asked:
- I'm buying my first home and don't know anything about the process, can you help me?
- is it true that lenders may offer a lower rate if I close my house within 45 days?
- can I borrow for the down payment?
- is it true that interest rates are different depending on how much down payment I have?
- I work lots of overtime and my Bank will not use all of it. Can you help me find a lender who will use all my overtime that I have worked hard for?
- how many acres will lenders value and finance?
- will lenders finance mobile homes on owned land?
- will lenders finance a modular home on owned land if there is no foundation?
- my Bank turned me down, can you help me?
- CMHC and Genworth turned me down, can you help me?
- I'm buying a rental, what is my minimum down payment?
- I have a few rentals can, can you finance one more for me?
- my mortgage is up for renewal, can you get me a better deal with no extra fees to pay?
- I want to buy a second home for our children to live in, how much down payment do I need?
- I am buying a home and want to add a bunch of renovations to the mortgage, can I do this?
- I am going to buy a new home to move into and turn my current home into a rental. Can I buy the new home with 5% down payment and can I use the proposed rental income to help me qualify for a higher mortgage?
- I want a 10yr mortgage but my Bank rate is very high. Can you help me find a lower rate?
- I want to take out equity from my home that is free and clear and I do not want to get an appraisal and I do not want to use a lawyer, is this possible?
- I have to payout my ex spouse and remove her from the house title, can I get a mortgage for this?
- my credit is very bad but I have lots of equity in my home, can you help me?
As you can see, client's need vary, and with the basket of lenders I have access to, I am able to provide the best option for each of the above questions. There was not one lender who offered the best solution for all these situations which supports the theory of seeking out a Mortgage Professional with a stable of lenders for all situations. Even with 30yrs of experience, there is something that seems to appear new almost everyday.
Please feel free to share so that a peer, friend, family member may lower their stress level and take advantage of the knowledge and options I provide.
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